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Virtual Galaxy Infotech's IPO saw overwhelming demand, being subscribed over 200 times, fueled by strong investor interest across all categories. Allotment finalization is expected today, with investors eagerly awaiting results and a robust grey market premium of 53%. The IPO comprised a fresh issue of 6.57 million shares, aiming to raise Rs 93.29 crore, with listing scheduled for May 19.
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Oil prices declined on Thursday due to potential US-Iran nuclear deal. There was also an unexpected increase in US crude oil inventories. An Iranian official expressed willingness for a deal with the US if sanctions are lifted. Saudi Arabia supports the US-Iran nuclear talks. The US issued sanctions targeting Iran's ballistic missile component manufacturing.
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The comment came after the company's boss refused to rule out opening production plants in America.
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