Bharat Earth Movers Ltd has fixed the issue price of Rs 1,075 per share for its 49 lakh share follow-on issue. It is at a discount of Rs 149 or 12 per cent to the current market price of Rs 1,224.
BEML’s follow-on public issue, which opened for subscription on June 27 and closed Tuesday, was subscribed 30.65 times.The FPO received bids for 150,193,480 equity shares against the offer of 4,900,000 shares. The issue received bids for 6,072,645 shares at cut-off price.
Out of the issue, qualified institutional buyers’ portion received bids for 139,654,750 shares against the offer of 2,205,000 shares, resulting in a huge subscription of 63.3355 times.
The non-institutional investors’ portion received subscription of 8.47 times with bids for 5,604,055 equity shares against the offer of 661,500 shares. Retail individual investors’ portion received bids for 4,930,965 shares against the offer of 1,543,500 shares, resulting in subscription of 3.19 times.
Showing posts with label BEML. Show all posts
Showing posts with label BEML. Show all posts
Thursday, July 5, 2007
Thursday, June 28, 2007
Spice IPO sold 37 times, BEML offer on a roll
Investors’ interest in Spice Communications’ initial public offering (IPO) picked up on the final day backed by qualified institutional investors as the issue was subscribed 37.554 times. Suryachakra Power Corporation, which has two more days to close, is yet to impress investors.
The Noida-based cellular operator’s public issue of over 113 million equity shares, which opened for subscription on the Bombay Stock Exchange (BSE) on Monday, received over 4,247 million bids, according to the BSE website. The issue is priced in the band of Rs 41-46 a share.
The public issue of Suryachakra Power Corporation, which opened for subscription on Monday for selling 34 million equity shares, received bids for 79 per cent of the shares on offer. The company received a total of 26.802 million bids.
The qualified institutional buyers’ (QIB) portion was subscribed 1.5124 times, while the retail portion was subscribed 0.1142 times. The non-institutional investor portion has not got any investors so far. The price band for the issue has been fixed at Rs 17-20 a share.
Meanwhile, mining and construction equipment major Bharat Earth Movers’ (BEML) follow-on public offer (FPO) opened for subscription today. I-Sec is the lead banker to the issue. The issue has already been subscribed 1.02 times.
The Noida-based cellular operator’s public issue of over 113 million equity shares, which opened for subscription on the Bombay Stock Exchange (BSE) on Monday, received over 4,247 million bids, according to the BSE website. The issue is priced in the band of Rs 41-46 a share.
The public issue of Suryachakra Power Corporation, which opened for subscription on Monday for selling 34 million equity shares, received bids for 79 per cent of the shares on offer. The company received a total of 26.802 million bids.
The qualified institutional buyers’ (QIB) portion was subscribed 1.5124 times, while the retail portion was subscribed 0.1142 times. The non-institutional investor portion has not got any investors so far. The price band for the issue has been fixed at Rs 17-20 a share.
Meanwhile, mining and construction equipment major Bharat Earth Movers’ (BEML) follow-on public offer (FPO) opened for subscription today. I-Sec is the lead banker to the issue. The issue has already been subscribed 1.02 times.
Monday, June 25, 2007
BEML fixes FPO price band at Rs1,020-1,090
Bharat Earth Movers Ltd (BEML) on 25 June announced a price band of Rs1,020-1,090 for its follow-on public issue to mop up upto Rs534 crore, to fund expansion and diversification plans.
The price band has been fixed at a discount to the scrip’s market price of Rs1,144 at 3pm on 25 June on the National Stock Exchange.BEML chairman and managing director V R S Natarajan said the price-band was “reasonably kept” keeping in mind the interests of retail investors.
BEML’s follow-on public offer of 4.9 million shares opens on 27 June and would constitute the company’s 11.77% of the fully diluted post-issue paid-up equity capital.The defence public sector undertaking posted 8.58% increase in net profit at Rs93.51 crore for the fourth quarter ended 31 March, against Rs86.12 crore for the same period last year.
Read more in The Livemint article.
The price band has been fixed at a discount to the scrip’s market price of Rs1,144 at 3pm on 25 June on the National Stock Exchange.BEML chairman and managing director V R S Natarajan said the price-band was “reasonably kept” keeping in mind the interests of retail investors.
BEML’s follow-on public offer of 4.9 million shares opens on 27 June and would constitute the company’s 11.77% of the fully diluted post-issue paid-up equity capital.The defence public sector undertaking posted 8.58% increase in net profit at Rs93.51 crore for the fourth quarter ended 31 March, against Rs86.12 crore for the same period last year.
Read more in The Livemint article.
Thursday, June 14, 2007
BEML's follow-on issue on June 27
Bharat Earth Movers Ltd’s follow-on public issue of 49 lakh equity shares of Rs 10 each will open on June 27 and close on July 3. The price band is yet to be announced.ICICI Securities is the book running lead manager to the issue.
The issue would constitute 11.77 pct of the fully diluted post issue paid-up capital.
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70 pct market share in domestic industry.
The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
The issue would constitute 11.77 pct of the fully diluted post issue paid-up capital.
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70 pct market share in domestic industry.
The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
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