IPO Update

Adani Power approaches SEBI with revised draft papers for IPO

Adani Power approaches SEBI with revised draft papers for IPO With its first attempt to come out with an initial public offer (IPO) last May being ruined because of difficult market conditions, Adani Power Ltd has again approached the market regulator SEBI with its revised IPO proposal. The company projects proceeds over Rs 2,000 crore from the public issue.

NHPC to hold IPO till market conditions stabilize

NHPCState-owned NHPC, a hydroelectric power generating company, revealed in a statement, that it would come out with its initial public offer, only after the market conditions improve.

Mr. SK Garg, Chairman and Managing Director of the company said, "IPO is on hold till market conditions stabilize."

Last year in October, the company has planned initial public offer (IPO) of 167 crore equity shares, which latter the company called off due to volatile market conditions.

The company has plans to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects.

Edserv Softsystems ends Day 1 with huge premium of 129%

Edserv Softsystems ends Day 1 with huge premium of 129%Shares of e-learning services provider Edserv Softsystems had a strong debut on the stock exchanges on Monday.

The company’s scrip got listed on Monday at Rs 55, down 8.33 per cent from its issue price of Rs 60 on the Bombay Stock Exchange, but later settled the day with whopping premium at Rs 137.55, up Rs 78 or 129 per cent.

During trading session, the scrip touched an intraday high of Rs 147 and intraday low of Rs 55 on BSE. The total traded quantity was 3,41,04,135 shares.

Edserv Softsystems IPO stands alone in tough times; subscribed 1.30 times

Edserv Softsystems IPO stands alone in tough times; subscribed 1.30 times The initial public offer (IPO) of Chennai-based Edserv Softsystems of Rs 20 crore managed to sail through even while the Rs 44-crore IPO of Gemini Engi-Fab has been pulled off last week due to lack of investor confidence.

According to data revealed by National Stock Exchange, the IPO of EdServ Softsystems has received 51,49,000 bids as against issue size of 39,73,908 shares and got subscribed 1.30 times.

The price band for the issue was fixed between Rs 55 and Rs 60.

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.

Chemcel Biotech IPO Opens Today

Vijaywada based Chemcel Biotech (CBL) is all set to enter the capital market today (Sep Chemcel Biotech IPO Opens Today09), with an initial public offering (IPO) of 15,400,000 equity shares of Rs 10 each for cash at a premium of Rs 6.

The fixed priced issue will close on Friday (Sep 12, 2008).

The net issue to the public would be of 12,800,000 equity shares comprising 49.39% of the company’s post issue paid-up capital. The registrar to the issue is Bigshare Services. The equity shares of the company would be listed on the Bombay Stock Exchange.

Austral Coke Lists At Rs 206 On BSE

Kolkata-based Austral Coke and Projects got listed at Rs 206 on the Bombay Stock Austral Coke Lists At Rs 206 On BSEExchange (BSE), a premium of 5.10 percent from the issue price of Rs 196.

The scrip gained strength and touched a high of Rs 308.80. It also touched a low of Rs 206 thus far. At 10:03 am, the company’s shares stood at Rs 297 after hitting a high of Rs 308.80 and a low of Rs 206.

BSE has assigned a scrip code 533,016 to the company, while its shares will trade in the `B` group.

Trinity India to file DRHP with SEBI

Trinity India to file DRHP with SEBIPune based Trinity India (TIL), will soon file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market with a public issue of approximately 4.8 million equity shares of Rs 10 a share for cash at a price to be decided through a 100% book-building process. Trinity India is engaged in the business of manufacture, sale and export of Auto Components for customers in India and overseas. It manufactures all types of Movable Machinery Plants, Machinery, Forging Items for automobile and non auto industry.

Vishal Information Debuts At 13% Discount On NSE

Chennai-based non-voice BPO service provider, Vishal Information Technologies Vishal Information Debuts At 13% Discount On NSEgot listed on the National Stock Exchange (NSE) at a discount of 13.33% at Rs 130 as against its issue price of Rs 150.

The scrip gained strength and touched an intra-day high of Rs 184. It also touched an intra-day low of Rs 125.60 thus far. The scrip was trading around Rs 177 and more than 10.81 lakh shares exchanged hands on the NSE.

Similar movement was seen on the Bombay Stock Exchange, where the scrip of the company got listed at Rs 150.

Nutek India IPO to open on July 29

Gurgaon-based, Nutek India Limited is entering the capital market on July Nutek India IPO to open on July 2929, with an initial public offering (IPO) of 4,500,000 shares of Rs10 each for cash at a price to be determined through a 100% book building process.

The price band has been fixed at Rs170 and Rs192 per share. The issue comprises a fresh issue of 3,500,000 shares and an offer for sale of 1,000,000 shares by a strategic investor.

The Issue has been assigned an IPO grade of 3 out of 5 by rating agency, CRISIL Limited. The issue will close on August 1.

Emaar MGF IPO To Hit Market By Next 18 Months; Plans Expansion

In order to develop property market in South India, Emaar MGF land Ltd, aEmaar MGF IPO To Hit Market By Next 18 Months joint venture between Emaar Properties PJSC of Dubai and MGF Developments Ltd of India, has decided to invest $3 billion by the next 5-7 years.

Out of the proposed $3 billion investment, Emaar MGF plans to spend $1.4 billion on a leisure and residential township in Hyderabad.

BSNL To Go Public Soon

State-owned telecom giant Bharat Sanchar Nigam Limited (BSNL) is State-owned telecom giant Bharat Sanchar Nigam Limited (BSNL) expected to go public shortly.

A spokesperson stated, “Unions will respond positively to a suggestion for listing of BSNL before June 3, which will help BSNL in getting Navratna status, which is very essential in order to maintain the image of BSNL and its survival and growth.”

The decision comes following a ‘positive’ meeting between Communications and IT Minister A. Raja and various BSNL trade union leaders on Thursday evening.

MCX IPO Gets Highest Rating Of 5/5 From CRISIL

Rating agency Crisil has assigned highest rating grade of 5/5 to the initial public offering of Multi-commodity Exchange of India (MCX), the country's largest commodity exchange.

The ‘5/5’ grade indicates that the fundamentals of the issue are strong, relative to other listed equity securities in India.
But it should be remembered that, the rating is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. It is neither a trading recommendation, nor a comment on the future market price or its suitability.

Apart from MCX, Acme Tele Power is the only company to receive the highest rating.

Niraj Cement Structurals To Enter Capital Market On May 26

Niraj Cement Structurals Limited, an engineering and construction companyNiraj Cement Structurals Limited focussing on road construction development, will make entry into the capital market on May 26, 2008 with a public issue of 3.25 million equity shares of Rs 10 each through a 100% book-building process.

The issue will open on May 26 and will close on May 30. The price band has been fixed at Rs 175 to Rs 190 per share. The Issue would comprise 31.42% of the company’s total post issue paid-up equity capital.

KGN Scrip Shoots From Rs 100 To Rs 55K After 7Yrs

The shares of Ahmedabad-based KGN Industries Ltd had an unbelievable KGN Industriesrun on the Bombay Stock Exchange upon re-listing on Wednesday (May 21).

The stock of KGN Industries soared to Rs 55,000 per share from Rs 100 during early trade. This breaks up the record of MMTC which is the most expensive scrip on the bourses at Rs 27,050.

The Z-category stock re-listed after a big gap of seven years. Before its re-listing on May 21, 2008, it had last traded at Rs 11 in 2001 when it was suspended after it failed to fulfill compliance issues with the exchange.




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