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The Nifty Pharma index was trading 0.14 per cent up at 12733.35.

A total of 3,688 shares changed hands on the counter till 11:06AM (IST).

The fund raise plan is within the shelf limit of Rs 1,400 crore.The issue is proposed to be opened on September 5, 2022. It will be closed on September 22.The housing financier said the deemed date of allotment of bonds is fixed at September 28

The board has approved fundraising of up to Rs 800 crore by issuing non-convertible non-cumulative participating redeemable preference shares (NCPRPS) of the face value of Rs 10 each, which constitutes 0.01 per cent of the fully paid-up capital on a private placement basis to the promoters.

In its probe, Sebi found that the scheme of issuance of GDRs was fraudulent as Nakoda had entered into a pledge agreement with European American Investment Bank or EURAM Bank for a loan that had been availed by Vintage towards the subscription of GDRs issued by the company.

The IPO of the Bangalore-based startup includes an issue of 3,62,90,000 equity shares of face value Re 1 each for cash at Rs 10 per equity share. The IPO will not have an offer for sale (OFS) component.Infurnia co-founders Nikhil Kumar and Lovepreet Mann will hold the largest share in the startup at a combined share of 50.64%.

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The Dow Jones Industrial Average traded 88 points higher, or 0.3%. The S&P 500 advanced 0.3%, and the Nasdaq Composite added 0.6%.

Fairfax has more than 10 per cent shareholding in two mutual fund houses - Quantum Mutual Fund and IIFL Mutual Fund.HWIC Asia, an affiliate of Fairfax Financial Holdings, has a 49.2 per cent stake in Quantum Advisors, the sponsor of Quantum Asset Management Company and Quantum Mutual Fund.

“The index is likely to witness selling pressure near 17,815-17,900. However, the overall structure suggests that a sharp decline in the short term is unlikely. What we can expect is a short-term consolidation in the broad range of 17,200-18,000,” Ratnaparkhi said.