National News
Major Gold Reserves Unearthed in Odisha: A Game-Changer for India’s Mining Industry
Odisha’s Gold Discovery Sparks Optimism for Growth in the Mining Sector, with Plans for Large-Scale Auction Underway
Odisha has emerged as a promising new hub for gold mining, following the discovery of vast gold reserves across several districts. Bibhuti Jena, the state’s Mines Minister, confirmed the exciting find and announced ongoing exploration efforts. The state is set to hold a large-scale auction of gold mining blocks in the near future to capitalize on this newfound potential.
Key districts such as Sundargarh, Nabarangpur, Keonjhar, and Deogarh have been identified as hotspots for the gold reserves. Exploration is also expanding to regions like Malkangiri, Sambalpur, and Boudh, with more discoveries anticipated. In Mayurbhanj, areas like Jashipur, Suriaguda, Ruaansi, Idelkucha, Maredihi, Suleipat, and Badampahad are under investigation for their mineral potential.
One of the most notable discoveries has been in Deogarh district, specifically in Adasa-Rampalli, an area where gold traces had been found earlier. The Geological Survey of India (GSI) is actively conducting G-2 level exploration in this region, revealing the possibility of multiple mineral resources, including copper.
Keonjhar district is also a key focus for gold exploration, with surveys being carried out in areas like Gopur-Gazipur, Mankadchuan, Saleikana, and Dimirimunda. These efforts form part of Odisha’s larger strategy to develop its mining industry and fully utilize its untapped mineral wealth. The state government is closely involved, and the upcoming auction of gold mining blocks in Deogarh is seen as a major step forward.
The exploration is being carefully monitored by state authorities, the GSI, and the Odisha Mining Corporation, with technical committees set to review the final exploration reports to assess the viability of commercial mining. Early findings suggest promising potential, and final results are expected by the end of 2025.
This discovery further solidifies Odisha’s reputation as a mineral-rich state, while positioning India as a key player on the global mining stage. If the reserves prove commercially viable, the gold deposits could provide a significant economic boost, drawing both domestic and international investments into the country’s mining sector.
National News
Deepa Jewellers IPO GMP Today: Grey Market Hints 16% Listing Gain
Grey Market Premium (GMP) Currently Trading At +₹28 Per Share. This Points Toward An Estimated Listing Price Of ₹205 On The Upper Band
The initial public offering (IPO) of Deepa Jewellers is set to close for subscription today, September 3, following a three-day bidding window that opened on September 1.
Offered in a price band of Rs 168 to Rs 177 per equity share with a face value of Rs 2, the issue required a minimum lot size of 84 shares. The company structured its allocation quota to reserve up to 50% for Qualified Institutional Buyers (QIBs), at least 35% for retail investors, and a minimum of 15% for Non-Institutional Investors (NIIs).
Grey market trends indicate high investor appetite, with the Grey Market Premium (GMP) currently trading at +Rs 28 per share. This points toward an estimated listing price of Rs 205 on the upper band, representing a potential gain of approximately 15.82%. Over the past nine sessions, the GMP has shown consistent upward momentum, reaching peak levels of up to Rs 55.
Following the close of the issue today, the allotment process is expected to be finalized on Friday, September 4. Unsuccessful bidders will see refunds initiated on Monday, September 7, coinciding with the credit of shares to the demat accounts of successful allottees.
Deepa Jewellers is slated to make its official trading debut on both the BSE and NSE on Tuesday, September 8.
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