eClerx Services, provides data analytics and customised process solutions to global enterprise clients, ended the day with 42.35% premium at Rs 448.40 as against its issue price of Rs 315 on the NSE. The stock has touched a high/low of Rs 467.50 and Rs 340, respectively.
It traded with volumes of 93,16,883 shares and the turnover was at Rs 392 crore.
In an interview with CNBC-TV18, PG Mundra, Executive Director of eClerx Services said they are looking at US and Europe for acquisitions, and the deal size is between USD 5-15 million. eClerx will close the acquisition in the next financial year.
The stock debuted at Rs 320 and touched an intraday high/low of Rs 466.80 and Rs 320, respectively on the BSE. It closed at Rs 448.30, with volumes of 65,38,130 shares.
It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.
The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits.
The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.
Source: Moneycontrol.com
Monday, December 31, 2007
CRISIL assigns grade 4/5 to Reliance Power IPO
CRISIL has come out with research report on Reliance Power IPO. The firm has assigned a CRISIL IPO Grade '4/5' to the proposed initial public offer of Reliance Power (RPower), in a report dated December 31, 2007.
The company proposed public issue of 260 million equity shares of face value Rs 10 targeted at an issue size in the range of INR 105 to 115 billion.
CRISIL research report on Reliance Power IPO
CRISIL has assigned a CRISIL IPO Grade '4/5' to the proposed initial public offer of Reliance Power (RPower). This grade indicates that the fundamentals of the issue are above average, in relation to other listed equity securities in India.
The grading assigned reflects CRISIL's view that strong demand for power in India will catalyse regulatory facilitation for private participation in the power sector over the medium to long term. In this scenario, early movers like RPower will benefit from attractive business opportunities that are likely to come about as a result, especially if they achieve high levels of financial capability, as is likely for RPower after its proposed IPO.
The grading also reflects the Reliance Anil Dhirubhai Ambani Group's commitment that RPower will be the sole repository of the Group's economic interest in the power generation segment. The grading is tempered by the fact that RPower is planning to put up capacity, on a scale and within a time frame, never achieved in India before and therefore it is likely to face significant implementation challenges.
The grading also reflects the fact that power generators in India will have to depend on SEBs for off take over the short-to-medium term and that their return will be subject to the regulatory oversight in case of Two-part tariff based Projects such as Rosa I (600 MW) and Rosa II (300 MW). Also, returns on the projects won through the competitive bidding route may not be substantially higher due to competition.
About the company
Reliance Power is a part of the Reliance ADA Group and has been established with the objective to develop, construct and operate power projects both domestically and internationally.
RPower does not have any power plant in operation as of now. The company proposes to install 28,200 Mega watt (MW) generation capacity over the next 8 years. Of the total proposed capacity, six projects totalling 7060-MW (Butibori, Shahapur coal, Sasan, Rosa-I &II and Urthing Sobla) are in various stages of implementation. Commercial operations of the first unit of proposed project, Rosa-I (2*300 MW), is expected by December 2009. All the six identified projects would be executed through wholly-owned subsidiaries of RPower, except Urthing Sobla and Butibori, where RPower would hold 80 percent stake and 74 percent stake, respectively.
Besides, the aforementioned identified projects which are in advanced stages of implementation, RPower also proposes to set up seven more generation projects, which are in developmental stage. These include the gas-fired Dadri (7,480 MW) and Shahapur gas project (2,800 MW); the coal-fired MP Power project (3,960 MW) and Krishnapatnam (4,000 MW); three run-of-the-river hydroelectric projects, Siyom (1,000 MW), Tato II (700 MW) and Kalai II (1,200 MW).
Source: Moneycontrol.com
The company proposed public issue of 260 million equity shares of face value Rs 10 targeted at an issue size in the range of INR 105 to 115 billion.
CRISIL research report on Reliance Power IPO
CRISIL has assigned a CRISIL IPO Grade '4/5' to the proposed initial public offer of Reliance Power (RPower). This grade indicates that the fundamentals of the issue are above average, in relation to other listed equity securities in India.
The grading assigned reflects CRISIL's view that strong demand for power in India will catalyse regulatory facilitation for private participation in the power sector over the medium to long term. In this scenario, early movers like RPower will benefit from attractive business opportunities that are likely to come about as a result, especially if they achieve high levels of financial capability, as is likely for RPower after its proposed IPO.
