IPO News

United Bk plans IPO in Jan 2010

United Bank of India (UBI) is looking to raise close to Rs 500 crore through its maiden initial public offer (IPO) that is expected to hit the markets by January 2010. UBI’s listing will leave Punjab and Sind Bank as the only public sector undertaking (PSU) bank, which is yet to be listed. The bank proposes to offload a 15% stake to the public by issuing 50 million shares that are likely to be priced between Rs 80-90 per share as per initial valuation estimates. .....

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Pipavav IPO Overbid 2 Times

Pipavav Shipyard has opened its initial public offering (IPO) of 85,450,225 equity shares of Rs 10 each for subscription. It has been subscribed 1.94 times so far and has received bids for 13.62 crore shares as against the issue size till 16 hours IST, as per the data available on the NSE website. Maximum bids were seen at Rs 60/share, the higher end of the price band. Qualified and non-institutional investors’ portion subscribed 1.09 times and 5 times. It will raise nearly Rs 513 crore .....

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OIL IPO Price fixed at Rs. 1050 per share

The price for the highly demanded Oil India’s (OIL) initial public offering (IPO) has been fixed at Rs 1,050 per share by the priceminister’s panel, the Oil Secretary RS Pandey informed. According to the reports, the company will list its equity shares on the bourses on the September 30, 2009. OIL, the second largest oil and gas company in India, had come out with the OIL IPO of 264.5 lakh equity shares of face value Rs 10 each and raised Rs 2,777 crore. The issue .....

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Reliance Infratel plans $1 bn IPO: Reports

According to reports, the telecom tower unit of Indian mobile operator Reliance Communications Ltd has revived its initial public offer plan and is looking forward to raise up to Rs 5,000 crore ($1 billion). Reliance Infratel, 95-per cent owned by the country’s No. 2 mobile firm, aims to sell at least 10 per cent stake to use the capital to fund its expansion plans. The company would file the draft prospectus within a week. In February last year, the company had filed a prospectus with .....

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IPO Fever: Godrej Properties IPO in November

The initial public offering (IPO) season seems to be in its full swing with all the companies coming forward to collecting money from the markets. The next to join the trend is Godrej Properties. According to reports, the proposed Godrej Properties IPO could be floated as early as November. Mr Adi Godrej, the Chairman of the Godrej Group, said on Monday that the draft red herring prospectus has been approved by the Securities and Exchange Board of India (SEBI). Under SEBI guidelines, Godrej Properties has .....

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NHPC Listing on Exchanges on 1st September 2009

The State-run NHPC has decided to be listed on the stock exchanges on the 1st of September, 2009 which will make it the first public sector firm to be available to trade under the second term of the Congress-led UPA government. “From September 1, 2009, the equity shares of NHPC Ltd shall be listed and admitted to dealing in the exchange,” the Bombay Stock Exchange (BSE) said in a statement today. The issue price of NHPC shares has been fixed at the upper band of .....

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Great Eastern Energy plans IPO Launch this fiscal Year

Great Eastern Energy Corporation Ltd plans to raise around Rs 400 crore through an initial public offering this fiscal to part-fund drilling of nearly 300 wells and distribution of gas for industrial purposes in West Bengal. The Gurgaon-based company also plans to invest nearly Rs 2,825 crore in two phases in West Bengal to develop the hydrocarbon production. The company is the country?s first private sector company engaged in exploration, development, production, distribution and sale of natural gas from coal-seams, commonly called coal-bed methane. The .....

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Pipavav Shipyard IPO to open on Sept 16, 2009

Pipavav Shipyard’s initial public offering (IPO) will open for subscription on September 16 or 17, 2009, News sources revealed. The company may raise Rs 400-500 crore via IPO. Punj Lloyd currently holds 22.3% stake in the company. As per the DRHP (draft red herring prospectus) filed with the SEBI, the company is coming out with a public issue of 86,850,000 equity shares of Rs 10 each. About 2,600,000 equity shares of Rs 10 each will be reserved in the issue for subscription by employees. The .....

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Jindal Cotex IPO opens for subscription today

Jindal Cotex has opened for subscription with an initial public offering (IPO) of 1,24,53,894 equity shares of face value of Rs 10 each for cash at a price of Rs 70-75 per equity share aggregating Rs 87.18-93.40 crore. The issue will close on September 1, 2009. The issue comprises of promoters? contribution of 12,03,894 equity shares and reservation of 5,00,000 equity shares for eligible employees. So, the net issue to the public is of 1,07,50,000 equity shares. The net issue shall constitute 43% of the .....

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IPO Index Launched by BSE

The BSE (Bombay Stock Exchange) announced the launch of a new BSE IPO index that will track the value of companies for two years after listing subsequent to successful completion of their initial public offering (IPO). Robust growth of the Indian economy at 6.7% in 2008-09, and the expectation of higher growth in the future are expected to boost the primary market. For this and other reasons, it is an appropriate time to introduce to the market an indicator that will track primary market conditions .....

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Indiabulls Power prices pre-IPO placement at Rs 44/sh

Indiabulls Power, a subsidiary of Indiabulls Real Estate has begun its pre-IPO placement with strategic investors. The indicative pre-IPO price is in the range of Rs 44 a share. The pre-IPO placement could fetch Indiabulls Power about Rs 600 crore. The company will offer 39 crore shares in the IPO. At indicative price of Rs 44/share, the IPO issue could be valued at Rs 1,700 crore. At the pre-IPO price, the company could see valuation of around Rs 8700 crore. The company has four leading .....

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Cox and Kings prepares for IPO Issue again

With the signs of revival shown by the primary market, one of India’s oldest tour operators, Cox & Kings, has initiated the process for its initial public offering (IPO) and has filed the preliminary draft prospectus with market regulator SEBI. The travel company had earlier planned to go for an IPO last year but was forced to shelve down its plans because of the unfavourable market conditions. The scenario has now improved with Indian companies having raised over Rs 9,000 crore so far this year. .....