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The IPO of the fintech company had a relatively moderate response from investors as the offer was subscribed 2.03 times during October 28 to November 2.

ONGC has also declared an interim dividend of ₹5.50 per share.

Zomato’s share price rallied 9% on Friday to close at a record high of Rs 153 apiece. The company’s addition to the MSCI India Index could see an inflow of Rs 1,200 crore into the stock.

"We like the scalable and attractive financial profile of the company with a strong leadership team guiding capability development and go-to-market strategy," said a note by Hem Securities.

Goldman Sachs sees macro headwinds emerging as the US Federal Reserve and the Reserve Bank of India tighten financial conditions and crude oil prices stay elevated, which could be risks to the market.

The IPO of PB Fintech has raised some uncomfortable questions over the valuation. That could be why several brokerages have recommended investors to skip this loss-making startup.

Total income fell to Rs 24.52 crore in the second quarter of this fiscal year from Rs 32.98 crore in the corresponding period of the previous year, according to a regulatory filing.

Its consolidated revenue from operations during July-September 2021 stood at Rs 3,147.44 crore. It was Rs 2,952.47 crore for the same period a year ago, it added.

The company reported also an all-time high operating profit (earnings before interest, taxes, depreciation and amortisation) of Rs 8,048 crore, up 55.6 per cent year-on-year.

The company has sold 0.58 mn sq. ft valued at Rs259.25 crore in Q2 2021-22 and the major contributors were New Chandigarh, Lucknow and Delhi.