IPO Update

IPO price band of Ashoka Buildcon decided at Rs 297-324 per share

IPO price band of Ashoka Buildcon decided at Rs 297-324 per shareThe report statement is that the subscriptions to the IPO will start on Sept. 24 and will conclude on Sept. 28. Real estate developer Ashoka Buildcon has setup a price band of Rs297-324 per share for its Rs2.25 billion initial public offer (IPO), as per the report. The statement confined that the subscriptions to the IPO will commence on Sept. 24 and conclude on Sept. 28.

Microsec to focus on expansion from IPO

Microsec to focus on expansion from IPO While the IPO of Microsec Financial Services will close tomorrow, the good news for the company is that it has already been subscribed fully and the company plans to use the proceeds collected from the process to expand its lending business in the country.

BL Mittal, Chairman, Microsec has recently said that the company is very much open to the option of acquisitions and it is looking at both organic and inorganic growth both in the broking and financing activities. The company has also said that it will be investing close to Rs. 120 crore for the organic growth options.

SKS Microfinance fixes price band for IPO

SKS Microfinance fixes price band for IPOHyderabad-based SKS Microfinance, announced a price band of Rs. 850-995 for its upcoming Initial Public Offer (IPO) that will open for subscription on Wednesday, July, 28, 2010.

HMVL’s Rs 270 Crore IPO To Hit Market On July 5

HMVL’s Rs 270 Crore IPO To Hit Market On July 5Aimed at fulfilling its growth plans and clearing arrears, Hindustan Media Ventures Ltd (HMVL), which publishes the third largest Hindi daily in the country 'Hindustan', declared that it will launch its initial public offer (IPO) of Rs 270 crore on July 5.

The IPO offer will close on July 7.

Mr. Piyush Gupta, the CFO of HT Media Ltd which is the promoter of HMVL, said that the price band for each equity share of Rs 10 has been fixed between Rs 162 and Rs 175.

The floor price is 16.2 times of the face value and the cap price is 17.5 times of the face value.

SJVN IPO fully subscribed on last day

SJVN-LIMITEDOn Monday, the initial public offer (IPO) made by SJVN Ltd. was fully covered. It was the last day of opening for the public issue through which the power company wants to raise $240 million.

SJVN Ltd. is into the business of hydro power and wants the money so that it can fund its expansion plans.

Most of the last minute subscription was done by the state investors, who want to take part in the over whelming opportunity that the power sector offers.

Government forms panel for Coal India IPO

Coal India is going to launch its initial public offer by the month of July-August this year. The Government of India has formed a panel to carry forward the proposal. The panel will carry members from the ministry. The Coal India has been investing Rs 12,000-crore for its disinvestment program.

According to sources, the ministerial Group comprises of Coal Secretary, Disinvestment Secretary and eight other officials from different ministries.

The prime responsibility of the panel will be to select the book runners-cum-lead managers (BRLMs) to manage the initial public offer (IPO). As Coal India is the largest producer of coal in India it will be a huge task to finalize the IPO related issues soon.

Many real estate cos. looking to launch IPOs

Many real estate cos. looking to launch IPOsWith the real estate market getting improved by day on the back of the rising demand and improving consumer sentiment, many realty players in the industry are now aiming to launch IPOs in the finance market.

It is estimated that about 15 mid-and-large realty companies are looking to knock the door of the capital market to infuse more liquidity into their company.

IPO of DQ Entertainment receives 86 times subscription

 DQ Entertainment The Initial Public Offering of DQ Entertainment got a good response from the investors. According to the NSE, the IPO, which closed today, got subscribed around 86 times. DQ Entertainment is one of the leading companies in animation business in India.

The company has entered into capital market entailing the public issue of 16 million shares at the face value of Rs 10 each in its bounty.

United Bank IPO opens for subscription, plans to raise Rs.330 crore

United Bank IPO opens for subscription, plans to raise Rs.330 croreUnited Bank of India's initial public offering (IPO) opened for subscriptions today. It is part of the bank's plan to raise Rs. 830 crore. Out of this, Rs. 500 crore will be through government aid, while the rest Rs. 330 crore is expected to come from the IPO.

While the government aid will be made available by the end of March, the IPO will be closed on Feb 25, 2010.

UBI Staff Protests IPO

UBI Staff Protests IPOApproximately 7,500 staff members of the United Bank of India (UBI) Tuesday struck work to protest the bank's IPO.

According to the reports, UBI is disinvesting 15.8% of its stake.

UBI Employees Union (UBIEU) general secretary Sukhomoy Sarkar said, "Till now the strike is very successful. Around 1,100-1,200 branches of the bank across the country were completely shut down."

The public sector banking institution runs 1,507 divisions across the country.

Coal India IPO Set For August

Coal India IPO Set For AugustCoal India Ltd - is likely to come out with its Initial Public Offer (IPO) of shares by August this year, a company functionary said.

