Classic Electrodes, a welding consumables manufacturer based in Kolkata, is launching its IPO on August 22, aiming to raise ₹41.51 crore through a fresh issue of shares. The company intends to use the IPO proceeds for purchasing new machinery, repaying debt, and meeting working capital needs. Ahead of the IPO, Classic Electrodes raised ₹11.69 crore from anchor investors.
Global Market: South Korea’s Elice shares plunge 28% in market debut as data centre stocks shunned
Elice, which raised 201.1 billion won ($150 million) in its IPO, provides AI cloud services as well as AI-based education and business software and plans