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Phoenix Mills Ltd.

The case has been registered on the basis of a complaint filed by Kishor Balram Nichani, who alleged that buyers of commercial units in the project were systematically cheated despite making full payments

In this briefing: Primer: Sify Technologies (SIFY US) - Nov 2025 Groww IPO - Peer Comp and Thoughts on Valuation Meesho Ltd Pre-IPO Tearsheet Thematic Report: Forging a 300 MT Behemoth as India’s Steel Capex Super-Cycle Accelerates HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills... 1. Primer: Sify Technologies (SIFY US) - Nov 2025 Sify Technologies is a comprehensive ICT service and solution provider in India, strategically positioned to capitalize on the country's digital transformation, with core services in data centers, network, and digital services. The company is in a high-growth phase, marked by significant capital expenditures in expanding its data center capacity to meet the burgeoning demand driven by cloud adoption and the advent of AI, leading to near-term pressure on profitability. While revenue has been growing, the company faces challenges with net losses and high debt levels, making the successful and timely monetization of its new assets critical for its long-term financial health and shareholder returns.

In this briefing: Groww IPO - Peer Comp and Thoughts on Valuation Meesho Ltd Pre-IPO Tearsheet Thematic Report: Forging a 300 MT Behemoth as India’s Steel Capex Super-Cycle Accelerates HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills... India: Potential Free Float Changes & Passive Flows in November 1. Groww IPO - Peer Comp and Thoughts on Valuation Groww (1573648D IN) is looking to raise around US$747m in its India IPO.Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services. With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans. In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the peer comp and implied valuations in the price range. 2. Meesho Ltd Pre-IPO Tearsheet Meesho (1546271D IN) is looking to raise about US$484m in its upcoming India IPO.

In this briefing: HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills... India: Potential Free Float Changes & Passive Flows in November Maruti Suzuki Ltd - Export-Led Growth Aids Performance Automotive Axles Ltd - New Business Model Unlocks Margin Upside Shriram Finance Ltd. - Inline Quarter; Growth Outlook Optimistic! 1. HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills... Maruti Suzuki: Maruti Suzuki’s (MSIL) Q2FY26 EBITDA margin at 10.5% was in line with Bloomberg consensus estimate of 10.6%, but above our estimate of 10.2% We expect margins to improve going forward as capacity utilization improves on the back of higher PV demand, ramp-up of the Victoris model, and increasing exports We expect exports to continue to do well over the medium term, benefitting from the company’s efforts over the last few years to improve penetration across markets, including developed markets, and with a wider portfolio and improving mix Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.