The company allotted 45 million shares at upper price band of 740 apiece to these institutional investors. Anchors include LIC, ICICI Prudential Mutual Fund, SBI Mutual Fund, etc.
Sambhv Steel Tubes is launching an IPO to raise 400 crore for debt repayment and 100 crore through an OFS, diluting promoter stake to 56%. With expanding capacity and strong industry growth projections, the company aims to capitalize on rising steel pipe demand.
Nifty is facing a tug-of-war between bulls and bears in the derivatives market, struggling to stay above 25,200 due to persistent call option writers. These traders are betting against the index surpassing this level, creating strong resistance. Simultaneously, put writers are defending the 25,000 level, indicating a solid support base.
Indian equity indices closed with slight gains amid Middle East tensions, paring earlier advances. Investors are closely monitoring the Iran-Israel conflict, leading to market volatility. While Asian markets largely rose, oil prices declined. Analysts advise caution, suggesting selective investments and gradual deployment due to ongoing uncertainty.
National Stock Exchange has offered 1,388 crore to SEBI for settling co-location and dark fibre cases. This move could clear the path for NSE's initial public offering. The co-location case involved preferential access to NSE's servers for some brokers. The dark fibre case concerned unauthorized installation of fibre optic lines. SEBI is yet to approve the settlement.
The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday, a stance directly at odds with President Donald Trumps calls for immediate cuts.