It will also raise up to Rs 1,151 crore through an offer for sale by promoters and investors. The promoter group’s stake will fall to 44.4% after the IPO from 51.3%.
India’s gold consumption is projected to drop to 650–700 tonnes this year as a sharp price rally hurts jewellery demand. Investment buying remains strong, with
Federal Reserve President John Williams told CNBC on Friday he does not see an imminent need to follow last week’s interest rate cut with another
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