KRN Heat Exchanger and Refrigeration, a component manufacturer for the air-conditioner industry, saw its market value more than double during their trading debut on Thursday. After hitting a high of Rs 513 and a low of Rs 450, the stock finished at Rs 478.5, up Rs 258.5, or 2.2 times over its issue price of Rs 220. The gains came despite a selloff in the overall market. The stellar listing follows a strong debut for KRN’s shares during its maiden share sale.
Sebi reduces trading size of privately placed Invits
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The Securities and Exchange Board of India (Sebi) has drastically reduced the trading lot size of privately placed infrastructure investment trusts (Invits) to Rs 25 lakh in a bid to boost investors’ participation and increase liquidity of such investment vehicles. The current trading lot for secondary market trading for privately placed Invits is set at Rs 1 crore. Further, if the Invit invests at least 80 per cent of its asset value in completed and revenue-generating assets, then the trading lot is Rs 2 crore. PTI
First Published: Oct 03 2024 | 11:04 PM IST
