The IPO of EdServ Softsystems has received 51,49,000 bids as against issue size of 39,73,908 shares and got subscribed 1.30 times, as per NSE website data.
Qualified institutional, non-institutional and retail investors have helped the issue to get subscribed fully.
EdServ Softsystems, an e-learning company, had opened for subscription on February 5, 2009 with an initial public offering of 39.7 lakh equity shares of Rs 10 each. The shares are proposed to be listed on the BSE and NSE.
The price band for the issue is fixed between Rs 55 and Rs 60.
Source: Moneycontrol.com
Wednesday, February 11, 2009
Gemini Engi Fab withdraws IPO
Mumbai-based Gemini Engi Fab has called off its initial public offer on Monday, a day before its scheduled opening.
The Rs 44-crore issue was slated to open on Tuesday and close on Friday.
Poor response from qualified institutional buyers (QIB) is the main reason cited by he merchant banker for the cancellation of the issue.
Even a week ago, company officials and merchant bankers to the issue were confident that the issue would go through smoothly despite current dull market conditions. "It looks like as if the markets have stabilised at the moment and we have also priced the issue at a very decent level," Mr Sharad Rathi, Head-Marketing and Origination (Investment Banking), Almondz Global Securities (BRLM to the issue), had said at a press conference announcing the details of the issue last week.
The company had earlier postponed the issue by a month and a half and the price band was reduced substantially. "In the initial stages, QIBs showed interest in the IPO but now with the market tanking again they have backed out and they expect the markets to sink further," said an official with the merchant banker. He said that the company will enter the market at a later stage when things look better.
The company planned to issue 55 lakh equity shares at a price between Rs 75 and Rs 80.
The proceeds from the issue were to be used to part-finance the company's expansion plan of setting up a manufacturing workshop at Umbergaon in Gujarat. The proceeds were also to be utilised for the company's general corporate and issue expenses.
Up to 50 per cent of the issue was reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors.
EdServ on
Meanwhile, EdServ another company which announced its IPO said that it would go ahead with its issue which is scheduled to open on Friday. The company has good QIB support and the retail interest is also good. As of now the IPO is on, said an official with the merchant banker to the issue.
Market conditions have not changed, they are the same what they were a few months ago. Investors are still wary about investing in the primary market, said Mr Prithvi Haldea, Managing Director of Prime Database.
There has not been an IPO since last October. Gemini Engi-Fab would have been the first issue to hit the market in four months, reports The Hindu Business Line.
Source: Moneycontrol.com
The Rs 44-crore issue was slated to open on Tuesday and close on Friday.
Poor response from qualified institutional buyers (QIB) is the main reason cited by he merchant banker for the cancellation of the issue.
Even a week ago, company officials and merchant bankers to the issue were confident that the issue would go through smoothly despite current dull market conditions. "It looks like as if the markets have stabilised at the moment and we have also priced the issue at a very decent level," Mr Sharad Rathi, Head-Marketing and Origination (Investment Banking), Almondz Global Securities (BRLM to the issue), had said at a press conference announcing the details of the issue last week.
The company had earlier postponed the issue by a month and a half and the price band was reduced substantially. "In the initial stages, QIBs showed interest in the IPO but now with the market tanking again they have backed out and they expect the markets to sink further," said an official with the merchant banker. He said that the company will enter the market at a later stage when things look better.
The company planned to issue 55 lakh equity shares at a price between Rs 75 and Rs 80.
The proceeds from the issue were to be used to part-finance the company's expansion plan of setting up a manufacturing workshop at Umbergaon in Gujarat. The proceeds were also to be utilised for the company's general corporate and issue expenses.
Up to 50 per cent of the issue was reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors.
EdServ on
Meanwhile, EdServ another company which announced its IPO said that it would go ahead with its issue which is scheduled to open on Friday. The company has good QIB support and the retail interest is also good. As of now the IPO is on, said an official with the merchant banker to the issue.
Market conditions have not changed, they are the same what they were a few months ago. Investors are still wary about investing in the primary market, said Mr Prithvi Haldea, Managing Director of Prime Database.
There has not been an IPO since last October. Gemini Engi-Fab would have been the first issue to hit the market in four months, reports The Hindu Business Line.
Source: Moneycontrol.com
Wednesday, February 4, 2009
Ambanis up on Forbes' richest CEO list, Mittal slips
They have lost more than USD 13 billion from their combined wealth, but still the two Ambani brothers have moved higher on Forbes' latest list of the world's ten richest CEOs, while Sunil Mittal has joined the league and Lakshmi Mittal has slipped two places.
Legendary American investor Warren Buffett has retained his top position on the annual list, but Indian-born steel tycoon Lakshmi Mittal has been toppled from his last year's second position by software major Oracle chief Larry Ellison.
Mittal has moved down to fourth position, while Mukesh Ambani, the elder of the two warring brothers, has jumped three positions to grab third rank this year.
The younger Ambani, Anil, has also moved up one place to sixth rank on this year's 'Forbes list of ten wealthiest CEOs'.
While another Indian business chief, Azim Premji, has moved out of the top-ten list, compatriot Sunil Mittal of Bharti Airtel has joined the league at ninth position.
IT major Wipro Chairman Premji was ranked ninth on the previous year's list. The total number of Indians on the list has remained unchanged at four on this year's list.
"Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun -- but none of the stress -- out of running billion-dollar businesses," Forbes said.
