Bank of Maharashtra is planning FPO in FY09, reports CNBC-TV18, source NW18.
Source: Moneycontrol.com
Wednesday, April 30, 2008
Tuesday, April 29, 2008
Reliance Power puts IPO money in MFs
Reliance Power Ltd, which raised Rs 11,562 crore in its IPO in January last, has temporarily parked almost the entire money in mutual funds. The 2007-08 financial results declared by the company on Monday show that Rs 11,412.81 crore is invested in mutual funds. The company has not disclosed either the funds or the schemes where the money has been invested.
The IPO offer document says that the company “intends to invest the funds from the issue in interest bearing liquid instruments including deposits with banks and investments in mutual funds. These investments may include investments in mutual funds managed or financial products sold by one of our affiliates, RCL (Reliance Capital)”
The company has spent only Rs 25.83 crore as of March 31, 2008 in construction and development of its various projects.
The temporary parking of the IPO money in mutual funds has helped the company report a net profit of Rs 94.6 crore for 2007-08. Total income for year stands at Rs 132.8 crore, of which dividend income is Rs 112.7 crore.
The company has also informed that from March 31, Coastal Andhra Power Ltd, Reliance Coal Resources Pvt Ltd, Sasan Power Infrastructure Pvt Ltd, Sasan Power Infraventures Pvt Ltd, Maharashtra Energy Generation Infrastructure Ltd and Coastal Andhra Power Infrastructure Ltd have been incorporated as wholly owned subsidiaries.
On the BSE, the scrip was traded at Rs 403.25, an increase of 0.27 per cent over the previous closing of Rs 402.15, reports The Hindu Business Line.
Source: Moneycontrol.com
The IPO offer document says that the company “intends to invest the funds from the issue in interest bearing liquid instruments including deposits with banks and investments in mutual funds. These investments may include investments in mutual funds managed or financial products sold by one of our affiliates, RCL (Reliance Capital)”
The company has spent only Rs 25.83 crore as of March 31, 2008 in construction and development of its various projects.
The temporary parking of the IPO money in mutual funds has helped the company report a net profit of Rs 94.6 crore for 2007-08. Total income for year stands at Rs 132.8 crore, of which dividend income is Rs 112.7 crore.
The company has also informed that from March 31, Coastal Andhra Power Ltd, Reliance Coal Resources Pvt Ltd, Sasan Power Infrastructure Pvt Ltd, Sasan Power Infraventures Pvt Ltd, Maharashtra Energy Generation Infrastructure Ltd and Coastal Andhra Power Infrastructure Ltd have been incorporated as wholly owned subsidiaries.
On the BSE, the scrip was traded at Rs 403.25, an increase of 0.27 per cent over the previous closing of Rs 402.15, reports The Hindu Business Line.
Source: Moneycontrol.com
Saturday, April 26, 2008
Gokul Refoils IPO opens on May 8, price band Rs 175-195
Gokul Refoils and Solvent, a Gujarat based company, engaged in the business of solvent extraction, refining of Edible oils and Vanaspati manufacturing, has received ROC clearance and has fixed a price band of Rs 175 to Rs 195 for its forthcoming initial public offer (IPO) of 71,58,392 equity shares of Rs 10 each for cash.
The net issue to the public comprises of 70,83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of is Rs 10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value.
The company intends to raise Rs.139.59 crores at the cap price of the price band. The 100% Book Build Issue Opens on Thursday May 8, 2008 and Closes on Tuesday May13, 2008.
About Gokul Refoils and Solvent:
Gokul Refoil is primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The company’s manufacturing facilities at Sidhpur, Gandhidham & Surat, have the ability to provide comprehensive range of oil products. Moreover, Gokul is one of the few players in the vegetable oil industry in India that are able to produce a broad variety of oil & derivative products. The manufacturing facilities are versatile in nature, can process various types of oils including palmolein, soyabean, cotton, sunflower, groundnut and mustard. The existing setup is such that the company can switch over from processing of one type of oil to another type of oil with no down time.
Financials:
Gokul Refoils consolidated total income for the financial years ended March 31, 2007 was Rs. 1599.86 crores and Rs.1347.82 crores for the period ended Nov, 2007. Profit after tax for the FY07 was Rs. 25.73 crores, and Rs.41.83 crores for the period ended Nov 30, 2007. Company’s sales have grown at a CAGR of 39.30% over the last 5 financial years and its PAT has increased at a CAGR of 41.16% over the last 5 financial years and EPS reported a growth of 24 % in last 3 years.
Present Business Activity & its Products:-
Today the group’s interest includes Refining of Edible oil, Castor oil & its derivatives, Vananspati, Solvent Extraction & Power Generation and Commodity trading in the domestic as well as international markets At present Gokul Refoils and Solvent Limited has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1200 TPD of refining & 200 TPD of Vanaspati manufacturing. The units are situated at: Sidhpur (Sidhpur unit, North Gujarat), Anjar (Gandhidham unit, Kutch), Navi Pardi (Surat unit, South Gujarat) & Kutch (Wind mills).
Source: Moneycontrol.com
The net issue to the public comprises of 70,83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of is Rs 10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value.
The company intends to raise Rs.139.59 crores at the cap price of the price band. The 100% Book Build Issue Opens on Thursday May 8, 2008 and Closes on Tuesday May13, 2008.
About Gokul Refoils and Solvent:
Gokul Refoil is primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The company’s manufacturing facilities at Sidhpur, Gandhidham & Surat, have the ability to provide comprehensive range of oil products. Moreover, Gokul is one of the few players in the vegetable oil industry in India that are able to produce a broad variety of oil & derivative products. The manufacturing facilities are versatile in nature, can process various types of oils including palmolein, soyabean, cotton, sunflower, groundnut and mustard. The existing setup is such that the company can switch over from processing of one type of oil to another type of oil with no down time.
Financials:
Gokul Refoils consolidated total income for the financial years ended March 31, 2007 was Rs. 1599.86 crores and Rs.1347.82 crores for the period ended Nov, 2007. Profit after tax for the FY07 was Rs. 25.73 crores, and Rs.41.83 crores for the period ended Nov 30, 2007. Company’s sales have grown at a CAGR of 39.30% over the last 5 financial years and its PAT has increased at a CAGR of 41.16% over the last 5 financial years and EPS reported a growth of 24 % in last 3 years.
Present Business Activity & its Products:-
Today the group’s interest includes Refining of Edible oil, Castor oil & its derivatives, Vananspati, Solvent Extraction & Power Generation and Commodity trading in the domestic as well as international markets At present Gokul Refoils and Solvent Limited has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1200 TPD of refining & 200 TPD of Vanaspati manufacturing. The units are situated at: Sidhpur (Sidhpur unit, North Gujarat), Anjar (Gandhidham unit, Kutch), Navi Pardi (Surat unit, South Gujarat) & Kutch (Wind mills).
Source: Moneycontrol.com
Thursday, April 24, 2008
Anu's Labs files for IPO
Hyderabad-based Anu's Laboratories has filed draft red herring prospectus with Sebi to raise around Rs 800 million from the capital markets.
Anu's Labs is the market leader in producing Dichloro-5-Fluoro Acetophenone, or DCFA, a key intermediate for ciprofloxacin. The company has over 60% market share in the country.
The company plans to deploy the proceeds raised from the initial public offering to set up an intermediary plant and contract research facility at Pharma City in Visakhapatnam, reports The Hindu Business Line.
Source: Moneycontrol.com
Anu's Labs is the market leader in producing Dichloro-5-Fluoro Acetophenone, or DCFA, a key intermediate for ciprofloxacin. The company has over 60% market share in the country.
