Latest Market News Live Updates: September 12, 2024
Western Carriers IPO: Firm Garners ₹148 Crore
Western Carriers, a logistics solutions provider, has raised ₹148 crore from anchor investors ahead of its initial public offering (IPO). The company allotted 74 lakh shares at ₹200 per share to 15 anchor investors, including the Government of Singapore, HDFC Mutual Fund, and ICICI Prudential Mutual Fund.
The IPO is expected to open for subscription on September 15, 2024, and close on September 19, 2024. The company plans to use the proceeds from the IPO to expand its fleet, repay debt, and meet working capital requirements.
Key Points
* Western Carriers has raised ₹148 crore from anchor investors. * The IPO is expected to open for subscription on September 15, 2024. * The company plans to use the proceeds from the IPO to expand its fleet, repay debt, and meet working capital requirements. In addition to the Western Carriers IPO, here is an update on other key market movements: * Sensex gains 200 points in early trade, Nifty above 18,000. * Reliance Industries shares rise 2% ahead of quarterly results. * HDFC Bank shares hit a record high after strong loan growth. * IT stocks under pressure as rupee appreciates. * Gold prices slip on stronger dollar. I hope this information is helpful. Please let me know if you have any other questions.
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