The Morning Context

#PublishedThisWeek The Securities and Exchange Board of India (SEBI) plans to tighten regulations for small and medium-sized enterprise (SME) IPOs. The move aims to enhance disclosures, curb speculative investments in this high-risk segment, and protect smaller investors from significant losses. SEBI released a consultation paper last week, open for public feedback until December 4. Disha Acharya examines how SEBI's proposed measures could address challenges in the sector. https://lnkd.in/gMyYEdvP

#PublishedThisWeek Court testimonies have revealed how an alleged attempt may have been made between Byju Raveendran and Dubai-based businessman Rajendran Vellapalath to help transfer over control of some key US assets after the ed-tech company defaulted on a $1.2 billion term loan B. Involuntary bankruptcy petitions were filed by US-based Glas Trust against companies acquired by Byju’s for hundreds of millions of dollars in June. In today’s lead, read insights from reviewing hundreds of court documents and hours of court proceedings. Pradip Kumar Saha dives in: https://lnkd.in/ghik9BeY

#PublishedThisWeek Shareholders of Adani Total Gas can’t seem to catch a break, with the company’s shares losing 85% of their value since their peak in January 2023. Following the US charges, TotalEnergies SE, which holds a 37.4% stake in the joint venture with Adani, announced it would halt any new investments in the Adani Group. Even before the US action, India’s largest private gas distributor was struggling to convince investors of its growth potential. As it stands, ATGL shareholders face a tough choice: cut their losses or hope for a miracle. Azman U. explains why Adani Total Gas shareholders need to worry. https://lnkd.in/gzPF_YmK

#PublishedThisWeek Netflix was the first major streaming platform to crack down on account sharing. Other platforms like Disney+, Hulu, and HBO Max were quick to follow.Recent financial results from Disney and Netflix suggest that the strategy is working. Disney+ reported a 4.4 million jump in subscribers. However, this increase is likely temporary, as it doesn’t address the root cause of the issue that led to the crackdown. Sethu Pradeep explains: https://lnkd.in/gtUz3huY

#PublishedThisWeek Gen Z is surprisingly driving a shift among Indian consumers toward sustainable, healthy, and premium options. Despite making up just 27% of the population, they account for 43% of current consumer spending in India on products ranging from skincare to cars. Brands have taken note of their purchasing power and are fine-tuning their offerings accordingly. Disha Acharya dives deeper into this: https://lnkd.in/dwWk9fdA

#PublishedThisWeek Exclusive: Anand Jain, who grew up with Dhirubhai’s son Mukesh, played several key roles for the Ambanis. However, he suddenly disappeared from the corridors of Reliance during the 2008 financial crisis triggered by the collapse of Lehman Brothers, only to re-emerge increasingly associated with his family firm, Jai Corp. Now, since January 2023, Jain is back in the spotlight. He and his family own a portfolio of projects estimated to be worth 4x their initial investment. He may also have used a sleight of hand to acquire assets that once belonged to about 800 investors. How did the 67-year-old craft the deal of a lifetime? Surendar T investigates: https://lnkd.in/dBndQxiP

#PublishedThisWeek Apple’s immense popularity and its annual revenues nearing the $400 billion mark significantly impact the fortunes of companies within its supply chain. Tata is quickly ascending this ladder, capitalising on Apple’s growing focus in India. What’s driving Tata’s rapid growth in the iPhone supply chain? Maanav D J investigates: https://lnkd.in/dPuYpzXw

#PublishedThisWeek There’s no definitive playbook for Indian startup boards. Yet, many—Paytm, Byju’s, BharatPe, Housing.com, and even Flipkart—have faced criticism for lapses in accountability. So, what exactly is the role of a board in Indian startups? Harveen Ahluwalia investigates: https://lnkd.in/dUEXVMAe

#ICYMI Exclusive: OYO, once promising consistent quality, now lists hotels for a 29% commission, bowing to market pressures to cut losses. Story #2: BSNL gained 6.3 million subscribers as competitors shed millions after raising tariffs. https://lnkd.in/d9vHXaiv

The Competition Commission of India (CCI) has ordered an investigation into Google for alleged antitrust violations following a complaint by online gaming company Winzo Games Private Ltd. Disha Acharya reports: https://lnkd.in/d5-4mgUw