Sebi has put forward a proposal to exempt certain listed companies from the requirement to appoint merchant bankers. This initiative is designed to lower the costs related to issuing small-value debt private placements. To qualify, issuers must meet particular standards, including being regulated and listed for over a year, possessing a robust credit rating, and having no recent defaults. This aims to promote more frequent small-value debt offerings.
Brent crude futures fell 50 cents, or 0.6%, to $89 a barrel, while West Texas Intermediate crude futures declined 42 cents, or 0.50%, to $83. Brent was on track to lose 5.3% for the week, while WTI was set to fall 4.3%.
The Rs 650-crore public issue was priced at Rs 300 per share and comprised a fresh issue of Rs 95 crore and an offer for sale (OFS) worth Rs 555 crore. Ahead of the IPO, the company also raised Rs 194.54 crore from anchor investors.
The euro and sterling were subdued near one-week lows against the greenback, last at $1.1652 and $1.3597, respectively, though both remained on track for a second straight monthly gain.
Futures for the Nasdaq 100 Index fell 0.3% and those for the S&P 500 Index retreated 0.2% as initial enthusiasm about the artificial intelligence trade following Nvidia Corp.’s bullish outlook waned. Sentiment was weighed down by Marvell Technology Inc., which fell more than 7% in extended trading following its earnings report.
US Federal Reserve officials offered differing views on the inflation outlook, with Boston Fed President Susan Collins calling July’s data mixed and maintaining her expectation of gradual disinflation. Cleveland Fed President Beth Hammack remained more hawkish, saying inflation could stay above target through next year and reiterating that a rate hike is needed.
Nvidia has calmed investor anxieties regarding the AI surge, forecasting a remarkable seventy percent increase in revenue for the upcoming fiscal year. This optimistic outlook highlights sustained investments in artificial intelligence technology. Following this development, shares of other AI-related chip manufacturers also rose, with Nvidia witnessing a substantial one-day boost in its market capitalization.
Alpha Wave Ventures II plans to sell up to 20.8 million Lenskart shares worth ₹1,313 crore at ₹630 apiece, a 1.7% discount. The secondary transaction represents about 1.2% stake, with Lenskart receiving no proceeds from the sale.
NSE’s much-awaited IPO could be nearing launch as Sebi chairman Tuhin Kanta Pandey says approval of its DRHP is close. The entirely offer-for-sale issue involves 148.9 million shares, or 6% stake, with valuation potentially reaching ₹5.26 lakh crore.
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