IPO Update

Government to scrutinize IPO's of listed companies

Government to scrutinize IPO's of listed companiesIn a bid to discourage 'fraudulent siphoning' or diversion of funds in corporate sector, the government and capital market regulator has decided to scrutinize money raised through initial public offers (IPOs) during the period between 2004 and 2007.

Fund Collection Through IPOs, FPOs Hits New 5-Year Low

IndiaFollowing the poor show by public offers and low-investor sentiment in the stock market, various companies in country raised just Rs 16,927 crores through initial public offers (IPOs) and follow-on public offers (FPOs).

It represents 63% decline in fund collection as compared to Rs 45,137 crore collected last year according to the report of research firm, Prime Database. Many companies have dropped idea to raise funds through public offer due to poor response from investors.

Alkali Metals Debuts At 13% Discount On BSE

Alkali Metals Debuts At 13% Discount On BSEAlkali Metals, engaged in the business of manufacturing a range of fine chemicals, has got listed on the Bombay Stock Exchange (BSE) at a discount of 12.62% at Rs 90 as against its issue price of Rs 103.
 
The stock is assigned the scrip code 533029 and is placed in the `B` group on BSE.

At 10.04 a.m. on the BSE, the scrip was trading at Rs 122.50, up 18.93%, and about 357,466 shares got traded within minutes of its listing. The scrip also touched a high of Rs 137.70 and a low of Rs 90.

Midvalley files DRHP with SEBI to enter capital market

SEBIChennai based Midvalley Entertainment, has filed a draft red herring prospectus (DRHP) with SEBI, to enter into the capital market with a public issue of 1.71 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue also comprises a reservation of 3 lakh equity shares for permanent employees, thus bringing the net issue to 1.68 crore equity shares of Rs 10 each. The net issue will constitute 39.30% of the fully diluted post issue paid-up capital of the company.

20 Microns Lists At Rs 80 On NSE

The equity shares of India’s largest white minerals producer, 20 Microns 20 Microns Lists At Rs 80 On NSE(20ML) got listed at Rs 80 on the National Stock Exchange (NSE), a premium of 45.45% from its issue price of Rs 55.

After listing with good premium, the scrip slipped downward.

At 9.55 a.m., the share of the company was trading at Rs 50 on the NSE at a discount of 9.09% to its issue price. The share hit an intraday high of Rs 80 and an intraday low of Rs 46. The total traded quantity stood at 66070 shares and turnover was Rs 36.11 lakh.

Gujarat Pipavav files DRHP with SEBI for 500 crore IPO

Gujarat Pipavav files DRHP with SEBI for 500 crore IPO Gujarat Pipavav Port Limited, the developer and operator of Pipavav port, the country’s first private sector port, has finally filed its Draft Red Herring Prospectus (DRHP) with market regulator (SEBI) for an Initial Public Offering aggregating to Rs 500 crore for cash at a price to be decided through a 100% book-building process.

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