The category reserved for retail investors was subscribed 1.82 times, and that of non-institutional investors was subscribed 2.25 times. However, the demand was muted from qualified institutional buyers with just 1% subscription so far on Day 2.
Will RBI announce steep rate hikes? Nomura sees up to 50 bps increase by Dec, dismisses 125 bps hike fears
Nomura expects the RBI to pursue a limited tightening cycle, with a possible 50 bps rate hike by December, as food and energy pressures rise