BSE Sensex slipped 66 points, or 0.17 per cent lower at 37,668 levels
With its competitive pricing in the prepaid segment, Jio has already eroded the subscriber base of both the incumbent players over the past four years
The portion of qualified institutional buyers was subscribed 42.25 times
Since their March 2020 low, the Indian benchmarks – the S&P BSE Sensex and the Nifty 50 – have gained 47 per cent and 48 per cent, respectively.
The stock rallied 18% to Rs 818 in the intra-day trade today leading to a gain of 134% against the issue price of Rs 350 per share
Those who invest in an IPO are among the first to buy shares in the company after it goes public and hence there is a price discovery that is yet to happen
Reliance Jio announced a range of postpaid plans, including many firsts such as in-flight mobile connectivity
So far in September, Infosys has outperformed the market by surging 13 per cent, as compared to 2.4 per cent decline in the S&P BSE Sensex
It added that the fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000 crore.
According to analysts the proceeds received by SP group after exiting Tata group could be used to repay debt the former owes to Sterling and Wilson Solar