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The IPO comprises a fresh equity issue of Rs 1,000 crore and an offer for sale of up to 47.69 lakh shares. Under the OFS, Prabhat Agrawal, Prem Sethi, Orbimed Asia Iii Mauritius, Chethan MP, Deepesh T Gala, among others, will offload shares.

The U.S. dollar rose on Thursday but held below a 12-week high reached earlier in the week, as traders digested comments from policymakers in the previous session that suggested rates would remain higher for longer.

The double-digit growth in volumes is expected mainly due to a healthy recovery in the domestic market, while discounts during the festival season restricted realisations’ growth to 2% YoY, analysts said.

The Wadia Group-owned company reported a consolidated profit of 30.54 billion rupees ($368 million) in the three months to Dec. 31, compared to a loss of 1.01 billion rupees last year.

Rate-sensitive banking and financial services, auto, realty and commodity shares remained under pressure while energy and IT shares advanced.

The Dow Jones Industrial Average rose 42.09 points, or 0.1%, at the open to 38,719.45.

The initial public offer (IPO) of Alpex Solar is generating strong interest among investors with an overall subscription at 16 times so far on Thursday, the first day of bidding process. The Rs 74.5 crore SME IPO is completely a fresh equity issue of 64.8 lakh shares.

The Indian rupee ended little changed on Thursday after the Reserve Bank of India kept its benchmark policy rates unchanged, with the focus now on U.S. economic data and remarks from a Federal Reserve official due later in the day.

The Nifty IT index closed 0.22 per cent up at 37851.6.