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"The GBI-EM Global Diversified 10% Cap 1% Floor (GBI-EM Global 10/1) is designed to track the performance of bonds issued by emerging market governments and denominated in the local currency of the issuer," said an index research report by JP Morgan, dated August 31.

The company proposes to utilise the proceeds from the fresh issue towards funding capital expenditure towards setting up 30 new stores, repayment of certain borrowings, and general corporate purposes.

The company reported a revenue of ₹1,554 crore in FY23 with a net loss of ₹63.86. With a market share of 19%, the company is one of the largest real estate developers in the National Capital Region of Delhi in affordable and lower mid-segment housing.

Its stock opened at $56.1 per American Depositary Share compared with the initial public offering (IPO) price of $51, in a sign of confidence for other companies planning to list

The dollar index was last up 0.5% at 105.18, just off the 105.31 level hit earlier in the day, its highest since March 10

Its shares opened up 10% and continued climbing in early trading, at one point rising 20% before settling up closer to 17 percent.

The exporter-heavy FTSE 100 index rose the most in over 10 months, soaring 2.0%. The midcap index mirrored the moves and was up 1.8%.

The portfolio will be managed by Integrow Asset Management and powered by WiseX’s proprietary technology. The fund aims to enable investors in generating alpha and risk adjusted returns by investing in the real estate sector in a focused Multicap portfolio