News Overview

The net proceeds from the IPO will be used by the company to cover its future capital needs for lending and other corporate functions.

The robust response to the company's open offer further hinted at potential listing gains.

75% of the issue size is reserved for qualified institutional investors (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors.

In the previous session on May 15, Indian markets experienced a slight fall, with the Sensex declining by 118 points, while the Nifty maintained its position around the 22,200 mark.

While benchmark indices experienced a downturn, the broader market indices showcased resilience, with BSE SmallCap gaining 0.96% and BSE MidCap closing 0.60% higher.

The company generated a consolidated net profit of ₹525.8 Crore in the same period previous year.

NDCFS is considered an associate company of Mahindra Holdings under the Companies Act and functions as a joint venture between Mahindra Holdings and M&M.

Domestic Institutional Investors (DIIs) purchased shares valued at ₹3,528 Crore on the same day, reaching a total purchase of ₹26,500 Crore for the month.

Trading in Brightcom Group shares will be suspended starting June 14, 2024.

For the first time since the 1960s, coal's contribution to India's power generation capacity falls below 50%.