The grading also reflects the Reliance Anil Dhirubhai Ambani Group's commitment that RPower will be the sole repository of the Group's economic interest in the power generation segment. The grading is tempered by the fact that RPower is planning to put up capacity, on a scale and within a time frame, never achieved in India before and therefore it is likely to face significant implementation challenges.
The grading also reflects the fact that power generators in India will have to depend on SEBs for off take over the short-to-medium term and that their return will be subject to the regulatory oversight in case of Two-part tariff based Projects such as Rosa I (600 MW) and Rosa II (300 MW). Also, returns on the projects won through the competitive bidding route may not be substantially higher due to competition.
About the company
Reliance Power is a part of the Reliance ADA Group and has been established with the objective to develop, construct and operate power projects both domestically and internationally.
RPower does not have any power plant in operation as of now. The company proposes to install 28,200 Mega watt (MW) generation capacity over the next 8 years. Of the total proposed capacity, six projects totalling 7060-MW (Butibori, Shahapur coal, Sasan, Rosa-I &II and Urthing Sobla) are in various stages of implementation. Commercial operations of the first unit of proposed project, Rosa-I (2*300 MW), is expected by December 2009. All the six identified projects would be executed through wholly-owned subsidiaries of RPower, except Urthing Sobla and Butibori, where RPower would hold 80 percent stake and 74 percent stake, respectively.
Besides, the aforementioned identified projects which are in advanced stages of implementation, RPower also proposes to set up seven more generation projects, which are in developmental stage. These include the gas-fired Dadri (7,480 MW) and Shahapur gas project (2,800 MW); the coal-fired MP Power project (3,960 MW) and Krishnapatnam (4,000 MW); three run-of-the-river hydroelectric projects, Siyom (1,000 MW), Tato II (700 MW) and Kalai II (1,200 MW).
Source: Moneycontrol.com
Sunday, December 30, 2007
Grey Market Premium Rates : 12/29/2007
Grey Market Premium Rates : Last Date : 29 / 12 / 2007
Company - Open/Close - Offer Price - Premium - Kostak Rates
Reliance Power - (-------) - 450 to 480 - (Expected) 260 to 270 -------
Precision Pipes - 17 Dec to 20 Dec - 140 to 150 - 22 to 25 -------
Porwal Auto - 17 Dec to 20 Dec - 68 to 75 - Discount -------
Manaksia Ltd - 17 Dec to 19 Dec - 140 to 160 - 12 to 15 -------
Aries Agro - 14 Dec to 19 Dec - 120 to 130 - 18 to 20 -------
Brigade Enterprise - 10 Dec to 13 Dec - 351 to 390 - 8 to 10 -------
Eclerx Services - 04 Dec to 07 Dec - 270 to 315 - 35 to 38 -------
BGR Energy - 05 Dec to 12 Dec - 425 to 480 - 380 to 390 -------
Burnpur Cement - 28 Nov to 03 Dec - 12 5 to 6 -------
Company - Open/Close - Offer Price - Premium - Kostak Rates
Reliance Power - (-------) - 450 to 480 - (Expected) 260 to 270 -------
Precision Pipes - 17 Dec to 20 Dec - 140 to 150 - 22 to 25 -------
Porwal Auto - 17 Dec to 20 Dec - 68 to 75 - Discount -------
Manaksia Ltd - 17 Dec to 19 Dec - 140 to 160 - 12 to 15 -------
Aries Agro - 14 Dec to 19 Dec - 120 to 130 - 18 to 20 -------
Brigade Enterprise - 10 Dec to 13 Dec - 351 to 390 - 8 to 10 -------
Eclerx Services - 04 Dec to 07 Dec - 270 to 315 - 35 to 38 -------
BGR Energy - 05 Dec to 12 Dec - 425 to 480 - 380 to 390 -------
Burnpur Cement - 28 Nov to 03 Dec - 12 5 to 6 -------
SEBI approves Reliance Power's IPO
Anil Ambani group on Friday got the regulatory go-ahead from SEBI for the public issue of Reliance Power Ltd, the group's first IPO and estimated to raise about $3 billion, the highest ever proceeds in India.
Securities and Exchange Board of India has issued its observations on the draft prospectus of RPL, while clearing the way for IPO, sources close to the development said.
The public offer by the ADAG firm Reliance Energy's subsidiary is expected to be launched early next year and could raise over three billion dollars, eclipsing the public issue of realty giant DLF, which had raised more than two billion dollars and is the biggest ever IPO so far.
The go-ahead comes a day after SEBI disposed off a complaint against the IPO, while saying that "the entire promoter quota, that is, 20 per cent of the capital in RPL shall be locked in for a period of five years from the date of allotment in the proposed IPO."
