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The rupee finally settled at 75.94 against the dollar, down 1 paise from the previous close.

With this launch, the company aims to scale up its ambition in the financial services sector. GCL will be the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC).

The Nifty IT index closed 1.41 per cent down at 34895.9.

Nagaraj Shetti, Technical Research Analyst at HDFC Securities said a small negative candle was formed with gap down opening, which was placed beside the long positive candle of Friday. Technically, this pattern reflects ongoing sideways movement in the market at the support of 17,600 level, he said.

Though, the dividend might not be much for shareholders, given it is one of the most expensive stocks in the market. The stock ended flat at Rs 18,450 on BSE on Monday.

In the international market, gold was trading higher at USD 1,953 per ounce and silver flat at USD 24.93 per ounce.

“We are in for an exciting period. Godrej Properties has its best ever year for sales in the year that has just completed. Overall, this is going to be an excellent few years for the property market and consequently a great opportunity for housing finance players as well where scale in the industry is set to double quite quickly over the next few years.”

“We have used most of the proceeds for retiring our debt and other obligations. The balance will be used as working capital and some of it will go to other general corporate purposes. The company is in a very strong position because our cash flows are throwing up more funds for operations and expanding working capital.”

Buoyant secondary markets and record primary listings last year drove confidence in the IPO markets, providing a conducive environment for companies to go public and provide a positive element for start-ups and investors to consider IPO as a viable exit strategy, Refinitiv said.

“Today we exist in six languages. We plan to add Odia, Marathi and Bengali and take our footprint national. This is as far as state and central government exams are concerned. We plan to set up a network of offline hybrid centres to complement our online presence. This is expected to give us access to the tier III, tier IV towns in India. ”