C2C Advanced Systems’ IPO grey market premium dropped to about 40% after SEBI intervened, prompting a listing postponement and a withdrawal option for investors. Sebi’s action follows concerns and requires an independent audit of the company’s financials. The IPO, initially subscribed nearly 96 times, faces scrutiny similar to Trafiksol ITS Technologies earlier this year.
Short-term market weakness likely; defensive sectors poised to outperform: Rohit Srivastava
Rohit Srivastava suggests the recent market rally from early April might be ending, entering a corrective phase influenced by geopolitics and the upcoming FOMC meeting.