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Telecom behemoth Jio Platforms Ltd's Rs 30,213-crore initial public offering witnessed strong response from investors as it was fully subscribed within 100 minutes of opening on Wednesday, making it the fastest among India's mega-issues to attract bids for all shares on offer, as institutional investors led an early rush for the country's largest-ever IPO. According to data available on the National Stock Exchange at 5 pm, the issue attracted bids for 59,24,77,812 crore shares against 19,75,25,934 crore shares on offer, translating into overall subscription of 3 times on day 1. The offering remains open until October 23. High demand from qualified…

Benchmark indices Sensex and Nifty pared early gains to end the session in the red as elevated crude prices and continued FII selling overshadowed optimism surrounding India-US trade negotiations. The 30-share BSE Sensex closed 143.21 points or 0.19 per cent lower at 73,709.69. During the day, the benchmark hit a high of 74,682.19 and a low of 73,229.45, gyrating 1,452.74 points. Similarly, the 50-share NSE Nifty shed 77.60 points or 0.34 per cent to close at 22,811.35. Similarly, the broader market ended the session in the red. The BSE MidCap Select Index fell 253.35 points, or 1.46 per cent, while…

Known for its home-use water purifiers, KENT is expanding into the power and energy storage business. To support this, it has formed a new division, "KENT New Energy," and launched lithium batteries, solar hybrid inverters, and smart power backup products. The company aims to provide relief from power cuts and promote solar energy use in homes. For this expansion, the company has invested approximately Rs 250 crore in Noida. Lithium batteries up to 16 kWh launched KENT has introduced lithium batteries with capacities of 5.1 kWh, 11.8 kWh, and 16 kWh for solar energy storage. These batteries can store electricity…

The initial public offering (IPO) of Jio Platforms Ltd, a digital technology and connectivity conglomerate, opens for subscription today, i.e., Wednesday, October 21. The three-day subscription window will end on October 23. Valued at up to Rs 30,213 crore, the massive public offering is structured entirely as a fresh issue of up to 27 crore shares, meaning all proceeds will go directly to fuel the company’s business growth rather than provide an exit for existing stakeholders. Meanwhile, Jio Platforms' Rs 8,110-crore anchor book attracted demand exceeding 30 times the amount on offer, with aggregate institutional bids reaching around Rs 2.5…

Shares of HD Fire Protect, a manufacturer of fire protection equipment, made a strong debut on the bourses today, listing at a premium of nearly 24 per cent over the issue price of Rs 271 apiece. The stock opened at Rs 335 on the National Stock Exchange (NSE), marking a premium of 23.62 per cent. On the BSE, the shares debuted at Rs 334.40, up 23.39 per cent over the issue price. It gained further to hit a high of Rs 338, before profit booking and falling to the intraday low of Rs 301, down Rs 33.4 or 9.98 per…

Jio Platforms' initial public offering (IPO) is drawing a strong investor response, with the issue fully subscribed within minutes of opening. The IPO was fully subscribed in just the first 100 minutes. The issue saw the portion reserved for Qualified Institutional Buyers (QIBs) fully subscribed at over 3x demand. According to data available on the National Stock Exchange (NSE), the portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 3.77 times. The portion reserved for Non-Institutional Investors (NIIs) was subscribed 30 per cent, while the retail investor category saw 27 per cent subscription. Overall, the IPO got bids for 23,27,13,888 shares against…