The company plans to deploy the proceeds raised from the initial public offering to set up an intermediary plant and contract research facility at Pharma City in Visakhapatnam, reports The Hindu Business Line.
Source: Moneycontrol.com
Gokul Refoils IPO opens on May 8, price band Rs 175-195
Gokul Refoils and Solvent, a Gujarat based company, engaged in the business of solvent extraction, refining of Edible oils and Vanaspati manufacturing, has received ROC clearance and has fixed a price band of Rs 175 to Rs 195 for its forthcoming initial public offer (IPO) of 71,58,392 equity shares of Rs 10 each for cash.
The net issue to the public comprises of 70,83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of is Rs 10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value.
The company intends to raise Rs.139.59 crores at the cap price of the price band. The 100% Book Build Issue Opens on Thursday May 8, 2008 and Closes on Tuesday May13, 2008.
About Gokul Refoils and Solvent Limited:
Gokul Refoil was incorporated in 1992 and is primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The company’s manufacturing facilities at Sidhpur, Gandhidham & Surat, have the ability to provide comprehensive range of oil products. Moreover, Gokul is one of the few players in the vegetable oil industry in India that are able to produce a broad variety of oil & derivative products. The manufacturing facilities are versatile in nature, can process various types of oils including palmolein, soyabean, cotton, sunflower, groundnut and mustard. The existing setup is such that the company can switch over from processing of one type of oil to another type of oil with no down time.
Financials:
Gokul Refoils consolidated total income for the financial years ended March 31, 2007 was Rs. 1599.86 crores and Rs.1347.82 crores for the period ended Nov, 2007. Profit after tax for the FY07 was Rs. 25.73 crores, and Rs.41.83 crores for the period ended Nov 30, 2007. Company’s sales have grown at a CAGR of 39.30% over the last 5 financial years and its PAT has increased at a CAGR of 41.16% over the last 5 financial years and EPS reported a growth of 24 % in last 3 years.
Present Business Activity & its Products:-
Today the group’s interest includes Refining of Edible oil, Castor oil & its derivatives, Vananspati, Solvent Extraction & Power Generation and Commodity trading in the domestic as well as international markets At present Gokul Refoils and Solvent Limited has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1200 TPD of refining & 200 TPD of Vanaspati manufacturing. The units are situated at: Sidhpur (Sidhpur unit, North Gujarat), Anjar (Gandhidham unit, Kutch), Navi Pardi (Surat unit, South Gujarat) & Kutch (Wind mills).
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Source: Moneycontrol.com
The net issue to the public comprises of 70,83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of is Rs 10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value.
The company intends to raise Rs.139.59 crores at the cap price of the price band. The 100% Book Build Issue Opens on Thursday May 8, 2008 and Closes on Tuesday May13, 2008.
About Gokul Refoils and Solvent Limited:
Gokul Refoil was incorporated in 1992 and is primarily engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The company’s manufacturing facilities at Sidhpur, Gandhidham & Surat, have the ability to provide comprehensive range of oil products. Moreover, Gokul is one of the few players in the vegetable oil industry in India that are able to produce a broad variety of oil & derivative products. The manufacturing facilities are versatile in nature, can process various types of oils including palmolein, soyabean, cotton, sunflower, groundnut and mustard. The existing setup is such that the company can switch over from processing of one type of oil to another type of oil with no down time.
Financials:
Gokul Refoils consolidated total income for the financial years ended March 31, 2007 was Rs. 1599.86 crores and Rs.1347.82 crores for the period ended Nov, 2007. Profit after tax for the FY07 was Rs. 25.73 crores, and Rs.41.83 crores for the period ended Nov 30, 2007. Company’s sales have grown at a CAGR of 39.30% over the last 5 financial years and its PAT has increased at a CAGR of 41.16% over the last 5 financial years and EPS reported a growth of 24 % in last 3 years.
Present Business Activity & its Products:-
Today the group’s interest includes Refining of Edible oil, Castor oil & its derivatives, Vananspati, Solvent Extraction & Power Generation and Commodity trading in the domestic as well as international markets At present Gokul Refoils and Solvent Limited has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1200 TPD of refining & 200 TPD of Vanaspati manufacturing. The units are situated at: Sidhpur (Sidhpur unit, North Gujarat), Anjar (Gandhidham unit, Kutch), Navi Pardi (Surat unit, South Gujarat) & Kutch (Wind mills).
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Source: Moneycontrol.com
Wednesday, April 23, 2008
New IPO application forms to avoid manual intervention
SEBI’s Primary Market Advisory Committee (PMAC) has given an in-principle nod for initiating steps to ensure “no manual intervention” in the primary market issuance process.
The Minister of State for Finance, Mr Pawan Kumar Bansal, said in a written reply in the Rajya Sabha today that the PMAC has endorsed the suggestions of the Group on Review of Issue Process (GRIP) on this matter. GRIP had recommended modified application forms that can be submitted physically as well as electronically.
For transparency :
“These measures will enable faster and transparent processing of application forms leading to a reduction in the time gap between closure of an IPO and its listing,” Mr Bansal said.
Indications are that the proposed measures would be placed for approval before the SEBI Board, as part of reform process on the primary market. SEBI had advised the PMAC to review the entire issue process with an objective to reduce the time gap between closure of an IPO and its listing, reports The Hindu Business Line.
Source: Moneycontrol.com
The Minister of State for Finance, Mr Pawan Kumar Bansal, said in a written reply in the Rajya Sabha today that the PMAC has endorsed the suggestions of the Group on Review of Issue Process (GRIP) on this matter. GRIP had recommended modified application forms that can be submitted physically as well as electronically.
For transparency :
“These measures will enable faster and transparent processing of application forms leading to a reduction in the time gap between closure of an IPO and its listing,” Mr Bansal said.
Indications are that the proposed measures would be placed for approval before the SEBI Board, as part of reform process on the primary market. SEBI had advised the PMAC to review the entire issue process with an objective to reduce the time gap between closure of an IPO and its listing, reports The Hindu Business Line.
Source: Moneycontrol.com
Tuesday, April 22, 2008
Adani Group begins groundwork for Adani Power's IPO
Adani Group is believed to have started the groundwork for the initial public offering (IPO) of Adani Power (APL). The company is in talks with merchant bankers.
The weak market condition has come in the way of the company in taking a final call on the IPO. Industry sources said that the company has already initiated discussion with a number of merchant bankers, including SBI Caps, for issue advisory.
Sources said that the company is currently waiting for the market conditions to improve before taking a final view on the issue size and timing. “We are not expecting the issue to hit the capital markets before September-October,” a merchant banking source said.
Sources in APL though admitted that there are some early considerations about the IPO, stressed that the group was yet to take a call on the issue.
It may be mentioned that 3i India Infrastructure Ltd, London-based private equity firm 3i Group’s investment vehicle, has already invested Rs 900 crore (USD 227 million) to acquire a minority stake in Adani Power Ltd.
According to sources, Adani Power Maharashtra Pvt Ltd – a wholly owned subsidiary of Adani Power Ltd – may announce the financial closure of the proposed 1,320 MW (2X 660 MW) coal-based thermal power plant at Tirora by May-June. Tirora is in Gondia district of Maharashtra.
According to sources, Adanis are in an advanced stage of tying up the loan finances of the project. “The lenders to the Tirora project are already identified. We are expecting Adani Power to announce the financial closure of the project latest by June,” a banking industry source said.
Meanwhile, Adani Power is making steady progress in implementing the 4X 330 MW (1,320 MW) thermal power project at Mundra. The project will be expanded by another 1,320 MW in the second phase.