SEBI on Thursday put a rider of five-year lock-in period on promoters' equity while disposing off a complaint against the proposed initial public offer of Anil Ambani group company Reliance Power Ltd.
Listing out the eligibility criteria for computation of promoters' contribution, SEBI said: "The entire promoter quota, that is, 20 per cent of the capital in RPL shall be locked in for a period of five years from the date of allotment in the proposed IPO."
A two-member bench comprising members T C Nair and V K Chopra, accordingly disposed off the case that it was hearing following an order by Mumbai High Court on a PIL.
When contacted, an ADAG spokesperson declined to comment. While SEBI wanted full disclosure by promoters and the lead managers as per the various statutes and guidelines to protect the interest of investors, it did not take up the issue of 'short charging of shareholders' due to transfer of projects from ADAG group company Reliance Energy Ltd to RPL.
The company is estimated to raise up to three billion dollars through the proposed public offer.
Securities and Exchange Board of India has issued its observations on the draft prospectus of RPL, while clearing the way for IPO, sources close to the development said.
The public offer by the ADAG firm Reliance Energy's subsidiary is expected to be launched early next year and could raise over three billion dollars, eclipsing the public issue of realty giant DLF, which had raised more than two billion dollars and is the biggest ever IPO so far.
The go-ahead comes a day after SEBI disposed off a complaint against the IPO, while saying that "the entire promoter quota, that is, 20 per cent of the capital in RPL shall be locked in for a period of five years from the date of allotment in the proposed IPO."
SEBI on Thursday put a rider of five-year lock-in period on promoters' equity while disposing off a complaint against the proposed initial public offer of Anil Ambani group company Reliance Power Ltd.
Listing out the eligibility criteria for computation of promoters' contribution, SEBI said: "The entire promoter quota, that is, 20 per cent of the capital in RPL shall be locked in for a period of five years from the date of allotment in the proposed IPO."
A two-member bench comprising members T C Nair and V K Chopra, accordingly disposed off the case that it was hearing following an order by Mumbai High Court on a PIL.
When contacted, an ADAG spokesperson declined to comment. While SEBI wanted full disclosure by promoters and the lead managers as per the various statutes and guidelines to protect the interest of investors, it did not take up the issue of 'short charging of shareholders' due to transfer of projects from ADAG group company Reliance Energy Ltd to RPL.
The company is estimated to raise up to three billion dollars through the proposed public offer.
eClerx Services to list on Dec 31
eClerx Services, provides data analytics and customised process solutions to global enterprise clients, will list on the bourses with its IPO shares on December 31, 2007. The issue price has been fixed at Rs 315 per share.
It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.
The QIBs reserved portion subscribed 36 times, non institutional investors 41 times and retail investors - 13 times.
The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits.
The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.
The book running lead managers to the issue are JM Financial Consultants Private Limited and Edelweiss Capital Limited.
Source: Moneycontrol.com
It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.
The QIBs reserved portion subscribed 36 times, non institutional investors 41 times and retail investors - 13 times.
The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits.
The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.
The book running lead managers to the issue are JM Financial Consultants Private Limited and Edelweiss Capital Limited.
Source: Moneycontrol.com
Trans & Rect ends with 56% premium
It was a fanastic listing for Transformers and Rectifiers (India), one of the major players in the Indian market manufacturing a wide range of transformers. It has ended the day at Rs 726.10, up 56.15% over its offer price of Rs 465. It has touched a high/low of Rs 790 (opening price) and Rs 682.30, respectively on the NSE. The stock slipped below Rs 700 mark due to negative sentiment across the markets but managed to recover and remained above Rs 700 through the day.
It traded with volumes of 37,21,559 shares and turnover was at Rs 271 crore.
Jitendra Mamtora, CMD, Transformers and Rectifiers told CNBC-TV18, the business is setting up a Greenfield plant for Transformers. They will start production in the new plant by June 2008.
He expects FY09 sales at Rs 400 crore and profit at Rs 40 crore to be a reasonable estimate. Current order book is at Rs 355 crore, to be executed over 7-8 months.
The stock closed at Rs 728 on the BSE and traded with volumes of 26,62,545 shares. It has hit an intraday high/low of Rs 813.75 and Rs 685.20, respectively.
The company had entered capital market with an initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share. The issue was over-subscribed 91.31 times.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Source: Moneycontrol.com
It traded with volumes of 37,21,559 shares and turnover was at Rs 271 crore.
