Spice Communications Ltd’s initial public offer opens on Monday. The company is offering 11.31-crore equity shares of Rs 10 each through the 100% book building route. The price band has been fixed between Rs 41 and Rs 46 per share. The issue constitutes 16.39% of the fully diluted post-issue equity share capital of the company.
The book running lead managers to the issue are Enam Financial Consultants and UBS Securities India.The issue closes Friday.At least 60% of the issue will be allocated to qualified institutional buyers, up to 30% to retail investors and up to 10% to non-institutional investors.
The IPO proceeds will be mainly utilised towards repayment of debt, payment of license fee for national long distance and international long distance services and related capital expenditures. The funds will also be used for payment to vendors for network equipments and other capital expenditures.
The company recently concluded a pre-IPO placement of 2.4 crore shares at Rs 45 per share, raising about Rs 112 crore. Lehman Brothers and Sinnaker Investments have picked up a small stake in Spice Telecom.
Read more in The Economic Times article.
Showing posts with label Book Building. Show all posts
Showing posts with label Book Building. Show all posts
Monday, June 25, 2007
Thursday, June 21, 2007
HDIL IPO to raise Rs 1,485 cr from mkt
Housing Development and Infrastructure (HDIL) on Thursday announced that it will enter the capital markets with an Initial Public Offering (IPO) to raise upto Rs 1,485 crore to part finance land acquisition for development of its ongoing projects.
The 100 per cent book building issue, to be opened from June 28-July 3, would offer 2.97 crore equity shares of Rs 10 each at a price band of Rs 430-500 each.
“Of the total, there will be a green shoe option of up to 44.5 lakh equity shares while six lakh shares would be reserved for eligible employees,” HDIL Group Advisor B M Chaturvedi said here.
The net issue would constitute 13.86 per cent of the fully-diluted post-issue equity capital of the company. However, if the green shoe option is also fully exercised, the dilution could be up to 15.65 per cent.
Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
The 100 per cent book building issue, to be opened from June 28-July 3, would offer 2.97 crore equity shares of Rs 10 each at a price band of Rs 430-500 each.
“Of the total, there will be a green shoe option of up to 44.5 lakh equity shares while six lakh shares would be reserved for eligible employees,” HDIL Group Advisor B M Chaturvedi said here.
The net issue would constitute 13.86 per cent of the fully-diluted post-issue equity capital of the company. However, if the green shoe option is also fully exercised, the dilution could be up to 15.65 per cent.
Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
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