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Swiggy has received market regulator approval for its $1.25-billion IPO, signaling strong interest in new-age investments amid India's consumer boom. The Bengaluru-based company will raise 3,750 crore in fresh capital and offer up to 6,664 crore through an offer-for-sale. Major investors like Prosus and SoftBank are expected to sell part of their holdings.
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Equity markets closed nearly unchanged on Tuesday. Shares of EaseMyTrip, Exxaro Tiles, NBCC, PC Jewellers, Delta Corp, and Tata Power will be in focus due to various developments. Notable updates include promoter stake sales, block deals, Supreme Court petitions, stock splits, qualified institutional placements, demergers, and a fire incident at Tata Power's Trombay plant.
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India's key stock indices reached all-time intraday highs, with the Nifty crossing 26,000 and the Sensex breaching 85,000. Despite a choppy session, the indices ended flat. Market sentiment was boosted by rate cuts from the US Federal Reserve and measures from China's central bank to revive its economy.
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