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September 2021
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News Headlines
Former TT champ Martin to retire after world championships        Gill, Rana are about to shock the world: KKR chief mentor Hussey        Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025        Small cars too need adequate number of airbags to ensure safety, says Gadkari        Taliban-run Kabul municipality to female workers: Stay home        Nepal observes Constitution Day; PM Deuba vows to protect, implement statute        Adityanath releases report card; says UP has seen complete transformation under BJP rule        BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba        Charanjit Singh Channi to be next CM of Punjab        Boxing: Mohammad Hussamuddin sails into QF        Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana        Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students        Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh        Schools in Kerala to reopen from Nov 1        Amarinder Singh resigns as Punjab CM, says will not accept Sidhu for top post        Sachin stuns World Championships medallist Gaurav Bidhuri        Sensex, Nifty snap winning streak, end in red        Rahul attacks BJP govt over unemployment issue        International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi        Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs        
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Business News
Rolex Rings IPO fully subscribed within hours of opening
 
New Delhi, Jul 28 (PTI) Auto components maker Rolex Rings initial public offer was fully subscribed within hours of opening on Wednesday.

The IPO received bids for 63,47,712 shares against 56,85,556 shares on offer, translating into 1.12 times subscription, according to data available with NSE till 1125 hours.

Non-institutional investors category was subscribed 7 per cent, while those reserved for retail individual investors (RIIs) 2.20 times.

The initial public offer (IPO) comprises a fresh issue of up to Rs 56 crore and an offer for sale of up to 75 lakh equity shares.

The offer is in a price range of Rs 880-900 per share.

Rolex Rings on Tuesday garnered a little over Rs 219 crore from anchor investors.

At the upper end of the price band, the IPO will fetch Rs 731 crore.

Proceeds from the fresh issue would be used towards funding long-term working capital requirements as well as general corporate purposes.

In addition, the auto component maker expects to receive the benefits of listing the equity shares on the stock exchanges, enhancement of its brand name among existing and potential customers, and the creation of a public market for its equity shares in India.

Based in Rajkot, Gujarat, Rolex Rings is among the leading manufacturers of forged and machined components in the country.

Equirus Capital Private Limited, IDBI Capital Markets and Securities Limited and JM Financial Limited are the managers to the offer.

The equity shares of the company will be listed on BSE and NSE.


Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025
Small cars too need adequate number of airbags to ensure safety, says Gadkari
Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana
Sensex, Nifty snap winning streak, end in red
Bringing diesel, petrol in GST may be discussed in Council meeting, also on agenda is taxing Swiggy, Zomato
PepsiCo set up food plant in Mathura
Without GST documents Arecanut transporting vehicles seized
Wipro and First Horizon Bank forge a cloud-based fintech future for virtualBank
Mahindra XUV700 makes a pitstop in Bengaluru
India's industrial production grew 11.5 per cent in July on low base, recovery
FADA expresses shock over Ford India's announcement to stop manufacturing vehicles in India
FICCI, PHDCCI welcome PLI for textile sector
Domestic air passenger traffic up 31% at 66 lakh in Aug on higher capacity deployment: ICRA
Jio completes 5 yrs of operations; tech world congratulates
Hero MotoCorp and Harley-Davidson expand customer touch points, open bookings for next lot of ‘Pan America 1250’ adventure bike
Rupee inches 3 paise higher to 73.03 against US dollar in early trade
HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore
M Suresh takes over as Member (Air Navigation Services) at AAI
Tata Motors launches Tigor EV with price starting at Rs 11.99 lakh
Google removes 95,680 content pieces in July in India: Compliance report
KERALA NEWS
Schools in Kerala to reopen from Nov 1
 Thiruvananthapuram, Schools in Kerala will be reopened from November 1, Chief Minister Pinarayi Vija  
Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs
PDP leader Poonthura Siraj passes away
Rajya Sabha MP Suresh Gopi courts controversy
INTERNATIONAL NEWS
Taliban-run Kabul municipality to female workers: Stay home
 Kabul, Sep 19 (AP) Female employees in the Kabul city government have been told to stay home, with w
Nepal observes Constitution Day; PM Deuba vows to protect, implement statute
Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students
International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi
NATIONAL NEWS
Adityanath releases report card; says UP has seen complete transformation under BJP rule
 Lucknow, Sep 19 (PTI) Asserting that Uttar Pradesh has undergone a complete transformation under his
BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba
Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh
Rahul attacks BJP govt over unemployment issue
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