Reliance Nippon AMC to be listed on NSE on Nov 6

The shares of Reliance Nippon AMC will be listed on the National Stock Exchange (NSE) on Monday, Nov 6. The listing ceremony at NSE will be attended by the Reliance group chairman Anil Ambani; Anmol Ambani, ED, Reliance Capital; among other company dignitaries of the company.

The initial offer sale aimed at raising an estimated Rs. 1,542.24 crore, received bids for 3,493 mln shares against the total issue size of 4,28,40,000.

The IPO had opened for subscription from Oct 25- 27, 2017 in a price band of Rs. 247- 252, which was oversubscribed by 81.54 times at the close of the bidding.

The Rs 1,540 crore IPO saw healthy demand in all three investor categories.  The institutional portion was oversubscribed 118 times; HNI segment was oversubscribed by 209.44 times and retail investor portion by five times.

Khadim India Public Offer sees 7% subscription on first day

Khadim India Limited is Kolkata based largest footwear company in India. It has a strong presence in eastern India and has placed itself as an affordable brand. The company has 853 branded exclusive retail units in 23 states and one Union territory.

Khadim’s Initial Public Offering (IPO) has been subscribed 7% on the first day of share sale on Thursday. The Offer will close on Nov 6.

After lunch hours of trading time, the IPO received bids for 3,42,780 shares against the total issue size of 50,73,006 shares, as per NSE data. With a price band of Rs. 745 to 750 per share, Khadim India is aiming to garner Rs. 543 crore through the share sale. 

Bank stocks rise, Nifty-50 index hit fresh intraday high

The NSE Nifty50 index hit fresh intraday high, by 100.05 points up at 10,435.35 while the BSE Sensex hovered near the day's high, up by 369.98 points at 33,583.11 in mid-morning trade at 11.20 pm on Wednesday, 1^st November. Positive leads from Asian markets together with overnight gains in the U.S market increased investors' sentiment.

Bank stocks rose. The Nifty Bank index hit a record peak of 25, 490.65 points. Among bank stocks in the Nifty50, ICICI Bank were up 4.6%, and SBI traded up 3.3%, while shares of Axis Bank rose 2.8% to Rs. 537.95.

Airtel shares hit a Ten-year high after the company posted stellar numbers for the Q2 30 September. On BSE, The stock of Airtel was the major gainer on both Sensex and Nifty advancing 8.66% to hit the record high of Rs 540.75 on BSE. 

Rupee Watch: The Indian rupee hit nearly 6-week high against the dollar. It opened at 64.67 a dollar and touched a high of 64.64 and was trading at 64.65 versus the USD, up 0.15% from its last day’s close of 64.75.