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Existing shareholders who are looking at selling part of their stake include Carlyle, Singapore-based venture capital fund Genesis Alternative Ventures

The funds raised in Series C round will be used to scale up the Online-to-Offline (O2O) business model, network expansion, investment in technology to enhance services and spares platform for two and four-wheeler customers, it added.

Dealers said mills in India are producing almost no raw sugar at the moment because whites are currently more lucrative, leaving the market short at a time when top exporter Brazil is in between harvests. They added that Indian refiners who normally buy raws locally are actually importing them from the world market, namely from Brazil

The Nifty Realty index was trading 0.19 per cent up at 453.3.

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"The labour market remains tight and there has been evidence of inflationary pressures in domestic prices and wages that could indicate greater persistence and thus justifies a further forceful monetary policy response," the BoE said.

“This is to inform that a meeting of the Board of Directors of Hinduja Global Solutions Limited will be held on Monday, December 19, 2022, inter-alia, to consider a proposal for buy-back of equity shares of face value of Rs 10 each of the company, including matters related / incidental thereto,” said the company’s filing with the exchange.

Fear gauge index India VIX was up by 6.62% from 12.88 to 13.73 levels. Volatility spiked from lows as market reacted sharply on the negative side after a long time but overall it has been hovering at lower levels from the last two months.

The Nifty IT index closed 2.11 per cent down at 29087.95.

The total number of shares to be bought back in the repurchase will be up to 17,14,285 units, representing 3.38 % of the total shares in the paid up equity share capital of the company