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Deutsche Bank Refinances Part of OYO’s $350 Million LoanDeutsche Bank AG is refinancing a portion of the $350 million loan earlier provided by Mizuho Bank to Ritesh Agarwal for purchasing shares in OYO.The German bank is arranging a three-year bullet loan of around $150 million.The rest of the Mizuho loan has been repaid by Ritesh Agarwal’s investment entity, RA Hospitality Holdings.This refinancing helps reduce Agarwal’s near-term funding pressure, giving him more breathing room.The move also enables Agarwal to focus on OYO’s planned IPO, expected to value the company at $7–8 billion.OYO’s parent entity, now renamed Prism (earlier Oravel Stays), is working with several banks —Axis Bank, ICICI Securities, Goldman Sachs India, and Citigroup India — to prepare the public offering.The company has reported 14 straight quarters of positive adjusted EBITDA, signaling improving financial stability.OYO is increasingly using AI tools to strengthen pricing, operations, and property management. OYO – Quick OverviewFounded: 2013 by Ritesh AgarwalBusiness: Global hospitality and travel-tech company operating a network of budget hotels, homes, and stays.Model: Aggregates small hotels, standardizes them, and lists them on its platform with tech-enabled pricing, booking, and management tools.Scale: Operates across India, Southeast Asia, Europe, and other markets with thousands of properties.Strength: Strong technology stack for dynamic pricing, property management, and customer acquisition.Current Focus: Debt restructuring, strengthening profitability, and preparing for its planned IPO, which could value the company at $7–8 billion.Ownership: Founder Ritesh Agarwal holds a major stake through RA Hospitality. Source: https://www.moneycontrol.com/news/business/companies/deutsche-bank-said-to-refinance-part-of-350-million-oyo-loan-13684697.html?utm_source=chatgpt.com 

SEBI Chief Tuhin Kanta Pandey Clarifies Listing Status of NSE IPOOn Monday, Securities and Exchange Board of India (SEBI) chairperson Tuhin Kanta Pandey announced that SEBI has initiated a review of the Listing Obligations and Disclosure Requirements (LODR) regulations and will engage in detailed consultations before finalising any changes. He added that a consultation paper will be published as part of this process. Regarding the much-awaited IPO of National Stock Exchange of India (NSE), he said that clarity on the No Objection Certificate (NOC) will be provided “at the appropriate time”.Speaking at the CII Financing National Summit in Mumbai, Pandey responded to recent remarks by V Anantha Nageswaran, who had observed that IPOs are increasingly being used as exit mechanisms rather than for raising fresh capital. Pandey clarified that SEBI has already strengthened the regulatory framework by updating certain metrics—for instance replacing the “open interest” measure with a more precise “delta” metric to enhance assessment accuracy.He emphasised that an IPO naturally serves different purposes depending on the company’s maturity stage: while many mature companies use IPOs partly for investor exits, others utilise it to raise fresh funds for expansion or greenfield projects. He stated that SEBI supports this diversity of purpose and believes the capital market should remain flexible to accommodate all types of IPOs. Key Points on NSEFounded in 1992, NSE is India’s largest and most advanced stock exchange.Headquartered in Mumbai, it operates a fully automated, nationwide electronic trading platform.Creator of the NIFTY 50, one of India’s most widely tracked benchmark indices.Ranked the world’s largest derivatives exchange (by number of contracts) and among the top global equity exchanges.Dominates the Indian market with 90%+ share in equity derivatives and strong market share in cash equity.Hosts 2,700+ listed companies and serves 24+ crore investors through brokers and intermediaries.Operates a complete market infrastructure ecosystem—trading, clearing, settlement, indices, data services, and education.Generates strong, consistent profitability due to its transaction-driven business model and high operating leverage.Continues to invest heavily in technology, low-latency systems, and data infrastructure to support high trading volumes.NSE’s IPO is pending regulatory approvals, but recent comments from SEBI indicate that obstacles are being resolved. Source: https://www.zeebiz.com/companies/news-nse-ipo-sebi-chief-tuhin-kanta-pandey-gives-clarity-on-listing-check-latest-update-383445  