“Implementing of the phase-I is on schedule. The first 330 MW unit is expected to be commissioned in the second quarter of 2008-09. The rest three units are expected to be commissioned in a phase-wise manner in a gap of every three to four months from the commissioning of the first unit,” a source said, reports The Hindu Business Line.
Source: Moneycontrol.com
The weak market condition has come in the way of the company in taking a final call on the IPO. Industry sources said that the company has already initiated discussion with a number of merchant bankers, including SBI Caps, for issue advisory.
Sources said that the company is currently waiting for the market conditions to improve before taking a final view on the issue size and timing. “We are not expecting the issue to hit the capital markets before September-October,” a merchant banking source said.
Sources in APL though admitted that there are some early considerations about the IPO, stressed that the group was yet to take a call on the issue.
It may be mentioned that 3i India Infrastructure Ltd, London-based private equity firm 3i Group’s investment vehicle, has already invested Rs 900 crore (USD 227 million) to acquire a minority stake in Adani Power Ltd.
According to sources, Adani Power Maharashtra Pvt Ltd – a wholly owned subsidiary of Adani Power Ltd – may announce the financial closure of the proposed 1,320 MW (2X 660 MW) coal-based thermal power plant at Tirora by May-June. Tirora is in Gondia district of Maharashtra.
According to sources, Adanis are in an advanced stage of tying up the loan finances of the project. “The lenders to the Tirora project are already identified. We are expecting Adani Power to announce the financial closure of the project latest by June,” a banking industry source said.
Meanwhile, Adani Power is making steady progress in implementing the 4X 330 MW (1,320 MW) thermal power project at Mundra. The project will be expanded by another 1,320 MW in the second phase.
“Implementing of the phase-I is on schedule. The first 330 MW unit is expected to be commissioned in the second quarter of 2008-09. The rest three units are expected to be commissioned in a phase-wise manner in a gap of every three to four months from the commissioning of the first unit,” a source said, reports The Hindu Business Line.
Source: Moneycontrol.com
Kiri Dyes ends with 5.97% premium
Kiri Dyes & Chemicals, manufacturer of synthetic organic and dye intermediates, ended the day at Rs 158.95 on the NSE with a premium of 5.97% on its issue price of Rs 150.
On the NSE, the stock had touched an intraday high of Rs 228.70 and intraday low of Rs 156.15. Its total traded quantity was 1,22,02,553 shares and turnover was Rs 211.65 crore.
On the BSE, Kiri Dyes closed at Rs 158.55. It has touched an intraday high of Rs 204 and intraday low of Rs 151. The total traded quantity was 1,23,02,573 shares.
The share opened at Rs 184 on the NSE and at Rs 151 on the BSE.
The company had entered capital market with its IPO of 37,50,000 equity shares of Rs 10 each and raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.
Source: Moneycontrol.com
On the NSE, the stock had touched an intraday high of Rs 228.70 and intraday low of Rs 156.15. Its total traded quantity was 1,22,02,553 shares and turnover was Rs 211.65 crore.
On the BSE, Kiri Dyes closed at Rs 158.55. It has touched an intraday high of Rs 204 and intraday low of Rs 151. The total traded quantity was 1,23,02,573 shares.
The share opened at Rs 184 on the NSE and at Rs 151 on the BSE.
The company had entered capital market with its IPO of 37,50,000 equity shares of Rs 10 each and raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.
Source: Moneycontrol.com
Monday, April 21, 2008
Kiri Dyes & Chemicals to list on April 22
Kiri Dyes & Chemicals, manufacturer of reactive dyes also known as Synthetic Organic and Dye Intermediates will list on the bourses with its equity shares on April 22, 2008.
It has been fixed the issue price at Rs 150 per equity share for its IPO of 37,50,000 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The initial public offering was subscribed 1.43 times, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.
The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
It has been fixed the issue price at Rs 150 per equity share for its IPO of 37,50,000 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The initial public offering was subscribed 1.43 times, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.
The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
Titagarh Wagons ends with 33.33% premium
Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, closed at Rs 706.85, a gain 30.90% or Rs 166.85 as against its issue price of Rs 540 on the NSE. The stock has hit an intraday high of Rs 734.70 and an intraday low of Rs 540. The total traded quantity was 5384,541 shares and the turnover was at Rs 369 crore.
In an interview with CNBC-TV18, Umesh Chaudhry, Managing Director of Titagrah Wagons said that the railways had announced that they would be buying 20,000 wagons from Titagarh Wagons in FY09. Wagons have contributed to 80% of the company’s revenues, he said.
The share rose 30.96% to settle at 707.20, with volumes of 53,47,556 shares on the BSE. It has touched an intraday high/low of Rs 734.40 and Rs 550, respectively.
The company had come out with its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process. The issue was subscribed to 6.75 times.
It is a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings.
Source: Moneycontrol.com
In an interview with CNBC-TV18, Umesh Chaudhry, Managing Director of Titagrah Wagons said that the railways had announced that they would be buying 20,000 wagons from Titagarh Wagons in FY09. Wagons have contributed to 80% of the company’s revenues, he said.
The share rose 30.96% to settle at 707.20, with volumes of 53,47,556 shares on the BSE. It has touched an intraday high/low of Rs 734.40 and Rs 550, respectively.
The company had come out with its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process. The issue was subscribed to 6.75 times.
It is a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings.
Source: Moneycontrol.com
Railways to buy 20,000 wagons from Titagarh in FY09
Umesh Chaudhry,Managing Director of Titagrah Wagons Limited said that they would be declaring their audited numbers on April 28. He also informed CNBC-TV18 that the railways had announced that they would be buying 20,000 wagons from Titagarh Wagons in FY09.
Chaudhry said that, they will target to meet and better analyst expectations on numbers for FY09. He added that, wagons have contributed to 80% of the company’s revenues.
Excerpts from CNBC-TV18's exclusive interview with Umesh Chaudhry
Q1: What order book visibility do you have for the current year FY09, and what do you think you can do by way of sales and profits this year?
A: As far as FY08 is concerned, we have announced that we are declaring our audited numbers on April 28, as far as FY09 is concerned we would not be able to give any guidance at this stage. We would only be in a position to do that after the board has discussed the results, of FY08. The order book is looking very healthy. The railways had announced that they would be buying 20,000 wagons in FY09, this was against about 12,000 to 13,000 last year, so there is a very healthy order book that is picking up or is likely to pick up from the railways and we expect to be able to carry the momentum.
Q2: Our estimates throw up that you should do upwards of Rs 750 crore as your top line and about Rs 75 crore as your bottom line, the first figure was your top line target for FY09, is that a doable target?
A: I would not comment on any forward looking numbers here, but definitely we would be targeting towards meeting the analysts expectations. In the past we have been able to beat the analysts expectations and we would try to keep that track record on.
Q3: What kind of a revenue contribution do you expect to see the heavy earth mining contributing to the overall revenue growth?
A: That’s a business that has just started picking up. We took that over from Hyderabad Industries about a year and a half or two years ago, and then when we took it over, the company’s division was not doing too well, going forward we see a good momentum coming in the mining sector and we believe that we are in a very unique position in that sector because of the larger mining equipments. There are not too many players in that field, who are pre-qualified by large customers like Coal India Limited, so we are giving a lot of thrust on that sector as well. Wagons continue to remain our main core business and it did contribute to 80% of our revenues, but going forward we believe that all the other divisions like the passenger coaches and special projects will also contribute towards the company’s growth ahead.