Jitendra Mamtora, CMD, Transformers and Rectifiers told CNBC-TV18, the business is setting up a Greenfield plant for Transformers. They will start production in the new plant by June 2008.
He expects FY09 sales at Rs 400 crore and profit at Rs 40 crore to be a reasonable estimate. Current order book is at Rs 355 crore, to be executed over 7-8 months.
The stock closed at Rs 728 on the BSE and traded with volumes of 26,62,545 shares. It has hit an intraday high/low of Rs 813.75 and Rs 685.20, respectively.
The company had entered capital market with an initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share. The issue was over-subscribed 91.31 times.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Source: Moneycontrol.com
Thursday, December 27, 2007
Transformers & Rectifiers likely to list above Rs 700
After receiving excellent response to its initial public offering, Transformers and Rectifiers (India), one of the major players in the Indian market manufacturing a wide range of transformers ranging from power generation, transmission, distribution transformers, industrial transformers and a wide range of speciality transformers, will list on the bourses on December 28.
Experts told Moneycontrol.com that the stock is expected to list around Rs 700-750 and advised to hold for long term, if one has capacity.
According to R S Iyer of K R Choksey Securities, "Transformers is expected to list around Rs 600-700. The industry is doing well and will do well in future as well, so one, who has capacity, can hold for long term."
Manish Bhatt of Prabhudas Lilladher said, "Transformers may list with premium of Rs 300-350 over its offer price of Rs 465 per share. One should hold the stock with medium to long term view."
"The company is presently manufacturing transformers upto 220 kV class with an installed capacity of 7,200 MVA, through its two manufacturing facilities located near Ahmedabad. Now the company is setting up a new plant of 220 kV and 400 kV class with a capacity of 16,000 MVA per annum with an estimated expenditure of Rs 67 crore. The company is expected to list at a premium. In case of aggressive listing partial profits can be booked. Investors can also be invested in the company with a long term view", Arpit Agrawal Head of Research, Arihant capital markets said.
"Transformers and Rectifiers is likely to list at Rs 760 as against its issue price of Rs 465. Profit booking is advised at these levels", Investment Advisor, S P Tulsian said.
The issue price has been fixed at Rs 465 per equity share (at the upper end of the price band) for its initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share. The issue was over-subscribed 91.31 times.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Enam Securities Private Limited is the sole book running lead manager to the issue.
Source: Moneycontrol.com
Experts told Moneycontrol.com that the stock is expected to list around Rs 700-750 and advised to hold for long term, if one has capacity.
According to R S Iyer of K R Choksey Securities, "Transformers is expected to list around Rs 600-700. The industry is doing well and will do well in future as well, so one, who has capacity, can hold for long term."
Manish Bhatt of Prabhudas Lilladher said, "Transformers may list with premium of Rs 300-350 over its offer price of Rs 465 per share. One should hold the stock with medium to long term view."
"The company is presently manufacturing transformers upto 220 kV class with an installed capacity of 7,200 MVA, through its two manufacturing facilities located near Ahmedabad. Now the company is setting up a new plant of 220 kV and 400 kV class with a capacity of 16,000 MVA per annum with an estimated expenditure of Rs 67 crore. The company is expected to list at a premium. In case of aggressive listing partial profits can be booked. Investors can also be invested in the company with a long term view", Arpit Agrawal Head of Research, Arihant capital markets said.
"Transformers and Rectifiers is likely to list at Rs 760 as against its issue price of Rs 465. Profit booking is advised at these levels", Investment Advisor, S P Tulsian said.
The issue price has been fixed at Rs 465 per equity share (at the upper end of the price band) for its initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share. The issue was over-subscribed 91.31 times.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Enam Securities Private Limited is the sole book running lead manager to the issue.
Source: Moneycontrol.com
Future Capital IPO gets clearance from SEBI
The initial public offering of Kishore Biyani's Future Capital Holdings has got clearance from SEBI, according to CNBC-TV18 quoting sources. The company is looking to raise Rs 400 crore through IPO.
Future Capital Holdings is offering 64.2 lakh shares via IPO and diluting 10.16% of equity. Promoters holding will reduced to 74% from current 83%.
Currently the listed Pantaloon holds 61%, which will come down to 55% post IPO. Kishore Biyani's stake will come down from 6.6% to 6% post IPO.
O(x)us Investments holds 8.6% in Future Capital. It has picked up stake in June 2007 at Rs 178 per share.
RHP is likely to be filled in the next 7-10 days.
