Mahindra Holidays IPO receives bids for 9.02 crore shares as against 92.65 lakh shares on offer.
Mahindra Holidays & Resorts India initial public offer was subscribed 9.74 times on the last day of subscription today as per the data on NSE website at 17:00 IST. The issue which opened for subscription on 23 June 2009 got bids for 9.02 crore shares as against 92.65 lakh shares on offer.
The company's 92.65 lakh public issue represents 11% of the post-issue paid up capital. The Mahindra Holidays IPO price band is Rs 275-Rs 325.
Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.
The Mahindra Holidays IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.
Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.
The company's net profit fell 5% to Rs 79.80 crore on 11% rise in sales to Rs 393.19 crore in the year ended March 2009 over the year ended March 2008.
Source: CapitalMarket.com
Saturday, June 27, 2009
Thursday, June 25, 2009
Adani Power IPO to hit markets on 20th July
SEBI has given green signal to Adani Power Limited’s initial public offer (IPO). The company is expected to hit the capital market on 20th July. APL, which had postponed its IPO due to bad market condition in September 2008, is now planning to raise over Rs 3,000 crore for financing its 6600 MW power plants at Mundra and Tiroda in Gujarat and Maharashtra respectively.As per the plan, Adani Power Limited is offering 33.77 crore equity shares through the IPO. The company is expected to charge a premium of around Rs 120 per share of Rs 10, sources familiar with the situation said.
At present, the promoters hold 87 per cent equity in the company. Post IPO, the promoters will have around 73.5 per cent holding as it is raising an additional 15 per cent equity through IPO. It may be pointed out that a UK based private equity fund has already picked up 8 per cent equity in the company.
Source: greymarket.in
Mahindra Holidays IPO subscribed 0.86 times
Mahindra Holidays and Resorts India (MHRIL), a part of the Mahindra Group, opened for subscrption with an initial public offering (IPO) of 92,65,275 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The issue was subscribed 0.86 times, till 5 pm on June 25 - the third day - as per the data available on the NSE website.Mahindra Holidays IPO has received bids for 79,58,540 shares as against issue size of 92,65,275 shares.
Qualified institutional investors gave good response to the issue compared to retail and domestic institutional investors; their portion subscribed 0.63 times, till June 24.
The bid/ issue will close on June 26, 2009. The Mahindra Holidays IPO price band has been fixed at Rs 275-325 per share. The size of the issue stands Rs 301 crore at the upper end of the price band and Rs 255 crore at the lower end of the band. M&M (Mahindra and Mahindra) will raise Rs 90.7-123 crore from the sale of 33 lakh shares and it will hold 83% of the Mahindra Holidays post issue.
The issue comprises a fresh issue of 58,96,084 equity shares and an offer for sale of 33,69,191 equity shares by Mahindra and Mahindra (the "selling shareholder"). The issue would constitute 11.0% of the fully diluted post-issue paid-up capital of the company.
The proceeds from MHRIL's proposed issue are expected to be deployed in the setting up of new projects and expansion of some of the existing resorts, to provide a larger range of resorts, and hence a wider choice of holiday destinations to members.
The global coordinator and book running lead manager (BRLM) is Kotak Mahindra Capital Company Limited. HSBC Securities & Capital Markets (India) Private Limited and SBI Capital Markets are the BRLMs. The equity shares are proposed to be listed on the Nationa
Source: MoneyControl.com
Rishabhdev Technocables IPO to list on June 29
After receiving fabulous response to the follow-on public offer (FPO), Rishabhdev Technocables will list its equity shares on the BSE on June 29, 2009. It has been fixed its FPO issue price at Rs 33 a share (including Rs 23 premium) and raised over Rs 29.70 crore.
The Rishabhdev Technocables IPO had opened for subscription between June 4 and June 9, 2009. It was subscribed 7.76 times, as per data available on the NSE website.
Rishabhdev Technocables is specialized, controlled and power cables manufacturer promoted by Sunil Golchha. The funds are being raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa. Machinery for this plant has been ordered and the plant is expected to go on stream by the end of the year.
The company currently has two units in Daman, one for specialized cables and the other for controlled cables and smaller size power cables. Additional facilities are being added to both units to make them more cost efficient. The Company has a blue-chip clientele which includes Tata Power, Grasim, Reliance, Essar, Siemens, Sanghi, Alok Industries and Welspun, among others.
