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NSE starts onboarding MF platforms as EOPs; shares of Aeroflex gain 50%

Shares of Aeroflex Industries rose over 50 per cent over their issue price in their stock market debut on Thursday

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NSE starts onboarding MF platforms as EOPs
 
The National Stock Exchange (NSE) on Thursday announced that mutual fund (MF) distribution platforms wanting to become execution-only platforms (EOP) could register with the stock exchange through its website. "Existing members of the exchange as well as body corporates desirous of being on board in the EOP segment of the exchange as new members may apply for the enablement after completion of the registration process," the exchange said in a circular. The Securities and Exchange Board of India (Sebi) has mandated online platforms solely into distribution of direct mutual fund schemes to become EOPs by registering either with the Association of Mutual Funds in India (Amfi) as Category 1 EOPs or with exchanges as Category 2 EOPs. The association is yet to release the guidelines.  

Shares of Aeroflex gain 50% on debut
 
Shares of Aeroflex Industries rose over 50 per cent over their issue price in their stock market debut on Thursday. The company’s stock ended at Rs 163, up Rs 55, or 51 per cent, over its issue price of Rs 108. The stellar debut follows strong response to the company’s Rs 351 crore initial public offering, which was subscribed more than 90 times. Mumbai-based Aeroflex is a leading manufacturer of braided hoses and other metallic flexible flow solutions. At last close, Aeroflex had a market capitalisation of Rs 2,110 crore.

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First Published: Aug 31 2023 | 11:28 PM IST

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