Monday, October 19
Virtual Galaxy Infotech's initial public offering (IPO) has garnered healthy investor interest, with the subscription period set to close on May 14. As of May 13, the IPO was subscribed nearly 23 times. The decent response in the subscription phase is further supported by a healthy grey market premium (GMP), which is currently around Rs 75.This represents a premium of nearly 53% over the issue price, indicating strong investor confidence and the potential for a favourable listing.The IPO comprises a fresh issue of 6.57 million equity shares, aiming to raise Rs 93.29 crore. The price band for the public offer is set between Rs 135 and Rs 142 per share, with a lot size of 1,000 shares, requiring a minimum investment of Rs 1,42,000.Proceeds from the IPO will be utilised for capital expenditur
India's markets regulator has proposed to reduce regulatory requirements for foreign investors investing exclusively in the country's government bonds, it said on Tuesday, as it looks to boost investments in these securities. Foreign investors who hold Indian government bonds need not disclose investor group details, the Securities and Exchange Board of India proposed in a consultation paper. "Simplification of onboarding process and rationalization of ongoing regulatory compliances is expected to further help in facilitating investments by foreign portfolio investors (FPIs) in Indian government bonds (IGBs)," SEBI said. FPIs are currently required to share details on their investor groups. SEBI also proposed allowing resident as well as non-resident Indians and overseas citizens to contri