Source: Moneycontrol.com
Chaudhry said that, they will target to meet and better analyst expectations on numbers for FY09. He added that, wagons have contributed to 80% of the company’s revenues.
Excerpts from CNBC-TV18's exclusive interview with Umesh Chaudhry
Q1: What order book visibility do you have for the current year FY09, and what do you think you can do by way of sales and profits this year?
A: As far as FY08 is concerned, we have announced that we are declaring our audited numbers on April 28, as far as FY09 is concerned we would not be able to give any guidance at this stage. We would only be in a position to do that after the board has discussed the results, of FY08. The order book is looking very healthy. The railways had announced that they would be buying 20,000 wagons in FY09, this was against about 12,000 to 13,000 last year, so there is a very healthy order book that is picking up or is likely to pick up from the railways and we expect to be able to carry the momentum.
Q2: Our estimates throw up that you should do upwards of Rs 750 crore as your top line and about Rs 75 crore as your bottom line, the first figure was your top line target for FY09, is that a doable target?
A: I would not comment on any forward looking numbers here, but definitely we would be targeting towards meeting the analysts expectations. In the past we have been able to beat the analysts expectations and we would try to keep that track record on.
Q3: What kind of a revenue contribution do you expect to see the heavy earth mining contributing to the overall revenue growth?
A: That’s a business that has just started picking up. We took that over from Hyderabad Industries about a year and a half or two years ago, and then when we took it over, the company’s division was not doing too well, going forward we see a good momentum coming in the mining sector and we believe that we are in a very unique position in that sector because of the larger mining equipments. There are not too many players in that field, who are pre-qualified by large customers like Coal India Limited, so we are giving a lot of thrust on that sector as well. Wagons continue to remain our main core business and it did contribute to 80% of our revenues, but going forward we believe that all the other divisions like the passenger coaches and special projects will also contribute towards the company’s growth ahead.
Source: Moneycontrol.com
Friday, April 18, 2008
IPO Grey Market Premium Rates & Listing Dates
| Company | Open/Close | Offer Price | Premium | Kostak Rates |
|---|---|---|---|---|
| Aishwarya Telecom Limited | 15 Apr - 17 Apr | 32 to 35 | 05 to 06 | 1600 to 1800 |
| Kiri Dyes & Chemicals Ltd | 25 Mar - 02 Apr | 125 to 150 | 10 to 11 | ------- |
| Titagarh Wagons Limited | 24 Mar - 27 Mar | 540 to 610 | 13 to 15 | ------- |
| Company | Expected Allotment Date | Expected Refund Date | Listing Date |
|---|---|---|---|
| Aishwarya Telecom Limited | 02 May | 05 May | ------- |
| Kiri Dyes & Chemicals Ltd | 16 April | 17 April | ------- |
| Titagarh Wagons Limited | 10 April | 11 April | ------- |
Pride Hotels Looking for IPO
Pride Hotels Ltd is planning an initial public offering of 5,950,000 equity shares of Rs 10 for cash at a price to be determined through the book building process.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange.
The issue comprises a net issue of 5,900,000 shares and a reservation of 50,000 shares for employees. The issue and the net issue constitute 22.39 per cent and 22.20 per cent respectively of the fully diluted post issue paid-up capital.
Funds raised from the IPO will go in meeting the costs of construction of new projects in Mumbai, Alibaug, Goa and Bangalore, as well as expansion and renovation of existing hotel property at Pune, Ahmedabad and Nagpur.
The book running lead manager to the issue is Edelweiss Capital.
The company’s property in Chennai is now fully operational. Catering to business executives at the middle and senior management levels, it boasts 115 rooms, a coffee shop, restaurant and two banquet halls. The property is spread over 9,904.25 sq. ft.
SP Jain, managing director, Pride Hotels, said, “with the Pride Hotel, Chennai, becoming fully operational, we have commenced the implementation of a multi-pronged expansion and growth strategy for the south Indian market. We are also plan to tap opportunities in marketing and managing hotels owned by others.”
As per the FHRAI & HVS international: Indian Hotel Industry survey 2005-06, the average occupancy of hotels in Chennai shot up to 78 per cent in fiscal 2006 (up from 61.6% in 2004), which is higher than other metros such as Mumbai, New Delhi, Bangalore and Kolkata as well as the all India average (64.1%).
Arun Nayyar, director-operations, Pride Hotels, added, “we have implemented a multi-pronged strategy for setting up and operating hotels across various cities in south India. Our Chennai hotel is conveniently located to cater to business and other guests.”
Pride Hotels has properties in Pune and Nagpur in Maharashtra; Ahmedabad in Gujarat, and at Chennai in Tamil Nadu, and together it has 430 rooms, 11 food and beverage outlets and 19 banquet halls.
The company has three subsidiaries, namely, Indralok Hotels, Somti Hotels and Pride Beach Resorts. It also has an associate concern, Jagsons Hotels, in which Pride Hotels holds 22.34 per cent equity.
The company plans to set up hotels in Bangalore (Karnataka), in Mumbai and Alibaug (Maharashtra) and in Goa which are among the key travel destinations for leisure and business purposes
Source: Greymarket.in
The shares will be listed on Bombay Stock Exchange and National Stock Exchange.
The issue comprises a net issue of 5,900,000 shares and a reservation of 50,000 shares for employees. The issue and the net issue constitute 22.39 per cent and 22.20 per cent respectively of the fully diluted post issue paid-up capital.
Funds raised from the IPO will go in meeting the costs of construction of new projects in Mumbai, Alibaug, Goa and Bangalore, as well as expansion and renovation of existing hotel property at Pune, Ahmedabad and Nagpur.
The book running lead manager to the issue is Edelweiss Capital.
The company’s property in Chennai is now fully operational. Catering to business executives at the middle and senior management levels, it boasts 115 rooms, a coffee shop, restaurant and two banquet halls. The property is spread over 9,904.25 sq. ft.
SP Jain, managing director, Pride Hotels, said, “with the Pride Hotel, Chennai, becoming fully operational, we have commenced the implementation of a multi-pronged expansion and growth strategy for the south Indian market. We are also plan to tap opportunities in marketing and managing hotels owned by others.”
As per the FHRAI & HVS international: Indian Hotel Industry survey 2005-06, the average occupancy of hotels in Chennai shot up to 78 per cent in fiscal 2006 (up from 61.6% in 2004), which is higher than other metros such as Mumbai, New Delhi, Bangalore and Kolkata as well as the all India average (64.1%).
Arun Nayyar, director-operations, Pride Hotels, added, “we have implemented a multi-pronged strategy for setting up and operating hotels across various cities in south India. Our Chennai hotel is conveniently located to cater to business and other guests.”
Pride Hotels has properties in Pune and Nagpur in Maharashtra; Ahmedabad in Gujarat, and at Chennai in Tamil Nadu, and together it has 430 rooms, 11 food and beverage outlets and 19 banquet halls.
The company has three subsidiaries, namely, Indralok Hotels, Somti Hotels and Pride Beach Resorts. It also has an associate concern, Jagsons Hotels, in which Pride Hotels holds 22.34 per cent equity.
The company plans to set up hotels in Bangalore (Karnataka), in Mumbai and Alibaug (Maharashtra) and in Goa which are among the key travel destinations for leisure and business purposes
Source: Greymarket.in
Thursday, April 17, 2008
What experts say about Titagarh Wagons listing?
Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings, will list on the bourses with its equity shares on April 21, 2008.
According to Investment Advisor, S P Tulsian, "Titagarh Wagons having issued shares at Rs 540 is likely to list at Rs 565. Investors are advised to remain invested and go for profit booking above Rs 600."
