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The IPO of Classic Electrodes, a Kolkata-based welding consumables manufacturer, will open for subscription on August 22. The Rs 41.51 crore issue is entirely a fresh issue of 47.71 lakh shares and will close on Tuesday. The issue is witnessing muted activity in the unofficial market, with the GMP yet to pick up momentum.The company has fixed a price band of Rs 82–87 per share, with a lot size of 3,200 shares for retail investors.On August 21, Classic Electrodes raised Rs 11.69 crore from anchor investors, allotting 13.44 lakh shares ahead of the IPO. The shares are set to list on the NSE SME platform on September 1.Company backgroundFounded in 1997, Classic Electrodes is a well-known player in the welding consumables space. Its product portfolio includes mild steel electrodes, stainless steel electrodes, cast iron electrodes, deep penetration electrodes, and MIG wires, catering to diverse industrial needs.The company operates two manufacturing units in Dhulagarh (West Bengal) and Jhajjar (Haryana), while a third unit in Bahadurgarh (Haryana) was shut in FY24. With 95 permanent employees, Classic Electrodes serves both domestic and select international markets, focusing on industrial clients and distributors.FinancialsFor the 11 months ending February 2025, the company reported revenue of Rs 188 crore and a net profit of Rs 9.6 crore.Objects of the issueThe IPO proceeds will be utilised for funding purchase of new plant and machinery (Rs 10 crore), repayment of certain borrowings (Rs 10 crore) and working capital requirements (Rs 16.6 crore)Analysts will be watching the subscription trends over the next two days for determining listing prospects.

Nvidia has told some component suppliers to suspend production of its H20 AI chip, designed specifically for the Chinese market, the Information reported on Thursday, citing two people with direct knowledge of the communications. According to the report, Nvidia instructed Arizona-based Amkor Technology to stop production of the H20 chips this week and also notified South Korea's Samsung Electronics . Amkor handles advanced packaging for the chip, while Samsung Electronics supplies high-bandwidth memory chips for the model. Neither companies immediately responded to a Reuters request for comment. Meanwhile, Nvidia spokesperson said in a statement, "We constantly manage our supply chain to address market conditions." "As both governments recognise, the H20 is not a military product or for government infrastructure. China won't rely on American chips for government operations, just like the U.S. government would not rely on chips from China," it said. This comes as Chinese authorities last week summoned domestic companies, including major internet firms Tencent and ByteDance, over their H20 chip purchases, expressing concerns over information risks.

Mumbai: It pays to bet on the dark horse in the stock market rather than chase recent winners. A study by DSP Mutual Fund shows that investors who bought the previous year's losing index - across large-, mid-, and small-cap benchmarks represented by the Nifty 100, Nifty Midcap 150, and Nifty Smallcap 250 - at the start of every calendar year earned higher returns than those who bought the prior year's winners.For example, in 2009, large caps gained 4%, midcaps 7%, and smallcaps 8%. At the start of 2010, a contrarian investor would have bought large caps - the previous year's laggards - and earned a 19% return that year. The next year, they would have moved to smallcaps, again picking the underperformer. In contrast, performance chasers would have bought smallcaps in 2010 and midcaps in 2011, ending up with lower overall returns.123442328Between October 2009 and June 2025, a performance chaser earned 12.5%, while a contrarian investor made 15.9%. Investing in the Nifty 500 without any changes would have given 13%, while an equal split between large-, mid-, and small-cap funds would have returned 15.2%.