Source: Yahoo.com
Legendary American investor Warren Buffett has retained his top position on the annual list, but Indian-born steel tycoon Lakshmi Mittal has been toppled from his last year's second position by software major Oracle chief Larry Ellison.
Mittal has moved down to fourth position, while Mukesh Ambani, the elder of the two warring brothers, has jumped three positions to grab third rank this year.
The younger Ambani, Anil, has also moved up one place to sixth rank on this year's 'Forbes list of ten wealthiest CEOs'.
While another Indian business chief, Azim Premji, has moved out of the top-ten list, compatriot Sunil Mittal of Bharti Airtel has joined the league at ninth position.
IT major Wipro Chairman Premji was ranked ninth on the previous year's list. The total number of Indians on the list has remained unchanged at four on this year's list.
"Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun -- but none of the stress -- out of running billion-dollar businesses," Forbes said.
Source: Yahoo.com
Sunday, February 1, 2009
Gemini Engi-Fab IPO opens on Feb 3
Gemini Engi-Fab is engaged in manufacturing and salvaging of process equipments through fabrication for various process industries namely, cement, dairy, refinery, pharmaceutical, petrochemical, power and chemical. Fabrication is building of machines, structures, or process equipment as required, by cutting, shaping and assembling components made from raw materials.
The company is an ISO 9001: 2000 certified company. In the year 2003, this certificate was awarded to design, manufacture and supply fabricated process equipments for food, dairy, cement, refinery, nuclear power projects, power projects & chemical projects on turnkey & salvaging basis.
The company proposes a public issue of 55 lakh equity shares of Rs 10 each for cash, which would constitute 46.40% of the fully diluted post issue paid-up capital of the company.
The issue will open on February 3, 2009 and close on February 6, 2009, with a price band of Rs 75 to Rs 80 per equity share.
The company will be raising around Rs 41.25-44 crore from this issue and will be using for setting up of a manufacturing workshop a Umbergaon, Gujarat.
CARE has assigned IPO grade 2 to this issue. Equity shares will be listed on the BSE and NSE.
Book running lead manager to the issue is Almondz Global Securities Limited and Karvy Computershare Private Limited is the registrar to the issue.
Courtesy: Moneycontrol.com
The company is an ISO 9001: 2000 certified company. In the year 2003, this certificate was awarded to design, manufacture and supply fabricated process equipments for food, dairy, cement, refinery, nuclear power projects, power projects & chemical projects on turnkey & salvaging basis.
The company proposes a public issue of 55 lakh equity shares of Rs 10 each for cash, which would constitute 46.40% of the fully diluted post issue paid-up capital of the company.
The issue will open on February 3, 2009 and close on February 6, 2009, with a price band of Rs 75 to Rs 80 per equity share.
The company will be raising around Rs 41.25-44 crore from this issue and will be using for setting up of a manufacturing workshop a Umbergaon, Gujarat.
CARE has assigned IPO grade 2 to this issue. Equity shares will be listed on the BSE and NSE.
Book running lead manager to the issue is Almondz Global Securities Limited and Karvy Computershare Private Limited is the registrar to the issue.
Courtesy: Moneycontrol.com
EdServ Softsystems plans IPO
EdServ Softsystems, an e-learning company, would be tapping the capital market with an initial public offering of 39.7 lakh equity shares of Rs 10 each. The shares are proposed to be listed on the BSE and NSE. The price will be decided through 100 per cent book-building process.
The price band for the issue is fixed between Rs 55 and Rs 60. Issue will open on February 5 and will close on February 9. The company plans to raise between Rs 23.8 crore and Rs 21.8 crore.
Post issue, the founder stake would come down to 29.5 per cent from 44.06 per cent, while Kalpathi Investments Pvt Ltd’s stake would be reduced to 31.08 per cent stake (46.46 per cent).
The earnings from the issue will be used for developing the copyrighted D2j content by HEADS Learning (HEAL) architecture, financing the cost for establishing the HEAL Lab to develop, test install, connect and implement D2J across all its HEAD offices and also to expand their HEADS offices across the country.
It will use the proceeds to fund its other expansion plans as well.
Qualified institutional buyers will be allotted 50 per cent of the issue, 15 per cent to non-institutional investors and the remaining 35 per cent will be allocated to retail investors. The company has reserved 2 lakh shares for employees.
The book running lead managers for the issue are Keynote Corporate Services and Ashika Capital, reports The Hindu Business Line.
Courtesy: Moneycontrol.com
The price band for the issue is fixed between Rs 55 and Rs 60. Issue will open on February 5 and will close on February 9. The company plans to raise between Rs 23.8 crore and Rs 21.8 crore.
Post issue, the founder stake would come down to 29.5 per cent from 44.06 per cent, while Kalpathi Investments Pvt Ltd’s stake would be reduced to 31.08 per cent stake (46.46 per cent).
The earnings from the issue will be used for developing the copyrighted D2j content by HEADS Learning (HEAL) architecture, financing the cost for establishing the HEAL Lab to develop, test install, connect and implement D2J across all its HEAD offices and also to expand their HEADS offices across the country.
It will use the proceeds to fund its other expansion plans as well.
Qualified institutional buyers will be allotted 50 per cent of the issue, 15 per cent to non-institutional investors and the remaining 35 per cent will be allocated to retail investors. The company has reserved 2 lakh shares for employees.
The book running lead managers for the issue are Keynote Corporate Services and Ashika Capital, reports The Hindu Business Line.
Courtesy: Moneycontrol.com
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