Published on: 03 October 2025
RBI Holds Rates Amid Global Uncertainty
When the RBI MPC announced its monetary policy on 01-October, there were hopes of another rate cut on the back of the Fed rate cut and low domestic inflation. The RBI opted to keep rates on hold for now, to ensure they had more options available should the tariffs and steep visa fees start to pinch growth. For now, the RBI is betting on the GST cuts to boost consumption and economic growth, while low inflation would keep real GDP growth buoyant. Clearly, the RBI is being extra cautious amid macro uncertainties.
WeWork India Anchor Allocation
WeWork India Management completed allocation of shares worth ₹1,348 crore to anchor investors on Wednesday. The anchor portion constitutes 44.94% of the total issue size of ₹3,000 crore. The price band for the IPO was set at ₹615 to ₹648 per share. Promoter Embassy Buildcon will be the big seller in the OFS, and there is no fresh issue portion in the IPO. WeWork allocated 208.07 lakh shares to 67 anchors at the upper band price. Marquee anchors included Goldman, Amundi, Allianz Global, BNP Paribas, SOCGEN and others.
RBI Relaxes IPO Financing & LAS Norms
The RBI increased the IPO financing limit from ₹10 lakh to ₹25 lakh per person, and the cap for LAS from ₹20 lakh to ₹1 crore per person. The regulatory ceiling on lending against listed debt securities stands removed. Many of these limits had not been updated in more than 20 years and called for revision. It also reflects on the ability of banks to manage risks better and to support capital markets.
September Auto Sales Pick Up
September may have been tepid for auto sales overall, but the specific sale of passenger vehicles (PVs) showed a pick-up on reduced GST impact. Dispatches of cars and SUVs rose 5.42% yoy to 381,437 units in September 2025. The latest GST Council meet had lowered the GST on mass-market vehicles to 18% from 28%. Festive season also added colour to demand. Maruti Suzuki is planning to boost the capacity, while Tata Motors regained the No.2 position selling over 60,000 vehicles.
RBI Plans Withdrawal of Large Borrower Disincentives
Due to a fall in bank lending to corporates over the years, RBI proposes to withdraw the framework which disincentivises lending by banks to specified borrowers having a credit limit of ₹10,000 crore and above. These guidelines, introduced in 2016, were aimed at pushing large borrowers to tap debt markets. The RBI now wants to manage concentration risk at macro levels instead of at the level of each individual bank.
US Senators Target H-1B Visa Usage
US senators have written to 10 biggest H-1B employers in the US; including Amazon, Meta, Apple, JPM, Microsoft, and TCS. The concern is that these companies filed thousands of H-1B petitions just after big layoffs of American workers. Rising unemployment among American graduates is fuelling the debate, with TCS also being investigated under equal opportunity regulations.
SKF India Demerger Plan
SKF India announced the demerger of its industrial business. The new entity will be listed by November. For every 1 share held in SKF India, shareholders will get 1 share of SKF Industrial. SKF India will continue as the automotive entity, while SKF Industrial will invest up to ₹950 crore including a new plant in Pune by 2028, driving growth in infrastructure, railways, renewable energy, and heavy industries.
New DRHP Filings: Runwal Developers & Sterlite Electric
Runwal Developers filed its DRHP with SEBI for its proposed IPO to raise ₹2,000 crore, comprising a fresh issue of ₹1,700 crore and an OFS of ₹300 crore. Fresh funds will be used for debt repayment. Separately, Sterlite Electric (Vedanta group) filed its DRHP to raise ₹1,500 crore through a fresh issue and OFS. Proceeds will go towards debt repayment and capital expenditure needs.