Source: Moneycontrol.com
Future Capital Holdings is offering 64.2 lakh shares via IPO and diluting 10.16% of equity. Promoters holding will reduced to 74% from current 83%.
Currently the listed Pantaloon holds 61%, which will come down to 55% post IPO. Kishore Biyani's stake will come down from 6.6% to 6% post IPO.
O(x)us Investments holds 8.6% in Future Capital. It has picked up stake in June 2007 at Rs 178 per share.
RHP is likely to be filled in the next 7-10 days.
Source: Moneycontrol.com
Transformers and Rectifiers to list on Dec 28
After receiving excellent response to its initial public offering, Transformers and Rectifiers (India), one of the major players in the Indian market manufacturing a wide range of transformers ranging from power generation, transmission, distribution transformers, industrial transformers and a wide range of speciality transformers, will list on the bourses on December 28.
The issue price has been fixed at Rs 465 per equity share (at the upper end of the price band) for its initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share.
The issue was over-subscribed 91.31 times. The qualified institutional bidders (QIBs) portion was over-subscribed by approximately around 111 times; the non institutional bidders portion was over-subscribed by approximately 122 times; the retail bidder portion was oversubscribed by approximately around 58 times. The issue got bids for 27.35 crore shares as against 29.95 lakh shares on offer.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Enam Securities Private Limited is the sole book running lead manager to the issue.
Source: Moneycontrol.com
The issue price has been fixed at Rs 465 per equity share (at the upper end of the price band) for its initial public offering (IPO) of 29,95,000 equity shares of Rs 10 each for cash, at a premium of Rs 455 per equity share. The price band was between Rs 425 to Rs 465 per equity share.
The issue was over-subscribed 91.31 times. The qualified institutional bidders (QIBs) portion was over-subscribed by approximately around 111 times; the non institutional bidders portion was over-subscribed by approximately 122 times; the retail bidder portion was oversubscribed by approximately around 58 times. The issue got bids for 27.35 crore shares as against 29.95 lakh shares on offer.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The objects of the proposed Issue are to finance the setting up of the proposed greenfield manufacturing facility at Moraiya, near Ahmedabad, Gujarat, for manufacturing transformers, to part-finance incremental working capital requirements.
Enam Securities Private Limited is the sole book running lead manager to the issue.
Source: Moneycontrol.com
Indian IPO market ranks 7th in global mop-up
The USD 8.3-billion raised on Indian bourses through 95 initial public offerings (IPOs) in 2007 was the fifth-largest in terms of number of issues and the seventh-largest in terms of the proceeds for the year globally, according to Ernst and Young data.
China led with total IPO proceeds of USD 54.4 billion raised through 222 issues, according to data compiled till November by the consultancy firm. The cumulative value of IPOs on Indian bourses in 2007, however, was just marginally higher than the single largest IPO of the year by Russia’s VTB Bank, which raised USD 8 billion in May.
Globally, IPOs raised a record capital of USD 255 billion till November in 2007, according to the data. There were as many as 1,739 IPOs during January to November 2007, while another 91 public issues are estimated to have hit the capital markets during December.
In India, the largest IPO during the year was by realty giant DLF, which raised about Rs 9,187.50 crore (over USD 2 billion). E&Y said the strength of the Indian economy, stock market, corporate profits and private equity fuelled IPOs in 2007. During 2006, the Indian market had seen 78 IPOs raising $7.23 billion.
BRIC countries
The study noted that 14 of the top 20 IPOs were from emerging BRIC countries (Brazil, Russia, India and China), which raised USD 106.5 billion in 382 deals so far this year compared to USD 89.6 billion raised in 302 deals in the same period of 2006.
According to the data, Asia-Pacific accounted for 46 per cent of the worldwide IPO issues, ahead of Europe, West Asia, and Africa (EMEA), which together accounted for 35 per cent and North America 14 per cent.
Despite accounting for only 4 per cent of the total number of IPOs till November, the Hong Kong Stock Exchange (HKSE) was the leading exchange by capital raised, attracting a 13 per cent market share, mainly on account of some of the year’s largest listings, including China CITIC Bank and China Railway.
NYSE was ranked second in terms of capital raised (11 per cent), attracting 3.6 per cent of total listings driven by a number of large US deals, including Blackstone Group and MF Global, reports The Hindu Business Line.
Source: Moneycontrol.com
China led with total IPO proceeds of USD 54.4 billion raised through 222 issues, according to data compiled till November by the consultancy firm. The cumulative value of IPOs on Indian bourses in 2007, however, was just marginally higher than the single largest IPO of the year by Russia’s VTB Bank, which raised USD 8 billion in May.
