India's FX reserves climbed to a record high of $785.7 billion in the week to September 4, central bank data showed on Friday, lifted by a wave of inflows under policy measures to strengthen the country's balance of payments.

India's FX pile has risen for ten straight weeks, jumping by almost $120 billion during this period, with the latest data showing a nearly $45 billion week-on-week rise.

In June, India unveiled a raft of measures to boost dollar inflows that included discounted hedging facilities for overseas borrowings by state-run firms and banks as well as a free-of-cost hedging facility for banks to raise overseas FX deposits.

The Reserve Bank of India received $136.3 billion billion under these schemes between June 5 and August 31, led by a much higher-than-anticipated $127 billion haul from non-resident Indian deposits.

The scale of inflows prompted the central bank to shorten the window for its deposit hedging facility for overseas deposits by a month to August-end.

For the week ended September 4, the rise in reserves was led by a $47.4 billion gain in the central bank's foreign currency assets, while the value of its gold holdings dipped by about $2.6 billion to $113.8 billion.

The RBI's frequent interventions in the foreign exchange market to support the rupee have likely offset the impact of some of the overseas dollar inflows, bankers said.

The stock started trading at Rs 162 on the BSE, registering a jump of 30.64 percent from the issue price. At the NSE, the stock listed at Rs 165, a premium of 33 percent.

The company's market valuation stood at Rs 1,493.38 crore at the time of listing on the BSE. It declined to Rs 1,459.59 crore after the stock hit the lower circuit, a fall of Rs 33.79 crore.

Pranav Constructions' Rs 351-crore IPO was subscribed 121 times on the final day of bidding on Wednesday last week.

The company's IPO was open for subscription from September 7-9 with a price band of Rs 118-124 per equity share.

Pranav Constructions had raised Rs 84.24 crore from anchor investors.

The company is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai's western suburbs.