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Fusion Micro Finance IPO opened for subscription on Wednesday (2 November), and will conclude on 4 November. The non-banking finance company (NBFC) has fixed the IPO price band at Rs 350-368 apiece. The Rs 1,104 crore IPO comprises the issuance of fresh equity shares worth Rs 600 crore and an offer for sale (OFS) worth Rs 504 crore of 13,695,466 equity shares by promoters and existing shareholders. Half of the issue size has been reserved Read More

Equity benchmarks concluded the truncated week on a positive note amid volatile global cues. The Nifty settled the monthly expiry week at 17787, up 1.2%. The broader market performed in tandem with the benchmark as the Nifty midcap gained 1%. Sectorally, Auto, PSU, and metal remained at the forefront while FMCG took a breather. The Nifty started the monthly expiry week on a positive note and subsequently witnessed range-bound activity. As a result, weekly price Read More

There is no country in the world in terms of “margin protection” better than India where technology is extensively used to protect clients’ securities, Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch said on Friday. The SEBI chief said that foreign investors often tell her that she was fortunate to have in the country a culture of data and technology, which is making the role of the capital market regulator effective. “There Read More

Varanasi-based Utkarsh Small Finance Bank has received the Securities and Exchange Board of India (SEBI) nod for a Rs 500 crore IPO (Initial Public Offering.) The IPO comprises equity shares of a face value of Rs 10 each and is a completely fresh issue of shares. The entire proceeds will go to the company, according to the Draft Red Herring Prospectus (DRHP). The small finance bank may consider the issue of securities aggregating up to Read More

Shares of companies related to the defense sector are sailing northwards, with the government’s efforts to indigenize more defense equipment and boost their exports energizing investor sentiment. The ‘Fourth Positive Indigenisation List’ of 101 defense items was announced by Prime Minister Narendra Modi on Wednesday, which also means that domestic players related to the multi-billion dollars worth defense segment, will have increased business opportunities. An analysis of the stocks of companies that have businesses related Read More