While Emami did not disclose the deal size, industry estimates peg it at around Rs 25-30 crore. Emami will pick up the stake in two tranches. On Thursday, it completed the first tranche of acquiring 20.45 per cent, while the balance will be done by next one year. Hallmarking of 14 karat, 18 karat and 22 karat jewellery is expected to become mandatory in the country from January 2018.The initial public offering (IPO) by Future Supply Chain Solutions got subscribed 0.72 times by the end of the second day of the bidding process. Till 5 pm, the issue received bids for 50,41,014 shares against 68,49,200 shares offered by the company, NSE data showed

Source: Economic Times December 08, 2017 02:41 UTC