News Brief

Morning Brief: 2025 Set For Record Number Of Start-Up IPOs; Cold Wave Grips North India, Orange Alert In Place; Indian Batting Order Crumbles In Sydney

Swarajya Staff

Jan 03, 2025, 09:00 AM | Updated 08:59 AM IST


Your morning briefing is here.
Your morning briefing is here.

Here's a roundup of the must-read stories to kickstart your day.

2025 Set For Record Number Of Start-Up IPOs

The year 2025 is expected to see a record number of start-up IPOs, with nearly 25 companies preparing to go public, almost double the number from 2024. High-profile start-ups like Ather Energy, Bluestone, Avanse, Aye Finance, and Captain Fresh are among those expected to make their public debuts. Other companies such as Zepto, PhysicsWallah, PayU, Pine Labs, and Shadowfax are also gearing up for IPOs.

In 2024, 13 new-age tech start-ups raised over $3.4 billion through public listings, showcasing the growing trend. Venture capitalists are optimistic about the IPO market, with strong demand and supply trends.

Cold Wave Grips North India, Orange Alert In Place

North India, including Delhi and its neighbouring areas, continued to experience an intense cold wave on Friday morning, with dense fog reducing visibility and disrupting traffic. In the National Capital Region, this marked the fifth day of extreme weather, with Delhi witnessing a sharp drop in maximum temperature.

At Delhi airport, visibility was down to 50 metres, and runway visibility fell to zero at 7 am, potentially affecting flights not equipped with CAT III technology. The India Meteorological Department issued an orange alert for dense fog in Delhi and forecast a partly cloudy sky. In Noida, schools for classes up to 8 were closed indefinitely due to the cold, with temperatures expected to drop to 8 degrees Celsius.

Indian Batting Order Crumbles In Sydney

India’s batting order faltered on Day 1 of the fifth Test against Australia in Sydney, with Shubman Gill (20), KL Rahul (4), and Yashasvi Jaiswal (10) falling early, while Virat Kohli’s struggles continued after being dismissed by Scott Boland. Jasprit Bumrah, leading the side in Rohit Sharma’s absence, won the toss and chose to bat, with India making two changes: Shubman Gill and Prasidh Krishna replacing Sharma and Akash Deep.

Bumrah praised Rohit’s leadership at the toss, explaining his decision to rest for this match. Australia also made a single change, handing Beau Webster his debut in place of Mitchell Marsh, as Pat Cummins hoped to exploit the overcast conditions. With Kohli’s technical issues unresolved and no home Tests before the England tour, questions loom over his form and India’s plans moving forward.

Other Developments

India's Manufacturing Activity Hits 12-Month Low

India’s manufacturing growth slowed to its lowest in 12 months in December, with the HSBC Purchasing Managers' Index (PMI) dipping to 56.4 from 56.5 in November. However, the overall average PMI for 2024 showed stronger performance, rising to 57.5 compared to 2023. The survey pointed to slower growth in new orders, suggesting that production may slow down in the coming months. Manufacturers faced higher costs for materials, labor, and containers, leading to higher selling prices. Despite this, employment in manufacturing grew for the tenth month in a row, and manufacturers remain hopeful for 2025, expecting more output despite concerns over inflation and competition.

FinMin to Relax Expenditure Limits For Q4 Growth Boost

To stimulate growth in the January-March quarter, the Finance Ministry is considering allowing certain ministries and departments to exceed their usual expenditure limits. This move follows a slowdown in capital expenditure during the April-September period, which has impacted overall economic growth.

Under current cash management rules, ministries are typically allowed to spend up to 25 per cent of their annual budget in each of the first three quarters, with a 33 per cent cap in the fourth quarter. For the final month of the fiscal year, a 15 per cent limit is applied to help manage cash flow. Relaxations will be granted on a case-by-case basis, with no blanket approval, according to a senior government official.

US NSA Jake Sullivan to Visit India Next Week

US National Security Advisor Jake Sullivan will visit India next week as the Biden administration nears the end of its term and prepares for the transition to a potential second Trump presidency. Sullivan, a key figure in managing global conflicts, has played a central role in handling crises such as the Russia-Ukraine war, tensions with Iran, and the Israel-Gaza conflict. Jaishankar recently visited Washington, where he held discussions with Sullivan and US Congressman Michael Waltz, who is likely to succeed him. Sullivan's visit will focus on reinforcing the iCET initiative, a critical US-India partnership on emerging technologies like AI, quantum computing, and semiconductors.

South Korea: Investigators Attempt To Arrest Impeached President Yoon

Investigators in South Korea attempted to arrest impeached President Yoon Suk Yeol at his residence on Friday over a failed martial law declaration, but local media reported that security forces were preventing their efforts. Yoon, already suspended from duty by lawmakers, would become the first sitting president in South Korea’s history to be arrested if the warrant is executed.

The president faces serious charges after issuing a flawed martial law declaration on December 3, which temporarily threatened the country's democratic stability. The Corruption Investigation Office confirmed that the arrest warrant execution began, with officials entering Yoon's residence despite heavy security. However, the investigators were initially blocked by a military unit inside, before pushing past to confront security services within the residence.

UP: Anupriya Patel Backs Husband's Allegations Against UP STF

Union Minister of State Anupriya Patel supported her husband, Uttar Pradesh minister Ashish Patel, who accused the state STF of conspiring against him and threatening his life, asserting that their party, Apna Dal (Soneylal), would defend its workers’ dignity. Both leaders reiterated their loyalty to the NDA and Prime Minister Narendra Modi while Anupriya convened a meeting with party leaders in Lucknow.

Ashish claimed other ministers faced similar issues but remained silent due to "helplessness," while he vowed not to resign, daring authorities to dismiss him instead. He refrained from disclosing if he had spoken directly to Chief Minister Yogi Adityanath about the allegations. Anupriya, when asked about raising the matter nationally, remarked that the country’s leadership, including the Prime Minister, is already aware of everything.

Stay tuned for more insights throughout the day.


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