Globally, IPOs raised a record capital of USD 255 billion till November in 2007, according to the data. There were as many as 1,739 IPOs during January to November 2007, while another 91 public issues are estimated to have hit the capital markets during December.
In India, the largest IPO during the year was by realty giant DLF, which raised about Rs 9,187.50 crore (over USD 2 billion). E&Y said the strength of the Indian economy, stock market, corporate profits and private equity fuelled IPOs in 2007. During 2006, the Indian market had seen 78 IPOs raising $7.23 billion.
BRIC countries
The study noted that 14 of the top 20 IPOs were from emerging BRIC countries (Brazil, Russia, India and China), which raised USD 106.5 billion in 382 deals so far this year compared to USD 89.6 billion raised in 302 deals in the same period of 2006.
According to the data, Asia-Pacific accounted for 46 per cent of the worldwide IPO issues, ahead of Europe, West Asia, and Africa (EMEA), which together accounted for 35 per cent and North America 14 per cent.
Despite accounting for only 4 per cent of the total number of IPOs till November, the Hong Kong Stock Exchange (HKSE) was the leading exchange by capital raised, attracting a 13 per cent market share, mainly on account of some of the year’s largest listings, including China CITIC Bank and China Railway.
NYSE was ranked second in terms of capital raised (11 per cent), attracting 3.6 per cent of total listings driven by a number of large US deals, including Blackstone Group and MF Global, reports The Hindu Business Line.
Source: Moneycontrol.com
Wednesday, December 26, 2007
BGR Enegry IPO Allotment
Hello Guys,
Allotment of BGR Energy System (India) Ltd is out now. You can check the status of allotment on below sites:
http://www.intimespectrum.com
http://www.chittorgarh.com/stockmarket/BGR-Energy-ipo-allotment-status.asp
Best of Luck,
Thanks
Allotment of BGR Energy System (India) Ltd is out now. You can check the status of allotment on below sites:
http://www.intimespectrum.com
http://www.chittorgarh.com/stockmarket/BGR-Energy-ipo-allotment-status.asp
Best of Luck,
Thanks
Precision Pipes IPO subscribed 10 times
The initial public offer of Precision Pipes and Profiles Company, a Delhi-based OEM supplier to the automobile industry, has received good response, subscribed 10.35 times, as per NSE website.
The public issue received bids for 5.54 crore equity shares as against 53.57 lakh shares on offer.
The company had entered capital market with an public issue of shares of face value of Rs 10 each at a price band of Rs 140-150 per equity share.
The company is hoping to raise around Rs 75 crore from the issue to fund its expansion initiatives.
Post the issue, the promoter and promoter group holding would be reduced to between 62.69 and 64.29 per cent.
The company is currently in the process of increasing its production capabilities from 4.75 million kg to 9.14 million kg by 2008-09. It is also setting up a new plant for manufacturing of auto components and also a new plant for electrical outlet system products for Power and Data Corporation Pty Ltd, Australia.
UTI Securities Limited and Nexgen Capitals Limited are book running lead managers while Intime Spectrum Registry is registrar to the issue
Source: Moneycontrol.com
The public issue received bids for 5.54 crore equity shares as against 53.57 lakh shares on offer.
The company had entered capital market with an public issue of shares of face value of Rs 10 each at a price band of Rs 140-150 per equity share.
The company is hoping to raise around Rs 75 crore from the issue to fund its expansion initiatives.
Post the issue, the promoter and promoter group holding would be reduced to between 62.69 and 64.29 per cent.
The company is currently in the process of increasing its production capabilities from 4.75 million kg to 9.14 million kg by 2008-09. It is also setting up a new plant for manufacturing of auto components and also a new plant for electrical outlet system products for Power and Data Corporation Pty Ltd, Australia.
UTI Securities Limited and Nexgen Capitals Limited are book running lead managers while Intime Spectrum Registry is registrar to the issue
Source: Moneycontrol.com
Manjushree Extrusions IPO opens on Jan 7
Manjushree Extrusions, is making a rights-cum-follow on public offer of equity shares aggregating to Rs 35.70 crore.
The issue comprises of a rights issue of 42,10,800 equity shares of Rs 10 each for cash at a premium of Rs 20 per share aggregating to Rs 12.63 crore and a follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share aggregating to Rs 23.07 crore.
The rights issue will open on January 7, 2008 and close on February 6, 2008, while the public offer will open on January 31, 2008 and close on February 6, 2008.
