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NSDL IPO: ₹3,000 Crore Issue Set for Late March 2025

NSDL, India’s leading securities depository, is set to launch a much-anticipated ₹3,000 crore IPO in late March 2025, with listing expected on the BSE. The IPO, a pure offer for sale (OFS) of 57.26 million shares, will see IDBI Bank, NSE, and Union Bank of India as selling shareholders.

Key Details:

• Expected IPO Date: March 25, 2025
• Allotment & Listing: Tentatively in April 2025
• Share Allocation:
  • 50% for Qualified Institutional Buyers (QIBs)
  • 15% for Non-Institutional Investors (NII)
  • 35% for Retail Investors
• NSE's Ownership: Currently 24%, compliance with SEBI’s 15% single-entity ownership rule has delayed the IPO.
• Valuation & Market Presence:
  • 31.46 million active demat accounts across 99% of Indian pin codes & 186 countries (as of March 2023).
  • Custody assets worth ₹43,060.50 billion for individuals and HUFs.

The price band, allotment details, and grey market premium (GMP) will be announced closer to the issue date.

Source: https://www.goodreturns.in/news/biggest-ipo-of-march-2025-soon-nsdl-ipo-rs-3000-crore-date-price-allotment-listing-gmp-details-here-1411089.html

NSE Clearing Retains Crisil’s Highest Credit Rating for 17th Year

Mumbai: NSE Clearing Limited, a subsidiary of the National Stock Exchange of India (NSE), has once again received CRISIL’s highest credit rating of ‘AAA/Stable’ for the 17th consecutive year.

The rating highlights NSE Clearing’s strong financial position, its ability to meet debt obligations, and the strategic support from NSE. Crisil also recognized its robust capital structure and advanced risk management systems, which contribute to market stability.

Previously known as National Securities Clearing Corporation Limited (NSCCL), NSE Clearing is responsible for clearing and settling transactions on the exchange. Crisil expects it to maintain its market strength, supported by strict member selection norms and a strong risk framework.

Meanwhile, NSE has revised expiry days for Bank Nifty, Fin Nifty, Nifty Midcap Select, and Nifty Next50 futures & options to the last Monday of the expiry month, effective April 3. If Monday is a holiday, expiry will move to the previous trading day.

Source: https://zeenews.india.com/economy/nse-clearing-retains-crisil-s-highest-credit-rating-for-17th-year-in-row-2870159.html

Nayara Energy Announces Share Buyback Offer for Minority Shareholders

Nayara Energy, India's largest private fuel retailer, has announced a buyback offer for its minority shareholders, aiming to repurchase 2.59 crore outstanding shares at ₹731 per share, the company stated on Thursday.

Background

Formerly known as Essar Oil, Nayara Energy was previously listed on both the BSE and NSE before voluntarily delisting on February 17, 2016.

During the delisting process, the former promoter entity acquired shares from non-promoter public shareholders through reverse book building on the stock exchange, followed by an exit offer between February 2016 and February 2017. However, over 2 lakh retail investors who did not participate in these offers continue to hold shares.

Reason for Buyback

Since Nayara Energy’s shares are no longer traded on any stock exchange, minority shareholders have been unable to liquidate or monetize their holdings. The company has received frequent requests from these shareholders for an exit opportunity.

Board’s Decision

In response, Nayara Energy’s Board of Directors approved the buyback offer on March 3, 2025.

• The repurchase will be conducted at ₹731 per share, based on a valuation conducted by an independent registered valuer.
• The company will soon finalize the buyback schedule and issue a Letter of Offer to eligible shareholders.

Company Ownership & Recent Developments

In 2017, Russia’s Rosneft, along with a consortium of Trafigura and UCP Investment Group, acquired Essar Oil for $12.9 billion, renaming it Nayara Energy.

Source: https://economictimes.indiatimes.com/industry/energy/oil-gas/nayara-energy-to-make-buyback-offer-to-minority-shareholders/articleshow/118756425.cms?from=mdr

OYO has appointed Sonal Sinha as the CEO of G6 Hospitality, the US-based operator of Motel 6 and Studio 6 brands, following its acquisition of the company for $525 million. This move marks a significant step in OYO’s expansion in the U.S. market. G6 Hospitality, previously owned by Blackstone, operates a strong network of budget hotels across North America. Sonal Sinha, who has extensive experience in the hospitality and finance sectors, is expected to lead G6’s growth under OYO’s ownership. The acquisition aligns with OYO’s strategy to strengthen its presence in the global budget hospitality segment. It also allows OYO to tap into the well-established brand recognition and operational expertise of G6. The deal could provide synergies in technology adoption, cost optimization, and operational efficiency for both entities.

Source: https://inc42.com/buzz/oyo-appoints-sonal-sinha-as-ceo-of-g6-hospitality/ 

Zepto Eyes Higher Domestic Ownership Ahead of IPO Filing

Zepto is working to boost its domestic ownership before its upcoming initial public offering (IPO), for which it plans to submit draft papers via the ‘confidential’ route.

IPO Strategy

To achieve this, the company is exploring multiple avenues, sources reveal.

• Zepto aims to raise $100-150 million through debt financing from its founders to repurchase shares from existing investors.
• The company and its investors are also considering setting up an Indian Alternate Investment Fund (AIF) to transfer a portion of foreign-held shares.
• These efforts align with a broader strategy to facilitate a secondary funding round, attract mutual fund investors, and enhance domestic ownership.

