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Nisus Finance Services Co Ltd on Friday said it aims to raise over Rs 114 crore through its initial public offering (IPO) which will open for subscription on December 4. The issue, with a price band of Rs 170 to Rs 180 per share, will conclude on December 6. The anchor book bidding will open for a day on December 3. The company, which is engaged in transaction advisory as well as fund and asset management services, will list on the BSE SME platform. The IPO of 63.46 lakh equity shares comprises fresh issue of 56.45 lakh shares and an offer for sale (OFS) of 7 lakh shares, the company said in a statement. At the upper end of the price band, the IPO size has been pegged at Rs 114.24 crore. Proceeds from the issue will be utilised to enhance fund set-up, obtain additional licenses, and improve facility and fund management infrastructure in key financial hubs like IFSC-Gift City, DIFC-Dubai and FSC-Mauritius. It also plans to cover fundraising costs and placement fees for domestic and international markets, invest in its associate company Nisus Fincorp to boost its capital base, and address general corporate purposes. "As we prepare for our IPO, this milestone marks a significant achievement for Nisus Finance, highlighting our progress and advancements in transaction advisory services and fund and asset management since our inception," Amit Anil Goenka, Chairman & Managing Director of Nisus Finance Services Co, said. "The upcoming IPO represents an exciting new chapter for our company. We believe going public will drive the company's growth by enhancing operational capabilities, expanding market reach and strengthening our financial foundation," he added. Nisus Finance Services Co Limited specialises in real estate financing and capital markets with over 15 years of experience. It operates under the "Nisus Finance Group" or "NiFCO" brand. In FY24, the company recorded a revenue of Rs 42.13 crore and a profit after tax (PAT) of Rs 22.87 crore. The company managed assets worth Rs 1,012 crore as of FY 2024. Beeline Capital Advisors is the book running lead manager to the issue, while Skyline Financial Services is the registrar to the issue.

Indian headline indices closed in the green on Friday aided by pharma and auto stocks. While Nifty finished at 24,131.10, gaining 216.95 points or 0.91%, the 30-stock S&P BSE Sensex settled at 79,802.79, higher by 759.05 points or 0.96%.This week was marked by consolidation as prices remained range-bound after Monday's gap-up, Rajesh Bhosale, Equity Technical Analyst at Angel One said. Decoding the daily chart, he said that a defined range has emerged with the support base shifting higher to the 24,000–23,900 zone while on the flip side, the 50 DEMA and 89 DEMA continue to act as a formidable resistance around the 24,350–24,400 zone.What should traders do? Here’s what analysts said:Jateen Trivedi, LKP SecuritiesFollowing a positive morning session, the Nifty moved sideways in the afternoon, trading mostly within the 24,050-24,150 range. The sentiment appears slightly improved as the index held above 23,870. Going forward, the trend might remain sideways to positive in the short term, provided it stays above 23,870. On the higher end, resistance is observed at 24,400-24,500.Jatin Gedia, Mirae Asset SharekhanNifty opened on a flat note and witnessed a recovery after the steep decline in the previous trading session closing with a gain of ~217 points. On the daily charts we can observe that the Nifty did not witness follow through selling pressure from the previous trading session and in fact regained most of the lost ground. Both daily and hourly momentum indicators are now in sync. Thus, both price and momentum indicators point towards continuation of the upward move towards 24,400. On the downside 23800 is the crucial support zone.Hrishikesh Yedve, Asit C. Mehta Investment Intermediates Nifty opened flat, experienced considerable buying demand, and concluded the day on a high note around 24,131 levels. The volatility index India Vix cooled off by 5.12% to 14.43, indicating a drop in market volatility.Technically, on a daily chart, the Nifty has reclaimed the support of 21-Days exponential moving average (DEMA) and formed a green candle, which indicates strength. On the upside, the index will find immediate hurdles near 24,350-24,360 levels. The 21-DEMA is placed near 24,080, which will act as immediate support for the index followed by 23,570, where the 200-Days exponential moving average (DEMA) support is placed. As long as the index persists below 24,360, traders should focus on booking profits on bounce and wait for fresh breakout.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Cipla promoters are likely to sell up to 1.72% stake in the company via block deals. The company may set the offer price at Rs 1,442 per share according to a report which has estimated the block size at Rs 2,000 crore.Approximately 1.39 crore shares could be on the block, according to the report by CNBC-TV18 which cited sources. At this offer price, the shares will be off-loaded at a 6% discount over Friday's closing price of Rs 1,532. Today, Cipla shares settled higher by Rs 39.25 or 2.63% over Thursday's closing price.The promoters of Cipla had in May this year sold a 2.53% stake for Rs 2,751 crore in a block deal on the NSE. According to the NSE block deal data, Shirin Hamied, wife of MK Hamied, vice-chair and non-executive director on the Cipla board and her daughters Rumana Hamied, Samina Hamied, and Okasa Pharma Private Ltd, all categorized as promoter group, had then sold 2.04 crore shares at Rs 1,345 apiece.The company in a stock exchange release said the stake sale was intended at raising funds for specific needs, including philanthropy.The Drug had posted 15% growth in its consolidated net profit to Rs 1,303 crore for the quarter ended September 2024, compared with Rs 1,131 crore in the year- ago period. The profit was above the ET Now poll estimates of Rs 1,218 crore.Revenue from operations rose 6% year-on-year to Rs 7,051 crore in the July-September 2024 period as against Rs 6,678 crore in the last year period.The company reported an EBITDA growth of 12% year-on-year to Rs 1,886 crore in the second quarter.Cipla shares have rallied 27% over the last one year which is an outperformance over NIfty in the same period. The index has delivered returns of 21% in the same period.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Singapore: Indian Grandmaster D Gukesh and defending champion Ding Liren played out a draw in the fourth round to remain level on points in the World Chess Championship battle here on Friday. The two players signed peace after 42 moves and are tied on 2 points each after four games of the 14-round showdown. The 18-year-old Gukesh is the youngest ever challenger for the crown and had won the third game on Wednesday. The 32-year-old Liren had won the opening game before the two played out a draw in the second game.