R S Iyer of KR Choksey Securities said, "It is expected to list around its issue price but operators (like they did for Sita Shree Foods) will push the stock around Rs 650. Investors should use that opportunity to sell the stock."
It has been fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The issue was subscribed to 6.75 times. The qualified institutional bidders portion was subscribed approximately 10.37 times; non institutional bidder portion - 2.77 times; and retail bidder portion - 0.98 times.
Source: Moneycontrol.com
According to Investment Advisor, S P Tulsian, "Titagarh Wagons having issued shares at Rs 540 is likely to list at Rs 565. Investors are advised to remain invested and go for profit booking above Rs 600."
R S Iyer of KR Choksey Securities said, "It is expected to list around its issue price but operators (like they did for Sita Shree Foods) will push the stock around Rs 650. Investors should use that opportunity to sell the stock."
It has been fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The issue was subscribed to 6.75 times. The qualified institutional bidders portion was subscribed approximately 10.37 times; non institutional bidder portion - 2.77 times; and retail bidder portion - 0.98 times.
Source: Moneycontrol.com
Aishwarya Telecom IPO subscribed 20 times
The initial public offer of Aishwarya Telecom has subscribed 20 times, till 5 pm, as per NSE website. It has received bids for 8 crore shares as against 40 lakh shares on offer. The price band was between Rs 32-35 per share. The issue closed for subscription.
Reservation to eligible employees is about 1,00,000 shares and hence the net issue to the public would be 39,00,000 equity shares.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures Test & Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc and not only in the manufacture of Optic Fiber Cable. In fact, Aishwarya Telecom is one of the important players in the T&M industry, which mainly supplies its products to major telecom operators.
Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Reservation to eligible employees is about 1,00,000 shares and hence the net issue to the public would be 39,00,000 equity shares.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures Test & Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc and not only in the manufacture of Optic Fiber Cable. In fact, Aishwarya Telecom is one of the important players in the T&M industry, which mainly supplies its products to major telecom operators.
Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Wednesday, April 16, 2008
Titagarh Wagons to list on April 21
Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings, will list on the bourses with its equity shares on April 21, 2008.
It has been fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The issue was subscribed to 6.75 times. The qualified institutional bidders portion was subscribed approximately 10.37 times; non institutional bidder portion - 2.77 times; and retail bidder portion - 0.98 times.
The objects of the issue were to utilise the proceeds of the fresh issue towards the purposes of a) Setting up an EMU manufacturing facility at Uttarpara unit; b) Modernising and expanding the existing facilities at Titagarh and Uttarpara units; c) Setting up an axle machining and wheelset assembly facility at Uttarpara unit; d) Constructing a corporate office and a design cum research and development office; e) Strategic acquisition or investments; f) Brand building exercise; and g) general corporate purposes.
The book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the co-book running lead manager is JM Financial Consultants Private Limited.
Source: Moneycontrol.com
It has been fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The issue was subscribed to 6.75 times. The qualified institutional bidders portion was subscribed approximately 10.37 times; non institutional bidder portion - 2.77 times; and retail bidder portion - 0.98 times.
The objects of the issue were to utilise the proceeds of the fresh issue towards the purposes of a) Setting up an EMU manufacturing facility at Uttarpara unit; b) Modernising and expanding the existing facilities at Titagarh and Uttarpara units; c) Setting up an axle machining and wheelset assembly facility at Uttarpara unit; d) Constructing a corporate office and a design cum research and development office; e) Strategic acquisition or investments; f) Brand building exercise; and g) general corporate purposes.
The book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the co-book running lead manager is JM Financial Consultants Private Limited.
Source: Moneycontrol.com
Aishwarya Telecom IPO subscribed 0.67 times
The initial public offer of Aishwarya Telecom has subscribed 0.67 times, till 5 pm, as per NSE website. It has received bids for 26.79 lakh shares as against 40 lakh shares on offer. The price band is between Rs 32-35 per share. The issue will close for subscription on April 17, 2008.
Reservation to eligible employees is about 1,00,000 shares and hence the net issue to the public would be 39,00,000 equity shares.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures Test & Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc and not only in the manufacture of Optic Fiber Cable. In fact, Aishwarya Telecom is one of the important players in the T&M industry, which mainly supplies its products to major telecom operators.
Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Reservation to eligible employees is about 1,00,000 shares and hence the net issue to the public would be 39,00,000 equity shares.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures Test & Measurement Instruments like Mobile Tester, Fiber Optic Tester, Data Tester, Cable Fault Locator, etc and not only in the manufacture of Optic Fiber Cable. In fact, Aishwarya Telecom is one of the important players in the T&M industry, which mainly supplies its products to major telecom operators.
Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Tuesday, April 15, 2008
Aishwarya Telecom IPO opens for subscription
Aishwarya Telecom is open for subscription with an initial public offering of 52 lakh shares at a price band of Rs 32-35 per share. The issue will close for subscription on April 17, 2008.
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures telecom fiber optic products. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Aishwarya will use these proceeds to increase its manufacturing capabilities and infrastructure, fund research projects and for general corporate purposes.
Aishwarya Telecom manufactures telecom fiber optic products. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
SREI Capital Markets Ltd and Sobhagya Capital Options Ltd are managing the issue.
Source: Moneycontrol.com
Friday, April 11, 2008
Latest IPO Grey Market Premium Rates
| Company | Open/Close | Offer Price | Premium | Kostak Rates |
|---|---|---|---|---|
| Aishwarya Telecom Limited | 15 Apr - 17 Apr | 32 to 35 | ------- | ------- |
| Kiri Dyes & Chemicals Ltd | 25 Mar - 02 Apr | 125 to 150 | 10 to 11 | ------- |
| Titagarh Wagons Limited | 24 Mar - 27 Mar | 540 to 610 | 13 to 14 | ------- |
Thursday, April 10, 2008
SEBI to discuss revised IPO guidelines on Apr 16
Market regulator, Securities Exchange Board of India, SEBI will meet on April to discuss revised IPO guidelines, reports CNBC-TV18 quoting NW18.
Source: Moneycontrol.com
Source: Moneycontrol.com
Aishwarya Telecom IPO opens on Apr 15
Aishwarya Telecom is coming out with an initial public offering of 52 lakh shares at a price band of Rs 32-35 per share. The issue will open for subscription between April 15 and April 17, 2008.
Aishwarya Telecom manufactures telecom fiber optic products. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
Source: Moneycontrol.com
Aishwarya Telecom manufactures telecom fiber optic products. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.
The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators.
Source: Moneycontrol.com
Tuesday, April 8, 2008
CRISIL assigns IPO grade 2/5 to Shankara Pipes
CRISIL has come out with research report on Shankara Pipes India's IPO. It has assigned a CRISIL IPO Grade 2/5 to the company's IPO. The company proposes an IPO of 61,15,000 equity shares.
CRISIL report on Shankara Pipes India's IPO
CRISIL has assigned a CRISIL IPO Grade "2/5" to the proposed initial public offering of Shankara Pipes India (SPIL). This grade indicates that the fundamentals of the issue are below average, relative to other listed equity securities in India.
The grade reflects SPIL’s ability to grow to be a Rs 5 billion steel pipe and tube distribution company, having a strong foothold in South India. The management has demonstrated a good understanding of the Electronically Resistance Welded (ERW) segment within steel pipe and tube distribution, both in terms of supply arrangements with manufacturers and distribution set up.
