India's Securities and Exchange Board of India has granted IPO approvals to four companies, with Avaada Electro drawing the most attention as the solar PV manufacturing arm of Brookfield-backed Avaada Group. Sebi issued its observations on Avaada Electro's confidential draft red herring prospectus, which was filed in October 2025, clearing the path for a public listing. Chennai-based Grand Housing will proceed with a pure offer-for-sale structure, meaning the IPO proceeds flow entirely to the promoter rather than the company's balance sheet. The OFS format signals the promoter is seeking an exit or liquidity event rather than raising fresh capital for operations or expansion. Avaada Electro's listing will test investor appetite for domestic solar manufacturing amid India's ongoing push to scale renewable energy capacity. The Brookfield affiliation adds institutional credibility, which typically supports anchor investor interest at the book-building stage. Market participants will watch the pricing range and anchor allocation closely once the final prospectus is filed.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
