Asian stocks are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.99% while the Hang Seng is down 0.84%. The Shanghai Composite is trading down by 0.32%. Overnight, the US markets closed lower as market participants positioned to US Federal Reserve policy.

Back home, India share markets opened the day on a flat note with a negative bias. The BSE Sensex is trading lower by 31 points while the NSE Nifty is trading lower by 23 points. The BSE Mid Cap index and BSE Small Cap index both opened the day down by 0.6%.

Barring information technology stocks, all sectoral indices have opened the day on a negative note with metal stocksand realty stocks witnessing maximum selling pressure. The rupee is trading at 64.04 to the US$.

In the news from the IPO space. The initial public offer (IPO) of Bandhan Bank has been oversubscribed 14.6 times so far on the final day of bidding Monday.

The Rs 44.73-billion IPO has received bids for 1218.1 million equity shares against the total offer size of 83.5 million shares.

The IPO also consists of an offer for sale of up to 140.5 equity shares by IFC and up to 7.6 million equity shares by IFC FIG. The bank is aimed to raise Rs 44.13 billion – Rs 44.73 billion at a price of Rs 370-375 per share, respectively.

Meanwhile, state-owned Hindustan Aeronautics’ initial public offer was subscribed 45% on the second day of bidding on Monday.

The IPO, through which the Bengaluru-based firm aims to raise Rs 42.3 billion, received bids for 15.4 shares against the total issue size of 34.1 million shares.

The IPO is of 34.1 million shares and is scheduled to close today. The price band for the issue has been fixed at Rs 1215-1240. SBI Capital Markets and Axis Capital are managing the issue.

To know our view on the above IPOs, you can read our IPO note here.

Speaking of IPOs, the demand for IPO’s has reached sky-high levels. Avenue Supermarts was seen as the first company last year to cross the 100-time subscription mark swiftly followed by CDSL and Dixon technologies, among others.

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