Indian share markets continue to trade flat with a positive bias during the morning trade. Gains are largely seen in stocks from healthcare sector and PSU sector. Meanwhile, metal stocks and FMCG stocks are trading in the red.

The BSE Sensex is trading higher by 46 points and the NSE Nifty is trading higher by 6 points. The BSE Mid Cap index and the BSE Small Cap index are trading up by 1% & 0.8% respectively. The rupee is trading at 64.77 to the US$.

In the news from IPO space, Khadim India has hit the primary markets with its Rs 5.4-billion initial public offering for subscription with a price band of Rs 745-750 per share.

The IPO comprises of fresh issue of aggregating up to Rs 0.5 billion and an offer for sale of up to 6.6 million equity shares. Khadim India has allocated shares worth Rs 1.6 billion to 13 anchor investors at the upper end of the Rs 745 – 750 price band set for the IPO.

The offer for sale comprises of up to 0.7 million shares by promoter Siddhartha Roy Burman and 5.9 million shares by Fairwinds Trustees Services Private Limited.

Meanwhile, IPO of New India Assurance Company was oversubscribed 1.03 times so far on the first day of the three-day bidding on Wednesday.

The IPO, which aims to raise Rs 96 billion, received bids for 123.1 million shares against the total issue size of 120 million shares.

Further, IPO of Mahindra Logistics was subscribed 1.32 times on the second day of offer on Wednesday. The IPO, which aims to raise Rs 8.3 billion, received bids for 18 million shares against the total issue size of 13.6 million shares.

Moving on to the news from pharma sector. Five Indian generic drugmakers have been reportedly named in a lawsuit by 45 US states over price-fixing conspiracy, adding to their existing woes like regulator inspections and pricing pressures in their largest market.

The five companies which are charged mainly for keeping prices of the generic drugs exceptionally high include — Dr Reddy’s Laboratories, Sun Pharmaceuticals, Emcure Pharmaceuticals, Zydus Cadila Pharmaceuticals and Glenmark Pharmaceuticals, the reports noted.