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India’s IPO market is set for a surge, with over a dozen companies eyeing nearly Rs 10,000 crore fundraising in the next fortnight amid strong liquidity, reforms, and investor demand.
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Sebi has approved IPOs of six companies—Pine Labs, Hero Motors, Canara Robeco AMC, Manipal Payment & Identity Solutions, Orkla India, and Emmvee Photovoltaic Power—via observation letters, enabling them to proceed with fundraising plans.
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Gold traded slightly weaker on Monday amid profit booking before the US Fed policy outcome. October futures held near ₹1,09,180 on MCX, with analysts expecting consolidation as rupee weakness supports domestic bullion prices.
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Sebi has settled proceedings against Deepak Agrawal, a former Axis MF fund manager, after he paid ₹85.8 lakh and surrendered over 43,000 mutual fund units. This action follows allegations of violating market norms, including sharing stock tips and divulging sensitive information. Agrawal settled without admitting or denying the charges.
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Wall Street indexes opened slightly higher on Monday, setting the stage for a week dominated by the Federal Reserve’s policy meeting, while Tesla shares gained following CEO Elon Musk’s stock purchase.
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