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Calendar year 2023 will be the year to repair margins... It is going to be kind of a consolidation year on the demand side, supply side and on the overall financial performance, said TCS CEO Rajesh Gopinath

RBI in July hiked the external commercial borrowing limit to $1.5 billion

The company has done well over the past two years thanks to the strong bounce back in demand after the pandemic

The IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of 75,00,000 shares by promoters.Of the total proceeds from the fresh issue, the company plans to use Rs 50 crore to repay debt, and infuse Rs 240 crore into arm IKIO Solutions for setting up a manufacturing facility in Noida, Uttar Pradesh.

The Dow Jones Industrial Average rose 0.99 points, or 0.00%, at the open to 32,921.45

The company will launch its IPO over 11 months after receiving approval from Sebi. Ascent Capital is set to sell up to 2 crore shares through an offer for sale, while the company will raise Rs 60 crore through fresh issue of equity shares.

Allied Blenders makes foreign liquors and its flagship brands include ‘Officer’s Choice Whiskey’, ‘Sterling Reserve’, and ‘Officer’s Choice Blue’. The company’s brands are sold across 30 states and Union Territories.

The promoters will offer up to 4% discount from the current market price for the stake in the fast moving consumer goods major

The IPO consists of a fresh issue of shares worth up to Rs 200 crore, and an offer for sale (OFS) of up to 31,46,802 equity shares by promoters and other shareholders.

In the short term, NIfty should rally to 18530-18550, then we will take it from there. 18200 is the support for Nifty, a break below this and the Nifty could trade towards 18100. Tread with extreme caution on the market.