Mumbai: The Securities and Exchange Board of India (Sebi) is looking to regulate the grey or parallel market, where shares of unlisted companies such as NSE, Chennai Super Kings, Cochin International Airport and Mohan Meakins are traded unofficially. The proposed move will facilitate price discovery for unlisted companies before their shares are officially launched for trading on the bourses and will also boost tax income for the government. This comes at a time when India has emerged as one of the top IPO markets globally, with $2.8 billion raised in Q1 of this year despite global economic uncertainties.Speaking at an industry body event on Thursday, Sebi chairman Tuhin Kanta Pandey said: "Pre-listing information is often insufficient for investors to make an investment decision. Can we come up with a pilot initiative for a regulated venue where pre-IPO companies can choose to trade, subject to certain disclosures?" Highlighting Sebi's thought process further, its whole-time member Kamlesh Varshney said: "There is a market known as the grey market. Can this be regulated within the confines of law? If this market is regulated, prior to an IPO, it can help in price discovery. The government will also receive its fair share of revenue through taxes. This would benefit everyone involved. If a regulatory framework is established with checks and balances... we are working on this ."India's grey market has operated for years with no oversight from Sebi or stock exchanges. However, trading in grey market stocks is legal even though it is unofficial. The grey market price also helps in predicting listing prices. Pandey further said: "Sebi would collaborate with the corporate affairs ministry and stock exchanges to establish a regulated platform for pre-IPO or unlisted companies so that these companies can trade with necessary disclosures." According to RippleWave Equity Advisors' partner Mehul Savla the pre-IPO market largely targets wealthy investors, who are aware of the risks and rewards.“Such investors have the appetite for making investments that are characterised by lack of immediate liquidity, no clear price benchmark and limited information.” He added that such investments are allowed and undertaken by AIFs catering to high net worth individuals (HNIs) and not by mutual funds, which manage retail money. “Such a sophisticated and restricted market may not need or desire regulatory oversight.” Savla further said: “These transactions are usually secondary trades i.e. shares changing hands from one to another and the company often plays no part in facilitating such transactions and hence avoid any regulatory obligations.” Investors trade in grey market stocks through their demat accounts. Brokers gather these stocks from a variety of shareholders, including employees who own company shares, early-stage investors looking to exit, and sometimes, directly from the promoters. The proposed move will facilitate price discovery for unlisted companies before their shares are officially launched for trading on the bourses and will also boost tax income for the government. This comes at a time when India has emerged as one of the top IPO markets globally, with $2.8 billion raised in Q1 of this year despite global economic uncertainties. Speaking at an industry body event on Thursday, Sebi chairman Tuhin Kanta Pandey said: “Pre-listing information is often insufficient for investors to make an investment decision. Can we come up with a pilot initiative for a regulated venue where pre-IPO companies can choose to trade, subject to certain disclosures?” Highlighting Sebi’s thought process further, its whole-time member Kamlesh Varshney said: “There is a market known as the grey market. Can this be regulated within the confines of law? If this market is regulated, prior to an IPO, it can help in price discovery. The government will also receive its fair share of revenue through taxes. This would benefit everyone involved. If a regulatory framework is established with checks and balances… we are working on this .” India’s grey market has operated for years with no oversight from Sebi or stock exchanges. However, trading in grey market stocks is legal even though it is unofficial. The grey market price also helps in predicting listing prices. Pandey further said: “Sebi would collaborate with the corporate affairs ministry and stock exchanges to establish a regulated platform for pre-IPO or unlisted companies so that these companies can trade with necessary disclosures.” According to RippleWave Equity Advisors’ partner Mehul Savla the pre-IPO market largely targets wealthy investors, who are aware of the risks and rewards. “Such investors have the appetite for making investments that are characterised by lack of immediate liquidity, no clear price benchmark and limited information.” He added that such investments are allowed and undertaken by AIFs catering to high net worth individuals and not by mutual funds, which manage retail money.

China has allocated another 7 million tonnes of urea for exports, easing restrictions on the shipment of the crop nutrient further, said people aware of the matter. "Most of this urea will come to India," a person directly involved in the matter told ET on condition of anonymity.China had halted the shipments of urea and some other fertilisers to India in the past few months, but it has begun the process of easing restrictions on supplies of urea to the country. Before the latest allocation, on Wednesday, it had allocated some quantity of urea for exports and India is expected to receive 2-3 million tonnes from that, according to people with knowledge of the matter.India and China have commenced discussions on a trade package covering supplies of critical rare earth magnets, fertilisers and other essentials amid heightening tensions with the US on tariff and the clamour from Indian industry to expedite imports of essential inputs from China.After a significant breakthrough, China conveyed that it has lifted curbs on export of fertilisers, rare earth magnets and tunnel boring machines, bringing relief to farmers during the kharif season, the main planting season for India when farmers sow rice, pulses, oilseeds and maize.Demand for urea in India has surged as farmers want to ensure their crops have enough nutrients after a good monsoon rainfall, with the country receiving a cumulative rainfall of 2.1% above the long period average till August 20, according to the India Meteorological Department.Farmers have sown about 39.86 million hectares under rice as of August 15, up from 36.29 million hectares a year ago. Acreage under maize increased to about 9.28 million hectares from 8.29 million hectares during this period. Both these crops need a significant amount of urea.But data from the Department of Agriculture and Farmers' Welfare shows that as of August 1, stocks of key fertilisers including urea and di-ammonium phosphate are lower compared with the year-ago figures.

Norway-based Norges Bank bought over 14.62 lakh shares worth Rs 158 crore in Clean Science and Technology via block deal on Thursday. Nippon India Mutual Fund, SBI Mutual Fund and Bajaj Allianz Life Insurance Company were also buyers in the bulk deals where promoters Asha Ashok Boob and Ashok Ramnarayan Boob together sold over 1.9 crore shares.Norges Bank on Account of The Government Pension Fund Global bought these shares at a price of Rs 1,077.68 apiece, which is a near 9% discount over the Wednesday closing price of Rs 1,180.80 on the NSE.Nippon India MF which lapped 31.15 lakh shares at Rs 1,075.20 per share, was the largest buyer at Rs 335 crore. Meanwhile, SBI MF took 27.52 lakh shares for Rs 296 crore. Bajaj Allianz bought 8lakh shares, spending Rs 86 crore. The Clean Science shares ended the session with 2.8% decline at Rs 1,147.80.Promoters' 1.9 crore shares represent close to 20% stake in the company.Also Read: Apollo Hospitals promoters to sell stake worth Rs 1,395 crore in block deal: ReportClean Science share price historyOver the past year, Clean Science & Technology shares have declined 24.46%, while year-to-date (YTD) performance shows a drop of 23.36%. In the last six months, the stock has fallen 9.52%, over the past three months it has slipped 6.75%, and in the last one month alone, it has dropped 10.53%.About Clean Science & TechnologyIncorporated in 2003, Clean Science and Technology is one of the leading chemical manufacturers globally. The company produces functionally critical specialty chemicals, including Performance Chemicals (MEHQ, BHA, AP), Pharmaceutical Intermediates (Guaiacol, DCC), and FMCG Chemicals (4-MAP, Anisole).(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)