The second week of September 2025 has brought a flurry of developments across Indian and global markets — from blockbuster IPO anchors to gold touching new highs. Let’s break down the key stories investors need to know.
🏢 Urban Company IPO Attracts Big Anchors
A day ahead of its IPO opening, Urban Company raised ₹853.87 crore from anchor investors, representing nearly 45% of the total issue size of ₹1,900 crore. The IPO includes a fresh issue of ₹472 crore and an OFS of ₹1,428 crore. Shares were allotted at the upper price band of ₹103 each to 8.29 crore anchor investors. The list of marquee names includes Citi, Goldman Sachs, Government of Singapore, Norwegian Pensions, and Amundi. This strong response underscores global interest in India’s consumer-tech space.
💻 Trump’s Outsourcing Tax May Hurt Indian IT
The proposed 25% outsourcing tax by Donald Trump is expected to hit the Indian IT sector hard. The move will penalize U.S. firms for outsourcing tasks abroad as part of cost arbitrage. This could dent order inflows, pricing power, and long-term contracts for Indian IT companies. Already, U.S. clients are pressing for deeper discounts. If enforced in January 2026, this could reshape outsourcing economics for India’s $245 billion IT services industry.
📡 Vodafone Idea Faces Fresh AGR Demand
Vodafone Idea has filed a fresh writ petition in the Supreme Court, challenging the revised AGR calculation that led to an additional ₹2,774 crore tax demand from the DoT. This comes on top of a previous ₹5,960 crore demand. With equity already diluted to accommodate government ownership, the telco’s finances remain precarious. The AGR battle could decide Vodafone Idea’s survival path.
📈 Srinivas Injeti Appointed NSE Chairperson
The NSE Governing Board has appointed Srinivas Injeti as Chairperson, effective immediately. A retired IAS officer with 40+ years of experience in corporate regulation, finance, and governance, Injeti has led initiatives in global banking, fintech, and sustainable finance. His leadership is expected to steer NSE’s growth and compliance framework in a rapidly evolving market.
🏨 Phoenix Mills Bets Big on Hospitality
Phoenix Mills Ltd plans to triple its hospitality portfolio with ₹3,500 crore+ investment in 4 new hotels. Its inventory will grow from 600 to 1,800 keys, adding properties like the 400-key Grand Hyatt Bengaluru. Already running marquee hotels like St. Regis (Mumbai) and Courtyard by Marriott (Agra), Phoenix is diversifying beyond malls and offices to strengthen its hospitality play.
🛢️ OPEC Plus Output to Pressure Oil Prices
Analysts expect OPEC Plus output to ramp up by late 2025, potentially pushing Brent Crude prices into the $60–70/bbl range, with a downside risk to $55. Rising supply and cautious demand outlook are likely to cap price spikes, despite geopolitical tensions. U.S. inventory build-ups further support the bearish case.
🪙 Gold Hits Record $3,644/oz Amid De-Dollarization
Gold continues its historic run, racing to $3,644/oz, up 35% in six months. The rally is being fueled by:
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Central banks diversifying reserves
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De-dollarization trend worldwide
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Anticipated U.S. Fed rate cuts reducing the cost of holding gold
Meanwhile, the U.S. dollar has weakened 10% since January, aligning with gold’s rise. Investors see gold as both a hedge and a reserve currency alternative.
💳 Hero Fincorp IPO: NBFC Sector’s Next Big Bet
After HDB Financial’s listing earlier this year and Tata Capital waiting in line, Hero Fincorp’s ₹3,688 crore IPO has grabbed attention. The NBFC has turned profitable since FY23 and operates with an omni-channel, asset-light model. Given tighter RBI oversight on large NBFCs, this IPO will be closely watched for gauging investor appetite in the sector.
📌 Conclusion
From Urban Company’s IPO buzz to Trump’s outsourcing tax shock, and from gold’s unstoppable run to oil’s looming correction, the market is being shaped by bold moves and uncertain headwinds. For investors, staying diversified and alert to these shifts could make all the difference.
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