Shein has set its Hong Kong initial public offering for September 1, a slight delay from earlier projections. The company's growth has slowed, and rising costs are impacting investor interest. Shein aims for a valuation between $26 billion and $27 billion, a considerable drop compared to its 2022 fundraising figures.
US Treasury Secretary Scott Bessent has outlined a strategy to ramp up bond buybacks, aiming to enhance market liquidity and instill confidence in economic fundamentals. Simultaneously, a fiscal consolidation initiative is underway, targeting savings in the hundreds of billions. This year's deficit has been exacerbated by refunds of illegal tariffs, while newly imposed tariffs and changes in tax laws are expected to significantly influence future revenue streams.
St. Louis Fed President Alberto Musalem has stated that maintaining higher interest rates is still appropriate due to ongoing inflationary pressures, which remain above the central bank's target of two percent. He prefers a steady approach to rate hikes rather than sudden changes, emphasizing the need for a careful evaluation ahead of the September meeting of the Federal Open Market Committee.
Investment platform Upstox is exploring a potential initial public offering. The company aims to raise approximately USD 350-400 million through this offering. This proposed IPO will include both new shares and an offer-for-sale.
Augmont Enterprises secured Rs 246.3 crore from anchor investors before its upcoming IPO. The company will open its initial public offering for subscription on August 21. Augmont Enterprises plans to use fresh issue proceeds for working capital and inventory. The IPO comprises a fresh issue and an offer for sale component. Shares are scheduled to list on the NSE and BSE on August 31.
Indian equities snapped a seven-session losing streak as falling US bond yields, short-covering and stronger sentiment lifted markets. Sensex surged 628 points and Nifty gained 154 points. Analysts remained cautious, citing elevated crude prices and geopolitical risks despite improving technical momentum.
General Atlantic Singapore Fund sold 1.51 crore KFin Technologies shares worth around Rs 1,400 crore at Rs 925 apiece. Mutual funds bought most of the block, with six funds acquiring shares worth about Rs 1,178.5 crore. KFin shares closed at Rs 961.
Retail traders paid around Rs 25,000 crore in F&O transaction costs during FY26, while nearly 88% incurred losses. Aggregate losses reached Rs 91,685 crore, with options accounting for 92%. Active traders fell sharply, while near-expiry trading remained highly concentrated.
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