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An SME IPO saw over 400x subscriptions last year but later plunged 50%, raising concerns over sustainability. Sebi introduced stricter norms, capping OFS at 20% and mandating profitability criteria. IPO proceeds can't repay promoter loans, reducing misuse. SME IPO subscriptions have since dropped sharply, curbing grey market activity.
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Parag Parikh Flexi Cap Fund, the largest flexi cap fund based on assets managed, has increased its exposure in Coal India and seven other stocks in February. It added PGCIL, Zydus Lifesciences, Dr. Reddys Laboratories, ITC, Cipla, Mahindra & Mahindra, EID Parry India
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Indian markets closed lower on Thursday amid weak global cues and trade war concerns. Analysts see resilience despite US recession fears. US and European markets rebounded after volatility. Nifty remains in a consolidation phase, with key resistance at 22,550. MRPL, ITI Ltd, and Data Patterns saw strong buying, while KEC International and Zee faced selling pressure.
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