Newsletter
ICICI IPO, Meta makes a smart acquisition, and Navy gets a upgrade.
š Morning, folks!
Markets cooled off a bit on Tuesday, ending a quiet session in the red as investors waited for cues from President Trumpās next move on trade tariffs.
The Nifty and Sensex slipped slightly, while broader markets held firm, showing signs of quiet strength beneath the surface. Sectoral trends were still muddled, with no clear winners yet.
š” Spotlight: SIPs just hit a fresh record.
Retail investors poured ā¹27,269 crore into mutual funds via SIPs in June, the highest ever, and the first time flows have crossed ā¹27K crore. Thatās a 2.2% bump from May.
Even better? The number of SIP accounts hit 9.19 crore, with 62 lakh new ones added in a single month. Gold ETFs and hybrid funds also saw a spike in traction.
The takeaway: volatility might spook the markets, but Indiaās retail investors are playing the long game, and staying the course.
Letās hit it!
1 Big thing: ICICI AMC joins the IPO club š¼
ICICI Prudential Asset Management Company has filed preliminary papers with the SEBI aiming to launch an IPO that could raise up to ā¹10,000 crore.
The company is the second largest mutual fund house in terms of managed assets in India
The deets: the listing will value the firm at around $12 billion.
But hereās the kicker, itās a pure OFS. All 1.76 crore shares will be sold by foreign partner Prudential Corporation Holdings, so none of the IPO money goes to the company itself.
Why it matters: this would make ICICI AMC the fifth ICICI Group company to go public, and the fifth listed AMC in India, joining HDFC AMC, Nippon India, Aditya Birla Sun Life, and UTI AMC.
Big theme: Indiaās asset management industry has more than doubled in size in the last five years, with total AUM hitting ā¹55 lakh crore. Rising SIP flows, digital access, and strong retail participation are giving AMCs a serious growth runway.
While we are on IPOs,
Anthem Biosciences is set to launch its IPO next week to raise ā¹3,395 crore.
The deets: Anthem Biosciences is a tech-driven CRDMO offering end-to-end services from drug discovery to commercial manufacturing.
CRDMO stands for Contract Research, Development, and Manufacturing Organisation.
Itās a type of company in the pharmaceutical and biotech industry that provides end-to-end services to other drug companies.
The IPO comprises solely of offer-for-sale by existing shareholders including promoters.
Why it matters: As one of Indiaās leading CRDMOs with global clientele, Anthemās IPO comes amid rising investor interest in life sciences and outsourced pharma services.
2. Meta doubles down on smart glasses š¶ļø
Meta just picked up a minority stake in EssilorLuxottica, the worldās largest eyewear company and the maker of Ray-Ban and Oakley, deepening its play in the growing smart glasses category.
The deets: Meta acquired just under 3% of EssilorLuxottica for about $3.5 billion and is reportedly considering increasing its stake to 5%.
While both companies have been partners since 2021, launching Ray-Ban smart glasses with built-in cameras and an AI assistant, this move marks a more serious hardware commitment from Meta.
Why it matters: unlike smartphones, which are controlled by Apple and Google, smart glasses could give Meta a chance to own the hardware layer and control its own distribution channel. Thatās a big deal in Zuckās push toward an AI future.
Metaās bet is that glasses could become the next computing platform, blending hardware, AI, and distribution into one mainstream product.
Zoom out: the global smart glasses market is projected to quadruple by 2030, and Meta isnāt the only one circling. Apple, Google (via Kering), and Xiaomi are all chasing the trend.
3. Zepto eyes fresh funds šø
Zepto is set to raise $450 - $500 million in a fresh funding round. This will value the company at around $7 billion.
The deets: the funding will be led by existing backers General Catalyst, Avenir and others. The fresh valuation of $7 billion is a 40% increase from $5 billion that Zepto had commanded in its fund raise last year.
Worth noting: this development comes shortly after Zepto postponed its planned IPO to 2026.
More on venture street,
Credit Wise Capital has raised ā¹200 crore in its first institutional funding round led by Trident Growth Partners.
The deets: Credit Wise Capital is a non-banking financial company focused on two-wheeler and MSME lending. It plans to use the capital to expand its secured loans and tech-enabled lending solutions across Tier II to IV cities.
Why it matters: NBFCs like Credit Wise Capital serve Tier IIāIV cities and rural India, where traditional banks often under-serve borrowers. This funding will enable them to scale operations and bridge the credit gap for millions.
4. Stocks that kept us interested š
1. Adani Wind powers Synergy surge
Synergy Green jumped nearly 5% after bagging a fresh order for 3.3 MW turbine parts from Adani Wind.
Synergy Green is a Kolhapur-based castings manufacturer & the company already supplies bearing housing parts for Adaniās 5 MW turbines.
Zoom out: India aims to reach 140 GW of wind power by 2030 as part of its clean energy goals. That means more turbines, more local manufacturing, and more players like Synergy Green.
As of June 2025, Indiaās installed wind energy capacity has hit 51.3 GW, making it the fourth largest wind market globally after China, the US, and Germany.
2. Navy goes AI for sea watch š
Indian Navy signed a turnkey deal with BEL to upgrade Indiaās maritime security network with AI-enabled tech.
The deets: the company will execute the National Maritime Domain Awareness (NMDA) Project, which aims to enhance coastal and maritime security.
Why it matters: the existing NC3I (National Command, Control, Communication and Intelligence) Network will be upgraded to a more advanced NMDA Network. It will feature AI-powered software for faster data collation, analysis, and real-time sharing among maritime stakeholders.
Big theme: the Indian Navy is now using AI to keep our seas safer and smarter. For example, in the new NMDA project, AI helps track ships and detect threats using data from radars and cameras.
The Navy is also testing smart underwater robots that can scan the sea floor and find hidden dangers.
What else are we snackinā šæ
šŖMake-in-India Push: the Indian government is planning an incentive program worth as much as $290 million for private sector firms manufacturing rare earth magnets.
š Pink slips: Intel plans to lay off over 500 employees as part of a broader cost-cutting plan. This is expected to impact roughly 20% of the companyās workforce.
š EV Hub: UP plans ā¹700 crore EV park in Kanpur with a manufacturing cluster, R&D centre, and SME zone to boost its EV leadership.
Thatās a wrap! Donāt let the weekday blues get to you.
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