NCDEX gets Sebi greenlight to launch MF platform; Corona Remedies up 34%

NCDEX gets Sebi greenlight to launch MF platform

 

The National Commodity and Derivatives Exchange (NCDEX) has obtained an in-principle approval from the Securities and Exchange Board of India (Sebi) to launch a transaction platform for mutual funds. The MF platform is designed to serve as a “natural precursor” to the launch of the equity and equity derivatives segment, the bourse said in a release.

 

ICICI Pru AMC IPO booked  2x on Day 2 of bidding

 

ICICI Prudential AMC’s mega initial public offering(IPO) was subscribed around two times on second day of bidding. The institutional investor and high networth individual portion were subscribed close to 3x each, while retail portion was covered around 80 per cent. The firm has allotted shares worth ₹3,021 crore to 149 anchor investors ahead of its IPO. ICICI Pru AMC had set a price band of ₹2,061-₹2,165 per share for its ₹10,600 crore initial public offering (IPO). The issue is entirely an offer-for-sale (OFS) by UK-based Prudential Plc, its joint venture partner.

 

Corona Remedies surges 34% on debut

 

Corona Remedies, a pharmaceutical firm, saw its value surge 34 per cent during its trading debut on Monday. The firm’s shares ended at ₹1,422, up 34 per cent, over its issue price of ₹1,062. The debut follows 144x oversubscription to its intial public offering (IPO). The ₹655 crore IPO was entirely an offer for sale. 

 

Wakefit shares fall after listing

 

Shares of mattress maker Wakefit Innovations fell as much as 9.23 per cent during their trading debut on Monday. The stock hit a low of ₹177 and a high of ₹203.5, before ending the session at ₹190.65.

 

The company had priced its shares at Rs 195 apiece during its Rs 1,289 crore maiden share sale. At the last close, Wakefit was valued at Rs 6,231 crore.