The offer comprises fresh issue of equity shares 119.28 crore and an offer for sale by promoters of up to 2,550,000 equity shares.
The scheme is a target maturity index fund tracking the Nifty SDL December 2028 Index.
We look at the top 10 AMCs by equity AUM and evaluate at 2 levels.
Non-binding term sheet for the acquisition has been signed.
After sharp selling by FPIs to the tune of $3.52 billion in January 2023, the FPI selling was relatively more subdued at $640 million in February 2023.
The issue was subscribed 42% on day 1 of the offer with 60% subscription received from retail investors.
Average price of this transaction was Rs 406 per share.
As was widely expected, highway awards continue to strengthen through Q4, with large listed players securing highway orders worth Rs88 billion in Q4 so far versus Rs54 billion in 9MFY23. This should jump further through March 2023.
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