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The company aims to use the net proceeds from the IPO towards funding working capital requirements and other general corporate purposes.

Of the proceeds from the fresh issue, ₹375 crore will be allocated for debt repayment, with the remainder earmarked for general corporate purposes.

The IPO will be managed by ICICI Securities and Axis Capital.

Sambhv Steel Tubes is recognized as one of India's leading manufacturers of ERW steel pipes and hollow structural tubes based on installed capacity, as of March 31, 2024.

Jerome Powell underlined that there was no going back on rate cuts and the shift was now decisively dovish

VMS TMT, based in Gujarat, will also raise funds solely through a fresh issue of 1.5 crore equity shares.

IPO will comprise a fresh issue of equity shares worth ₹170 crore, along with an offer-for-sale (OFS) of ₹400 crore by the company’s promoter, Sanjay Namdeo Salunkhe.

Despite the decline, Hyundai's Chief Operating Officer, Tarun Garg, highlighted that SUVs now contribute to 70% of the company’s overall sales.

In September, it was again the large cap funds that stood out, even as alpha hunting in smaller stocks took a back seat

The project aims to construct 10,000 MW of renewable energy capacity (6,000 MW solar and 4,000 MW hybrid) in Bikaner, Jaisalmer, and others.