There were neither any shocks nor pleasant surprises in the interim Budget, with no myopic measures being announced. The government did not bow down to the populist measures in the election year and kept the tax regime unchanged but ensured fiscal prudence. The fiscal deficit is set at 5.1%, significantly lower than expected.
Muthoot Pappachan Group-backed Muthoot Microfin s IPO had opened for subscription on December 18. The NBFC provides micro-loans to women customers with a focus on rural regions of India
Muthoot Microfin s IPO received decent intreset from investors with the issue being subscribed 11.52 times. QIBs led from the front, as they bid 17.47 times their allotted quota.