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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Chamunda Electricals IPO subscribed over 28 times so far on Day 2: Check GMP, price band and other details
Chamunda Electricals was fully subscribed on Wednesday with an overall subscription of 28.5 times as of 12:22 pm on the second day of bidding. The IPO, a book-built issue of Rs 14.60 crores, offering a fresh issue of 29.19 lakh shares, will be available for investors to bid till February 6.
The retail portion of the issue was subscribed 43.2 times, while the issue was subscribed 24.1 times in the non-institutional investors’ category on the second day of bidding. Meanwhile, the qualified institutional buyers had subscribed by 6.02 times the allotted portion.
Chamunda Electricals IPO’s GMP on Day 2
Ahead of listing, the company's shares were trading at a grey market premium (GMP) of Rs 13 in the unlisted market on Wednesday, reflecting a 26% premium over the upper end of the IPO price band of Rs 50.
Proceeds from the IPO
The net proceeds from the IPO will be allocated for capital expenditure to acquire new testing kits and equipment, support working capital, repay debt, and fund other general corporate purposes.
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Even at $5 trillion, Nvidia is underappreciated
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21.05 / 09:47
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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