Over the last few years, however, SPIL has seen a sharp increase in its working capital requirement, leading to the decision of re-modeling its business strategy by entering retail distribution and launching an e-portal. SPIL’s ability to carry forward the expertise of its old business model into these new areas remains to be seen. In addition, the company’s strategy of owning 16 out of the 35 new retail outlets, to be set up in 2008-09, will depress return on investment in the short run as compared to the competing strategies based on leased model.
The grading also reflects the potential conflict of interest that could arise from a promoter-owned entity, which carries out transportation activity for SPIL and another promoter company. Although more than 60 per cent of Shankara Cargo movers (SCM) revenues are from SPIL, the related party transaction constituted only 8.35 per cent of SPIL’s freight cost in 2006-07.
About the company and the issue:
For the year ended March 2007, the company reported a net profit of Rs 87 million on a turnover of Rs 5020.8 million vis-Ã -vis a net profit of Rs 69.2 million on a turnover of Rs 3462.6 million in 2005-06. SPIL, which began its retail foray in 2006-07 with 12 outlets, registered a turnover of Rs 380 million and an EBDITA margin of 10.0 per cent in 2006-07.
SPIL aims to raise between Rs 790 and 910 million through its proposed public issue of 61,15,000 equity shares.
Source: Moneycontrol.com
CRISIL report on Shankara Pipes India's IPO
CRISIL has assigned a CRISIL IPO Grade "2/5" to the proposed initial public offering of Shankara Pipes India (SPIL). This grade indicates that the fundamentals of the issue are below average, relative to other listed equity securities in India.
The grade reflects SPIL’s ability to grow to be a Rs 5 billion steel pipe and tube distribution company, having a strong foothold in South India. The management has demonstrated a good understanding of the Electronically Resistance Welded (ERW) segment within steel pipe and tube distribution, both in terms of supply arrangements with manufacturers and distribution set up.
Over the last few years, however, SPIL has seen a sharp increase in its working capital requirement, leading to the decision of re-modeling its business strategy by entering retail distribution and launching an e-portal. SPIL’s ability to carry forward the expertise of its old business model into these new areas remains to be seen. In addition, the company’s strategy of owning 16 out of the 35 new retail outlets, to be set up in 2008-09, will depress return on investment in the short run as compared to the competing strategies based on leased model.
The grading also reflects the potential conflict of interest that could arise from a promoter-owned entity, which carries out transportation activity for SPIL and another promoter company. Although more than 60 per cent of Shankara Cargo movers (SCM) revenues are from SPIL, the related party transaction constituted only 8.35 per cent of SPIL’s freight cost in 2006-07.
About the company and the issue:
For the year ended March 2007, the company reported a net profit of Rs 87 million on a turnover of Rs 5020.8 million vis-Ã -vis a net profit of Rs 69.2 million on a turnover of Rs 3462.6 million in 2005-06. SPIL, which began its retail foray in 2006-07 with 12 outlets, registered a turnover of Rs 380 million and an EBDITA margin of 10.0 per cent in 2006-07.
SPIL aims to raise between Rs 790 and 910 million through its proposed public issue of 61,15,000 equity shares.
Source: Moneycontrol.com
Sita Shree Food ends with 46% premium
A wheat and pulse processing company, Sita Shree Food Products, has hit an intraday high of Rs 46.65 before closing the day at Rs 43.90, up 46.33% over its offer price of Rs 30. It traded with volumes of 3,79,84,808 shares on the BSE.
Dinesh Agarwal, Managing Director of Sita Shree Food Products sees his company’s FY09 sales at Rs 175 - 200 crore. He estimates the company’s profits at Rs 4.5- 5 crore. Speaking to CNBC-TV18, Agarwal said that in FY09, 75% of their revenues would be through trading, and 25% through manufacturing.
The company is looking to increase exports significantly in FY09, Agarwal added.
On the NSE, the stock surged by 45.67% to settle at Rs 43.70. It traded with volumes of 3,53,54,825 shares and witnessed a turnover of Rs 153.22 crore. Sita Shree has touched a high/low of Rs 46.70 and Rs 33.95, respectively.
The company had entered capital market with an IPO of 1.16 crore equity shares of Rs 10 each. The issue was subscribed 2.44 times.
Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.
Source: Moneycontrol.com
Dinesh Agarwal, Managing Director of Sita Shree Food Products sees his company’s FY09 sales at Rs 175 - 200 crore. He estimates the company’s profits at Rs 4.5- 5 crore. Speaking to CNBC-TV18, Agarwal said that in FY09, 75% of their revenues would be through trading, and 25% through manufacturing.
The company is looking to increase exports significantly in FY09, Agarwal added.
On the NSE, the stock surged by 45.67% to settle at Rs 43.70. It traded with volumes of 3,53,54,825 shares and witnessed a turnover of Rs 153.22 crore. Sita Shree has touched a high/low of Rs 46.70 and Rs 33.95, respectively.
The company had entered capital market with an IPO of 1.16 crore equity shares of Rs 10 each. The issue was subscribed 2.44 times.
Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.
Source: Moneycontrol.com
Kiri Dyes fixes issue price at Rs 150/sh
Kiri Dyes & Chemicals, manufacturer of reactive dyes also known as Synthetic Organic and Dye Intermediates has fixed the issue price at Rs 150 per equity share for its IPO of 37,50,000 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The initial public offering was subscribed 1.43 times, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.
The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
The initial public offering was subscribed 1.43 times, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.
The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
Sunday, April 6, 2008
IndiaGiftsJunctoin.com - The Complete Gift Shop for Mother
Mother's Day which is celebrated every year on the second Sunday of May is an occasion when you express your affection and respect for your mother. It is the time which you can give your mother to pamper herself with all good things that she has been looking for.
In Hindu mythology also we have seen that mother has been given place of god, because she is
capable of handling all bad situations and keep you safe and secured.
In the
Mother's day is the day when you can give at least some portion of love and affection to her which she has been giving you through out these years.
What makes a perfect mother's day gift? What if you give your mother one day good break with a complete rest like she gets time to pamper herself by soaking herself in a hot tub or celebrates with her friend over for lunch or dinner?
You can gift your mother with gifts, flowers, chocolates, cakes, jewelry, apparels and other such gifts make the day more memorable.
Well no gift can match the love that she has given us, but still gifts are one medium that you can signify your love towards her. You can gift her gifts basket filled with all her favorite things, jewelry, fresh flowers, perfume, and personalized gifts or treat her by taking out at her favorite place.
If your mother treats you whole year with all the wonderful things that she can gives you then why not we give her at least one day to get pampered. By making her feel that she is the most important person in your life. She would feel happy and also respected. Why not make the mother's day the most memorable day in her life? Make her feel that she is the most important women of your life and that she is the one who has helped you in doing all that good things in your life that you have been till now.
Mother's day is soon arriving on the second Sunday of May! So, on this Mother's Day don't forget that special lady in your life – your "MOTHER".
http://www.indiagiftsjunction.com/shop/category/mothers_day_gifts
Thursday, April 3, 2008
Gammon Infra debuts with 8% premium
Gammon Infrastructure Projects (GIPL), an infrastructure project development company, has opened with a gain of 7.8% or Rs 13 at Rs 180 as against issue price of Rs 167 on the BSE. It has touched a low of Rs 149, which was 10.78% below issue price.
At 9:58 am, the share was trading at Rs 157, down 6%, with volumes of 4,68,033 shares.
On the NSE, the stock opened at Rs 170, and hit a high/low of Rs 185 and Rs 148.10, respectively. It was trading with volumes of 4,67,031 shares and turnover stood at Rs 7.28 crore.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
At 9:58 am, the share was trading at Rs 157, down 6%, with volumes of 4,68,033 shares.