Its shares are currently listed on the Pune and Jaipur stock exchanges and the company now proposed to list on Bombay Stock Exchange.
The book running lead managers were IDBI Capital Market Services and PL Capital Markets Pvt. Ltd. while the co-book running lead manager was Ashika Capital Ltd.
Source: MoneyControl.com
The Rishabhdev Technocables IPO had opened for subscription between June 4 and June 9, 2009. It was subscribed 7.76 times, as per data available on the NSE website.
Rishabhdev Technocables is specialized, controlled and power cables manufacturer promoted by Sunil Golchha. The funds are being raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa. Machinery for this plant has been ordered and the plant is expected to go on stream by the end of the year.
The company currently has two units in Daman, one for specialized cables and the other for controlled cables and smaller size power cables. Additional facilities are being added to both units to make them more cost efficient. The Company has a blue-chip clientele which includes Tata Power, Grasim, Reliance, Essar, Siemens, Sanghi, Alok Industries and Welspun, among others.
Its shares are currently listed on the Pune and Jaipur stock exchanges and the company now proposed to list on Bombay Stock Exchange.
The book running lead managers were IDBI Capital Market Services and PL Capital Markets Pvt. Ltd. while the co-book running lead manager was Ashika Capital Ltd.
Source: MoneyControl.com
Wednesday, June 24, 2009
Subscribe to Mahindra Holidays IPO: Angel Broking
Angel Broking has come out with its research report on Mahindra Holidays and Resorts India's initial public offering (IPO). Mahindra Holidays has opened for subscription with an IPO of 92,65,275 equity shares of Rs 10 each, at a price band of Rs 275-325 a share. The issue will close on June 26, 2009. The research firm has recommended investors to subscribe the issue albeit at the lower end of the price band.
Angel's report on Mahindra Holidays’ IPO:
Through this IPO, which also involves an offer for sale by the promoter company M&M, MHRIL intends to finance expansion of its resorts in Coorg, Ooty and Ashtamudi, and for setting up new ones in Tungi and Theog. However, MHRIL is being priced at a ‘considerable’ premium to the other listed hospitality players, who already have premium properties. Nonetheless, we believe that the good reputation enjoyed by the promoter group, justifies the premium valuation for the company to an extent, and hence we expect the IPO to be received well in the primary market. Also, in a pre-IPO placement that was done in February 2008, State Bank of India (SBI) and Jacob Ballas picked up 3% stake in the company at Rs 479 per share, which had valued MHRIL at USD1billion.
On the lower and upper end of the IPO price band, the stock would quote at 15.2x and 17.9x its post diluted FY2011E Earnings. On the basis of our workings on profits earned per member, we have arrived at a value of Rs 2,494 crore for the business, which translates into a per share value of Rs 296. Hence, we recommend a Subscribe on the IPO albeit at the lower end of the price band. Assumptions in our model: 1) Average revenue per member of Rs 2,25,000; 2) Estimated capex of Rs 34,200 to be made per member addition; 3) Marketing costs of Rs 75,000 per new member, and 4) Cost of providing service for the next 25 years Rs 63,925 per new member.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol.com
Angel's report on Mahindra Holidays’ IPO:
Through this IPO, which also involves an offer for sale by the promoter company M&M, MHRIL intends to finance expansion of its resorts in Coorg, Ooty and Ashtamudi, and for setting up new ones in Tungi and Theog. However, MHRIL is being priced at a ‘considerable’ premium to the other listed hospitality players, who already have premium properties. Nonetheless, we believe that the good reputation enjoyed by the promoter group, justifies the premium valuation for the company to an extent, and hence we expect the IPO to be received well in the primary market. Also, in a pre-IPO placement that was done in February 2008, State Bank of India (SBI) and Jacob Ballas picked up 3% stake in the company at Rs 479 per share, which had valued MHRIL at USD1billion.
