Business
International Gemmological IPO subscribed 72% on Day 2 of offer
NEW DELHI: The initial public offer of diamond grading firm International Gemmological Institute (India) Ltd got subscribed 72 per cent on the second day of share sale on Monday. The initial share sale received bids for 4,24,06,035 shares against 5,85,60,902 shares on offer, as per NSE data.
Retail Individual Investors (RIIs) part got subscribed 2.44 times while the category for non-institutional investors received 83 per cent subscription. The portion for Qualified Institutional Buyers (QIBs) fetched 9 per cent subscription.
Blackstone-backed International Gemmological Institute (India) Ltd on Thursday mobilised Rs 1,900 crore from anchor investors.
The issue, with a price band of Rs 397-417 per share, will conclude on December 17.
The Rs 4,225-crore IPO is a combination of a fresh issue of equity shares worth Rs 1,475 crore and an Offer-for-Sale (OFS) valued at Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone.
The company proposes to utilise the proceeds from the fresh issue for the acquisition of IGI Belgium Group and IGI Netherlands Group from promoter, and general corporate purposes.
International Gemmological Institute (India) Ltd provides services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones.
Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets are book-running lead managers to the issue.
The shares of the company are expected to be listed on the BSE and NSE.
Business
Stock market holidays 2025: BSE, NSE release holiday calendar for 2025 – check full list of month-wise stock market holidays
Stock market BSE, NSE holidays 2025: The stock exchanges in India have announced 14 trading holidays for 2025. In February, May, November and December there will be one holiday, while March and August will have two holidays each. April and October will see three trading holidays each.
This schedule was released by the stock exchange authorities a few days ago
BSE, NSE Stock Market Holidays 2025: Full list
- The first stock market holiday of 2025 will be on February 26, Wednesday, for Mahashivratri celebrations.
- March holidays are scheduled for the 14th (Friday) for Holi and 31st (Monday) for Id-Ul-Fitra (Ramzan Id).
- Three holidays in April fall on the 10th (Thursday), 14th (Monday) and 18th (Friday), marking Shri Mahavir Jayanti, Dr. Baba Saheb Ambedkar Jayanti and Good Friday respectively.
- Maharashtra Day will be observed on May 1 (Thursday). The markets will be closed on August 15 (Friday) for Independence Day and August 27 (Wednesday) for Ganesh Chaturthi.
- October’s three holidays include Mahatma Gandhi Jayanti/Dussehra on October 02 (Thursday), Diwali on October 21 (Tuesday), and Diwali Balipratipada on October 22 (Wednesday).
- The exchanges will conduct Muhurat Trading on Tuesday, October 21, 2025, with timing details to be announced later.
- Trading will be suspended on November 5 (Wednesday) for Prakash Gurpurb Sri Guru Nanak Dev Jayanti and December 25 (Thursday) for Christmas.
Several holidays coincide with weekends: Republic Day (January 26), Shri Ram Navami (April 06) and Muharram (July 06) fall on Sundays, whilst Bakri Id occurs on Saturday, June 7.
Business
Indian Railways plans centrally heated sleeper train, special Vande Bharat chair car for Kashmir – check features
Indian Railways eyes two special trains for Jammu & Kashmir! Indian Railways plans to introduce two new train services to enhance Kashmir connectivity in the coming month.
A centrally heated sleeper train will operate between New Delhi and Srinagar, offering a 13-hour journey through snow-covered mountains and across the 359-m-high Chenab Bridge, which is the world’s highest railway arch bridge. The train will provide premium comfort but will not include second-class sleeper coaches, sources told ET.
Previously it was being speculated that the Vande Bharat sleeper would debut on the Kashmir route, but that doesn’t appear to be the case now.
Vande Bharat for Katra-Baramulla Route in Jammu & Kashmir
- For the Katra-Baramulla route, an eight-coach Vande Bharat train with chair car seating will be introduced, a senior railway official told the financial daily.
- The
Vande Bharat Express for Jammu & Kashmir also incorporates specialised features including silicon heating pads for water tanks to prevent freezing, and toilets with warm air circulation through specially designed ducts. - In a first for Indian Railways, the loco pilots’ front glass contains embedded heating elements to prevent frost formation in sub-zero temperatures.
- The service will reduce the 246-km Katra-Baramulla journey time to three-and-a-half hours, significantly faster than the current 10-hour bus journey. Baramulla railway station lies 57 km beyond Srinagar.
Jammu & Kashmir Train Connectivity
Katra, which serves as the entry point to the Mata Vaishno Devi shrine and attracts numerous pilgrims, currently has a 16-coach Vande Bharat Express connection to New Delhi operating six days weekly.
The railway official said, “Once the Katra-Baramulla Vande Bharat becomes operational, likely by late next month, passengers will be able to seamlessly journey from New Delhi to Katra in our existing Vande Bharat and then transfer to the new service to reach Srinagar or Baramulla.”
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