Kumar Arch Tech, a manufacturer of PVC blend-based building materials, has filed for an IPO to raise Rs 740 crore. The IPO includes a fresh share issue worth Rs 240 crore and an offer-for-sale by promoters worth Rs 500 crore. Proceeds will fund capital expenditure for its subsidiary’s greenfield project.
Shanghai Stock Exchange to run test after transaction delay
The Shanghai Stock Exchange will conduct tests on its auction and other platforms on Sunday following an unexplained transaction delay. The delay occurred during a