AIFs are pooled investment vehicles that cater to high-networth investors and institutions
Posts in category Business Standard
TMS Ep638: Paint industry, FDI in space sector, markets, Bitcoin halving (27-02-2024)
What’s attracting big players to paint industry? Can liberalised FDI make India a space superpower? Will Bitcoin extend its rally post the halving event? How does Bitcoin halving work? Answers here
Investors subscribe Platinum Industries IPO 8 times on Day 1 of bidding (27-02-2024)
The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday.
The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data.
The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares.
The price range for the offer is fixed at Rs 162-171 a share.
Platinum Industries has mobilised over Rs 70 crore from anchor investors.
Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers.
Unistone Capital is the manager to the offer.
Benchmarks rebounds after early dip, Nifty ends near 22,200 (27-02-2024)
The domestic equity benchmarks reversed early losses and closed higher on Tuesday, snapping a two-day losing streak. The key indices, the Sensex and Nifty, were buoyed by gains in select heavyweight stocks. The Nifty 50 index, after dipping to a low of 22,085.65 in early trading, managed to close near the 22,200 level. The broader market witnessed mixed performance with sectors like realty, consumer durables, and IT experiencing gains, while oil & gas, media, and PSU banks declined.
INR Stays Range Bounds; Key US Data Eyed (27-02-2024)
The Indian rupee closed almost flat at 82.89 (provisional) against the US dollar in a restricted trade on Tuesday amid withdrawal of foreign funds and increased month-end demand for the American currency. Optimistic equities and a weaker dollar limited downside for the local unit. The benchmark S&P/BSE Sensex rose 305.09 points, or 0.42 percent, to 73,095.22 while the broader NSE Nifty index settled 76.30 points, or 0.34 percent, higher at 22,198.35. Meanwhile, investors kept an eye on domestic and global macroeconomic data to be released this week. At the interbank foreign exchange market, the local unit opened firm at 82.87 against the dollar and touched a low of 82.90 in intra-day trade. The local unit finally settled at 82.89 (provisional) against the greenback, down by 1 paisa from the previous closing level.
NSE SME IPO of Purv Flexipack subscribed 38.32 times (27-02-2024)
The offer received bids for 21.70 crore shares as against 56.64 lakh shares on offer.
Hong Kong Market gains 0.94% (27-02-2024)
Market participants are awaiting authorities’ next policy move as the National People’s Congress begins its annual meeting on March 5. Key topics to monitor include discussions about the governments “new model” for the property sector, local government financing and fiscal reforms, as well as other demand-side stimulus such as support to consumption
Exicom Telesystems IPO subscribed 10.01 times (27-02-2024)
The offer received bids for 18.23 crore shares as against 1.82 crore shares on offer.
Platinum Industries IPO subscribed 8.04 times (27-02-2024)
The offer received bids for 7.74 crore shares as against 96.32 lakh shares on offer.
DCM Shriram jumps after board OKs to foray into chemical business (27-02-2024)
DCM Shriram added 2.35% to Rs 1002.05 after the company’s board approved for the entry of its chemicals business into the domain of Advanced Materials by investing into Epoxy and value added products.