Indian stock market is expected to open on a mild to positive note. Economists see the country's economic growth at a four-quarter high with the GDP estimated in the range of 7.8-8.5 per cent in Q1FY24, almost in sync with the projection by the RBI at its latest bi-monthly monetary policy committee. Stocks to watch out for Thursday’s trading session include Zee Entertainment’s one time settlement with Yes Bank, Sula Vineyard’s block deal and listing of Aeroflex Industries amongst others. Join Nickey Mirchandani in a conversation with Chandan Taparia---Senior Vice President, Head - Derivatives & Technical Research , Motilal Oswal and Ambareesh Baliga---Independent market Analyst
The IPO of the company, which makes advanced hoses catering to a range of high-tech and specialised sectors, opened on August 22 and was fully subscribed on Day 1
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Aeroflex Industries has fixed a price band of Rs 102-108 for its IPO, which opens on August 22. The issue will be available for public subscription till August 24. The IPO consists of a fresh issue of equity shares worth up to Rs 162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter Sat Industries. Aeroflex is a subsidiary of Sat Industries, which is a listed company. Catch Nickey Mirchandani in conversation with Asad Daud, Managing Director, Aeroflex Industries.
The issue aims to raise Rs 351 crore from its initial offer and net proceeds will be used for repayment of debt and funding for working capital requirements.
SAT Industries sold 4.05 percent equity shares held in its material subsidiary, Aeroflex Industries Ltd, to Ashish Kacholia and Bengal Finance & Investments Private Ltd for an aggregate amount of Rs 40.56 crore.
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