The National Stock Exchange’s (NSE) decision to cap the issue price of small and medium enterprises’ (SMEs) initial public offerings (IPOs) at 90% in the special pre-open sessions comes at a time when there has been growing concerns about the significant oversubscription and listing gains in the segment.

Sample this: In 2024, at least four SME IPOs were listed at a premium of a whopping 300-400%.

But that’s not all. Oversubscription has also been hitting new records. The recent example is HOAC Foods, which was subscribed a record 1,834 times and the retail investor portion received 2,350x subscription. The manufacturer of flour and spices launched its Rs 5.54-crore fixed price public issue on May 16 with an offer price of Rs 48 per share. It got listed at a premium of slightly over 200%.

The surge in the number of SME issues listing with exorbitant gains has been quite eye-popping. In the first six months of 2024, 39% of 117 SME IPOs were listed with o…

Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers.

Brent crude oil futures rose 6 cents to $90.98 a barrel by 0004 GMT, while U.S. West Texas Intermediate crude (WTI), rose 11 cents to $89.34 per barrel.

The Organization of the Petroleum Exporting Countries and allies, or OPEC+, is expected to keep output policy unchanged when it meets on Wednesday, after members Saudi Arabia and Russia extended output cuts to the end of the year.

Market rally leads to higher regulatory fees for stock exchanges Meghalaya High Court bans single-use plastic – How grave is plastic use crisis in India? Mining stocks NMDC, Vedanta, Hind Zinc, MOIL, Coal India plunge as much as 5% after SC allows states to collect past dues on royalties Eicher Motors jumps over 5% on strong Q1; Brokerages see as much as 20% upside

Saudi Arabia is expected to raise its November official selling price…

By Gaurang Somaiya

Rupee earlier in the month came under pressure and fell to fresh all-time lows after data showed trade deficit widened to the highest level in 10-months to $24.2 in August as compared to $20.7 billion in the previous month. At the end of the week, there was an announcement that came in from JP Morgan to include India into its emerging market bond indexCome from Sports betting site. The index provider will add the securities to the JPMorgan Government Bond Index-Emerging Markets starting June 28, 2024 and will have a weightage of a maximum weight of 10% on the index. The inclusion is likely to prompt flows of close to $30billion thereby lending strength to the rupee. In line with expectation the Federal Reserve held rates unchanged but hinted for one more rate hike in this year. Recent indicators suggest that economic activity has been expandi…

Take-Two’s latest earnings report only has the barest direct mention of Grand Theft Auto 6, which says that active development is “well underway” on GTA 6–the same wording Rockstar used when it announced the game over a year ago. CEO Strauss Zelnick has dropped a hint that the company will be releasing something major in the 2025 fiscal year, however, which seems likely to be the highly anticipated GTA sequel.

It’s clear from Take Two’s forecasting that GTA 6 won’t be released within the 2024 fiscal year, which ends on March 31 2024–though it was already unlikely that we would see the game that early. Take-Two CEO Strauss Zelnick instead hinted that the 2025 fiscal year, which runs from April 2024 to March 2025, would have a “a significant inflection point…which we believe will include new record levels of operating performance.” It’s highly likely that the inflection point refers to Grand Theft Auto 6’s release, as one of the most-anticipated games currently known to be i…

PC peripherals brand Glorious has been around for a while, launching numerous great mice, keyboards, wrist rests, and more. But none of its products have been as eye-catching as its GMMK Pro keyboard–a new product that aims to make getting your hands on a custom keyboard kit easier while also opening the hobby to a much larger audience.

Custom keyboards have been an expensive and relatively small hobby for a while, but recently the scene has seen an explosion of interest. This doesn’t mean many of the components you need to make your own board are easy to get. Many kits, like the one Glorious is selling with the GMMK Pro, can usually only be purchased through extended group buys or in limited-quantity sales, meaning you’re either going to need to get lucky or have a lot of patience to get one.

The GMMK Pro aims to change that while also being a compelling option at its price point. Glorious ran its own pre-sale period for this keyboard earlier this year, but starting Ju…

BGaming has successfully ventured into the regulated Bulgarian market through a strategic partnership with leading operator Inbet. This collaboration marks a significant milestone for BGaming as it integrates its entire gaming portfolio, including popular titles such as Bonanza Billion, Elvis Frog in Vegas, and Wild Cash, with Inbet’s platform. The move follows BGaming’s sustained success in nearby markets like Romania and Serbia.

Integration with Inbet’s platform:

Inbet, one of Bulgaria’s largest online casinos, offers over 3,300 games from more than 40 top providers. With the integration of BGaming’s collection, Inbet’s extensive catalogue now features an additional 150+ highly engaging games. This partnership is set to enhance Inbet’s offerings and provide a broader range of gaming experiences to its users.

BGaming’s expansion in Europe:

This latest partnership underscores BGaming’…

In a recent development, Federal Court Justice Michael Lee has raised doubts about Crown’s assertion that it cannot afford to pay the AUD450 million ($301 million) fine imposed by AUSTRAC in a single payment. The fine was levied against the casino giant for numerous breaches of anti-money laundering and counter-terrorism laws.

Justice Lee Questions Crown’s Financial Predicament in Landmark Court Proceedings

During the court proceedings, Justice Lee emphasized that the penalty was already at the lower end of what would be considered an appropriate punishment for the company’s “absolutely egregious” misconduct, reported the Australian Financial Review. Crown’s suggestion to pay the fine over a two-year period would reduce its net present value to AUD406 mil…