NCDEX Eyes 20% Stake in Sri Lanka’s First Commodity & Derivatives Exchange: NCDEX is evaluating a ~20% equity stake in Sri Lanka’s upcoming commodities and derivatives exchange, CSEDEX.CSEDEX, promoted by the Colombo Stock Exchange (CSE), aims to establish the country’s first organised commodity and financial derivatives marketplace.The initiative fills a significant gap in Sri Lanka’s financial infrastructure and supports long-term market development.The proposed investment will enhance India–Sri Lanka financial collaboration and broaden NCDEX’s regional presence.Under the existing MoU, NCDEX and CSE will jointly develop products, strengthen trading architecture, and share regulatory expertise.The partnership includes technology support and capacity-building efforts, enabling robust derivatives trading capabilities.The move offers NCDEX an opportunity to diversify its business, access new volumes, and reinforce leadership in South Asia’s commodity ecosystem. About NCDEX:The National Commodity & Derivatives Exchange (NCDEX) is one of India’s leading regulated online commodity exchanges, primarily focused on agricultural commodities. It provides a transparent, efficient platform for futures trading, risk management, and price discovery across key agri products. Backed by prominent financial institutions, NCDEX plays a critical role in strengthening India’s commodity markets and supporting farmers, traders, and institutional participants through structured, technology-driven market infrastructure. About CSEDEX:CSEDEX, promoted by the Colombo Stock Exchange (CSE), is Sri Lanka’s upcoming commodity and derivatives exchange designed to create a structured, transparent marketplace for trading commodities and financial derivatives. It aims to strengthen the country’s financial infrastructure, enable efficient price discovery, and attract institutional participation—positioning Sri Lanka for deeper integration into regional commodity markets. Source: https://www.business-standard.com/companies/news/india-s-ncdex-eyes-20-stake-in-sri-lanka-s-first-commodity-exchange-125111600347_1.html 

Indian Potash Leads India’s Next Wave of Fertilizer Innovation Under P.S. GahlautStrong Industry TailwindsThe global fertiliser market is growing steadily, and P.S. Gahlaut calls this a “golden period” for boosting agricultural productivity.Focus on InnovationIPL is collaborating with top agricultural research institutes to create advanced fertiliser solutions that improve nutrient efficiency and crop health.Enhanced Potash ProductsUnder Gahlaut, IPL is developing fortified potash variants that make crops more resilient and reduce the need for excessive chemical use.Sustainability at the CoreMoving beyond traditional fertilisers, IPL is expanding into organic and eco-friendly products to improve soil health and promote balanced farming.Adoption of Precision AgricultureThe company is using AI and digital tools to help farmers monitor crops, optimise fertiliser usage and tackle issues like pests and climate impacts more effectively.Farmer-Centric InitiativesIPL runs programmes for small and marginal farmers, offering subsidies, training, and awareness drives to encourage sustainable agriculture practices.Positive Impact on GroundFarmers adopting IPL’s new solutions are experiencing better soil health, improved productivity and reduced dependency on harmful chemicals.A Company Evolving Beyond FertilisersGahlaut is positioning IPL as an innovation-led, sustainability-driven organisation ready for the future of Indian agriculture. Source: https://www.business-standard.com/content/press-releases-ani/how-ps-gahlaut-is-shaping-the-future-of-fertilizer-innovation-at-indian-potash-limited-125111300001_1.html 

Fintech firm Pine Labs made a solid debut on Dalal Street, listing at ₹242 per share on the NSE—about a 9.5% premium over its issue price of ₹221. Despite the broader market being relatively subdued, the positive listing underscores investor confidence in its business model. However, immediately following the listing, the stock dipped to around ₹234, reflecting early trading volatility. Given these factors, analysts suggest that existing allotment investors may hold for the long term, while new entrants adopt a wait-and-watch approach until the stock settles into a stable trading range.  Source: https://www.business-standard.com/markets/news/pine-labs-makes-positive-d-st-debut-shares-list-at-10-premium-on-bse-nse-125111400553_1.html 

