Indiabulls Power listed at Rs 45.05 on the NSE today, near its issue price of Rs 45. However, the share fell sharply and at 9.56 am, it was trading at Rs 37.70, at a huge discount of 16.22% to its issue price.

The share touched an intraday high of Rs 45.05 and an intraday low of Rs 35.35 in the early trade. The total traded quantity was 1,54,44,101 shares and turnover was at Rs 5,895.01 lakh.

On the BSE, the share opened at Rs 44.95, around its issue price. It touched an intraday high of Rs 45.50 and intraday low of Rs 35.

The issue had opened for subcription during October 12-15 with 39.07 crore equity shares shares, including a green shoe option of retaining 5.09 crore equity shares.

It received an overwhelming response from investors, especially QIBs (qualified institutional investors) and was subscribed 21.84 times.

Indiabulls Power intends to use the IPO proceeds to part finance the construction and development of the 1,320 MW Amravati Power Project Phase-I, fund equity contribution in the company?s wholly owned subsidiary, IRL to part finance the construction and development of the 1,335 MW Nashik Power Project, apart from general corporate purposes.

For Further Reading:

1. Indiabulls Power IPO to open on Oct 12
2. Indiabulls Power prices pre-IPO placement at Rs 44/sh
3. Thinksoft Global lists at Rs 126 on the NSE
4. Pipavav Shipyard lists at Rs 61.10 on the NSE

Thinksoft Global Services listed at Rs 126 on the NSE today, at a marginal premium of 0.8% to its issue price of Rs 125 a share. However, the stock gained momentum and at 9.56 am, the share was trading at Rs 133, at a premium of 6.40% to its issue price.

The share touched an intraday high of Rs 134.80 and an intraday low of Rs 126 in the early trade. The total traded quantity was 6,06,972 shares and turnover was at Rs 796.53 lakh.

On the BSE, the share opened at Rs 100, at a discount of 20% to its issue price. It touched an intraday high of Rs 136.80 and intraday low of Rs 100.

The issue was of 36,46,000 equity shares and was subscribed 2.57 times. (Read the IPO Subscription details here) The issue was scheduled to close on September 24 but was extended due to lukewarm response from investors.

The company had also reduced its IPO price band to Rs 115-125 from Rs 120-130 per share. The issue had opened for subscription on September 22, 2009 and closed on October 1.

The IPO consisted a fresh issue of 13.5 lakh shares and an offer for sale of 22.96 lakh shares by Gibraltar-based fund, Euro Indo Investments.

Karvy Investor Services was the book running lead manager to the issue.

For Further Reading:

1. Thinksoft Global IPO subscribed 2.57 times
2. Pipavav Shipyard lists at Rs 61.10 on the NSE
3. NHPC listed at Rs. 42 on NSE; 17% gains
4. Indiabulls Power lists at Rs.45 and then loses 16% in early trade

Pipavav Shipyard listed at Rs 61.10 on the NSE today, at a premium of 5.34% to its issue price of Rs 58 a share. At 9.56 am, the share was trading at Rs 60.30.

The share touched an intraday high of Rs 61.10 and an intraday low of Rs 59.90 in the early trade. The total traded quantity was 539611 shares and turnover was at Rs 324.9 lakh.

On the BSE, the share opened at Rs 60.05, at a premium of 3.53% to its issue price. It touched an intraday high of Rs 64.70 and intraday low of Rs 58.80.

The IPO was subscribed almost 9 times. The company raised over Rs 495 crore with the issue of over 85.45 million equity shares of Rs 10 each. The company intends to use the IPO proceeds for Construction of facilities for shipbuilding, ship repair and the Offshore Business among other things.

The company enjoys a strong order book position of 34 ships ? 22 Panamax size huge dry bulk carriers for 3 European shipping companies and 12 OSVs for ONGC. It has also bid for 7 naval vessels.

Pipavav Shipyard intends to utilize its shipbuilding facilities to repair a wide range of vessels, including VLCCs and OSVs, and other specialty vessels such as LNG carriers.

Its dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. Installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, is also in progress.

For Further Reading:

1. Pipavav Shipyard issue priced at Rs 58/sh; listing on Oct 9
2. Pipavav Shipyard IPO to open on Sept 16, 2009
3. Thinksoft Global lists at Rs 126 on the NSE
4. Indiabulls Power lists at Rs.45 and then loses 16% in early trade

Jindal Cotex listed at Rs 77 on the NSE, at a premium of 2.67% to its issue price of Rs 75 a share. The share touched an intraday high of Rs 77.25 and an intraday low of Rs 76.10 in the early trade. The total traded quantity was 1,52,682 shares and turnover was at Rs 117.55 lakh.

On the BSE, the share opened at its issue price of Rs 75. It touched an intraday high of Rs 83.70 and intraday low of Rs 75.

The issue of 1,24,53,894 equity shares was subscribed 2.2 times and company raised Rs 93.40 crore.

The proceeds from the issue (excluding public issue expenses) will be used for setting up a new facility for manufacturing of cotton yarn, yarn dyeing and garments and investment in subsidiaries namely Jindal Medicot & Jindal Specialty Textiles.

The company is engaged in the business of manufacturing of acrylic, polyester, and polyester-viscose, polyester cotton, combed and carded yarns, which are appropriate for apparels, suitings and knitted fabrics. The yarns produced by the company are used for made ups in apparels, hosiery & garment industry.

It has current installed capacity of 23,472 spindles for acrylic, cotton blended and polyester yarns with a manufacturing capacity of 6500 TPA. It manufactures and sell yarns under the trade name “JINDAL”.

For Further Reading:

1. Jindal Cotex IPO opens for subscription today
2. Pipavav Shipyard lists at Rs 61.10 on the NSE
3. Thinksoft Global lists at Rs 126 on the NSE
4. NHPC listed at Rs. 42 on NSE; 17% gains

Adani Power a power project development company, (whose IPO was recently open for public subscriptoin) promoted by Adani Enterprises will list its equity shares on the bourses on August 20, 2009.

The company has fixed the issue price at Rs 100 per equity share for its initial public offering of 301,652,031 equity shares of Rs 10 each.

The price band for Adani Power IPO was Rs 90 to Rs 100 per equity share. The issue got subscribed 21.64 times with the Qualified institutional buyers (QIBs) portion being subscribed 39.47 times; the non-institutional portion was subscribed 8.62 times; and the retail portion was subscribed 2.96 times as per the data released on the NSE website. The issue had opened on July 28, 2009 and closed on July 31, 2009.

The company raised Rs 3,016.52 crore via this IPO. It intends to utilize the net proceeds of the issue to part finance the construction and development of Mundra Phase IV Power project for 1,980 MW and fund equity contribution in its subsidiary, Adani Power Maharashtra Limited, to part finance the construction and development cost of power project for 1,980 MW at Tiroda, Maharashtra.

The net issue constituted 13.47% of the post-issue paid-up equity share capital of the company.

Now, we have to wait until Thursday, the 20th of August, 2009 when the issue gets listed, to see if the investors get lucky with the listing gains… What do you think… Please put your comments below…

For Further Reading:

1. NHPC IPO – Adani Power Listing Impact?
2. Adani Power IPO Subscribed 3.1 times: Most Bids at Rs.100 per share
3. Adani Power IPO opens today!
4. Adani Power :: Should you buy the stock now?