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The National Stock Exchange (NSE), the country's largest bourse, is asking IPO-bound SMEs to have free cash for at least two out of the three years preceding their IPO and provide a utilisation certificate from the statutory auditor to ensure proper use of funds raised through the IPO, said a person with direct knowledge of the matter. The new criteria are in addition to the existing requirements to launch an SME IPO.
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News and Media
Indian banks saw a 10.6% rise in public deposits to 224.7 lakh crore between November 2023 and November 2024, matching the growth in credit. Both term and demand deposits achieved double-digit growth. This balanced growth follows regulatory concerns about potential overheating in retail credit, leading to a more sustainable credit-deposit ratio.
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News and Media
The Nifty retested the rounding bottom breakout at 24,540, undergoing a time-wise correction in recent days. Once complete, an upward move is expected, with key support at the 100-DEMA near 24,350.
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News and Media
The Indian government is considering a 25% safeguard duty on steel imports to address concerns raised by domestic producers about rising imports, especially from China. While over 60% of imports arrive duty-free from FTA countries, the measure aims to protect domestic competitiveness. Imports have increased to 5.
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News and Media
MobiKwik, an Indian fintech company, launched a 572 crore IPO. Starting as a digital wallet, it now offers various financial products, focusing on tier 2 and 3 cities. With a frugal approach and focus on innovation, the company has achieved profitability and aims to expand its user base and product offerings.
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News and Media
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