On the lower and upper end of the IPO price band, the stock would quote at 15.2x and 17.9x its post diluted FY2011E Earnings. On the basis of our workings on profits earned per member, we have arrived at a value of Rs 2,494 crore for the business, which translates into a per share value of Rs 296. Hence, we recommend a Subscribe on the IPO albeit at the lower end of the price band. Assumptions in our model: 1) Average revenue per member of Rs 2,25,000; 2) Estimated capex of Rs 34,200 to be made per member addition; 3) Marketing costs of Rs 75,000 per new member, and 4) Cost of providing service for the next 25 years Rs 63,925 per new member.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol.com
Mahindra Holidays IPO subscribed 0.40 times by day two
Receives bids for 36.93 lakh shares as against 92.65 lakh shares on offer
Mahindra Holidays & Resorts India initial public offer (IPO) saw modest response on day two. It was subscribed by 0.40 times (by 16:00 IST). The issue which opened for subscription on 23 June 2009 got bids for 36.93 lakh shares as against 92.65 lakh shares on offer.
The company's 92.65 lakh public issue representing 11% of the post-issue paid up capital will remain open till 26 June 2009.
The IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.
Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.
Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.
Source: CapitalMarket.com
Mahindra Holidays & Resorts India initial public offer (IPO) saw modest response on day two. It was subscribed by 0.40 times (by 16:00 IST). The issue which opened for subscription on 23 June 2009 got bids for 36.93 lakh shares as against 92.65 lakh shares on offer.
The company's 92.65 lakh public issue representing 11% of the post-issue paid up capital will remain open till 26 June 2009.
The IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.
Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.
Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.
Source: CapitalMarket.com
Tuesday, June 23, 2009
Mahindra Holidays IPO sees dismal response on day one
Mahindra Holidays IPO receives bids for 4.11 lakh shares as against 92.65 lakh shares on offer.Mahindra Holidays & Resorts India got poor response for its initial public offer (IPO) on day one. The issue which opened for subscription today, 23 June 2009 got bids for 4.11 lakh shares (by 16:00 IST) as against 92.65 lakh shares on offer.
The company's 92.65 lakh public issue representing 11% of the post-issue paid up capital will remain open till 26 June 2009.
The Mahindra Holidays IPO proceeds will be utilised in expanding current properties and adding five new properties at Kumbalgarh in Rajasthan, Kadambakkam in Tamil Nadu, Binsar in Uttaranchal, Theog in Himachal Pradesh, and Tungi in Maharashtra.
Mahindra Holidays & Resorts India, a unit of Mahindra & Mahindra, had raised nearly Rs 120 crore by selling 2% stake to State Bank of India and 1% stake to Jacob Ballas India Fund in February 2008. The transaction had taken place at Rs 479 a share.
Mahindra Holidays & Resorts India runs the shared vacation home business, Club Mahindra Holidays. India's largest tractor maker by sales Mahindra & Mahindra holds 93.64% in the company.
Source: CapitalMarket.com
Rishabhdev Technocable IPO Allotment Is Now Available
Rishabhdev Technocable IPO Allotment is out now, please visit below link to check Allotment status - http://www.mondkarcomputers.com/ipo.asp
Rishabhdev Technocable IPO Grey Market Premium is Rs. 5/- to Rs. 7/-
Rishabhdev Technocable IPO Grey Market Premium is Rs. 5/- to Rs. 7/-
Saturday, June 13, 2009
Adani Power IPO Likely to Open in July 2009
Adani Power's initial public offer (IPO) is likely to open in July, 2009, said the Group Executive. "The IPO is likely at about Rs 120 per share," reports CNBC-TV18.
Adani Power, a part of the the Adani Group, filed draft red herring prospectus (DRHP) with market regulator SEBI for IPO of 33.7 crore equity shares. The issue includes a reservation of up to 8,000,000 shares. Equity shares outstanding post issue would be 2,18,00,35,200.
It is a power project development company, which is developing, and will operate and maintain, power projects in India. It has four thermal power projects under various stages of development, with a combined installed capacity of 6,600 MW. In addition, it is also planning to develop two power projects with a combined installed capacity of 3,300 MW.
The company is going to utilize the issue proceeds - to part finance the construction and development of Mundra Phase IV Power Project, for 1,980 MW; funding equity contribution in subsidiary Adani Power Maharashtra Limited and to part finance the construction and development cost of power project for 1,980 MW at Tiroda, Maharashtra; and General corporate purposes.
The company has made preferential allotment to Ventura Power at Rs 70 a share. This placement price values the company at Rs 15,260 crore post IPO.
Adani Enterprise, promoter will hold 70.25% stake in the company post IPO.
