Fintech veteran plans for Dstreet

JSW paints acquires Akzo Nobel, JioBlackrock enters broking, and Delayed tariffs.

☀️ Morning, folks! It’s a new week.

Metal stocks stayed strong as hopes grew that US tariff hikes could be delayed. The Nifty Metal index rose 0.4% on Friday, notching its sixth straight day of gains after the White House signaled the July 9 import tariff deadline may get pushed.

Meanwhile, Indian trade reps are in DC trying to ink a quick deal before the clock runs out, keeping metals buzzing.

And in case the global tension meter felt too quiet, Russia clearly felt the FOMO. It launched its largest aerial assault yet on Ukraine, firing 537 aerial weapons overnight, including 477 drones and 60 missiles.

Back home, deal street is buzzing again. IPOs, mergers, and filings are picking up pace. Gonna be a loaded week.

Let’s hit it!

1 Big thing: Pine Labs eyes the street 💰

Pine Labs has filed its draft papers with SEBI for its IPO to raise ₹2,600 cr.

The deets: the issue is a combination of fresh equity and an offer-for-sale component of more than 14.7 crore shares.

Pine Labs is a finance tech startup that helps shops & businesses accept card payments using swipe machines and other tools. It competes with companies like Paytm and PhonePe.

The why: proceeds from the fresh shares are aimed at funding the repayment or prepayment of company borrowings up to 870 cr.

The company is also planning to invest in its subsidiaries & IT assets like cloud infrastructure and tech initiatives. Not only that, it also plans to boost its international expansion.

If the SEBI approval comes in, Pine Labs will become the third venture-funded payments company to list on the Indian stock exchanges.

Zoom out: India’s IPO market gained strong momentum in June, with eight mainboard IPOs and 30 SME IPOs launching to raise capital.

According to exchange data, the mainboard IPOs alone raised around ₹17,688 crore, marking the highest monthly fundraising through IPOs in the past 6 months.

While we are on IPOs,

Homegrown D2C furniture brand Wakefit Innovations has filed its draft papers with SEBI, looking to raise ₹468 crore through an initial public offering.

The deets: the IPO includes a fresh issue of ₹468 crore & an offer-for-sale of up to 5.8 crore equity shares.

Founded in 2016, Wakefit has quickly become one of the fastest-growing Indian brands in the home and furnishings space.

If approved, this could be one of the largest IPOs in India’s D2C and furniture segment, signaling growing investor interest in homegrown lifestyle brands.

2. JSW Paints scoops up Akzo Nobel India 🤝

JSW Paints is acquiring up to 74.7% stake in Akzo Nobel India Limited (ANIL) a deal valued at up to ₹8,986 crore. The stock gained more than 8% following the announcement.

The deets: Akzo Nobel India is a top player in the country’s paints and coatings market.

The primary stake purchase is pegged at ₹8,986 crore, with an additional contingent consideration of ₹447 crore potentially payable in the future.

Why it matters: the deal gives JSW Paints a big leap into premium decorative and industrial paints, instantly Akzo Nobel has a strong brand portfolio, distribution network, and customer relationships in India.

It helps JSW gain scale in a highly competitive market dominated by legacy players like Asian Paints and Berger.

Zoom out: India’s paints industry is a ₹70,000+ crore market and one of the fastest-growing in Asia, expanding at around 10-12% rate.

While we are on acquisitions,

Mazagon Dock sails into Sri Lanka

Mazagon Dock Shipbuilders will acquire a 51% controlling stake in Colombo Dockyard PLC (CDPLC) for around ₹452 crore.

Colombo Dockyard, listed on the Colombo Stock Exchange, builds and repairs ships from its base at Graving Dockyard.

The deets: the stake will be bought from Japan’s Onomichi Dockyard Co. Once completed, CDPLC will become a subsidiary of Mazagon Dock.

Why it matters: Mazagon Dock is known for building submarines, warships, and specialty vessels. This acquisition gives it a foothold in Sri Lanka’s ship repair and building market, and expands its operational synergies in a vital maritime corridor.

Big theme: India’s shipbuilding and repair sector serves both commercial shipping and the defence ecosystem. Major state-run players like Mazagon Dock, Cochin Shipyard, GRSE, and Hindustan Shipyard build everything from cargo vessels and dredgers to advanced warships and submarines.

In FY24, India’s shipbuilding order book crossed ₹40,000 crore, and defence contracts remain a key revenue driver.

3. Stocks that kept us interested 🚀

1. Hitachi Energy powers up with Power Grid deal 🔋

Hitachi Energy shares ended in the green after it secured an order from Power Grid Corporation of India.

The deets: Hitachi will supply 30 units of 765-kilovolt (kV), 500 megavolt-ampere single phase transformers.

These ultra-high voltage alternating current transformers are capable of handling power equivalent to the average consumption of 30 million Indian households.

This order aligns with India’s long-term strategy to modernise its power grid in response to the growing demand for reliable energy, driven by the rapid expansion of renewable energy projects and nationwide electrification efforts.

2. ₹230 cr order pushes Western Carriers up ⬆️

Shares of Western Carriers India gained after it secured a ₹230 cr work order from Jindal Stainless for a 3-year integrated EXIM logistics contract.

An EXIM logistics contract refers to a logistics agreement that handles the Export-Import (EXIM) operations of goods.

Western Carriers is a multi-modal, rail-focused logistics company. It offers fully customisable, multi-modal logistics solutions encompassing road, rail, water & other range of services.

The deets: the deal includes rail transportation of containers from various ports to JSL’s plant siding, customs clearance at its Jajpur facility, return movement of empty and export-laden containers, and last-mile delivery to designated container freight stations or shipping line yards.

Why it matters: the order reaffirms Western Carriers India's position as a preferred end-to-end logistics partner for leading industrial houses in India.

4. India’s M&A engine is still humming 💼

India’s M&A scene cooled off in the first half of 2025, with total deal value coming in at $41.5 billion, about 6% lower than the same period last year.

The reason: fewer mega-deals. But don’t mistake that for a slowdown. The number of deals actually went up to 1,577, a 4.6% rise, showing there’s still plenty of appetite, just for smaller, more strategic buys.

What’s getting bought: think healthcare, infrastructure, and financial services. The biggest deal this year was US-based New Mountain Capital’s $2 billion buyout of Access Healthcare, a Chennai firm that helps US hospitals manage billing.

Adani Ports spent nearly as much snapping up Abbot Point Port Holdings in Australia, while Bajaj Holdings bought out Allianz’s stake in their general insurance JV for $1.2 billion. Meanwhile, JSW Paints is buying Akzo Nobel India, and Hindalco picked up a US aluminium chemicals company.

Looking ahead, bankers expect a busy second half. Reliance is eyeing Castrol India, Torrent might pick up JB Chemicals, and multiple groups are bidding for Jaiprakash Industries. Even if the billion-dollar deals are fewer, India’s M&A game is still very much on.