Manjushree is currently listed on Ahmedabad, Kolkata and Guwahati Stock Exchanges and now proposes to also list on Bombay Stock Exchange.
Centrum Capital Ltd is the lead manager to the issue.
Source: Moneycontrol.com
The issue comprises of a rights issue of 42,10,800 equity shares of Rs 10 each for cash at a premium of Rs 20 per share aggregating to Rs 12.63 crore and a follow on public offer of 51,26,100 equity shares of Rs 10 each for cash at a premium of Rs 35 per share aggregating to Rs 23.07 crore.
The rights issue will open on January 7, 2008 and close on February 6, 2008, while the public offer will open on January 31, 2008 and close on February 6, 2008.
Manjushree is currently listed on Ahmedabad, Kolkata and Guwahati Stock Exchanges and now proposes to also list on Bombay Stock Exchange.
Centrum Capital Ltd is the lead manager to the issue.
Source: Moneycontrol.com
Selling IPOs on the listing day not a good idea
Nearly 102 companies had listed in 2007 till December 17. CNBC-TV18's Research Analyst, Mansi Vora has analysed that the price movements of 77 out of 102 IPOs shows that investors would have been better off not selling their shares on the day of listing.
Again 60% or 47 IPOs out of 77 IPOs, under consideration, had appreciated further post listing as well.
For instance - Orbit Corporation closed the day with a premium of 16.32% over its offer price of Rs 110 when it listed on the bourses on April 12 this year. However, if investors would have been patient and held this stock till December 17, they would have gained a mind-boggling 623% returns.
In case of Gremach Infra, which listed at a discount of 2.38% to its issue price of Rs 86 on April 11. However, by December 17, the stock price had skyrocketed to Rs 333.30, a gain of 287.56% in a span of 9 months.
Other prominent gainers in this list are -
* Everonn systems - (241.75 per cent on debut, 424.25 per cent on December 17)
* MIC Electronics - (123.77 per cent on debut, 402.10 per cent on Dec 17)
* PSTL - (58.20 per cent on debut, 316.05 per cent on Dec 17)
* GBN - (104.04 per cent on debut, 286.42 per cent on Dec 17)
* Redington - (44.47 per cent on debut, 245 per cent on Dec 17).
However, there are 32 IPOs out of the sample size of 77 IPOs did better on the day of their debut or have sunk further.
9 IPOs from this group did better on the listing day as compared to their closing price on December 17.
Prominent stocks are –
Cambridge Tech that listed at a premium of 163 per cent on February 7 and by December 17 pared its gains to 120.26 per cent.
Sel Manufacturing listed at a premium of 58.67 per cent August 21 and by December 17, reduced its gains to 24.28 per cent.
Pochiraju Industries gained 63.83 per cent on the day of listing (February 2) and pared its gains to 15.83 per cent by December 17.
Same is the case with Lumax Auto (47.47 per cent on January 16 and 12.67 per cent by December 17), Mind Tree (45.95 per cent March 7 and 10.52 per cent by December 17) and Roman Tarmat (82.77 per cent on July 9 and 8.91 per cent by December 17).
There are 35 IPOs, which ended the listing day at discount to its issue price. Out of which, only 11 IPOs had been bounced back and trading in the green with good gains while others were below issue price.
That 11 IPOs list includes – Gremach Infra gained nearly 288% till December 17 and Refex Refrigerants surged 173%. Others are Indus Fila, Evinix, Astral etc.
By December 17, balance 24 IPOs were trading below their issue price, like House of Pearl was down 52% from its issue price, Vijayeswari slipped 42% and Oriental Trimex down 41%.
Source: Moneycontrol.com
Again 60% or 47 IPOs out of 77 IPOs, under consideration, had appreciated further post listing as well.
For instance - Orbit Corporation closed the day with a premium of 16.32% over its offer price of Rs 110 when it listed on the bourses on April 12 this year. However, if investors would have been patient and held this stock till December 17, they would have gained a mind-boggling 623% returns.
In case of Gremach Infra, which listed at a discount of 2.38% to its issue price of Rs 86 on April 11. However, by December 17, the stock price had skyrocketed to Rs 333.30, a gain of 287.56% in a span of 9 months.
Other prominent gainers in this list are -
* Everonn systems - (241.75 per cent on debut, 424.25 per cent on December 17)
* MIC Electronics - (123.77 per cent on debut, 402.10 per cent on Dec 17)
* PSTL - (58.20 per cent on debut, 316.05 per cent on Dec 17)
* GBN - (104.04 per cent on debut, 286.42 per cent on Dec 17)
* Redington - (44.47 per cent on debut, 245 per cent on Dec 17).
