National News
Gold hovers around Rs 1 lakh/10gm, MCX gold prices breach ₹99,000
Gold prices in the retail market of Delhi surged to a historic high of ₹1 lakh per 10 grams on Tuesday, driven by strong safe-haven and investment demand for the yellow metal. Gold bullion rates in Mumbai reached ₹97,380/10 gm.
On the Multi Commodity Exchange (MCX), gold prices breached the ₹99,000 mark for the first time, mirroring the rally in international bullion prices. Weakened risk appetite among investors further bolstered the demand for gold as a safe-haven asset.
MCX gold rate opened higher at ₹98,753 per 10 grams, compared to the previous close of ₹97,279. Gold prices rallied by ₹1,899 or 1.95% during the session, hitting a new all-time high of ₹99,178 per 10 grams.
In the international market, gold extended its record-breaking rally amid mounting investor concerns following US President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell.
National News
Deepa Jewellers IPO Subscribed 43x
Bids From Non-Institutional Investors Spearheaded The Rally, Oversubscribing Their Reserved Allotment By Nearly 106 Times.
Massive Demand: Deepa Jewellers’ Rs 460-crore ($55M) public offer closed 43 times oversubscribed on its final day of bidding.
Non-Institutional Lead: Bids from non-institutional investors spearheaded the rally, oversubscribing their reserved allotment by nearly 106 times.
Anchor Backing: The company secured Rs 138 crore from marquee anchor investors, including Motilal Oswal Finvest and WhiteOak CapitalMutual Fund, prior to the mlaunch.
Market Debut: Shares of the B2B gold supplier are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 8.
Gold jewellery supplier Deepa Jewellers saw massive investor appetite for its initial public offering, finishing its final day of book-building nearly 43 times oversubscribed on Thursday.
According to National Stock Exchange (NSE) data, the Rs 460-crore public issue received bids for more than 78.9 crore shares against an available pool of 1.85 crore shares.
The issue carried a price band of Rs 168 to Rs 177 per share, valuing the company at an estimated market capitalization of roughly Rs 1,700 crore at the upper end of the range. The offering comprised a fresh issue of equity shares worth up to Rs 250 crore alongside an offer-for-sale (OFS) of more than 1.18 crore shares.
Ahead of the public rollout, the Telangana-based company raised Rs 138 crore from prominent anchor investors, drawing capital from domestic heavyweights like Motilal Oswal Finvest and WhiteOak Capital Mutual Fund.
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