SEBI'S Toxic WORK CULTURE Exposed!!
Over the past week, significant events have occurred in the Indian stock market.
1. SEBI Employees' Protest: SEBI employees launched a protest against the organization, claiming a "toxic work culture." They accused SEBI of dismissing their concerns in a media release and demanded the resignation of SEBI Chairperson Madhabi Puri Buch.
2. Boss Packaging IPO: After the frenzy around Resourceful Automobile, Boss Packaging Solutions' IPO was oversubscribed 135 times, raising ₹1,073 crore against its initial size of ₹8 crore. The company, with only 64 employees and modest financials, operates from a small facility in Ahmedabad.
3. Gautam Adani in Kenya: Gautam Adani’s attempt to acquire an international airport in Kenya has sparked protests from airport workers fearing job losses. The Kenyan government, however, stated that no sale or partnership deal has been finalized yet.
4. Bajaj Housing Finance IPO: Bajaj Housing Finance will launch its IPO on 9 September, with a total issue size of ₹6,560 crore. The price range is ₹66-70 per share, and investors must buy at least 214 shares.
5. HDB Financial Services IPO: HDFC Bank is preparing to list its non-banking arm, HDB Financial Services, with a potential valuation of $7-8 billion by the end of FY24. The IPO may come as early as December 2024.
6. EaseMyTrip Electric Buses: EaseMyTrip shares surged 11% after announcing its entry into electric bus manufacturing through its subsidiary Easy Green Mobility, with a ₹200 crore investment.
7. Adani Group’s Semiconductor Investment: Adani Group will invest ₹83,947 crore ($10 billion) in Maharashtra to establish a semiconductor fabrication unit. The project will be developed in two phases.
8. Maharashtra’s FDI Dominance: Maharashtra secured ₹70,795 crore in FDI from April to June 2024, representing 52.46% of India’s total FDI. The state has led in FDI for two consecutive years.
9. Coal India’s Mining Expansion: Coal India is set to expand into mining critical minerals like lithium and nickel in Australia and Africa.
10. SpiceJet’s ₹3,000 Crore QIP Plan: SpiceJet plans to raise ₹3,000 crore via a qualified institutional placement (QIP). The company is conducting roadshows in major cities to attract investors, and the process is expected to be completed by the end of this month.