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Adani Properties will be the lead partner in the project for which a special-purpose vehicle will be formed. The bid is for the entire project, and the total timeline is seven years to rehabilitate 6.5 lakh slum dwellers who live in an area of more than 2.5 sq km, the PTI report said.

Promoters held 62.4 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 6.99 per cent and 0.89 per cent, respectively.

Though Nifty Bank saw a new peak earlier than Nifty 50, the moves since then, had hardly evoked confidence or reflected a secular bull run that was widely expected.

A total of 232 shares changed hands on the counter till time (IST).

The company is offering its shares in the price range of Rs 475-500, and at the upper end, the valuation is at a P/E of 55-59x. The IPO will fetch Rs 631 crore at the upper end of the price band.

The proposed equity infusion during the quarter should provide growth capital. Valuations at

The company reported a mere 2.3% year-on-year (YoY) rise in net profit for the quarter ended June to Rs 695.36 crore, despite double-digit growth in revenue. The hypermarket chain operator reported an 18% YoY growth in revenue for the quarter at Rs 11,584.40 crore.

After scaling fresh highs last week, stock specific action is likely to continue in the current week with some major private banks including HDFC Bank, ICICI Bank slated to report their earnings.

As of 31-Mar-2023, promoters held 46.64 per cent stake in the company, while FIIs held 11.7 per cent and domestic institutional investors had 0.01 per cent.

The stock quoted a 52-week high price of Rs 2864.35 and low of Rs 2082.15.