SEBI has proposed major changes to the pre-IPO lock-in rules, making it easier for companies and early shareholders to participate in IPOs. These changes aim to simplify the listing process and improve transparency for investors. Simpler lock-in rulesNon-promoter shareholders (who are not large investors) may get relaxed lock-in requirements before an IPO.Pledged shares clarityToday, if a shareholder’s pledged shares are released, the six-month lock-in cannot be applied. SEBI wants to fix this so that the lock-in will still apply, making rules clearer.What are pledged shares?Pledged shares are shares kept as collateral for a loan.Promoters or early investors sometimes borrow money using their shares as security.If the loan is not repaid, the lender can sell those shares.SEBI now wants to ensure that even these pledged shares follow the same lock-in rules after being released.Better disclosuresCompanies must provide a simple summary of all key information in their IPO offer documents so investors can understand the business easily.Why Is SEBI Doing This?The current process is seen as too complicated.India’s IPO market is booming, with over 300 companies raising funds in 2025 — simplifying rules will help more companies list smoothly.Better disclosures lead to more informed investors and stronger trust in the IPO market.Who Benefits?For Investors:Easier access to clear company information.More IPOs expected as rules get simpler.For Companies:Faster and smoother IPO readiness.Less confusion around shareholder pledges and lock-in requirements.For Early Shareholders:Potentially lower lock-in burdens, depending on category.Why This MattersRelaxed rules can open the door for:Faster exits for pre-IPO investorsIncreased IPO activityHigher market confidenceBetter-structured and easier-to-read disclosure documentsWhat to Watch NextThese are proposals, not final rules. SEBI will release the official circular after industry feedback.Investors, founders, and fund managers should track:Final lock-in definitionsImpact on pre-IPO valuationsTiming of implementation for upcoming IPOsSource: https://economictimes.indiatimes.com/markets/ipos/fpos/india-regulator-proposes-relaxations-in-pre-ipo-lock-in-rules/articleshow/125303185.cms??from=mdr

SBI Funds Management Ltd. (SBI Funds), India’s largest asset management company, is planning a massive $1.2 billion IPO (around ₹10,000 crore), expected to hit the markets in the first half of 2026. This public issue could value the company at nearly $12 billion (around ₹1 lakh crore), making it one of the largest financial services listings in the country.Key HighlightsThe IPO is expected to involve a 10% stake sale by the company’s existing shareholders.At the proposed size, the listing could be among the top asset management IPOs globally.SBI Funds is in discussions with leading investment banks and is expected to finalize advisors soon.India’s IPO market has been witnessing strong activity, setting the stage for a large financial-sector listing like this.Why This IPO MattersLandmark for India’s Asset Management Industry:The listing will mark a new milestone for the mutual fund and asset management sector, giving investors direct exposure to India’s growing wealth management market.Unlocking Value for Shareholders:The IPO will allow existing shareholders to partially monetize their holdings while continuing their long-term partnership in the business.Boost to India’s IPO Momentum:With markets remaining bullish and strong investor appetite for quality financial names, this issue could further energize India’s primary markets.Confidence in India’s AUM Growth:A valuation near $12 billion reflects investor confidence in India’s rapidly expanding mutual fund industry, which continues to see strong inflows from retail and institutional investors.What Investors Should WatchBank Mandates & Advisors: Announcement of lead managers will provide insight into deal size, structure, and timeline.DRHP Filing: Once filed, the document will offer a detailed view of the company’s business model, financial performance, and growth outlook.Valuation Benchmarks: Comparison with listed peers like HDFC AMC, Nippon Life India AMC, and UTI AMC will be key to assessing pricing.Market Conditions: Overall sentiment in equity markets and liquidity in 2026 will influence subscription levels and listing performance.Regulatory Landscape: Any policy changes in the mutual fund sector or SEBI guidelines could impact valuation and investor interest.About SBI Funds ManagementSBI Funds Management is India’s largest asset manager, offering a wide range of mutual funds and investment products across equity, debt, hybrid, and ETF categories. It manages assets for millions of investors and plays a leading role in shaping India’s mutual fund landscape through innovation, trust, and scale.Source: https://www.moneycontrol.com/news/business/ipo/sbi-funds-management-eyeing-a-potential-1-2-bn-ipo-in-first-half-of-2026-report-13674383.html

The National Commodity and Derivatives Exchange (NCDEX) is gearing up to enter the mutual fund distribution space, after securing board approval for its new platform. The exchange is now awaiting the final nod from the Securities and Exchange Board of India (SEBI) to operationalize the initiative.According to sources familiar with the development, NCDEX’s upcoming platform aims to broaden retail participation in mutual funds by leveraging its existing ecosystem of brokers, members, and investors who already trade in agricultural and commodity derivatives.The move marks a significant diversification for NCDEX — traditionally focused on agri-commodity markets — as it looks to expand into the financial investment segment. The platform will enable investors to invest in a wide range of mutual fund schemes, including equity, debt, hybrid, and exchange-traded funds (ETFs).Bringing Mutual Funds Closer to Rural and Agri ParticipantsIndustry experts say NCDEX’s entry could democratize mutual fund access in rural India, where the exchange already has a strong base through farmer-producer organizations (FPOs) and rural participants.By integrating mutual fund products into its existing trading infrastructure, NCDEX could play a key role in bridging the financial inclusion gap and encouraging long-term savings among small and rural investors.Regulatory Process UnderwayThe exchange has reportedly submitted its proposal to SEBI and is now awaiting regulatory clearance to proceed with the launch. Once approved, NCDEX is expected to roll out the platform in a phased manner, starting with select distributors and investor groups before expanding to a broader audience.If cleared, this would make NCDEX the first commodity exchange in India to offer a dedicated mutual fund distribution platform, potentially setting a precedent for similar initiatives in the future.What This Means for InvestorsEasier access to mutual fund investments through a trusted exchange-backed platform.Greater participation from semi-urban and rural investors.Integration of financial and commodity investment options under one roof.With SEBI’s approval pending, industry watchers are keenly observing how NCDEX’s foray into the mutual fund space could reshape the retail investment landscape and enhance financial market penetration across India. Source: https://www.thehindubusinessline.com/news/ncdex-gets-board-nod-for-mutual-fund-distribution-platform-sebi-approval-awaited/article70271649.ece

