Badla rates at high of 32 per cent
Mumbai: Initial public offerings of software firms have firmed up badla rates on the Bombay Stock Exchange, which flared up to an average 32 per cent on 1 October from 27-29 per cent during the previous week. At one point, the rates were as high as 39 per cent. They settled down at 33-34 per cent towards the close of the session.

The spurt in badla rates has been attributed to huge flow of funds into the market through the IPOs of sofware companies, Hughes Software, Kale Consultants, and Compucon. Dealers said Rs 2,000 crore of funds have been pumped into the primary markets.

The outstanding position on the Bombay Stock Exchange was put at Rs 2,700 crore.
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