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Vikran Engineering's Rs 772 crore IPO opens today, featuring a fresh issue and offer for sale, closing on August 29. With strong GMP, listing is expected on September 3. The company, backed by anchor investors and pre-IPO placements, will use IPO proceeds for working capital.
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LGT Business Connextions Ltd. is set to debut on the BSE SME platform on Tuesday, August 26, with expectations of a flat listing as its grey market premium remains at the issue price of Rs 107. The IPO, which closed on August 21 and was subscribed 1.25 times, aims to utilize the Rs 28.
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The United States has announced a sharp increase in tariffs on Indian imports, doubling duties to 50 per cent from August 27. The move is aimed at pressuring India over its continued purchase of Russian oil as Washington pushes for an end to the war in Ukraine. New Delhi has strongly rejected the secondary tariffs, calling them unfair. Prime Minister Narendra Modi said India will protect farmers, small businesses and national interests despite external pressure.
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