In this week’s wrapup, we discuss why private equity (PE) firms are suddenly interested in buying Indian schools, the SBI Funds Management IPO, the problems in India’s Public Distribution System (PDS), whether genetically modified seeds can help farmers break free from their dependence on the monsoon, and why the Supreme Court upheld a penalty that SEBI imposed on Kotak Mahindra AMC five years ago.

With that out of the way, let’s look back at what we wrote this week.

Why are investors suddenly obsessed with schools?

Two blockbuster private equity deals just happened in India. But they weren’t in AI, fintech, or manufacturing. They were in schools.

And that’s not a coincidence. Investors are suddenly writing multi-thousand-crore cheques for premium schools because they’ve quietly become one of India’s most predictable businesses. Parents rarely pull their kids out, fees keep rising, and revenue flows in year after year.

But that’s only part of the story. There’s a much bigger economic shift driving this trend. To find out what it is, read Monday’s newsletter here.

The SBI Funds Management IPO

Millions of Indians already own SBI Mutual Fund schemes. But here’s the odd bit. Until now, you could never actually own a piece of the company managing all that money. This week, that changed, as India’s largest mutual fund house finally headed to the markets.

And on paper, it looks like a dream business. A 15.3% market share, the lowest costs in the industry, and a profit margin of around 70%. Basically a cash machine riding India’s unstoppable SIP habit.

But there are two catches. Indians are drifting towards cheaper passive funds, and SEBI’s new fee rules are quietly squeezing the very margins that make SBI so profitable. Add a price tag of about 38 times earnings, and the picture gets more interesting.

So is this IPO a rare chance to own the market leader, or are you paying full price just as the tide turns? Read Tuesday’s story here to find out.

Why is ration rice of such bad quality?

A few days ago, the government announced that it would improve the quality of rice distributed under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and other welfare schemes by reducing the amount of broken rice in it.

Broken rice is simply a byproduct of the rice milling process. So the lower its quantity, the better the quality of the rice.

And while that’s a great move, is it really enough? Because India’s Public Distribution System (PDS) has even deeper problems that cannot be fixed simply by improving the quality of the rice on paper.

That’s exactly what we dived into in Wednesday’s newsletter. You can read it here.

Can better seeds solve our farmers’ monsoon problem?

Every year, millions of Indian farmers wait anxiously for the monsoon. And despite decades of investment in dams, canals and irrigation, a delayed spell of rain can still throw an entire farming season into chaos.

So when India unveiled its first genome-edited rice varieties, it seemed like the perfect solution. Drought-resistant, water-saving and built for a changing climate. What could possibly go wrong?

As it turns out, quite a lot. The real challenge wasn’t in the laboratory but in getting those seeds into farmers’ fields.

To find out why, read Thursday’s newsletter here.

Why the Supreme Court sided with SEBI against Kotak AMC

This week, the Supreme Court upheld a ₹2.1 crore penalty imposed by SEBI on Kotak Mahindra Asset Management Company (AMC), its trustee company and its executives.

But here’s the thing. Kotak believes it was penalised for taking a decision that would protect investors from suffering huge losses. Which is exactly why, even after losing its appeal against SEBI’s order before the Securities Appellate Tribunal (SAT), it took the matter to the apex court.

So why did every authority, including the apex court, think SEBI was right?

Find out in yesterday’s Markets edition here.

Finshots Weekly Quiz v2.0 🧠

As you probably already know, the Finshots Weekly Quiz has a new avatar. If you missed out on it in the last couple of months, don’t worry. Click here to check out the rules and set a reminder to participate consistently starting next month!

Now, let’s move on to the top scorers from our previous weekly quiz. There were a whole bunch of you who participated, and many of you ended up with the same scores. So we’re calling you Bulls, Bears, Unicorns, Blue Chips, and Rising Stars. Here’s how the leaderboard looks right now:

If your name has been featured on the leaderboard, then congratulations! If not, don’t lose hope. If you attempted last week’s quiz, keep at it and answer all the weekly quizzes this month. You never know when the turntables! Click on this link to take this week’s quiz, which is open till 12 noon, Friday, 24th of July, 2026. The more answers you get right, the better your chances of appearing on the Finshots Weekly Quiz leaderboard. We’ll publish it every Saturday in the Weekly Wrapup. And the winner will be announced in the first week of August.

Liked this week’s wrapup?

Don’t forget to share it with your friends, family, or even strangers on WhatsApp, LinkedIn, and X. And subscribe to Finshots, if you haven’t already. Plis!