However, there are 32 IPOs out of the sample size of 77 IPOs did better on the day of their debut or have sunk further.
9 IPOs from this group did better on the listing day as compared to their closing price on December 17.
Prominent stocks are –
Cambridge Tech that listed at a premium of 163 per cent on February 7 and by December 17 pared its gains to 120.26 per cent.
Sel Manufacturing listed at a premium of 58.67 per cent August 21 and by December 17, reduced its gains to 24.28 per cent.
Pochiraju Industries gained 63.83 per cent on the day of listing (February 2) and pared its gains to 15.83 per cent by December 17.
Same is the case with Lumax Auto (47.47 per cent on January 16 and 12.67 per cent by December 17), Mind Tree (45.95 per cent March 7 and 10.52 per cent by December 17) and Roman Tarmat (82.77 per cent on July 9 and 8.91 per cent by December 17).
There are 35 IPOs, which ended the listing day at discount to its issue price. Out of which, only 11 IPOs had been bounced back and trading in the green with good gains while others were below issue price.
That 11 IPOs list includes – Gremach Infra gained nearly 288% till December 17 and Refex Refrigerants surged 173%. Others are Indus Fila, Evinix, Astral etc.
By December 17, balance 24 IPOs were trading below their issue price, like House of Pearl was down 52% from its issue price, Vijayeswari slipped 42% and Oriental Trimex down 41%.
| IPO | Gains on listing day (%) | Gains as on Dec 17 (%) |
| 16.32 | 623.55 | |
| 241.75 | 424.25 | |
| 123.77 | 402.1 | |
| 58.2 | 316.05 | |
| -2.38 | 287.56 | |
| 104.04 | 286.42 | |
| 44.47 | 245 | |
| 74.63 | 221.68 | |
| 178.59 | 193.39 | |
| 31.24 | 192.06 | |
| 141.7 | 182.2 | |
| 41.56 | 180.38 | |
| -4.62 | 172.62 | |
| 154.79 | 158.82 | |
| 52.49 | 158.4 | |
| 43.32 | 152.62 | |
| 47.05 | 129.11 | |
| 2.64 | 126.81 | |
| 163.03 | 120.26 | |
| 28.85 | 110.94 | |
| 26.63 | 109.88 | |
| 4.44 | 108.37 | |
| 18.48 | 107.59 | |
| 11.75 | 107.25 | |
| 8.02 | 103.19 | |
| 75.46 | 97.23 | |
| 11.72 | 93.33 | |
| -22.26 | 82.35 | |
| 8.58 | 79.86 | |
| 40.26 | 75.26 | |
| 14.07 | 73.13 | |
| 12.89 | 68.16 | |
| 32.82 | 67.95 | |
| -38.54 | 67.21 | |
| -9.09 | 58.87 | |
| 26.92 | 56.68 | |
| -8.47 | 53.07 | |
| -28.09 | 46.85 | |
| -14.06 | 34.13 | |
| 31.85 | 32.39 | |
| 13.14 | 31.47 | |
| 56.71 | 28.71 | |
| 58.67 | 24.28 | |
| 63.83 | 15.83 | |
| 47.47 | 12.67 | |
| 45.95 | 10.52 | |
| 23.17 | 10.29 | |
| -29.11 | 9.06 | |
| 82.77 | 8.91 | |
| 24.38 | 8.2 | |
| -9.56 | 7.46 | |
| -28.58 | 3.8 | |
| 12 | -2.5 | |
| -1.71 | -5.71 | |
| -7.41 | -7.36 | |
| -7.11 | -11.86 | |
| 14.64 | -11.89 | |
| -12.5 | -16.63 | |
| -17.56 | -17.59 | |
| -23.97 | -18.24 | |
| 4.4 | -20.2 | |
| Technocraft Industries (India) | -3.9 | -22.76 |
| -12.08 | -23.33 | |
| -9.13 | -23.46 | |
| -5.83 | -25.36 | |
| -22.89 | -26.42 | |
| -4.78 | -27.52 | |
| -3.43 | -30.36 | |
| -5.82 | -30.59 | |
| -0.06 | -31.11 | |
| -18.24 | -32.87 | |
| -17.59 | -33.06 | |
| -8.85 | -33.85 | |
| -7.4 | -38.64 | |
| -38.65 | -41.25 | |
| -31.05 | -42 | |
| -14.65 | -51.78 |
Source: Moneycontrol.com
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