On the NSE, the stock opened at Rs 170, and hit a high/low of Rs 185 and Rs 148.10, respectively. It was trading with volumes of 4,67,031 shares and turnover stood at Rs 7.28 crore.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Gammon Infra slips 5.3% below issue price
Gammon Infrastructure Projects (GIPL), an infrastructure project development company, closed at Rs 158.15, down by 5.30% or Rs 8.85 on the NSE as against the issue price of Rs 167. It opened at Rs 170, and touched an intraday high/low of Rs 185 and Rs 147, respectively.
The stock traded with volumes of 1,27,25,928 shares and the turnover was at Rs 202 crore.
In an interview with CNBC-TV18, Pervez Umrigar, MD, Gammon Infrastructure Projects Ltd said that they have 14 projects in their basket and they are awaiting the results for two more where they are preferred bidders. He added that their existing major projects include the Vizag Port project, the Paladi Bulk Port project and the NHI road project.
“Those are the main activities in front of us right now apart from the normal financial closures of our Mumbai Container terminal, our the Sikkim Hydro project and our first bio mass project in Punjab,” he added.
On the BSE the stock ended at Rs 157.90 with the volumes of 1,05,64,950. It has touched high/low of Rs 180 and Rs 147.60 respectively.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
The stock traded with volumes of 1,27,25,928 shares and the turnover was at Rs 202 crore.
In an interview with CNBC-TV18, Pervez Umrigar, MD, Gammon Infrastructure Projects Ltd said that they have 14 projects in their basket and they are awaiting the results for two more where they are preferred bidders. He added that their existing major projects include the Vizag Port project, the Paladi Bulk Port project and the NHI road project.
“Those are the main activities in front of us right now apart from the normal financial closures of our Mumbai Container terminal, our the Sikkim Hydro project and our first bio mass project in Punjab,” he added.
On the BSE the stock ended at Rs 157.90 with the volumes of 1,05,64,950. It has touched high/low of Rs 180 and Rs 147.60 respectively.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Sita Shree Food Products to list on April 7
Sita Shree Food Products will list on the bourses with equity shares on April 7, 2008. The issue price has been fixed at Rs 30 per share.
The company had entered capital market with an IPO of 1.16 crore equity shares of Rs 10 each. The issue was subscribed 2.44 times. Reserved portion of retail investors was subscribed over 4 times followed by non institutional investors's subscription of 3.25 times and QIBs over 1 time. The company has raised around Rs 34.8 crore.
The objects of the issue were to Finance the capital expenditure programs - setting up a Solvent Extraction Plant having 500TPD capacity, setting up a oil refinery for Solvent Extraction Plant having 100TPD capacity, setting up a Lecithin plant for processing the by products of Solvent Extraction Plant having 5TPD capacity at Badia Kima (M.P.) and setting up a Flour Mill of 275TPD. Other objects are to meet working capital margin requirement of the business, to meet the expenses of the issue and to enable listing of the equity shares of the company on the stock exchanges.
Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.
Lead manager to the issue is Keynote Corporate Services Limited and Ankit Consultancy Private Limited is the registrar.
Source: Moneycontrol.com
The company had entered capital market with an IPO of 1.16 crore equity shares of Rs 10 each. The issue was subscribed 2.44 times. Reserved portion of retail investors was subscribed over 4 times followed by non institutional investors's subscription of 3.25 times and QIBs over 1 time. The company has raised around Rs 34.8 crore.
The objects of the issue were to Finance the capital expenditure programs - setting up a Solvent Extraction Plant having 500TPD capacity, setting up a oil refinery for Solvent Extraction Plant having 100TPD capacity, setting up a Lecithin plant for processing the by products of Solvent Extraction Plant having 5TPD capacity at Badia Kima (M.P.) and setting up a Flour Mill of 275TPD. Other objects are to meet working capital margin requirement of the business, to meet the expenses of the issue and to enable listing of the equity shares of the company on the stock exchanges.
Sita Shree is in the business of wheat and pulse processing. The product portfolio of the company consists of wheat flour, maida, rawa, daliya, suji, chana dal etc. These products are marketed under its own brand like Sita Shree, Regular and Sita Shree Gold.
Lead manager to the issue is Keynote Corporate Services Limited and Ankit Consultancy Private Limited is the registrar.
Source: Moneycontrol.com
Wednesday, April 2, 2008
Grey Market Premium Rates Dt: 02th April 2008
Latest Grey Market Premium Rates
| Company | Open/Close | Offer Price | Premium | Kostak Rates |
|---|---|---|---|---|
| Kiri Dyes & Chemicals Ltd | 25 Mar - 02 Apr | 125 to 150 | 10 to 12 | ------- |
| Titagarh Wagons Limited | 24 Mar - 27 Mar | 540 to 610 | 14 to 15 | ------- |
| Sita Shree Food Products Limited | 11 Mar - 14 Mar | 27 to 30 | 3 to 4 | ------- |
| Gammon Infrastructure Projects Limited | 10 Mar - 13 Mar | 167 to 200 | Discount | ------- |
Gammon Infrastructure to list on April 3
Gammon Infrastructure Projects (GIPL), an infrastructure project development company, will list on the exchanges with its equity shares on April 3, 2008. The issue price has been fixed at Rs 167 for its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each for the above issue price determined through the 100% book building process.
The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The book running lead managers to the issue were IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited. The co-book running lead manager to the Issue was Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The book running lead managers to the issue were IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited. The co-book running lead manager to the Issue was Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Titagarh Wagons fixes issue price at Rs 540/share
Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings, has fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.
The issue closed on March 27, 2008, and was subscribed to 6.75 times based on the preliminary bidding data received from the stock exchanges on the closing day. The qualified institutional bidders portion was subscribed approximately 10.37 times; the non institutional bidder portion was subscribed approximately 2.77 times; and the retail bidder portion was subscribed approximately 0.98 times. The company proposes to list its equity shares on the Bombay Stock Exchange and the National Stock Exchange.
The issue comprises a fresh issue of 20,68,111 equity shares and an offer for sale of 3,15,657 equity shares by Mrs Rashmi Chowdhary and Strategic Ventures Fund (Mauritius) Limited (the selling shareholders). The issue consists of a net issue of 23,68,768 equity shares and a reservation of up to 15,000 equity shares for subscription by eligible employees. The net issue constitutes 12.8% of the post issue capital of the company.
The objects of the issue are to utilise the proceeds of the fresh issue towards the purposes of a) Setting up an EMU manufacturing facility at Uttarpara unit; b) Modernising and expanding the existing facilities at Titagarh and Uttarpara units; c) Setting up an axle machining and wheelset assembly facility at Uttarpara unit; d) Constructing a corporate office and a design cum research and development office; e) Strategic acquisition or investments; f) Brand building exercise; and g) general corporate purposes.
The Company is structured along three broad business lines: a) wagon manufacturing division, b) special projects division (includes defence, bailey bridges and other fabricated equipment) and c) heavy earth moving and mining equipment division.
The book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the co-book running lead manager is JM Financial Consultants Private Limited.
Source: Moneycontrol.com
The issue closed on March 27, 2008, and was subscribed to 6.75 times based on the preliminary bidding data received from the stock exchanges on the closing day. The qualified institutional bidders portion was subscribed approximately 10.37 times; the non institutional bidder portion was subscribed approximately 2.77 times; and the retail bidder portion was subscribed approximately 0.98 times. The company proposes to list its equity shares on the Bombay Stock Exchange and the National Stock Exchange.
