Gold bond issue price fixed at Rs 4,777/gm

Mumbai

The issue price for Sovereign Gold Bond Scheme 2021-22, which will open for subscription from May 17, has been fixed at Rs 4,777 per gram, the RBI said on Friday. The government has decided to issue the bonds in six tranches from May 2021 to September 2021. The government will offer a discount of Rs 50 per gram to investors applying online and the payment against the application is made through digital mode. PTI

New Delhi

PowerGrid Corp raises Rs 2,736 cr via InvIT OFS

Power Grid Corporation of India Ltd (PGCIL) on Friday said it has received Rs 2,736.02 crore through sale of 27.41 crore units in the PowerGrid Infrastructure Investment Trust (PGInvIT) offer for sale. Earlier in the day, the units issued by PGInvIT were listed on NSE and BSE. PGCIL has created the PGInvIT to monetise its assets. PTI

Mumbai

Forex reserves up by $1.444 bn to $589 bn

The country’s foreign exchange reserves increased by $1.444 billion to $589.465 billion in the week ended May 7, 2021, RBI data showed. In the previous week ended April 30, 2021, the reserves had risen by $3.913 billion to $588.02 billion. PTI

London

Probe launched against Gupta-led GFG Alliance

The UK’s Serious Fraud Office said on Friday it was investigating suspected fraudulent trading and money laundering related to companies within the Gupta Family Group Alliance (GFG), led by British-Indian businessman Sanjeev Gupta. PTI