After meeting SEBI officials in Mumbai, Partha S. Bhattacharyya, Coal India Chairman, stated, "We discussed the tentative timeline with SEBI (Securities and Exchange Board of India) Friday."

Mr. Partha added that the Draft Red Herring Prospectus would be registered by June.

The issue of giving shares to employees was also discussed and settled during the conference.

Man Infraconstruction IPO welcomed by Investor, registers 3 times subscription

IPOOwing to a positive vibe in the market and an expected decent budget hearing that is approaching, the fresh IPO of Man Infraconstruction Ltd. Has received a positive response from the market. Earlier a lot of analysts were quoted saying that the IPO was a good one if people were looking for a long term investment.

The IPO of MIL got a great response on day one of its opening and was over-subscribed by 3.10 times. Institutional and Non-institutional investors seemed to be supporting the new IPO.

UBI IPO price band is likely to be Rs.60-66

UBI IPO price band is likely to be Rs.60-66Public sector bank United Bank of India (UBI) clarified on Thursday that the price band for its upcoming public offer would have a price band of Rs. 60-66. The bank is expecting to raise Rs. 350 crore from the issue that would end up diluting government's stake to 84.2 per cent from existing 100 per cent.

Scheduled to open on February 23 and close on February 25, the issue offers five crore equity shares for taking. Retail investors would be issued at five per cent discount on the issue price.

Hathway IPO opens for subscription on February 9

HathwayHathway Cable & Datacom Ltd has announced that its initial public offering will open for subscription on February 9. The issue involves 2.7 crore shares at a face value of Rs 10 each.

The Rajan Raheja Group promoted, Hathway was established in 1995 and is now a leading cable television services provider in India with presence in over 125 cities across the country. The company also provides high-end cable broadband services in 18 cities. Its subscriber base touched 3,22,000 in the December 2009 quarter.

UCO Bank to go for FPO

UCO BankAfter three years, when the Indian public sector bank, UCO Bank came up with its IPO; it is ready again to sell its stake in the market. After getting approval from its board, the bank is all set to come up with Follow-on Public offer (FPO). It is going sell 60 million shares in the market.

SK Goel, Chairman, UCO Bank said, "The bank will come out with an FPO of six crore shares by March-end and will offer a discount to retail investors." The bank expects to raise close to Rs. 400 crore through this FPO.

Glencore Takes Initial Step Towards IPO

glencoreIn what is being seen as the company's first step towards becoming a public company and setting up its initial public offering, Glencore, the world's top ranked commodity trader, has issued up-to $2.2 Billion (1.4 Billion Pounds) in convertible bonds to its strategic investors across US, Singapore and China.

The initial floating of bonds, which values the Swiss firm at $35 Billion, has been taken up by First Reserve, a US private equity group which mainly focuses on natural resources, in addition to GIC, which is Singapore's sovereign wealth fund, American BlackRock and the Zijin Mining Group of China.

Godrej Properties to come up with IPO on December 9

Godrej Properties to come up with IPO on December 9Godrej Properties is all set for its Initial Public Offering (IPO) with the proposed sale of 94.29 lakh equity shares.

The offer is set to open on 9 December while it would close on December 11, according to information provided by the firm today.

The realty company further informed, "The face value of each equity share is Rs 10 each. The price band and minimum bid lot will be decided by the company in consultation with the global coordinators and book running lead managers."

JSW Energy Sets IPO Price Band at Rs 100-115 share: Sources

JSW Energy Sets IPO Price Band at Rs 100-115 share: SourcesJSW Energy, a leading Indian power firm, is likely to price its coming IPO at Rs 100-115 per share, according to some confidential persons concerned with the development.

The firm, run by JSW Group, has also announced its IPO plans last year, but uncertainty in the stock market forced it to postpone its IPO worth up to $1 billion.

Tribhovandas Bhimji Zaveri to bring IPO in the market

Tribhovandas Bhimji Zaveri Pvt. Ltd (TBZ), a Mumbai-based gold jewellery retailer, has revealed its plans to bring an initial public offer (IPO) to part finance its Rs 400 crore expansion plan.

The company intends to establish jewellery outlets across the country. At present, TBZ has 12 large-format jewellery showrooms in five states, which it wants to spread to other important cities of India to tap the growing demand for branded jewellery retail.

TBZ, which had started its operations in 1864, has showrooms at Zaveri Bazaar, Borivili, Santa Cruz, Thane and Ghatkopar in Mumbai and Hyderabad, Vijayawada, Ahmedabad, Surat and Indore.

The Loot Stores to raise Rs 100 crore through IPO

The Loot IPO India

The Loot India Pvt. Limited, the discount retailer of branded apparel, has revealed its plans to raise Rs 100-crore through an IPO, which is likely to be launched in the next 15 months.

The raised amount will be utilized for consolidating company’s retail business as well as for setting up a training campus, spread across 15,00,000 sq ft area near the Maharashtra-Gujarat border. In addition, the campus would also have a small manufacturing unit.

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