☕ Happy Thursday aka Friday Juniorrrr!

If August feels like it’s throwing curveballs faster than Jasprit Bumrah in the death overs, you’re not wrong 🎯. From gaming bans to pharma mega-deals, today’s brew is extra strong. Let’s get sipping.

📰 Chai Shots

• 💊 Aurobindo Pharma in Zentiva Talks, Shares Fall: Reports of a $5–5.5B bid for Czech drugmaker Zentiva sent Aurobindo Pharma’s shares tumbling nearly 5%. The company clarified no deal is final yet, but investors remain cautious. If signed, it would be the largest-ever overseas acquisition by an Indian pharma company. More in the Big Brew! 👇

• 🛡️ Insurance Premiums May Get GST Relief: The GST panel is considering scrapping the 18% tax on health and life insurance premiums, a move that could cut policy costs by nearly 15% this Diwali. States fear revenue losses, and insurers warn consumers may not see the full benefit if input tax credits vanish.

• 🎲 Gaming Bill Spooks Markets: Shares of gaming major Nazara plunged over 7% after the Union Cabinet approved the Online Gaming Bill, which will outlaw all money-based gaming apps. Startups warn the ban could erase $3B in investments and threaten 2 lakh jobs.

• 🛰️ Starlink Partners with UIDAI for Aadhaar KYC: Elon Musk’s Starlink has secured approval as a sub-eKYC user agency, allowing it to onboard customers in India using Aadhaar. The move comes just weeks after it received final clearance for commercial launch.

📈 Market Masala

• 📊 Sensex, Nifty Push Higher: Markets extended their rally with the Sensex closing at 81,858 (+213 points) and the Nifty crossing 25,000 for the first time. IT and FMCG led gains while pharma and media lagged. Mid- and small-caps outperformed as investors cheered GST reform chatter.

• 🏦 RBI Governor Sees Growth Holding Steady: Sanjay Malhotra said India’s 6.5% growth projection remains intact despite tariff tensions. Inflation cooled to an eight-year low of 1.55% in July, though prices may rise again later this year. The repo rate stays unchanged at 5.5%.

• 🧱 UltraTech to Sell Stake in India Cements: UltraTech Cement will offload up to 6.49% of its holding in India Cements. Chairman Kumar Mangalam Birla said the company is on track to exceed 200 MTPA capacity by FY26, making it the world’s largest cement seller outside China.

• ⚖️ Rapido Slapped with ₹10 Lakh Fine: The consumer watchdog penalised Rapido for ads promising “Auto in 5 mins or get ₹50,” ruling the campaign deceptive since the cashback was just in-app coins valid for a week.

• 🌍 Adani Units Lock $275M Offshore Loans: Adani Airport Holdings borrowed $150M from global banks, while Adani Ports raised $125M from MUFG. The group has secured over $10B in new credit in six months, prompting S&P to upgrade the outlook on three Adani companies.

🌍 Global Masala

• 📉 Wall Street Slips as Tech Weakens: The S&P 500 fell for a fourth day, while the Nasdaq dropped 0.67% as investors trimmed Big Tech and chip stocks. Intel tanked 7%, Apple and Amazon fell nearly 2%, and Target sank 6% after poor sales and a leadership change.

• 🛫 Air Canada Strike Ends: A deal with 10,000 flight attendants ended a disruptive strike that stranded nearly half a million passengers. The agreement guarantees pay for ground duties, but full flight schedules may take up to 10 days to resume.

🍵 The Big Brew: Aurobindo Pharma’s $5.5B Bet

India’s pharma sector may soon see its biggest deal ever. Aurobindo Pharma is leading talks to acquire Czech generic drugmaker Zentiva from Advent International for $5–5.5B (₹43,500–₹47,900 crore).

Here’s the full picture:

• 💊 Deal Size: If sealed, this would surpass Biocon’s $3.3B Viatris buyout and Daiichi’s $3.2B Ranbaxy purchase, making it the largest Indian pharma acquisition.

• 📉 Market Reaction: Aurobindo’s stock slid nearly 5% on the news, reflecting investor caution. The company clarified no binding agreement has been signed yet.

• 🌍 Why Zentiva Matters: Zentiva operates in 30 countries, with a stronghold in Eastern Europe — markets with steadier margins thanks to state-backed healthcare procurement.

• 💵 How It’s Funded: Aurobindo reportedly secured a $4.75B bridge loan from MUFG, with the rest from internal accruals.

• 🧬 Strategic Play: The acquisition would supercharge Aurobindo’s biosimilars and specialty pipeline, with products targeting cancer, asthma, and osteoporosis.

• 🏭 Broader Moves: The deal follows Aurobindo’s $250M buyout of U.S.-based Lannett and a ₹1,000 crore biologics facility tie-up with MSD in Telangana.

What does this mean?

If the deal closes, it would be a milestone for Indian pharma — cementing Aurobindo’s global ambitions and giving it a major edge in Europe’s growing biosimilars market. But with the stock already down 22% this year and investors wary of debt, execution will be key.

🚀 Startup Scoop

• 🏢 Table Space Readies IPO: Bengaluru’s coworking player has dropped its “Private” tag and added heavyweights like ex-NASSCOM chair Ganesh Natarajan to its board as it preps a $2.5B public listing.

• 💰 Mobikwik vs DAM Capital in Court: A dispute over ₹1.5 crore in IPO expenses has left ₹42 crore stuck in escrow, forcing Mobikwik to pay vendors from its own funds. Delhi HC hearing is set for today.

• 🥬 PeelOn Raises $1M: The biotech firm develops compostable packaging that extends produce shelf life by 3x, and will use the funds to scale facilities in India and the US.

• 🌾 Mithila Foods Gets ₹1.5 Cr Seed Funding: The Bihar-rooted FMCG brand, known for staples like sattu and makhana, has already crossed ₹3 crore annualised revenue in under five months.

🤓 Chai Break Trivia

🛰️ Did you know? The very first GPS satellite Navstar1 was launched by the US in 1978. Today, there are over 30 active satellites orbiting Earth, making sure your food delivery, Uber ride, and even dating apps know exactly where you are!

🔮 What’s Brewing Next

• ⚖️ Delhi High Court to hear Mobikwik vs DAM Capital case today

☕ That’s a wrap for today’s brew! From pharma giants eyeing billion-dollar deals to startups reshaping what we eat and how we ride, India’s business scene is buzzing louder than a Mumbai chaiwala at rush hour. We’ll be back tomorrow with more steaming updates — until then, keep your cup full and your curiosity fuller. ✨