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Thanga Mayil Jewellery IPO to open on Jan 27

Amandeep Singh — Mon, 25 Jan 2010 09:14:43 +0000

Thangamayil Jewellery is coming out with an initial public offering (IPO) of Rs 28.75 crore on January 27, 2010. The price band for the issue has been fixed at Rs 70-75 per equity share. The issue will close on January 29.

The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai; working capital requirement and issue expenses.

For the year ended March 31, 2009, it has reported 10% jump in its net sales of Rs 246.84 crore and net profit of Rs 7.49 crore.

Revenue break up for FY09:

Gold & Jewellery – Rs 241 crore
Diamond                 - Rs 0.28 crore
Silver                        – Rs 5.53 crore
Others                      - Rs 0.04 crore

It is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. It has introduced the Hallmarking practice for the first time in Madurai.

Equity shares are proposed to be listed on the BSE and NSE. The book running lead manager to the issue is Keynote Corporate Services Limited and SKDC Consultants Limited is the registrar.

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Aqua Logistics IPO opens for Subscription

Amandeep Singh — Mon, 25 Jan 2010 08:30:52 +0000

As we updated in a previous article “Aqua Logistics to raise Rs 150cr; IPO to open on Jan 25” regarding Aqua logistics IPO coming to the market, the initial public offering (IPO) of Rs 150 crore of Mumbai based Aqua Logistics has opened for subscription today.

The price band is fixed at Rs 220-230 per share. A discount of Rs 5 to the issue price has been allowed to retail investors. The issue will close on January 28, 2010.

Aqua Logistic is engaged in the business of freight forwarding services with agents to provide end-to-end solution to its clients.

The company intends to use the issue proceeds for purchasing of specialized equipments; expansion & establishment of offices; funding proposed acquisition and additional working capital requirements.

The book running lead managers to the issue are Centrum Capital Ltd and Saffron Capital Advisors Pvt Ltd. Link Intime India Pvt Ltd is the registrar.

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Jubilant FoodWorks IPO subscribed 31.11 times

Amandeep Singh — Thu, 21 Jan 2010 08:11:40 +0000

The second initial public offering (IPO) of the year 2010, Jubilant FoodWorks, the Domino’s business operator in India, has been received tremendous response from investors, especially from qualified institutional investors. The issue has been subscribed 31.11 times so far, as per data available on the NSE website.

Qualified institutional investors‘ reserved portion subscribed 59.39 times followed by non-institutional investors with 51.95 times and retail 3.78 times.

The IPO of 22,670,447 equity shares closes for subscription today. The company is going to raise upto Rs 328.72 crore at upper end of the price band of Rs 135-145 per share.

The company has received commitment of Rs 44.37 crore from anchor investors, which include Arisaig Partners, Blackrock, Canara Robeco MF, Capital World, Fidelity, Franklin Templeton, HSBC, Prudential, Reliance MF, SBI MF, T Rowe Price and Ward Ferry.

Kotak Mahindra Capital Company Limited is acting as the sole book running lead manager to the offer. The offer comprises a fresh issue of 4,000,000 equity shares and an offer for sale of 18,670,447 equity shares by the India Private Equity Fund (Mauritius) and Indocean Pizza Holding Limited.

The equity shares offered through the Red Herring Prospectus (RHP) are proposed to be listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

Source: MoneyControl

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Oberoi Constructions files papers for IPO with SEBI

Amandeep Singh — Mon, 18 Jan 2010 14:12:58 +0000

Real estate company Oberoi Constructions filed its draft red herring prospectus (DRHP) today with the Securities Exchange Board of India (SEBI), according to the sources.

According to the sources, the company, proposes to raise Rs 1,500 crore via an initial public offer (IPO) and the promoters may divest 11-12% stake via this issue. Oberoi Constructions is a zero debt company. The proceeds from the IPO will be utilised towards expansion and acquisition of land bank. The company has about 26 ongoing projects.

Kotak Mahindra, Enam Securities and Morgan Stanley are bankers to the issue, it is learnt.

Also, Morgan Stanley holds about 10% stake in the company. At the time of the Morgan Stanley investment, the company was valued at about Rs 6,750 crore. The company is now looking to double it through the IPO. The IPO issue is to give a no-exit option to Morgan Stanley, it is learnt.

Disclaimer:

The above information is based on sources and no information has been provided to the stock exchanges.

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Aqua Logistics to raise Rs 150cr; IPO to open on Jan 25

Amandeep Singh — Mon, 18 Jan 2010 13:55:43 +0000

Mumbai based Aqua Logistics is coming out with an initial public offering (IPO) to collect Rs 150 crore from the markets. The issue will open for subscription on the January 25, 2010 and will close on January 28, 2010. The price band is fixed at Rs 220-230 per share.

