Cox and Kings public issue subscribed 6.31 times

Cox and Kings (India) IPO was subscribed 6.31 times on the final day of offer on Friday.

The issue received bids for 9.9 crore shares against the 1.8 crore shares on offer. The price band for the issue was fixed at Rs 316-330. The company aims to raise up to Rs 610 crore through the IPO.

The portion reserved for the qualified institutional buyers was subscribed 9.9 times and the non-institutional portion was subscribe 10.6 times.

The retail portion was subscribed 0.9 times.

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Mobile number portability from 31 December

India will introduce mobile number portability (MNP) on 31 December, a move that could further intensify the stiff competition in the world’s fastest growing wireless market and push call chargeslower.MNP, which allows users to retain their number even if they switch operators, will be introduced in two phases, the country’s telecom regulator said, first in the metro cities and the so-called category A telecom zones, and in other areas by 20 March.

The regulator also notified certain charges associated with MNP and said switching charges for users must not exceed Rs19.Four new firms, including ventures of international telecom operators Telenor Group, Etisalat and Batelco, are set to start services in India this year and MNP would make it easy for them to attract existing users of such services.

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