We are all aware markets do not like uncertainty of any type, and by nature, it is forward-looking. Hence, it reacts either positively or negatively depending upon the underlying developments.
Sambhv Steel Tubes is launching an IPO to raise ₹400 crore for debt repayment and ₹100 crore through an OFS, diluting promoter stake to 56%.
The company allotted 45 million shares at upper price band of ₹740 apiece to these institutional investors. Anchors include LIC, ICICI Prudential Mutual Fund, SBI
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