Reliance Power today filed the red herring prospectus (RHP) with the Registrar of Companies, Maharshtra, Mumbai (ROC), for its proposed initial public offering (IPO).
Reliance Power has fixed the price band for the IPO at Rs 405 - 450 per share.
To enable large participation by retail investors, Reliance Power will offer a discount of Rs 20 per share to the retail investors, i.e. approximately 5% of the issue price.
Reliance Power has also fixed convenient payment terms for all categories of investors. While QIBs are required to pay 10% on the application, the HNIs and retail investors will have the option to pay Rs 115 on the application, i.e. only approximately 25% of the issue price. The balance amount will be payable on allotment.
The IPO is scheduled to open on January 15, 2008 and will close on January 18, 2008.
Reliance Power, through this IPO proposes to raise approximately Rs 10,500 - 11,500 crores - the largest IPO in the history of the Indian capital markets. Reliance Power proposes to issue 26 crore equity shares of Rs 10 each including a promoters’ contribution of 3.2 crore Equity Shares which shall be allotted at the IPO price to the Promoters. The balance 22.8 crore equity shares would constitute the net issue to the public. The issue will constitute 11.5% and the net issue will constitute 10.1% of the post-Issue paid-up equity capital of Reliance Power.
Reliance Power is part of the Reliance Anil Dhirubhai Ambani group and is currently engaged in the construction and development of various gas and coal based thermal power projects and hydro power projects in various parts of the country, of over 28,000 MW capacity - the largest development pipeline in the country.
The issue proceeds are proposed to be utilized for funding subsidiaries to part-finance the construction and development costs of the various projects under development and for general corporate purposes.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, ABN AMRO Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities Private Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and J.P. Morgan India Private Limited are acting as the Book Running Lead Managers to the Issue whilst Macquarie India Advisory Services Private Limited and SBI Capital Markets Limited are acting as Co-Book Running Lead Managers. Amarchand & Mangaldas & Suresh A. Shroff & Co. is advising the Company whilst Cleary Gottlieb Steen & Hamilton and J. Sagar and Associates are advising the BRLMs and CBRLMs in relation to the issue.
Source: Moneycontrol.com
Thursday, January 3, 2008
Future Cap Holdings sets IPO price band at Rs 700-765/sh
Future Capital Holdings (FCHL), the financial services arm of the Future Group, has fixed the price band between Rs 700 and Rs 765 per equity share for its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The company has filed its red herring prospectus with the Registrar of Companies, Mumbai, and is expected to hit the capital market in mid-January 2008. The issue would constitute 10.16% of the post-issue paid-up capital of the company.
FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India) (the flagship company of the Future Group), its Managing Director Mr Kishore Biyani, and Mr Sameer Sain (a former Managing Director at Goldman Sachs International). One of the investors in the company is Och-Ziff, a prominent international fund.
FCHL's three primary lines of business are investment advisory services, retail financial services and research. Currently, the two main retail financial services products are consumption loans and personal loans. FCHL will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the "Future Card", a credit card offering loyalty points.
The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited.
Source: Moneycontrol.com
The company has filed its red herring prospectus with the Registrar of Companies, Mumbai, and is expected to hit the capital market in mid-January 2008. The issue would constitute 10.16% of the post-issue paid-up capital of the company.
FCHL was incorporated in 2005 and promoted by Pantaloon Retail (India) (the flagship company of the Future Group), its Managing Director Mr Kishore Biyani, and Mr Sameer Sain (a former Managing Director at Goldman Sachs International). One of the investors in the company is Och-Ziff, a prominent international fund.
FCHL's three primary lines of business are investment advisory services, retail financial services and research. Currently, the two main retail financial services products are consumption loans and personal loans. FCHL will also commence in the near future the distribution of financial products, including credit cards. It has entered into an agreement with ICICI Bank for marketing and distribution of the "Future Card", a credit card offering loyalty points.
The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited.
Source: Moneycontrol.com
Wednesday, January 2, 2008
Burnpur Cement may list around Rs 15-20
Burnpur Cement (BCL), one of the established cement manufacturers of Eastern India, will list on the bourses with equity shares on Thursday. The grey market premium is around Rs 8. Analysts expect the listing price around Rs 15-20 and advise profit booking.
R S Iyer of KR Choksey Securities said, "One can book profits in Burnpur Cement above Rs 15."
