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
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