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ET had first reported on May 27 that Reliance Industries, HPCL-Mittal Energy, Jindal Poly Films, Gail, Jindal Power, MCPI Ltd, and a consortium of ONGC and Indian Oil have submitted expressions of interest (EoI) for JBF Petrochemicals.

Plans for a stake sale by Bain and Advent were expedited after earlier efforts to list the company in India or the US fizzled out as technology stock valuations faced a global meltdown.

The IPO consists of an offer for sale of up to 1.72 crore shares by the promoters and selling shareholders. Bids can be made for a minimum of 46 shares and in multiples of 46 shares thereafter. The proposed primary offering is open for subscription till Friday, August 26.

The Dow Jones Industrial Average fell 414 points, or by 1.23%. S&P 500 and Nasdaq Composite dropped 1.43% and 1.62%, respectively.

The index has given up almost 500 points in just two trading sessions, whereas Nifty Bank has lost around 1,500 points during this period.

In FY22, a majority of the funds raised through the instrument were to refinance bond issues done in FY17, Icra Ratings said in the report on Monday.Majority of the bonds have a call option in the fifth year, resulting in the significant jump in new issuances which are basically for refinancing the earlier obligations.

“Valuations have moved up both absolute as well as relative to the emerging market pack. It is possible that in the near term, we will see some degree of consolidation or volatility and what we have been saying all through is that this is a year of bottom-up stock picking and that continues to be our stance with a slight tilt towards largecap over midcaps and smallcaps at this point.”

After its recent partnership with YGG, Manel Sort and his team are focusing on expanding across continents through YGG’s sub-DAOs, offering cohort NFT Chests to gamers and guild members, and the opportunity to play G4AL’s upcoming Elemental Raiders.

"The long bear candle of the last two sessions signals a faster downside retracement of the last 5-6 sessions of upmove. This is a negative indication and signal that bears are in a driver’s seat," he said.For the day, the index closed at 17,490.70, down 267.75 points or 1.51 per cent.

Shankar Sharma has come onboard in his personal capacity, said the Annapurna Swadisht press release. Sharma and a few other investors bought a total 7.85 per cent stake in the company.