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The IPO consists of an offer-for-sale (OFS) of 48 lakh equity shares valued at Rs 721.44 crore, at the higher end of the price band

All sectoral indices except for auto ended in negative territory

This contract involves the supply of traction motors to the European market, with an initial order worth ₹18 Crore, scheduled for delivery in April 2025.

Additionally, the result fell short of street projections of Rs 956 crore. Operating revenue fell to Rs 15,635 crore, a 2% YoY decrease.

As of 3:27 pm, the IPO was subscribed 3.06 times. The retail portion had received maximum bids being oversubscribed 4.81 times.

City Union Bank’s Gross Non-performing Asset, the NPA fell to 3.54% in Q2 FY 25.

The gross non-performing assets (NPA) ratio improved slightly, dropping by 0.25% to 2.88%, while advances grew by 15%.

On October 21, the indices closed on a weak note, with Nifty falls below 24,800.

The net proceeds from the fresh issue, amounting to ₹625 crore, will be used to strengthen the capital base and improve solvency levels, along with other corporate purposes.

Compared to 47,985 units during the same period last year, housing sales decreased to 41,871 units in the third quarter of the 2024 calendar year.