Auto Sector

The port will be used to export approximately 20,000 cars per year.

The Rs 1500 crore IPO is fully an offer for sale and the company will not receive any net proceeds from the issue.

As per DRHP, the IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of 75,00,000 shares by promoters.

Asentec is a leading global supplier of Automotive sensors and actuators,

Ahead of the IPO, the company has allocated 32,66,797 equity shares to anchor investors at the price of 506 apiece.

The Singapore Exchange's Nifty futures traded 48 points, or 0.26%, higher at 18,366.

On Nifty, NTPC was the top gainer soaring by 2.3% followed by Bajaj Finserv, Kotak Bank, Eicher Motors and Power Grid up 1% each.

State Bank of India is quoting at Rs 615.5, up 3.63% on the day as on 12:49 IST on the NSE. The stock is up 17.63% in last one year as compared to a 0.33% gain in NIFTY and a 5.2% gain in the Nifty Bank index.

On consolidated basis, Ami Organics reported 9% rise in net profit to Rs 19.04 crore on 20.2% increase in revenue from operation to Rs 146.99 crore in Q2 FY23 over Q2 FY22.

The company said in its filing on August 24, 2022, "This DriveX funding aims to enable creative solutions to spearhead this shift."