The initial public offering (IPO) of Pranav Constructions, a Mumbai-based redevelopment developer, opened for subscription on Monday, September 7. The issue will remain open until September 9.
Breaking News
The much-awaited initial public offering of the National Stock Exchange of India (NSE) has moved a step closer to the stock market after the Securities and Exchange Board of India (Sebi) approved the proposed issue.
The Delhi Police have arrested five people for allegedly running a fake recruitment racket that targeted job seekers with fraudulent employment offers at automobile and other related companies.
Shares of Purple Style Labs, the company operating the luxury fashion platform Pernia’s Pop-Up Shop, made a weak debut on the stock exchanges on Monday, listing at a discount of nearly 7 per cent to the initial public offering price.
Japan’s Nikkei 225 rebounded 2.2 per cent, recovering a similar decline recorded last week. South Korea’s benchmark index gained 3.1 per cent, supported by renewed buying in technology and semiconductor stocks.
The shares had made a bumper debut on Friday, listing at a premium of more than 76 per cent over the initial public offering price. The stock subsequently extended its gains and traded more than 100 per cent above the issue price.
The building collapsed at around 1:30 PM on Sunday, reportedly while repair work was underway. The incident has claimed six lives, while 11 people have been rescued from the debris.
The sell-off came after reports that the multiplex operator had asked a senior executive to leave following an internal investigation into alleged payments received from developers involved in cinema-property construction.