Author: FinSiddhi

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CSM Technologies’ IPO is nearing its close with a modest grey market premium of around 4%, suggesting limited listing gains. The issue, aiming to raise Rs 145.78 crore, was 66% subscribed by Day 2, with retail investors showing strong interest. The company, a digital transformation and GovTech solutions provider, operates in a growing sector but…

The Rs 883 crore public issue was priced at Rs 152 per share and comprised a fresh issue of Rs 661 crore along with an offer for sale worth Rs 222 crore

The company plans to utilise the proceeds for the acquisition of Falcon Yarns, funding the working capital requirements of Falcon Yarns and general corporate purposes.

Investors can bid for a minimum of 4,000 shares, requiring an investment of Rs 2.8 lakh at the upper end of the price band. Galactico Corporate Services is the book-running lead manager, while KFin Technologies is the registrar to the issue.

Retail investors can bid for a minimum of 4,000 shares, requiring an investment of Rs 2.76 lakh at the upper end of the price band. Novus Capital Advisors is the book-running lead manager, while Alankit Assignments is the registrar to the issue.

Gold prices dipped as escalating U.S.-Iran tensions fueled oil prices, while anticipated U.S. Federal Reserve interest rate hikes added further pressure. Despite a brief missile exchange, both nations reportedly agreed to de-escalate and resume talks. Meanwhile, Indian gold demand saw a premium emerge, contrasting with subdued activity in China. Other precious metals experienced mixed movements.

PFC and REC boards approved their merger scheme with a share-swap ratio of 88 PFC shares for every 100 REC shares. The merger aims to create India’s largest power financing institution. Analysts advise staggered investment, citing regulatory approvals, execution risks and valuation concerns despite long-term sector support.

Three stocks in the NSE mid-cap segment featured in the RSI Trending Up scan on June 25 after showing improving momentum. The RSI moved above the 50 mark from lower levels, signalling strengthening price action, improving sentiment and potential short-term buying opportunities for traders tracking bullish technical setups.

The non-institutional investor (NII) portion was booked 2.49 times, while the qualified institutional buyer (QIB) segment attracted 1.23 times bids. The company had also raised Rs 6.78 crore from anchor investors ahead of the public issue.