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Wakefit Innovations has filed its draft red herring prospectus with Sebi for an IPO comprising a fresh issue worth up to Rs 468.2 crore and an offer for sale of 5.83 crore shares. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with key investors, will offload stakes. The Bengaluru-based firm plans to use proceeds for expansion, equipment purchases, leases, and marketing.
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The charity has given out nearly half a million items such as nappies and clothes since it was set up.
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Indian market is expected to open higher, mirroring positive global trends. Nifty futures closed with a 1.20% gain, while India VIX decreased by 3%. Experts recommend buying RIL, National Aluminum, Bajaj Auto, Axis Bank, Shriram Finance, Union Bank, Tata Steel, ICICI Bank and SAIL for short-term gains.
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