The issue comprises a fresh issue of 20,68,111 equity shares and an offer for sale of 3,15,657 equity shares by Mrs Rashmi Chowdhary and Strategic Ventures Fund (Mauritius) Limited (the selling shareholders). The issue consists of a net issue of 23,68,768 equity shares and a reservation of up to 15,000 equity shares for subscription by eligible employees. The net issue constitutes 12.8% of the post issue capital of the company.
The objects of the issue are to utilise the proceeds of the fresh issue towards the purposes of a) Setting up an EMU manufacturing facility at Uttarpara unit; b) Modernising and expanding the existing facilities at Titagarh and Uttarpara units; c) Setting up an axle machining and wheelset assembly facility at Uttarpara unit; d) Constructing a corporate office and a design cum research and development office; e) Strategic acquisition or investments; f) Brand building exercise; and g) general corporate purposes.
The Company is structured along three broad business lines: a) wagon manufacturing division, b) special projects division (includes defence, bailey bridges and other fabricated equipment) and c) heavy earth moving and mining equipment division.
The book running lead manager to the issue is Kotak Mahindra Capital Company Limited and the co-book running lead manager is JM Financial Consultants Private Limited.
Source: Moneycontrol.com
Kiri Dyes and Chem IPO subscribed fully
The initial public offering of the Ahmedabad-based Kiri Dyes and Chemicals (KDCL), manufacturer and exporters of dyes and dyes intermediates, has subscribed 1.17 times, till 3 pm as per NSE website. The issue has received bids for 43.88 lakh shares as against shares on offer.
Qualified and non institutional buyers were supporters to the issue; their reserved portion subscribed by 0.92 times and 1.84 times, respectively, till yesterday.
The issue has opened for subscription with its IPO of 37.5 lakh equity shares of face value of Rs 10 each, to raise funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates. The price-band is between Rs 125 to Rs 150 per equity share.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
Qualified and non institutional buyers were supporters to the issue; their reserved portion subscribed by 0.92 times and 1.84 times, respectively, till yesterday.
The issue has opened for subscription with its IPO of 37.5 lakh equity shares of face value of Rs 10 each, to raise funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates. The price-band is between Rs 125 to Rs 150 per equity share.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.
Source: Moneycontrol.com
Tuesday, April 1, 2008
55% IPOs in FY08 slip below issue price
Markets are going through a rough phase hit by bad news since January 2008. First it was subprime crisis in US, which hammered banks heavily across the globe. Second was rupee appreciation, which continues for this year as well, technology and textile stocks knocked down. Third, Inflation, which crossed 6% mark again last week, which is above the RBI’s targeted 5% level. Due th which, chances of rate cut are far away, experts believe that RBI might even hike the CRR. Fourth, crude crossed USD 100 mark (touched USD 109 per barrel).
Due to this markets have seen a steep fall; the string of negative news has pulled down the Sensex below 15000 mark and Nifty below 4800.
Though the last two and half months were very weak period for the markets but overall financial year 2007-08 has been strong year. In the financial year 2007-08, Sensex surged 19% and Nifty up 23.2%.
CNX Midcap is the biggest gainer, up 28%, BSE Small Cap Index up 21%.
Amongst indices, BSE IT Index fell 28% followed by BSE Auto Index, which ws down 7.7%.
BSE Metal Index shot up by 64%, BSE Oil & Gas up 55% and BSE Cap Goods up 53%.
Reliance Energy is the top gainer, up 152%, JP Associates up 110% and L&T up 87% while TCS top loser, down 34%, Infosys down 29% and Wipro down 24%.
On the primary front, 86 stocks have listed in the financial year, more than 55% stocks are below their respective issue prices while the rest are above the issue price.
Amongst biggest name, Omaxe is down 33% and Edelweiss Capital slipped nearly 2%. However, Power Grid Corporation rose 88% above issue price, Mundra Port up 31%, DLF up 23% and REC up just 1%.
Four stocks are up more than 300% since listing. MIC Electronics is the top gainer with gain of 380.5% followed by Orbit Corp and Everonn Systems, which up 377.91% and 319%, respectively. However, IVR Prime, Porwal Auto and Manaksia are the top losers, down more than 63%.
Source: Moneycontrol.com
Due to this markets have seen a steep fall; the string of negative news has pulled down the Sensex below 15000 mark and Nifty below 4800.
Though the last two and half months were very weak period for the markets but overall financial year 2007-08 has been strong year. In the financial year 2007-08, Sensex surged 19% and Nifty up 23.2%.
CNX Midcap is the biggest gainer, up 28%, BSE Small Cap Index up 21%.
Amongst indices, BSE IT Index fell 28% followed by BSE Auto Index, which ws down 7.7%.
BSE Metal Index shot up by 64%, BSE Oil & Gas up 55% and BSE Cap Goods up 53%.
Reliance Energy is the top gainer, up 152%, JP Associates up 110% and L&T up 87% while TCS top loser, down 34%, Infosys down 29% and Wipro down 24%.
Name | 1-Apr-07 | 31-Mar-08 | % Gain / Loss |
| Reliance Energy | 495.15 | 1251.15 | 152.68 |
| Jaiprakash Associates | 107.74 | 226.6 | 110.32 |
| Larsen and Toubro | 1619.15 | 3024.8 | 86.81 |
| Bharat Heavy Electricals | 1130.38 | 2056.55 | 81.93 |
| Tata Steel | 397.36 | 693.15 | 74.44 |
| State Bank of India | 936.8 | 1598.85 | 70.67 |
| Reliance Industries | 1368.35 | 2264.5 | 65.49 |
| HDFC | 1520.35 | 2383.75 | 56.79 |
| HDFC Bank | 949.4 | 1319.95 | 39.03 |
| ITC | 150.4 | 206.35 | 37.20 |
| NTPC | 149.75 | 197 | 31.55 |
| Hindalco Industries | 130.3 | 164.75 | 26.44 |
| Ranbaxy Laboratories | 352.6 | 438.75 | 24.43 |
| Grasim Industries | 2091.25 | 2574.7 | 23.12 |
| Reliance Communications | 420 | 508.3 | 21.02 |
| Ambuja Cements | 106.7 | 121.05 | 13.45 |
| ACC | 734.65 | 826.1 | 12.45 |
| ONGC | 878.15 | 981.35 | 11.75 |
| Hindustan Unilever | 205.25 | 228.7 | 11.43 |
| Bharti Airtel | 763.2 | 826.1 | 8.24 |
| Maruti Suzuki India | 819.7 | 829.55 | 1.20 |
| Cipla | 235.7 | 219.75 | -6.77 |
| ICICI Bank | 853.1 | 770.1 | -9.73 |
| Mahindra and Mahindra | 780.15 | 695.65 | -10.83 |
| Tata Motors | 727.75 | 623.45 | -14.33 |
| Satyam Computer Services | 470.1 | 394.55 | -16.07 |
| Wipro | 558.35 | 425.3 | -23.83 |
| Infosys Technologies | 2012.6 | 1430.15 | -28.94 |
| Tata Consultancy Services | 1231.2 | 810.9 | -34.14 |
On the primary front, 86 stocks have listed in the financial year, more than 55% stocks are below their respective issue prices while the rest are above the issue price.
Amongst biggest name, Omaxe is down 33% and Edelweiss Capital slipped nearly 2%. However, Power Grid Corporation rose 88% above issue price, Mundra Port up 31%, DLF up 23% and REC up just 1%.
Four stocks are up more than 300% since listing. MIC Electronics is the top gainer with gain of 380.5% followed by Orbit Corp and Everonn Systems, which up 377.91% and 319%, respectively. However, IVR Prime, Porwal Auto and Manaksia are the top losers, down more than 63%.
Source: Moneycontrol.com
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