The issue gives a partial exit to private equity investors TPG Asia and HBM. The promoter share will be diluted from 41.8% to 35.2%. The issue proceeds are going to be used for repayment of borrowings.
Rana Gupta from Manulife Investment Management sees opportunities in the financial sector despite mid-cycle challenges. He is cautious about industrial capex driven stocks, considering them
PSU-themed mutual funds have seen negative returns of up to 12% in the last three months, with six funds reporting losses. The Quant PSU Fund,
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