Newsletter
Good morning and Happy New Year, folks!
Youāre allowed to say that until January 7, so use it generously this week.
This year hasnāt been without its challenges, but having you along for the ride has made all the difference.
2024 was unique. Markets ripped, so did inflation, Trump back for round 2, and AI is out to replace each one of us.
2025 could see the continuation of some of that.
For now hereās a quick look at the most important headlines going in:
1 Big Thing: Year of pivots for Mota Bhai š°
Reliance's goal for 2024 was definitely to diversify its usual business, and theyāve done just that.
Reliance spent a whopping $13 billion on just acquisitions over the past five years.
Worth noting: Reliance put 48% of its acquisition budget into technology, media, and telecommunications, while also investing in new energy and healthcare.
In healthcare, the Karkinos healthcare deal for ā¹375 crore stands out. With Karkinos, Reliance aims to innovate in cancer care through early detection and management solutions.
- This adds to its growing healthcare stack, following investments in companies like Netmeds and Strand Life Science.
Other notable moves include buying Hathway Cable for $981 million and solar panel maker REC Solar for $771 million.
The deals underline Relianceās efforts to reduce its dependence on its core oil and petrochemicals business and double down on high growth sectors relevant to new India.
2. IPOs that kept us interested š
First day of the new year, and weāre already seeing major moves in the IPO space.
Anthem Biosciences, an Indian contract drugmaker, has filed preliminary papers with SEBI for an IPO to raise up to ā¹3,395 crore.
What do they do: founded in 2007, the company offers early-stage drug discovery, drug efficacy testing, and manufacturing of active pharmaceutical ingredients.
It operates two manufacturing facilities and competes with companies like Syngene International and Divi's Laboratories.
Whatās new: Anthem hopes the timing of the IPO matches well with an ongoing worldwide shift from drugmakers to shift away from Chinese manufacturers, favoring India based pharma companies.
While we are on IPOs,
Unimech Aerospace made a stellar debut on the stock exchanges yesterday, after shares listed at ā¹1,491 on the BSEāalmost 90% higher than its issue price.
The ā¹500 crore IPO, generated massive investor interest and signals strong market confidence in emerging aerospace players and their growth potential.
Zoom out: Indiaās IPO market continues to thrive, with over 200 companies raising close to $11.2 billion in 2024.
3. Startup engine revved strong in 2024 š
2024 was a mixed bag for Indiaās startup ecosystem.
Funding dipped 6.5% to $30.4 billion but the sector proved its resilience, with several startups reaching unicorn status, including Rapido, Ather, and MoneyView.
Sectors like gig economy, retail, and quick commerce led the charge, with Zepto, Blinkit, and Swiggy Instamart making major moves and Swiggy itself going public.
The governmentās decision to abolish angel tax also provided a much-needed lift to the startup ecosystem.
Zoom out: in 2025, technologies like AI are set to drive the next wave of investment, and the AI market alone is projected to reach $190 billion globally by 2025.
4. Acquisition spree continues š§³
Curefoods has acquired Krispy Kremeās operations in South and West India from the Landmark Group.
Context: the Landmark Group is a retail and hospitality powerhouse that has brought global brands like Krispy Kreme, Lifestyle, and Max to India.
The hype: Curefoods plans to add 350 new Krispy Kreme locations in the next five years, positioning itself to lead Indiaās rapidly growing cloud kitchen and F&B market.
While we are on acquisitions,
Nvidia has acquired Israeli AI infrastructure startup Run:ai for $700 million.
Run:ai specializes in optimizing AI hardware infrastructure, which means making it easier and more efficient for companies to manage and scale their AI workloads.
Nvidia has been on an aggressive expansion strategy lately and acquired 4 other companies as of 2024 to fill gaps mostly in its software portfolio.
What else are we snackinā šæ
š» GTA 6 dominates: the new GTA 6 trailer smashed records, racking up 230M+ views within just a year of its debut.
š® Attacked: Thomas Cook India was hit by a cyberattack, disrupting operations and forcing shutdown of IT systems.
š±No more cap: The NPCI has lifted the 100 million user cap on WhatsApp Pay, allowing all 500 million users in India to access the service.
š Space plans: India launched two satellites for its first space docking experiment, advancing its plans for a space station and manned moon mission.
Thatās a wrap! Donāt let the Weekday blues get to you.
And if youād like to place your brand on this newsletter, let us know.
Hit that š if you liked this issue.
