Mamata Machinery’s IPO was highly subscribed, reaching 194.95 times, with qualified institutional buyers and non-institutional investors leading the charge. The IPO, completely an offer for sale worth Rs 179 crore, had a price band of Rs 230-243 per share. Analysts recommended subscribing due to the company’s niche market position and fair valuation.
Sensex, Nifty break 5-day losing streak
The Volatility Index or VIX – the market’s fear gauge – plunged 10.3% to 13.52 on Monday, suggesting traders see lesser risks in the near