Tata Capital is offering investors a sweetener. In a goodwill gesture to investors, it has trimmed its post-money equity valuation by 5% to $15.7 billion ahead of its IPO, leaving more value on the table for investors, reports Ashwin Mohan. The company set a price band of Rs 310-326 per share, with the issue size now at $1.75 billion at the upper finish of the price band. Yet, as Ravindra Sonavane reports, the price band is at a 55% discount to its unlisted market price of Rs 735, leaving retail investors who bought in the grey market staring at significant notional losses.
The tech jobs market has hit a slump. The human cost of TCS’s layoffs is becoming clear, report Debangana Ghosh and Reshab Shaw. Panic, uncertainty, and anxiety are looming large among employees amid a wave of forced and sudden resignations. IT unions and employees estimate the number of layoffs to far exceed the company’s stated figure of 12,000 jobs cut.
Qualcomm is, however, doubling down on India. In a conversation with Danish Khan, chief operating officer Akash Palkhiwala outlined plans to expand the company’s four Indian engineering hubs, boost startup investments through Qualcomm Ventures, and tap into OSAT (outsourced semiconductor assembly and test) capacity with potential partners such as the Tata Group.
Startup founders are reclaiming the spotlight, with a growing number of them, including those from Lenskart, Urban Co., Groww, PhysicsWallah, Ather, and Bluestone, embracing the promoter tag ahead of their public listing, reports Aryaman Gupta. This shift is driven by regulatory easing, such as SEBI’s relaxed ESOP norms and tweaked promoter contribution norms, and shifting investor expectations, with founders seeking to reassert control and demonstrate accountability in a market environment.
India’s IPO market is scaling new highs. It’s on track for a record year, with 74 IPOs raising Rs 85,000 crore and upcoming issues from Tata Capital and WeWork India expected to push the tally past Rs 1 lakh crore, reports Ravindra Sonavane. This milestone has been breached only twice before, in 2024 (Rs 1.6 lakh crore) and 2021 (Rs 1.19 lakh crore), and with marquee names such as ICICI Prudential, Groww, and Pine Labs lining up to raise funds, analysts expect 2025 to set a new fundraising record.
India’s role as the world’s pharmacy has strengthened substantially since the pandemic, according to an analysis by Ishaan Gera, with the US emerging as its most depfinishent customer. India’s share in US medicine imports has doubled in six years, driven by retail formulations like tablets, syrups, and antibiotics. The US now accounts for nearly 16% of India’s finished retail drug exports, highlighting the counattempt’s growing reliance on a single market.
Monetary policy, too, is in the spotlight, with the RBI’s rate-setting panel’s meeting starting today. It could be a tightrope walk between maintaining policy credibility and boosting growth, with economists split on their views on a rate cut, reports Manish M. Suvarna. While SBI Research advocates for a 25-basis-point cut, IDFC First Bank expects the RBI to stay on paapply. Meanwhile, Dipti Deshpande, an economist at Crisil Ltd, declares the case for a rate cut is compelling as urban consumption is tepid and the investment cycle has yet to pick up. Fiscal support has come, and monetary policy necessarys to complement it, she argues. However, Dhiraj Nim, an economist at ANZ Research, informed Manish Suvarna that the RBI should hold off on rate cuts for now.
And finally, on a lighter note, Varun Singh takes us inside the complex world of naming a car model. From Tata’s Nexon, meaning “next-level design,” to Skoda’s Kylaq, born of a public contest, to BMW’s orderly numbering system, carcreaters brainstorm, test, and screen names to ensure they resonate with customers. You may question, what’s in a name? For autocreaters, it seems quite a lot.
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