Mon Feb 10 13:19:14 UTC 2025: ## India’s Economic News Roundup: IPO Success, Budget Debate, and Market Volatility

**Mumbai, India** – India’s financial landscape is buzzing with activity, marked by a successful IPO, ongoing budget debates in Parliament, and fluctuating cryptocurrency markets.

**Ajax Engineering IPO Oversubscribed:** The Ajax Engineering IPO, valued at ₹1,269.35 crore, concluded its subscription period today, having been oversubscribed 18 times. Allotment is scheduled for February 13th. The company’s valuation at the upper end of the IPO price band is 29 times its estimated FY25 earnings.

**Budget 2025 Sparks Debate:** The Lok Sabha is currently debating the new Income Tax Bill, with discussions focusing on its impact on different income brackets. Congress MP Manish Tewari criticized the budget, arguing it contradicts the principle of “innocent until proven guilty.” The new tax regime offers benefits for those earning up to ₹12 lakh, while those earning above ₹20 lakh are expected to see tax reductions even after considering investments. The budget also revised TDS rules for lottery and horse racing winnings, applying TDS to each transaction exceeding ₹10,000.

**Rupee Fluctuation and Market Trends:** The Indian Rupee closed at 87.48 per US dollar, a slight increase from Friday’s close. The cryptocurrency market saw significant gains and losses, with details available on specialized market trackers. Investors are watching IT and banking sectors closely.

**Other News:** Finance Minister Nirmala Sitharaman is expected to address the Lok Sabha tomorrow. Traders Gurukul’s “BOTS” options trading summit continues to provide insights into the market. A new functionality is being developed to improve user experience and create new revenue streams for brokers.

This news summary provides a snapshot of the day’s key developments in Indian finance and economics. Further details can be found on specialized financial news websites.

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