Market Walk

Top Market Highlights Of The Day – Dec 28th 2021

Rainbow Children Hospital files over Rs 2000 crore IPO

Rainbow Children Hospital, a multi-specialty pediatric hospital chain, will hit the primary market with an IPO of Rs.2,000 crore. This will include a fresh issue component of Rs.280 crore. The fresh issue proceeds will be used for early redemption of NCDs issued by the company as well as for CAPEX towards setting up of new hospitals and purchase of medical equipment. Rainbow is backed by the CDC group of London. Rainbow started with its first hospital in Hyderabad and now runs 14 pediatric hospitals across 6 cities.

Navi Mutual Fund to launch its second NFO in January

Navi Mutual Fund, backed by Sachin Bansal, plans to launch its second mutual fund, which will be an index fund benchmarked on the Nifty Next 50. It will have one of the lowest TERs of 0.12% and Navi focuses predominantly in the passive space. Navi MF has been filing several passive funds with SEBI and has also recently filed for a Blockchain fund. Navi also has an EV fund and a microcap fund. To date, Navi launched a total of 19 new schemes so far in 2021. The focus of Navi is largely on a family of low-cost passive funds.

Capillary Technologies filed DRHP for its proposed Rs.850 crore IPO

Capillary Technologies filed DRHP for its proposed Rs.850 crore IPO comprising of a fresh issue of Rs.200 crore and an offer for sale (OFS) of Rs.650 crore. The company is backed by Warburg Pincus and Sequoia Capital. Capillary offers artificial intelligence-based cloud-native Software-as-a Solution (SaaS) products, to enhance the loyalty of consumers and channel partners. None of the PE investors plan to participate in the OFS. Fresh issue proceeds will be used for debt repayment, investing in products, and inorganic growth.

Paras Defence has been selected by DRDO

Paras Defence has been selected by DRDO for handing over the technology of border surveillance systems. The specific technology was developed by the Instruments Research and Development Establishment (IRDE) and DRDO. With this transfer of technology agreement in place, Paras Defence will cater to the needs of the armed forces. Paras Defence has already been a multi-bagger, surging almost 300% over the IPO price. Paras designs develop, manufactures, and tests a wide range of defense and space engineering products.

Oil India is setting up a plant to manufacture green hydrogen in Assam.

Oil India is setting up a plant to manufacture green hydrogen at its Jorhat oilfield in Assam. This will add to the bouquet of clean energy offerings of Oil India. OIL will set up a 100 KW green hydrogen plant. It will generate green hydrogen using AEM technology for the first time in India. Green hydrogen is derived from water electrolysis using renewable energy sources like solar or wind. The government has already laid out the Hydrogen Roadmap for India. Under COP-21, India will reduce greenhouse gases by 33% over 2005 levels.

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