The company has reserved about 60% of the offer for retail investors, 30% for high net-worth investors and remaining 10% for institutional investors.
HDFC Life (+2.90%) is the top Nifty 50 gainer with 3% gain.
Nifty Bank, Financial Services, Oil & Gas, and Media indices are each trading with about 1% gains.
The investment strategy of the Scheme will be to invest in a basket of securities forming part of Nifty 100 Low Volatility 30 Index in similar weight proportion.
UBS’ acquisition of Credit Suisse wipes off $17 billion of Credit Suisse bonds.
The IPO consists of fresh issue of 20,000,000 equity shares of the face value of Rs 10 each aggregating to Rs 66 crore.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.
To achieve the investment objective, the scheme will follow passive investment strategy with investments in stocks in the same proportion as in Nifty Smallcap 50 Index.
Uncertainty hangs in the air.