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The request for a second auction by JSPL was denied by a division bench made up of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad.

Despite the recent price run-up, analysts of IIFL Capital Services estimate distribution yield of 6.8%/7.3% over FY24/25 and 11% discount to NAV, implying a healthy total return of 17-18% over the next 12 months.

The IPO will consist of a fresh issue of equity shares valued at up to Rs 750 crore, along with an offer for sale (OFS) of over 2 crore equity shares by promoters and existing shareholders.

Analysts of IIFL Capital Services see COFO continuing on this trajectory by delivering 15%/25% USD revenue/EPS Cagr over FY23-25, driven by execution of strong deal wins and improving margins.

Brent crude futures had fallen 32 cents, or 0.4%, to $83.32 per barrel. American West Texas Intermediate (WTI) crude was down 28 cents or 0.4% at $79.35 per barrel.

The proposed public offering will probably be lead managed by ICICI Securities.

As of May 1, 2023, the company's order book was at 292,000 units due to the strong demand for its line of recently introduced SUVs.

Spot gold was unchanged at $1,964.14 per ounce, while U.S. gold futures moved up 0.1% to $1,965.90.

Petrol and Diesel prices in cities across India on 26-07-2023

The reorganization will allow the company to capitalize on shared AFS.