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%. With expanding capacity and strong industry growth projections, the company aims to capitalize on rising steel pipe demand.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.