Key Developments

• Zepto’s share transactions will be executed at a $5 billion valuation.
• If the founder-led buyback proceeds, it will mark one of the largest such transactions, following Oyo’s Ritesh Agarwal.

Recent Moves

• In January, Zepto completed its reverse merger from Singapore to India as part of its IPO preparations.
• The company plans to file its draft IPO documents by March or April.
• It is also considering increasing its IPO size to $800 million–$1 billion, incorporating secondary share sales.
   

Source: https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/end-of-upis-free-run-zepto-finetunes-ipo-strategy/articleshow/118866358.cms?from=mdr

Nayara Energy to Invest $8 Billion in Green Hydrogen & Petrochemicals Expansion

Nayara Energy is gearing up for its next major transformation, shifting from a refining leader to a powerhouse in green hydrogen and petrochemicals. Currently, Nayara operates India’s second-largest single-location refinery in Vadinar, Gujarat, with an annual capacity of 20 million tonnes. Reports indicate that the company plans to invest $8 billion (₹68,000 crore) to establish a 1.5-MTPA ethane cracker at the refinery. This ethane cracker will break down hydrocarbons into ethylene, a crucial chemical used in the production of plastics, adhesives, and other petrochemicals.

In addition to its refining operations, Nayara is also the largest private fuel retailer in India, with a network of over 6,000 fuel stations. The company aims to expand this network by adding 1,200 more petrol pumps in the coming years.

Source: https://www.fortuneindia.com/long-reads/nayara-energys-next-big-leap-from-refining-giant-to-green-hydrogen-and-petrochemical-powerhouse/120618

Tata Capital Eyes $11 Billion IPO in 2025, Set to Raise Up to $2 Billion

According to Bloomberg, Tata Group plans to list its financial services division, Tata Capital, at an $11 billion valuation, potentially making it India's largest IPO in 2025. The company’s board has approved the sale of 230 million shares, which could raise up to $2 billion. Additionally, Tata Capital announced a ₹1,504 crore ($172 million) rights issue.

Targeting customers with limited access to traditional banking, Tata Capital is a major player in financial inclusion, with over 900 locations across India. Despite market volatility, India’s IPO market remains strong, with companies like Prudential Plc and LG Electronics India preparing to go public. Hyundai Motor India raised $3.3 billion through its IPO last year.

Source: https://trak.in/stories/at-rs-94000-crore-valuation-tata-capital-can-be-indias-biggest-ipo-of-2025/

Tata Capital Enhances Website Accessibility for Differently-Abled Users

Tata Capital, the financial services arm of Tata Group, has become the first non-banking financial company (NBFC) to enhance its website with accessibility features for differently-abled individuals. This initiative reflects the company's commitment to inclusivity, offering tools like reading assistance for the blind and improved readability for the visually impaired.

Abonty Banerjee, COO – Digital and Marketing at Tata Capital, emphasized the company's goal of fostering an inclusive digital environment, ensuring equal access to financial services. This move supports broader efforts in the industry to enhance accessibility and digital inclusion, setting a new standard for financial services.

Source: https://www.cnbctv18.com/business/companies/tata-capital-becomes-first-nbfc-to-enhance-website-accessibility-for-differently-abled-19569137.htm

Oyo, led by founder Ritesh Agarwal, is projected to report a profit after tax (PAT) of Rs 1,100 crore in FY 2025-26, a significant increase from Rs 229.6 crore in FY 2023-24. Agarwal recently shared these projections with the company's management.

From April to December this year, Oyo posted a net profit of Rs 457 crore, marking its first profitable year in 2023-24. For FY 2025, net profit is expected to range between Rs 600-750 crore, driven by acquisitions and international expansion. Notably, Oyo acquired G6 Hospitality (parent of Motel 6 and Studio 6) for $525 million in December.

The company has also raised funds in the secondary market, with Nuvama Wealth purchasing shares worth Rs 100 crore in December. Oyo is preparing for an IPO, targeting a $5 billion valuation. However, if the IPO is delayed beyond October, Agarwal faces pressure to repay a $383 million loan, with an extension possible if the IPO occurs this year. Oyo was founded in 2012, with Agarwal holding 32% and SoftBank owning over 40% of the company.

Source: https://www.financialexpress.com/business/industry/oyo-expects-pat-to-rise-to-rs-1100-crore-in-2025-26/3768587/

Apollo Green Energy Limited (AGEL) has announced plans to establish a new subsidiary, AGEL Renewable Energy Ltd, with an investment of ₹500 crore to develop a 1 gigawatt (GW) renewable energy portfolio over the next 2-3 years, starting from the fiscal year 2026. This initiative aims to bridge critical gaps in India's renewable energy landscape and contribute to the country's clean energy goals.

The new subsidiary will focus on utility-scale solar projects while integrating advanced energy storage solutions, including hydrogen-based systems. AGEL Renewable Energy Ltd plans to actively bid for large-scale government tenders and establish power purchase agreements (PPAs) with utilities and commercial consumers.

This move aligns with AGEL's broader strategy to expand its renewable energy footprint, as the company prepares for a public listing in 2025 and aims to build a ₹10,000 crore project portfolio by that time.

Source: https://energy.economictimes.indiatimes.com/news/renewable/apollo-green-energy-to-form-subsidiary-invest-rs-500-cr-to-build-1gw-portfolio/118752443