News Overview

According to the Red Herring Prospectus of Baazar Style Retail IPO, Rekha Jhunjhunwala has issued 2,723,120 equity shares in its mainboard IPO.

Company’s year-to-date order intake exceeds ₹11,300 Crore, representing a 75% increase over the previous year.

The projects, granted through the Engineering, Procurement, and Construction (EPC) system, include road widening and shoulder paving.

PNB Investment Services Ltd and Unistone Capital Private Ltd have been named Lead Managers of the public offering.

The search was conducted under the Customs Act of 1962 in connection with the alleged evasion of customs duties on imported items.

The NFO is available for subscription from September 5 to September 19.

Further information on the buyback process, record date, and deadlines will be released in due course.

The pan-European STOXX 600 index declined 0.4% around 0711 GMT. The index has fallen 3% this week, ending its four-week winning streak.

At 1:35 p.m., the stock was trading 1.22% higher at Rs 999.8 on the BSE. It is up 65% year to date and roughly 150% over the last two years.

The big debate now is whether the household savings in capital markets shown by RBI is comprehensive enough?