The company intends to use the issue proceeds for purchasing of specialized equipments; expansion & establishment of offices; funding proposed acquisition and additional working capital requirements.

The book running lead managers to the issue are Centrum Capital Ltd and Saffron Capital Advisors Pvt Ltd. Link Intime India Pvt Ltd is the registrar.

Source: Link

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Den Networks IPO opens for Subscription

Amandeep Singh — Wed, 28 Oct 2009 09:12:00 +0000

The initial public offering (IPO) of Den Networks has opened for subscription today. The issue is of up to 20,000,000 equity shares of Rs 10 each. The issue will close on October 30, 2009. The company has fixed price band between Rs 195-205/share.

The issue comprises a net issue to the public of up to 19,750,000 equity shares and a reservation of up to 250,000 equity shares for subscription by eligible employees. The issue would constitute up to 15.16% of the post-issue paid-up equity share capital of the company. The net issue would constitute 14.97% of the post-issue paid-up equity share capital of the Company.

At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers (QIB). The company may allocate up to 30% of the QIB Portion, to anchor investors on a discretionary basis. Further 5% of the QIB portion less anchor investor portion shall be available for allocation on a proportionate basis to mutual funds only.

Also, not less than 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and not less than 30% of the net issue will be available for allocation on a proportionate basis to retail individual bidders, subject to valid bids being received at or above the issue price.

Promoted by Mr Sameer Manchanda and Lucid Systems Private Limited, Den Networks is one of the largest national cable television companies in India engaged in the distribution of analog and digital cable television services (Source: MPA Report 2009). Since incorporation in July 2007, it has expanded analog cable services to 77 cities across India.

It currently provides cable television services in the National Capital Region of Delhi and the states of Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala. It has obtained an all-India ISP license and has recently commenced a limited roll out of broadband internet services in select areas, which it intends to expand in all the other cities where it operates.

The IPO Proceeds will partly fund the company?s plans to invest in the development of cable television infrastructure and services; the development of cable broadband infrastructure and services; and acquisition of content and broadcasting rights amongst others.

The equity shares offered through the RHP of the Company are proposed to be listed on Bombay Stock Exchange and National Stock Exchange of India.

The global coordinator and book running lead manager for the issue is Deutsche Equities India Private Limited. The co-book running lead manager for the issue is Antique Capital Markets Private Limited. Karvy Computershare Pvt Ltd is the registrar.

For the year ended March 31, 2009, it has reported loss of Rs 13.8 crore and total income of 271.11 crore.

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Pipavav Shipyard issue priced at Rs 58/sh; listing on Oct 9

Amandeep Singh — Thu, 08 Oct 2009 09:08:00 +0000

India?s largest dockyard Pipavav Shipyard will list its equity shares issued via public issue on October 9, 2009. It has fixed its issue price at Rs 58.

The IPO was subscribed almost 9 times. Building India?s largest dry dock and world class multi-sector fabrication facility, Pipavav Shipyard hit the capital market on September 16 and closed on September 18.

The company raised over Rs 495 crore with the issue of over 85.45 million equity shares of Rs 10 each and the issue came with a price band of Rs 55-Rs 60. 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.

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Thinksoft Global IPO subscribed 2.57 times

Amandeep Singh — Mon, 05 Oct 2009 08:17:00 +0000

The initial public offering (IPO) of Thinksoft Global Services was subscribed 2.57 times as per the NSE website. The issue received total bids for 93,70,900 shares against its issue size of 36,46,000. 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.

Read Full Article Here: Thinksoft IPO Price band reduced

The issue had opened for subscription on September 22, 2009.

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.

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Indiabulls Power IPO to open on Oct 12

Amandeep Singh — Mon, 05 Oct 2009 08:09:00 +0000

According to the sources, the initial public offering (IPO) of Indiabulls Power, a subsidiary of Indiabulls Realty will open for subscription on October 12, 2009 and will close on October 15, 2009.

From this issue, the company is expected to raise around Rs 2,000 crore.

The proceeds of the issue will be used to part finance the construction and development of the 1,320 MW Amravati Power Project Phase ? I (Rs 775 crore from the issue) and for funding 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 (Rs 660 crore from the issue).

Read: Indiabulls Power prices pre-IPO placement around Rs 44/sh

Indiabulls Power will offer 33.98 crore equity shares via this IPO. There will also be a green shoe option of up to 50,900,000 equity shares, which will take the issue size to 39.07 crore shares. Before the green shoe option, the issue will constitute 16.98% of the fully diluted post issue paid-up capital of the company and post the green shoe option – 19.06%.

