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The Gujarat-based firm is into recycling of waste tyres. A total of 7,038,400 shares were offered in the IPO of which 5,990,000 shares were fresh issue.
The Nifty50 has decisively broken its crucial support of around 19,850-19,900 levels and closed at 19,674 for the last week. The next critical support is likely to be 19,500-19,400 area
The real action will be seen in the SME segment as 12 IPOs worth Rs 431-crore are ready to be launched next week, with five of them opening on September 25.