Global coordinator and book running lead manager to the issue is DSP Merrill Lynch Limited and Registrar to the issue is Karvy Computershare Private Limited.
Source: Moneycontrol.com
Adani Power, a part of the the Adani Group, filed draft red herring prospectus (DRHP) with market regulator SEBI for IPO of 33.7 crore equity shares. The issue includes a reservation of up to 8,000,000 shares. Equity shares outstanding post issue would be 2,18,00,35,200.
It is a power project development company, which is developing, and will operate and maintain, power projects in India. It has four thermal power projects under various stages of development, with a combined installed capacity of 6,600 MW. In addition, it is also planning to develop two power projects with a combined installed capacity of 3,300 MW.
The company is going to utilize the issue proceeds - to part finance the construction and development of Mundra Phase IV Power Project, for 1,980 MW; funding equity contribution in subsidiary Adani Power Maharashtra Limited and to part finance the construction and development cost of power project for 1,980 MW at Tiroda, Maharashtra; and General corporate purposes.
The company has made preferential allotment to Ventura Power at Rs 70 a share. This placement price values the company at Rs 15,260 crore post IPO.
Adani Enterprise, promoter will hold 70.25% stake in the company post IPO.
Global coordinator and book running lead manager to the issue is DSP Merrill Lynch Limited and Registrar to the issue is Karvy Computershare Private Limited.
Source: Moneycontrol.com
Thursday, June 4, 2009
Rishabhdev Technocables IPO receives poor response on day one
Follow on public offer was subscribed meager 0.13 times on day one.
Rishabhdev Technocables' follow-on public offer aggregating around Rs 30 crore saw a poor response on day one. The issue got bids for just 9.11 lakh shares (at 16:00 IST). The issue was subscribed just 0.13% of the total issue size. The issue closes on 9 June 2009. This is the first public offer to hit the market in nearly three months and has a firm underwriting arrangement.
The company is issuing 90 lakh equity shares of Rs 10 each for cash at a price to be decided through 100% book building process. The net offer to the public will comprise of 68.54 lakh equity shares aggregating around Rs 23 crore. The promoters are subscribing to 21.45 lakh equity shares at the issue price.
The price band is fixed between Rs 29 and Rs 33 a share.
Rishabhdev Technocables is specialized, controlled and power cables manufacturer promoted by Sunil Golchha. The funds are being raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa. Machinery for this plant has been ordered and the plant is expected to go on stream by the end of the year.
Rishabhdev Technocables currently has two units in Daman, one for specialized cables and the other for controlled cables and smaller size power cables. Additional facilities are being added to both units to make them more cost efficient. The Company has a blue-chip clientele which includes Tata Power, Grasim, Reliance, Essar, Siemens, Sanghi, Alok Industries and Welspun, among others.
Its shares are currently listed on the Pune and Jaipur stock exchanges and the company now proposes to list on Bombay Stock Exchange.
Source: CapitalMarket.com
Rishabhdev Technocables' follow-on public offer aggregating around Rs 30 crore saw a poor response on day one. The issue got bids for just 9.11 lakh shares (at 16:00 IST). The issue was subscribed just 0.13% of the total issue size. The issue closes on 9 June 2009. This is the first public offer to hit the market in nearly three months and has a firm underwriting arrangement.
The company is issuing 90 lakh equity shares of Rs 10 each for cash at a price to be decided through 100% book building process. The net offer to the public will comprise of 68.54 lakh equity shares aggregating around Rs 23 crore. The promoters are subscribing to 21.45 lakh equity shares at the issue price.
The price band is fixed between Rs 29 and Rs 33 a share.
Rishabhdev Technocables is specialized, controlled and power cables manufacturer promoted by Sunil Golchha. The funds are being raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa. Machinery for this plant has been ordered and the plant is expected to go on stream by the end of the year.
Rishabhdev Technocables currently has two units in Daman, one for specialized cables and the other for controlled cables and smaller size power cables. Additional facilities are being added to both units to make them more cost efficient. The Company has a blue-chip clientele which includes Tata Power, Grasim, Reliance, Essar, Siemens, Sanghi, Alok Industries and Welspun, among others.
Its shares are currently listed on the Pune and Jaipur stock exchanges and the company now proposes to list on Bombay Stock Exchange.
Source: CapitalMarket.com
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