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The initial public offer of Rajputana Stainless Ltd, a manufacturer of long and flat stainless-steel products, got subscribed 30 per cent on the first day of bidding on Monday. The IPO received bids for 63,04,430 shares, as against 2,09,00,000 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) received 99 per cent subscription, while the quota for non-institutional investors fetched 65 per cent subscription. The portion for Retail Individual Investors (RIIs) got subscribed 4 per cent. The initial public offer has a fresh issue of up to 1,46,50,000 equity shares and an offer-for-sale of up to 62,50,000 equity shares. Price range for the offer has been fixed at Rs 116-122 per share. The IPO will conclude on Wednesday. Rajputana Stainless has raised Rs 10 crore from anchor investor Shine Star Build Cap. The firm manufactures a range of stainless-steel products, including billets, forging ingots, rolled black bars, rolled bright bars, flats, pat
Markets regulator Sebi on Friday introduced a voluntary debit freeze facility for mutual fund investors across demat and non-demat folios to promote their digital security. The facility, which will become effective from April 30, ensures that no units are debited from mutual fund folios until they are unlocked. "It is decided that a voluntary debit freeze facility be introduced for mutual fund investors across demat and non-demat (i.e. Statement of Account) folios to ensure that no units shall be debited from such folios till the time they are unlocked," Sebi said in its circular. In the first phase, the facility to lock the folio would be provided to mutual fund investors by the RTAs (Registrar and Transfer Agent) through MF Central platform. The facility will only be available to KYC-compliant investors who have a valid email ID and mobile number (both mandatory). Industry body Amfi will prescribe the detailed process for locking and unlocking folios to all asset management ...