 "Exchanges announce Muhurat Trading session; Blue Jet IPO subscribed 8x")
The stock exchanges on Friday announced that the stock market will open from 6pm to 7.15 pm for Muhurat Trading on November 12 on the occasion of Diwali. This includes a 15-minutes window for pre-open session while the block deal window will open at 5.45 pm. During Muhurat Trading, equity segment, equity derivatives, commodity derivatives, Electronic Gold Receipts, and currency derivatives will open for nearly an hour for investors to take token trades marking the beginning of the new Samvat.
Blue Jet IPO subscribed 8 times on final day
The initial public offering (IPO) of Blue Jet Healthcare garnered nearly 8 times (X) subscription on the final day of bidding on Friday. The high-networth individual and retail portion of the issue were subscribed 13.6X and 2.2X, respectively, while the institutional investor portion was covered nearly 14 times. Blue Jet’s IPO comprises only secondary share sale worth Rs 840 crore. The price band for the IPO was set at Rs 329-346 per share. At the top-end of the price band, Blue Jet is valued at Rs 6,000 crore. For the three-month period ended June 30, Blue Jet had clocked net profit of Rs 44 on a total income of Rs 185 crore.