The country’s largest bank, State Bank of India (SBI), is preparing to list its mutual fund arm, SBI Funds Management Limited (SBI MF), in what could become one of India’s biggest asset management IPOs. The offering is expected to hit the markets in 2026, unlocking significant value for shareholders and giving retail investors a chance to own a piece of India’s largest mutual fund house.Key HighlightsSBI will sell a 6.3% stake (around 32 million shares) in SBI MF.Amundi, the French asset management firm and joint venture partner, will offload 3.7%, or about 18.8 million shares.The total offer size equals 10% of SBI MF’s equity.The estimated valuation is around ₹1 trillion, positioning it as the largest AMC IPO in India.The listing is targeted for 2026, subject to regulatory approvals.SBI will retain majority ownership even after the IPO, ensuring continued strategic control.Why This IPO MattersThe SBI MF IPO is a landmark move for India’s mutual fund and asset management sector. Here’s why:Leadership in Asset ManagementSBI MF is India’s largest mutual fund, commanding a 15.5% market share and managing over ₹11.9 trillion in quarterly average AUM. It has consistently led the industry in both retail and institutional segments.Unlocking Value for ShareholdersThe IPO will unlock the tremendous value built by SBI and Amundi over the years, offering the market a rare opportunity to invest in a profitable and high-growth financial services business.Setting a Benchmark for AMC ListingsThis will be the first major AMC IPO since HDFC AMC’s 2018 debut. A successful listing could encourage other large fund houses to explore public markets.Strengthening Retail ParticipationWith mutual fund penetration rising across India, this IPO provides investors a new avenue — investing in the mutual fund business itself, not just through mutual funds.What Investors Should WatchValuation and Pricing: Market attention will be on the final pricing and whether it justifies the ₹1 trillion valuation tag.Regulatory Approvals: The listing timeline depends on approvals from SEBI and other regulators.Shareholding Post-IPO: SBI will remain the controlling shareholder, which provides business continuity and confidence to investors.Industry Trends: The mutual fund industry is expected to grow rapidly as financialization deepens and retail participation widensImpact on India’s Mutual Fund IndustryThe SBI MF IPO could reshape the landscape of India’s asset management sector:It enhances transparency and corporate governance within AMCs.Encourages other fund houses like ICICI Pru MF, Nippon India MF, and Kotak MF to consider listings.Strengthens investor confidence in the long-term potential of India’s mutual fund ecosystem.Brings global attention to India’s growing financial services industry. Source: https://www.business-standard.com/markets/news/sbi-to-sell-6-3-stake-in-sbi-mf-via-ipo-retain-majority-shareholding-125110600780_1.html

Onix Renewable Limited’s FY2024-25 performance:Revenue reached approximately ₹1,001.30 crore, marking a growth of about 185.8% year-on-year. EBITDA stood at ₹164.45 crore, reflecting strong operational performance.Net profit (PAT) grew by around 190.7% to ₹153.46 crore.Profit after tax was ₹114.79 crore, up about 191.4% year-on-year. The company expanded its presence across Gujarat, Maharashtra and Rajasthan, executing key projects under the Government’s PM‑KUSUM Scheme and solar-wind hybrid initiatives. It advanced its digital transformation with AI-enabled monitoring, 24×7 smart systems and improved project efficiencies. Strategic focus includes introducing hybrid & storage-based renewable projects and strengthening partnerships to support India’s transition to a net-zero future. Source: https://www.zeebiz.com/branded/report-onix-renewable-ltd-announces-strong-financial-performance-for-fy25-381734