Fedbank Financial raises Rs 330 cr via pre-listing placement
Non-banking finance company Fedbank Financial Services has raised Rs 330 crore from institutional investors through the pre-IPO placement. Parent Federal Bank and investor True North Fund sold a total 23.5 million shares of Fedbank in the pre-IPO placement at Rs 140 apiece, the upper end of the price band. SBI Life Insurance Company, Star Union Dai-chi, Yasya Investments and Nuvama Crossover were the investors who subscribed to shares. Fedbank’s IPO opens on Wednesday.
Ireda IPO subscribed 2x on Day 1, institutional portion booked 1.34x
The Rs 2,150-crore initial public offering of Indian Renewable Energy Development Agency (Ireda) was subscribed over
two times on Tuesday, the first day of the issue. The institutional portion of the issue was subscribed 1.34 times, high networth individual (HNI) portion 2.7 times and retail portion nearly 2 times.
Unifi Capital gets Sebi nod to launch mutual fund operations
Unifi Capital on Tuesday received Securities and Exchange Board of India’s (Sebi) in-principle nod to set up a mutual fund house. “Our mutual fund will enable us to go deeper and wider, bringing our investment products to the full spectrum of investors ,” said Sarath Reddy, Founder of Unifi Capital. (PTI)
Gold, up 1.5%, marches ahead to the beat of a weaker dollar
Gold prices rose to an over two-week high on Tuesday, as the US dollar dipped on expectations that the Federal Reserve is done hiking rates, while investors awaited minutes from the central bank’s latest meeting for cues. Spot gold climbed 0.5 per cent to $1,987.79 per ounce, as of 1215 GMT, after hitting its highest level since Nov 3 earlier in the session. (Reuters)
Crude oil reverses steep gains on caution ahead of Opec+ meeting
Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of Organization of the Petroleum Exporting Countries (Opec) this Sunday, when the group may discuss deepening supply cuts due to slowing growth. Both contracts had climbed about 2 per cent on Monday. Brent crude futures was down 55 cents, or 0.7 per cent, to $81.77 a barrel by 1453 GMT, while US West Texas Intermediate crude futures fell by 54 cents. (Reuters)