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BIZ EOD: IRCTC IPO opens, Maruti Suzuki S-Presso launched, Forever 21 bankrupt and more

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BIZ EOD: IRCTC IPO opens, Maruti Suzuki S-Presso launched, Forever 21 bankrupt and more
Top stories from the world of business and economy

Indian Railway Catering and Tourism Corporation (IRCTC), a subsidiary of the Indian Railways, receives a strong response to its IPO. Maruti Suzuki launches a new offering in the entry-level hatchback segment in India, the S-Presso. Fashion retailer Forever 21 says that it has filed for bankruptcy protection, joining a growing list of brick and mortar retailers succumbing to heavy competition from e-commerce sites. Read for more top stories from the world of business and economy:

1. IRCTC IPO subscribed 81% on day one, brokerages bullish on Rs 645-crore issue

The IRCTC IPO received bids for 1,63,94,040 shares compared to 2,01,60,000 or 2.01 crore equity shares on offer by the firm, data from the NSE show.

2. Anil Ambani to continue clearing dues, next debt repayment to be worth $2.1 billion

Reliance Capital has decided to shut its two lending arms - Reliance Commercial Finance and Reliance Home Finance -- by December. Both the credit verticals have a cumulative asset of over Rs 25,000 crore.

3. Future uncertain for Forever 21 in India as company files for bankruptcy

Forever 21 files for bankruptcy: The company had said last week that it would exit Japan and close all of the 14 stores at the end of October.

4. RBI supersedes board of PMC Bank, appoints Jai Bhagwan Bhoria as new administrator

The RBI has appointed Jai Bhagwan Bhoria as the administrator of the PMC Bank with all the powers of the board.

5. 'Innovation, aspiration, application of tech to make India $5 trillion economy,' says PM Modi at IIT Madras

PM Modi at IIT Madras: He said that no matter where they work or live, they should also keep in mind the needs of the motherland.

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