India’s outward FDI rose 17% year-on-year to $5.70 billion in July from $4.88 billion a year earlier, according to provisional RBI data. It was also higher than the $3.14 billion recorded in June.
The unofficial grey market shows increased activity with rising share prices. Recent strong IPO listings have boosted investor confidence and expectations for future gains. Several upcoming initial public offerings are experiencing significant grey market premiums. This heightened investor appetite is driven by recent successful stock market debuts. Companies are now pricing their offerings more conservatively to ensure strong subscriptions.
Wall Street faced a downturn as escalating tensions in the Middle East triggered a surge in bond yields. A steep decline was particularly evident in technology stocks, with semiconductors taking the brunt of the losses. Investors pivoted from growth-focused sectors to safer bets like healthcare. Additionally, oil prices rose amidst geopolitical instability and changes in military strategies.
Anthropic is broadening its revolving credit facility past the initial target to prepare for its much-anticipated initial public offering. Multiple banks are looking to partake in the credit line, establishing their positions in the upcoming IPO. Bolstered by a surge in revenue, Anthropic is geared for its entrance onto Wall Street this fall.
Sebi is preparing to unveil a consultation paper focused on the distribution of corporate bonds. This initiative aims to refine the framework governing corporate bond sales and is evaluating additional distributor categories to broaden debt market participation. With the rise of online platforms, retail investors will gain improved access to privately placed bonds, while technological advancements are set to enhance transparency and efficiency in bond investments.
Kotak Mahindra Bank raised $650 million through its debut five-year dollar bond, pricing notes at 108 basis points over US Treasuries. Strong demand from Asian and European investors helped tighten pricing from initial guidance, with orders reaching $2.1 billion.
Crude prices, rising US yields and weak global cues kept Indian equities under pressure. Analysts remain bullish on Aeroflex Industries and JG Chemical, citing strong technical setups, key support levels and potential upside targets despite near-term market risks.
On Tuesday morning, major indexes on Wall Street experienced a downward trend as oil prices remained high due to falling hopes for a peace agreement between the U.S. and Iran. Additionally, government bond yields lingered near multi-year highs. The Dow Jones Industrial Average registered a drop of 105.3 points at the outset, and both the S&P 500 and Nasdaq Composite followed suit with declines.
Four Indian private lenders are accelerating dollar bond plans before August 31. They aim to raise $1.85 billion, taking advantage of a central bank swap facility. Kotak Mahindra Bank leads this effort, setting final price guidance for its issuance. Other banks like YES Bank, IDFC First Bank, and Federal Bank are also preparing offerings. This comes after ICICI Bank and Axis Bank successfully raised over $1 billion.
Sebi has barred merchant banker Corporate Capital Ventures from taking new assignments for one month due to multiple compliance lapses, including failing to update IPO track records, misleading office location disclosures, and neglecting mandatory NISM certifications for key management personnel.
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