Stock Opens at ₹75 Against IPO Price of ₹53 Despite GMP Indicating ₹88; 244x Subscription Highlights Exceptional Investor Demand

India’s newly introduced stock-market closing auction is facing an important test as sharp price movements continue despite a substantial increase in trading activity.

Shares of Skyways Air Services made a disappointing debut on the stock exchanges on Tuesday, September 1, despite the logistics and freight-forwarding company receiving overwhelming demand during its initial public offering.

Shares of Symbiotec Pharmalab made a muted debut on the stock exchanges on Tuesday, September 1, with the stock listing close to its IPO price despite exceptionally strong demand during the public issue.

The rupee opened at 95.06 per US dollar at the interbank foreign exchange market and subsequently strengthened to 94.96.

According to Motilal Oswal Financial Services (MOFSL), the current recovery is different from earlier periods when NBFC earnings were largely supported by provision reversals and lower-than-expected credit costs.

The issue comprises an entirely fresh issue of 52.30 lakh equity shares, with no Offer for Sale component. At the upper end of the price band, the issue will raise approximately ₹125 crore.

The warning was issued by the National Cybercrime Threat Analytics Unit (NCTAU), a unit under the Union Home Ministry's Indian Cyber Crime Coordination Centre (I4C).

The Government of India has moved to establish Indian Standard Time (IST) as the single official time reference for official and commercial activities, creating a common framework for accurate and synchronised timekeeping across the country.