"Burnpur Cement is likely to get listed at Rs 20 as against the IPO price of Rs 12. Profit booking is advised in the stock at around the listing price", Investment Advisor, S P Tulsian said.
Manish Bhatt of Prabhudas Lilladher recommended holding the stock for short to medium term.
The company had offered its 219 lakh shares of Rs 10 each for cash at a premium of Rs 2 per share. The issue had subscribed 15.19 times.
As a part of its expansion plans, Burnpur Cement has proposed a backward integration by setting up an 800 TPD capacity Clinkerisation and Cement grinding unit expandable to 1,600 TPD at Patratu in the Hazaribagh District of Jharkhand for manufacturing Clinker, Ordinary Portland Cement (OPC), Portland Pozzolona Cement (PPC) and Portland Slag Cement (PSC).
Source: Moneycontrol.com
R S Iyer of KR Choksey Securities said, "One can book profits in Burnpur Cement above Rs 15."
"Burnpur Cement is likely to get listed at Rs 20 as against the IPO price of Rs 12. Profit booking is advised in the stock at around the listing price", Investment Advisor, S P Tulsian said.
Manish Bhatt of Prabhudas Lilladher recommended holding the stock for short to medium term.
The company had offered its 219 lakh shares of Rs 10 each for cash at a premium of Rs 2 per share. The issue had subscribed 15.19 times.
As a part of its expansion plans, Burnpur Cement has proposed a backward integration by setting up an 800 TPD capacity Clinkerisation and Cement grinding unit expandable to 1,600 TPD at Patratu in the Hazaribagh District of Jharkhand for manufacturing Clinker, Ordinary Portland Cement (OPC), Portland Pozzolona Cement (PPC) and Portland Slag Cement (PSC).
Source: Moneycontrol.com
Bumper listing expected for BGR Energy
BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, is expected to see fantastic listing on January 3, 2008. Grey market premium is around Rs 340-350 while analysts expect the stock may list above Rs 850 and advised to book profits.
"BGR Energy is likely to list around Rs 650-700. Above Rs 750, one can book profits", R S Iyer of KR Choksey Securities said.
According to Investment Advisor, S P Tulsian, "BGR Energy is likely to get listed at Rs 900 as against the IPO price of Rs 480. Profit booking is advised in the stock at around the listing price."
Manish Bhatt of Prabhudas Lilladher advised to hold the stock for medium to long term. It is an attractive bet.
The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website.
The company proposed to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.
Source: Moneycontrol.com
"BGR Energy is likely to list around Rs 650-700. Above Rs 750, one can book profits", R S Iyer of KR Choksey Securities said.
According to Investment Advisor, S P Tulsian, "BGR Energy is likely to get listed at Rs 900 as against the IPO price of Rs 480. Profit booking is advised in the stock at around the listing price."
Manish Bhatt of Prabhudas Lilladher advised to hold the stock for medium to long term. It is an attractive bet.
The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website.
The company proposed to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.
Source: Moneycontrol.com
Rel Power IPO gets final Sebi nod, to open Jan 15-18
Reliance Power IPO has obtained the final Sebi nod and will open between January 15-18, reports CNBC-TV18. Reliance Power will raise Rs 10,500- 11,500 crore via IPO. Reliance Power offers staggered payment option to retail investors.
Source: Moneycontrol.com
Source: Moneycontrol.com
Tuesday, January 1, 2008
BGR Energy Systems to list on Jan 3, 2008
After received fabulous response to its initial public offer, the BGR Energy Systems, a supplier of systems and equipment for the power, oil & gas, refinery, petrochemical and process industries, will list on the bourses on January 3, 2008.
The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website.
Qualified institutional investors have given strong support to the issue, their reserved portion subscribed 162 times followed by HNIs and retail with subscription of 153 times and 47 times respectively.
SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.
The company proposes to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
Source: Moneycontrol.com
The company had entered capital market with a public issue of 91.36 lakh equity shares of Rs 10 each. The price band was at Rs 425 to Rs 480 per equity share. The issue was subscribed 119.54 times, according to data available on NSE website.
Qualified institutional investors have given strong support to the issue, their reserved portion subscribed 162 times followed by HNIs and retail with subscription of 153 times and 47 times respectively.
SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, UBS Securities India Private Ltd and CLSA India Ltd are the book running lead managers for the Issue.
The company proposes to utilize the net proceeds of the issue to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
Source: Moneycontrol.com
Blockbuster IPOs: Orbit Corp, Everonn, MIC Electronics
2007 was a MALAMAAL year for investors and record-breaking year for markets. Sensex with a return of 47% outperformed most of the major Asian and other global markets. IPOs were not behind in this race and gave some bumper returns to the investors. Companies raised more than Rs 45,000 crore from capital markets in 2007, which was 80% more than the money raised in 2006.
FIIs were one of the key drivers for the growth shown by the secondary market as well as primary market. FIIs pumped in huge money and invested nearly USD 17 billion. FIIs flow in Indian markets was robust and is expected to remain strong in forthcoming years.
103 companies got listed in 2007, out of which 78 companies gave good returns while the rest remained below issue price. Wealth creators among IPOs had offered more than 250%-750% returns since their listing, which includes Orbit Corp, Everonn Systems, MIC Electronics, GBN, Allied Digital, Vishal Retail etc. Nearly 28 companies gave profits in a band of 100%-250%.
Orbit Corporation, real estate developer, was the star performer of the year, offered over 750% returns in 9 months. The company had raised over Rs 100 crore from its IPO of 91 lakh shares at a price of Rs 110 per share in April.
A fully integrated knowledge management, education and learning solutions company, Everonn Systems was the second topper in the gainers list. It gave hefty gains over 640% in just five months since listing. It had come out with a public issue of 35.71 lakh shares at a price band of Rs 125-140 per share and raised nearly Rs 50 crore.
MIC Electronics, a Hyderabad base player in Light Emitting Diode (LED) display systems, offered over 500% returns since listing in May 2007. The company garnered Rs 76.5 crore from capital markets by issuing 51 lakh shares at Rs 150 per share.
However, 23 companies were still below issue price in the year 2007, viz Broadcast Initiatives, House of Pearl, Vijayeswari, Orient Trimex etc.
Top IPO money collector of the year was DLF, India’s largest real estate company and fourth biggest company by market cap, which garnered more than Rs 9,100 crore and in FPOs, ICICI Bank, India’s second leading bank, mopped up over Rs 10,000 crore (including green shoe option).
Power Grid Corp, India’s major power distribution company, raised nearly Rs 3000 crore by issuing equity of 5,739 lakh shares at Rs 52 per share.
Source: Moneycontrol.com
FIIs were one of the key drivers for the growth shown by the secondary market as well as primary market. FIIs pumped in huge money and invested nearly USD 17 billion. FIIs flow in Indian markets was robust and is expected to remain strong in forthcoming years.
103 companies got listed in 2007, out of which 78 companies gave good returns while the rest remained below issue price. Wealth creators among IPOs had offered more than 250%-750% returns since their listing, which includes Orbit Corp, Everonn Systems, MIC Electronics, GBN, Allied Digital, Vishal Retail etc. Nearly 28 companies gave profits in a band of 100%-250%.
Orbit Corporation, real estate developer, was the star performer of the year, offered over 750% returns in 9 months. The company had raised over Rs 100 crore from its IPO of 91 lakh shares at a price of Rs 110 per share in April.
A fully integrated knowledge management, education and learning solutions company, Everonn Systems was the second topper in the gainers list. It gave hefty gains over 640% in just five months since listing. It had come out with a public issue of 35.71 lakh shares at a price band of Rs 125-140 per share and raised nearly Rs 50 crore.
MIC Electronics, a Hyderabad base player in Light Emitting Diode (LED) display systems, offered over 500% returns since listing in May 2007. The company garnered Rs 76.5 crore from capital markets by issuing 51 lakh shares at Rs 150 per share.
However, 23 companies were still below issue price in the year 2007, viz Broadcast Initiatives, House of Pearl, Vijayeswari, Orient Trimex etc.
Top IPO money collector of the year was DLF, India’s largest real estate company and fourth biggest company by market cap, which garnered more than Rs 9,100 crore and in FPOs, ICICI Bank, India’s second leading bank, mopped up over Rs 10,000 crore (including green shoe option).
Power Grid Corp, India’s major power distribution company, raised nearly Rs 3000 crore by issuing equity of 5,739 lakh shares at Rs 52 per share.
Source: Moneycontrol.com
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