News in Shorts: 17 January 2026

Rising Initial Public Offering (IPO)

Context: Recently, SEBI Chairman Tuhin Kanta Pandey stated that India has emerged as the global leader in IPO numbers.

Key Highlights on India’s IPO Market

• India recorded 311 IPOs raising ₹1.7 trillion in the first nine months of the financial year 2025-26.
• India is now the world’s largest IPO market by number and the third largest by value.
• India’s market capitalisation-to-GDP ratio has risen from 69% in FY16 to over 130%, reflecting deeper investor participation.

About Initial Public Offering (IPO)

• An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time, thereby becoming a publicly listed company. 
• Regulator in India : The Securities and Exchange Board of India (SEBI) is the primary regulator of IPO which sets rules, reviews prospectuses, and ensures compliance for investor protection.
• Institution Involved: Stock exchanges (like NSE/BSE) oversee listing and trading, and merchant bankers manage the process.
• Key Features
  • Raise capital through the primary market by issuing new shares.
  • The process involves underwriting by investment banks, regulatory disclosures, pricing, and public listing on stock exchanges.
  • Governed by market regulators, ensuring transparency and investor protection.
• Benefits
  • Capital Access: It provides companies with large-scale capital for expansion, innovation, and debt reduction.
  • Credibility: It enhances credibility, visibility, and access to cheaper finance.
  • Exit Opportunity: It offers an exit opportunity for founders and early investors to realise gains.
• Risks and Challenges
  • Increased Scrutiny: IPOs involve high compliance costs, continuous disclosure requirements, and regulatory scrutiny.
    • Public ownership may reduce managerial flexibility and increase pressure for short-term performance.
  • Market volatility: It can lead to price fluctuations, affecting both investors and management decisions.

SpaceX Crew-11 Mission

Context: Four International Space Station (ISS) crew members splashed down in the Pacific Ocean after the first ever medical evacuation in the ISS’s history since its launch in 1998.

• The evacuation was triggered by a serious but undisclosed medical condition affecting one astronaut.
• It involved four astronauts from Nasa’s SpaceX Crew-11 Mission who had launched in August 2025. 

About the SpaceX Crew-11 Mission

• Mission Type: 11th operational flight under NASA’s Commercial Crew Program, transporting astronauts to the ISS.
• Launch: 1 August 2025 aboard a Falcon 9 Block-5 rocket.
• Spacecraft: Crew Dragon (SpaceX).
• Crew Strength: 4 astronauts.

Significance of the Mission

• Historic First:
  • Marked the first medical evacuation from ISS, highlighting the importance of emergency preparedness in long-duration space missions.
• Future Implications:
  • Sets precedent for medical protocols in space exploration.
  • Critical learning for upcoming Artemis missions and potential Mars expeditions, where medical contingencies will be even more complex.

77th Republic Day Celebration

Context: President of the European Council António Luís Santos da Costa and the President of the European Commission Ursula von der Leyen will be Chief Guests at the 77th Republic Day celebrations.

About the 77th Republic Day Celebration

• Republic Day is celebrated on 26 January to mark the adoption of the Constitution of India in 1950, symbolising India’s transformation into a sovereign, democratic republic.
• Republic Day 2026: The 77th Republic Day celebrations will be held at Kartavya Path, New Delhi, symbolising democratic values, constitutional governance, and India’s global outlook.
• 2026 Theme: 150 years of ‘Vande Mataram’
• Chief Guests (2026): For the first time, two top European Union leaders will jointly attend as Chief Guests, highlighting the EU’s collective importance to India.
• • António Luís Santos da Costa, President of the European Council, and
  • Ursula von der Leyen, President of the European Commission

Significance of the Visit

• Strategic Significance: The participation of EU leaders at India’s Republic Day reflects India’s strategic prioritisation of the European Union as a key partner amid evolving global geopolitics.
• Economic and Institutional Cooperation: The visit coincides with the 16th India–EU Summit and the India–EU Business Forum, strengthening cooperation in trade, technology, clean energy, security, and advancing discussions on the India–EU Free Trade Agreement.
• Shared Global Values: The engagement reinforces shared commitments to democracy, multilateralism, a rules-based international order, and sustainable development, enhancing India’s global diplomatic stature.

Indelible Ink

Context: Indelible ink has come under scrutiny during the 2026 Maharashtra civic polls after opposition parties alleged that the ink marks were easily removable, raising concerns over electoral integrity.

Concerns Raised

• Opposition leaders claim videos show ink marks being wiped off using sanitiser or nail polish remover, especially where marker pens were used.
• Allegations suggest this could enable repeat voting, prompting accusations of weakened safeguards and political bias by election authorities.

About Indelible Ink

• Definition: Indelible ink is a violet-coloured mark applied to a voter’s finger after casting a ballot, intended to remain visible for several days.
• Production and Source: 
  • The ink’s formula was developed by the National Physical Laboratory in the 1950s.
  • Manufactured exclusively by Mysore Paints and Varnish Ltd, a Karnataka government undertaking.
• Use in Indian Elections: 
  • India has used indelible ink since the 1962 general elections.
  • It is applied on the left index finger, usually across the nail and cuticle, using brushes, bottles, or marker pens.
• Chemical Basis: 
  • Contains silver nitrate, which reacts with skin and light to create a lasting stain.
  • Ensures one person, one vote principle.
• Official Response: Election authorities maintain that even if ink fades or is removed, multiple procedural checks prevent duplicate voting, and marker pen use has been permitted since 2011.

Orbital Datacentres

Context: Amid soaring AI-driven energy demand, Google’s Project Suncatcher and ISRO are exploring space-based Orbital datacentres powered entirely by uninterrupted solar energy.

About Orbital Datacentres

• Orbital datacentres propose hosting AI computing infrastructure in low-Earth orbit, using space as an alternative location to energy-intensive terrestrial facilities.
• Key Features: These datacentres would operate as tightly clustered satellite constellations, relying on ultra-high-speed inter-satellite links for AI workloads rather than heavy Earth-bound data transfers.
• Potential Advantages: Constant exposure to solar energy eliminates dependence on terrestrial power grids, potentially reducing carbon emissions and bypassing land, water, and cooling constraints on Earth.

Feasibility of Orbital Datacentres

• Technical Viability: Google’s research indicates modern tensor processing units can tolerate space radiation, while distributed architectures can meet the massive internal bandwidth needs of AI models.
• Engineering Challenges: Thermal management in a vacuum, long-term maintenance, and hardware replacement in orbit remain major unresolved hurdles.
• Economic Considerations: Falling launch costs and solar-first energy savings could make orbital datacentres competitive, but they must outperform rapidly improving ground-based alternatives.

While still experimental, orbital datacentres reflect growing efforts to rethink AI infrastructure as energy demand, climate concerns, and computing intensity continue to rise.

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