Tue Jan 14 08:18:39 UTC 2025: ## Indian Markets See IPO Activity and Volatility Amidst Rupee Depreciation

**Mumbai, India –** India’s financial markets experienced a flurry of activity this week, marked by several initial public offerings (IPOs) and a weakening rupee. Several SME IPOs saw strong debuts, including Avax Apparels and Ornaments Ltd (up 90%), Delta Autocorp (up 35%), and Quadrant Future Tek (up 28%), although the latter fell slightly short of pre-listing expectations. B.R. Goyal Infra debuted with a marginal gain. Meanwhile, larger IPOs are on the horizon, with Urban Company aiming for a Rs 3,000 crore offering by March, and Apollo Global Management exploring a potential $2 billion listing of Tenneco Inc.’s Indian business.

The Indian rupee hit a record low against the dollar this week, impacting Indian companies. Sterlite Grid, for instance, opted for domestic funding for a Rs 2,450 crore loan refinance due to increased dollar hedging costs associated with offshore borrowing. This situation underscores the challenges faced by Indian businesses in the current economic climate.

Elsewhere, the National Company Law Tribunal (NCLT) in Mumbai faced disruptions due to a staff strike over delayed salaries. Wholesale inflation rose to 2.37% in December. The Traders Gurukul’s BOTS options trading summit continues to attract traders across India. Finally, market analysts are advising investors to carefully consider investments in IT or banking sectors, given current market conditions.

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