The company has five thermal power projects under development, which will have a combined installed capacity of 6,615 MW. The Projects include -:

1 – Amravati Phase I Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

2 – Nashik Power Project will consist of five units of 135 MW each and two units of 330 MW each, with a combined capacity of 1,335 MW.

3 – Bhaiyathan Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

4 – Amravati Phase II Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

5 – Chhattisgarh Power Project is expected to have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.

Apart from these projects, the Company is developing four medium sized hydro-power projects of 60 MW, 30 MW, 46 MW and 31 MW in Arunachal Pradesh.

For the year ended March 31, 2009, it has reported profit of Rs 82.96 crore on total income of Rs 141.34 crore on the consolidated basis.

Morgan Stanley India Company Pvt Ltd is the book running lead manager and Karvy Computershare Pvt Ltd is the registrar to the issue.

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Glenmark to raise Rs 575cr: Sources

Amandeep Singh — Thu, 01 Oct 2009 13:21:00 +0000

Glenmark Generics filed a draft red herring prospectus (DRHP) yesterday, according to the sources. Glenmark Pharma would raise Rs 575 crore via Glenmark Generics initial public offer (IPO). The issue values Glenmark Generics at Rs 5,000 crore.

This is sourced based information and we get to hear that, the company will raise Rs 575 crore through the IPO in Glenmark Generics. This values Glenmark Generics at about USD 1 billion or Rs 5,000 crore, the equity dilution in Glenmark Pharma is expected to be between 10-15%.

Glenmark Generics had sales of about Rs 985 crore in financial year 2009 and 70% of that business came from the US geography and other 20% from API part of the business. In terms of how the structure is going to look like is that Glenmark Generics will be having its generic business which is having main presence in the US and the other business which is a specialty business of R&D and branded generics will remain with erstwhile Glenmark Pharma. So, this is how the whole structure is and Rs 575 crore is what they are planning to raise from Glenmark Generics IPO.

Source: Moneycontrol

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Thinksoft IPO Price band reduced

Amandeep Singh — Fri, 25 Sep 2009 11:58:00 +0000

Thinksoft Global Services has extended its initial public offering (IPO) closing date to October 1, 2009 from the earlier decided date, September 24, due to a lukewarm response from investors, especially qualified institutional investors (QIBs). It also reduced its IPO price band to Rs 115-125 from the earlier Rs 120-130 per share.

Commenting on this development, Asvini Kumar, MD, Thinksoft Global Services, said till yesterday QIBs had not contributed much whereas the high networth individuals (HNI) portion was oversubscribed twice and the retail portion was oversubscribed 1.3 times. ‘The pricing and the extension is done on investor bankers? advice and they feel confident,’ he added.

If you look at the data as of yesterday, the qualified institutional buyers (QIBs) have not contributed whereas the high networth individuals (HNI) portion has been oversubscribed twice and the retail portion has been oversubscribed 1.3 times. So, this is a very interesting trend. So, the questions here are why is the QIB so low and why are the other things looking good. So, we try to interpret this data and I can tell you that the QIBs do parametric investing, they will have their own set of rules and guidelines for investing. For example if one of the guidelines was size or something like I won?t invest below a certain thing or I will invest in a company with above a certain thing or issue size above a certain thing that could become a constraint but I really don?t know what their parameters were. But if you look at the HNI and retail response, one thing becomes very clear that there is a huge segment of individual retail investors, intelligent HNIs who look at their investing decisions based on the quality of the management, the promoters commitment, the company?s profitability, our topline and bottomline growth, our dividend record for ten years, good cash reserves, so they see a value proposition in this. According forester report, the specialist and niche players are not going to be affected much and it is the Indian outsourcing strength and our skills as a domain focused company we are in good state. So, I think the lesson to be learnt is that there is a new target and we have to give them time to come and invest and close out the issue and we have given them an opportunity, the MD said.

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Reliance Infratel files IPO papers

Amandeep Singh — Fri, 25 Sep 2009 07:56:00 +0000

Anil Dhirubhai Ambani Group (ADAG) company and subsidiary of Reliance Communications, Reliance Infratel, has filed for the draft red herring prospectus (DRHP) for an initial public offering (IPO) of 15.6 crore shares with the SEBI (Securities and Exchange Board of India).

The offer will be constituted 10.05% of the fully diluted post issue paid-up capital of the company. Post issue, Reliance Communication will continue to own 85% stake in the company.

Part of proceeds will use for repaying RCIL (Reliance Communications Infrastructure Limited) loan of Rs 4,931 crore. Out of proceeds, Rs 4,000 crore will be used to repay loans.

Reliance Infratel has total of 48,139 towers as of August 31, 2009. It reported revenue of Rs 4,934 crore and net profit of Rs 1,585 crore in FY09.

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