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A magnitude 5.2 earthquake struck off the Greek island of Euboea early Tuesday and was strongly felt in Athens, authorities said.The quake hit at 00:30 local time (2130 GMT) offshore 45 kilometres (28 miles) northeast of the Greek capital, said the Institute of Geodynamics at the National Observatory of Athens.The epicentre was four kilometres off the seaside resort of Nea Styra in the southwest of Euboea, Greece's second-biggest island, the institute said.There were no immediate reports of casualties or damage.The mayor of the nearby city of Marathon, Stergios Tsirkas, described the quake as "very intense", in comments on ERT television.In May, a strong earthquake of magnitude 6.1 struck off the Greek island of Crete and was felt as far as Egypt as well as in the Greek capital.In January and February, the island of Santorini in the Aegean Sea, a major Greek tourist destination, suffered exceptional seismic activity.Thousands of tremors there caused several thousand residents to flee, but they have since returned home.Situated on several faults in the southeastern Mediterranean, Greece is regularly hit by earthquakes.The last deadly quake there struck in October 2020 on the island of Samos, in the Aegean Sea.With a magnitude of seven, it killed two people in Samos and over 100 in the Turkish port city of Izmir.

Karbonsteel Engineering launched its Rs 59 crore IPO on Tuesday with the issue receiving early attention in the unlisted market. The shares are quoting a GMP of around 12% over the upper price band of Rs 159. The three-day book-building issue will close on September 11, and listing is scheduled for September 16 on the BSE SME platform. Ahead of the issue opening, the company raised Rs 17 crore from anchor investors, who subscribed to 10.6 lakh shares.IPO structure and price bandThe IPO comprises a fresh issue of 30 lakh shares aggregating to Rs 48.33 crore and an offer-for-sale (OFS) of 6.9 lakh shares worth Rs 10.97 crore, taking the total issue size to 37.29 lakh shares. The price band has been fixed between Rs 151 and Rs 159 per share.Investors can bid for a minimum lot of 1,600 shares, requiring an outlay of Rs 2.54 lakh at the upper end of the price band. For high-net-worth individuals, the minimum application size is three lots or 2,400 shares, amounting to Rs 3.81 lakh.Company profileKarbonsteel Engineering is engaged in designing, manufacturing, and supplying heavy and precision fabricated steel structures. The company caters to industries such as steel, railways, oil and gas, refineries, and infrastructure projects.Its offerings include heavy steel structures, pre-engineered buildings (PEBs), precision components, and bridge structures.Karbonsteel operates two manufacturing facilities in Gujarat and Maharashtra with a combined installed capacity of 32,400 metric tonnes annually.Financial performanceThe company has reported consistent growth in revenue and profitability. For FY25, it posted revenue of Rs 273.91 crore, up 25% from Rs 218.77 crore in FY24. Profit after tax jumped 50% year-on-year to Rs 14.16 crore, compared with Rs 9.42 crore in the previous fiscal.Objects of the issueThe company plans to utilise Rs 12.29 crore from the net proceeds for expansion of its Umbergaon facility, Rs 3.08 crore for repayment of borrowings, and Rs 25.25 crore towards working capital requirements. The rest will go towards general corporate purposes.With a GMP of about Rs 19 over the issue price, the stock is expected to list around Rs 178, indicating moderate listing gains if the sentiment sustains.Seren Capital is the book-running lead manager, and Maashitla Securities is the registrar to the issue. Rikhav Securities and SS Corporate Securities are acting as market makers.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)