Sebi launches app for investor awareness; Kronox Lab IPO subscribed 11x

The Securities and Exchange Board of India (Sebi) on Monday launched Saa₹thi 2.0, an updated version of the previous app to simplify concepts on personal finance for investors.

Along with videos to help investors to do personal finance planning, the app also has financial calculators, modules to explain Know-Your-Customer (KYC) procedures, information on mutual funds, exchange-traded funds, and the functioning of the stock market. The app also details investor grievance redressal mechanism and online dispute resolution platform. With the app, Sebi aims to provide reliable information so that investors don’t fall for misleading videos. The app is available on Google Play Store and the iOS App.

Kronox Lab IPO subscribed 11x on Day 1

The initial public offering (IPO) Kronox Lab Sciences was subscribed 11 times on Monday, the first day of its issue. Institutional investors subscribed 1.1 times, high net worth individuals by 20 times, and retail investors by 13 times.

The company has priced its IPO between Rs 129 and Rs 136 per share. The Rs 130 crore IPO is an offer for sale. Kronox Lab Sciences is a speciality chemicals manufacturer involved in manufacturing raw materials used to make active pharmaceutical ingredients (API), personal care products, and animal health products, among others. The company has a range of more than 185 products supplied to customers in India and more than 20 countries globally. So far, till May 29, companies have raised Rs 27,651 crore from IPOs. The IPO concludes on Wednesday. Pantomath Capital is the banker to the issue.

Block deal: HDFC MF buys stake in Bajaj Electricals
 

HDFC Mutual Fund bought shares worth Rs 68 crore in Bajaj Electricals on Monday through a block deal. Norges Bank sold the shares. As of March 2024, HDFC Mutual Fund holds a 5.9 per cent stake in the company. Bajaj Electricals stock rose 0.4 per cent and was trading at Rs 926.