Zetwerk plans an IPO, Government wants reels, and A chip bet.
āļø Good Morning, itās Monday.
Markets tried to keep the party going but lost steam fast.
Sensex & Nifty ended flat, as IT stocks dragged the mood down.
š” Spotlight: Indiaās auto market had a mixed February. Passenger vehicle sales hit a record 3.8 lakh units, up 2% YoY, while two-wheelers stalled.
Three-wheelers, however, picked up pace, showing a shift in consumer demand.
Letās hit it!
1 Big thing: Zetwerk is gearing up for an IPO š°
Zetwerk, the marketplace for precision components and bespoke manufacturing, is prepping for an IPO, aiming to raise up to $500 million at a $5 billion valuation.
The IPO could still be 15 months away though, thanks to the ongoing market slump.
What to know: Zetwerk services customers across a wide range of industries, from aerospace to consumer electronics. The business was valued last at $3.1 billion.
The twist: Zetwerk started as a platform connecting manufacturers with customers, but it's now becoming a manufacturer itselfābuilding the very products its clients need.
- Last week, the company launched its 7th manufacturing facility in Chennai, this one dedicated to electronics manufacturing.
While weāre on IPOsā¦
LG Electronics India just got SEBIās nod for a ā¹15,000 crore IPO.
The offering is entirely an offer for sale (OFS) and will see parent company LG offload a 15% stake.
If it goes live soon, this could be Indiaās fifth-largest IPOājust behind Hyundaiās blockbuster ā¹27,870 crore listing last year.
2. Scopely is catching āem all š®
Niantic, the company behind PokƩmon GO, is selling its gaming business to Scopely in a $3.5 billion deal.
This comes as one of the biggest gaming acquisitions in recent years.
Scopely is a leading mobile gaming company known for developing and publishing popular live-service games
Why it matters: this means PokĆ©mon GO, Pikmin Bloom, and Monster Hunter will now live under Scopelyās umbrella.
The backstory: Niantic originally set out to build a future around augmented reality (AR), but struggled to scale its platform beyond PokƩmon GO.
By the numbers: Niantic's games still pull in over 30 million monthly players, and PokƩmon GO alone hit 100 million unique players in 2024, nearly a decade after launch.
The franchise has remained a top 10 mobile game every year since launch, generating over $1 billion in revenue last year.
3. GOI bets on creators ā
The government just announced a $1 billion fund to back India's digital creators.
The deets: through this fund, the government plans to provide digital creators with better tools, access to capital, and resources to scale globally.
It also includes setting up the Indian Institute of Creative Technology (IICT) near Mumbaiās Film City to train the next generation of content creators.
Information and Broadcasting Minister Ashwini Vaishnaw highlighted that this fund will empower creators to enhance their production quality and expand their international presence.
And of course, itās a big win for influencers looking to turn their side hustle into a full-blown business.
Worth noting: as part of this fund, India is also launching WAVES (World Audio Visual & Entertainment Summit) from May 1-4 in Mumbai, aimed at connecting creators, investors, and global media leaders to push Indiaās content industry onto the global stage.
With 850 million+ internet users and a booming creator economy, Indiaās digital content scene is already thriving. This fund could help push it further into the global spotlight.
4. Softbankās new data center š¤
SoftBank just dropped $676 million to buy and convert a former Sharp LCD factory into a next-gen AI data center.
Why it matters: the Osaka, Japan based facility is set to become one of Japanās largest AI data centers, fueling everything from OpenAI model training to enterprise AI solutions.
AI models need serious computing power, and data centers are the backbone of this new AI era. By securing its own facility, SoftBank reduces reliance on third-party cloud providers.
SoftBank is also eyeing a $25 billion investment in OpenAI at a staggering $300 billion valuation.
Big picture: with OpenAI, Oracle, and other giants ramping up AI data centers in the U.S., SoftBank is making sure Japan isnāt left behind.
The factory-turned-data-center is set to go live in 2026.
While weāre on acquisitionsā¦
Coromandel International picked up a 53% stake in agrochemical firm Nagarjuna Agrichem (NACL) for ā¹820 crore.
Coromandel is an agri-solutions company specializing in fertilizers, crop protection, and specialty nutrients.
The move strengthens Coromandelās crop protection business, adding NACLās manufacturing and R&D capabilities to its arsenal.
With Indiaās agrochemical market set to hit $14.5 billion by 2028, this deal positions Coromandel for serious growth.
5. Major stock market moves to keep up with š
- L&T, a global giant specializing in infrastructure, power, and water management, secured a ā¹2,500-5,000 crore order in Saudi Arabia to build a massive desalination plant with ACWA Power. L&T company is a global EPC giant specializing in infrastructure, power, and water management. The project will convert seawater into drinking water, expanding L&Tās Middle East presence.
- VA Tech Wabag jumped 2.4% after bagging new orders from Indian Oil and GAIL to build wastewater recycling plants. VA Tech, a leader in water treatment solutions, also won a ā¹20 crore repeat operation & maintenance order from IOCL for its Panipat refineryās water recycling facility.
- Polycab India, a top manufacturer of electrical wires, cables, and network solutions, secured a ā¹3,003 crore contract from BSNL to build and maintain the BharatNet middle-mile network in Bihar. This deal will boost rural internet expansion. The company will manage material supply, installation, and network operations.Share
6. Story in data ā Space momentum š”
Indiaās space program has always been known for doing more with lessābut now, with satellite demand rising and private sector interest growing, the country is putting more money behind its ambitions.
Furthermore, the push toward commercialisation and private investment is opening new opportunities.
As more investment follows, India could rapidly scale up satellite manufacturing, commercial launches, and further deep space programs.
Globally the space economy is expected to hit $1 trillion by 2040.
What else are we snackinā šæ
š Chip shift: tech veteran Lip-Bu Tan is taking over as Intelās CEO, replacing Pat Gelsinger, who stepped down in December.
š Space steps: ISRO successfully de-docked SpaDeX satellitesāa key move for future moon missions, human spaceflight, and Indiaās space station ambitions.
š° Future finance: SBI is launching a new unit to fund AI, e-commerce, and fintech, expanding beyond its traditional infra financing.
š± Gemini takeover: Google is replacing Google Assistant on Android phones with Gemini later this year.
Thatās a wrap! Donāt let the Monday blues get to you.
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