The Bharat Highways InvIT IPO opened for subscription today, with the subscription period ending on March 1. The IPO raised ₹825.97 crore from anchor investors on February 27, with the company allocating 8,25,97,350 equity shares at ₹100 apiece. The IPO price band has been set in the range of ₹98 to ₹100 per equity share, with a lot size of 150 equity shares. The IPO has reserved 75% of the offer size for Qualified Institutional Buyers (QIB) and 25% for Non-Institutional Investors (NII).
In the market, shares of Patanjali Foods witnessed a 4.13% dip, reaching Rs 1,555 apiece. This decline follows the Supreme Court’s issuance of a contempt notice to Patanjali Ayurved and its Managing Director, Acharya Balakrishna, for allegedly making “misleading claims” in advertisements for their medicines. The apex court also imposed restrictions on Patanjali, prohibiting the promotion of products that claim to cure diseases like heart ailments and asthma.
Shares of Vodafone Idea fell 10% to hit a lower circuit of Rs 14.30 after the company’s board approved raising Rs 45,000 crore through a combination of debt and equity. The funds will be used for expanding 4G coverage, 5G network rollout, and capacity expansion.
Reliance Capital will delist from the exchanges as the UK-based Hindujas received the National Company Law Tribunal’s (NCLT) nod for the resolution plan to revive the company. The liquidation value of the equity shareholders of Reliance Capital is zero, and their holdings will be cancelled after the NCLT’s order.
Malabar Gold & Diamonds announced plans to open 10 new stores, aiming to reach a total of 350 stores by March. The expansion includes new stores in India and international locations such as New Zealand, Egypt, Turkey, and South Africa.
The Apparel Export Promotion Council (AEPC) stated that the industry is focusing on sustainable production practices to enhance competitiveness in the international market. AEPC Chairman Sudhir Sekhri highlighted the 5F approach given by Prime Minister Narendra Modi to boost textile exports.
In the share market, benchmark indices ended lower, with Nifty below 22,000 amid selling across sectors. The biggest losers included Power Grid Corporation, Apollo Hospitals, Eicher Motors, Maruti Suzuki, and IndusInd Bank. Gainers included HUL, Infosys, TCS, and Bharti Airtel. All sectoral indices ended in the red, with auto, oil & gas, power, and realty down 2% each. BSE Midcap and Smallcap indices fell 2% each.
