Power Grid Corporation of India Ltd (PGCIL), the country's biggest transmission utility, on Wednesday filed its red herring prospectus with market regulator SEBI for its initial public offer to raise an estimated 580 crore.
PGCIL is the third central power utility to tap the capital market for raising funds after NTPC Ltd in 2004 and Power Finance Corporation early this year.Like NTPC and PFC, the government will piggyback on PGCIL IPO to divest five per cent of its stake. While NTPC had raised around Rs 5,400 crore, PFC had mopped up nearly Rs 1,000 crore. Power Grid is expected to mobilise up to Rs 580 crore, sources said.
The public issue comprises 57.39 crore equity shares of Rs 10 each. This includes a fresh issue of 38.26 crore shares by PGCIL and an offer for sale of 19.13 crore shares by the government. About 1.39 crore shares have been reserved for employees and the net issue to public is 55.99 crore shares.
The company will issue shares at a price to be decided through the book building process and the shares will be listed on Bombay Stock Exchange and National Stock Exchange.
Kotak Mahindra Capital Company Ltd, Citigroup global Markets India and Enam Financial Consultants are the book running lead managers to the issue.
Showing posts with label Kotak Mahindra Capital. Show all posts
Showing posts with label Kotak Mahindra Capital. Show all posts
Wednesday, August 22, 2007
Wednesday, July 4, 2007
IDFC selling shares to mop up $500 mn
Infrastructure Development Finance Co. (IDFC), India’s biggest financier of public works, is selling $500 million (Rs2,050 crore) of shares to institutional investors, three people with knowledge of the matter said.
The sale, which began on Monday, will close on Wednesday and shares will be priced on 5 July, said the people, who declined to be identified before an announcement. The shares are being sold by auction or through book building, the people said.
“Several infrastructure projects will need large investments as India aims to increase its growth rate,” said R.K. Gupta, who manages Rs350 crore at Credit Capital Asset Management in Delhi and owns IDFC shares.
IDFC’s share sale follows a $5 billion offering by ICICI Bank Ltd, India’s biggest by market value, in June. The Mumbai-based company is raising money to meet demand for funds to build roads, ports and power plants in the world’s fastest growing major economy after China.
Citigroup Inc. and UBS AG are helping the lender sell the shares to banks, mutual funds, insurance companies and other big investors, according to a filing with the National Stock Exchange.JM Financial Consultants Ltd and Kotak Mahindra Capital Co. are also involved in the sale, the filing said.
Read more in The Livemint article.
The sale, which began on Monday, will close on Wednesday and shares will be priced on 5 July, said the people, who declined to be identified before an announcement. The shares are being sold by auction or through book building, the people said.
“Several infrastructure projects will need large investments as India aims to increase its growth rate,” said R.K. Gupta, who manages Rs350 crore at Credit Capital Asset Management in Delhi and owns IDFC shares.
IDFC’s share sale follows a $5 billion offering by ICICI Bank Ltd, India’s biggest by market value, in June. The Mumbai-based company is raising money to meet demand for funds to build roads, ports and power plants in the world’s fastest growing major economy after China.
Citigroup Inc. and UBS AG are helping the lender sell the shares to banks, mutual funds, insurance companies and other big investors, according to a filing with the National Stock Exchange.JM Financial Consultants Ltd and Kotak Mahindra Capital Co. are also involved in the sale, the filing said.
Read more in The Livemint article.
Monday, July 2, 2007
HDIL IPO gets fully subscribed on third day
The initial public offer of real estate developer Housing Development and Infrastructure Ltd (HDIL), expected to garner about Rs1,485 crore, got fully subscribed on its third day on 2 July.
The latest data available on the bourses show the issue received bids for 39 million shares for its offer of 29.7 million equity shares getting subscribed 1.31 times.
The price band of the offer that would close on 3 July has been fixed at Rs430-500.
Earlier, the Mumbai-based company had said there would be a green-shoe option of up to 4.45 million shares while 600,000 shares would be reserved for eligible employees.
The proceeds of the IPO would be utilised for part-financing land acquisition for development of the company’s ongoing projects.
Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
The latest data available on the bourses show the issue received bids for 39 million shares for its offer of 29.7 million equity shares getting subscribed 1.31 times.
The price band of the offer that would close on 3 July has been fixed at Rs430-500.
Earlier, the Mumbai-based company had said there would be a green-shoe option of up to 4.45 million shares while 600,000 shares would be reserved for eligible employees.
The proceeds of the IPO would be utilised for part-financing land acquisition for development of the company’s ongoing projects.
Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
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.
Wednesday, May 23, 2007
Central Bank plans to raise $197 mn IPO
State-run commercial lender Central Bank of India has filed papers with the regulator for an initial public offering to sell 20 percent, which bankers said could raise about Rs 80 crore ($197 million).
The bank said in its offer document it planned to sell 80 million shares, or a fifth of its post-issue capital.
"We are aiming for about 8 billion rupees," said a banker associated with the issue, adding it may open for subscription in July. Another banker also gave a similar figure.
The bank's net profit jumped 93 percent to Rs 49.8 crore in the fiscal year ended March, boosted by lower provisioning for bad loans, it said in the offer document.
ICICI Securities, Citigroup, Enam Financial, IDBI Capital and Kotak Mahindra are arrangers to the issue.
The bank said in its offer document it planned to sell 80 million shares, or a fifth of its post-issue capital.
"We are aiming for about 8 billion rupees," said a banker associated with the issue, adding it may open for subscription in July. Another banker also gave a similar figure.
The bank's net profit jumped 93 percent to Rs 49.8 crore in the fiscal year ended March, boosted by lower provisioning for bad loans, it said in the offer document.
ICICI Securities, Citigroup, Enam Financial, IDBI Capital and Kotak Mahindra are arrangers to the issue.
Friday, May 18, 2007
BSE demutualised; LIC, SBI, AV Birla group pick up stakes
The Bombay Stock Exchange, Asia’s oldest, on 18 May completed a nearly two-year exercise of corporatising itself by offloading 51% of broker members’ stake to 19 investors including SBI, LIC and Aditya Birla group, besides Deutsche Borse and Singapore Exchange.
The corporatisation or demutualisation process was to have been completed by 19 May as mandated by the Securities and Exchange Board of India under the BSE (Corporatisation and Demutualisation) Scheme, 2005.Before demutualisation, 790 broker-members held 100% in the 131-year-old exchange.
The 19 investors have picked up 41% stake and the remaining 10% was sold to Deutsche Borse and Singapore Exchange (SGX), who picked up 5% each for Rs189 crore at Rs5,200 a share earlier this year.The market capitalisation of the BSE now stands at around $1 billion.
T V Raghunath, executive president, investment banking, Kotak Mahindra Capital Company, which was the exclusive financial advisor to the demutualisation process, said that a total of $500 million was collected through the stake sale.
Read more in The Live Mint article.
The corporatisation or demutualisation process was to have been completed by 19 May as mandated by the Securities and Exchange Board of India under the BSE (Corporatisation and Demutualisation) Scheme, 2005.Before demutualisation, 790 broker-members held 100% in the 131-year-old exchange.
The 19 investors have picked up 41% stake and the remaining 10% was sold to Deutsche Borse and Singapore Exchange (SGX), who picked up 5% each for Rs189 crore at Rs5,200 a share earlier this year.The market capitalisation of the BSE now stands at around $1 billion.
T V Raghunath, executive president, investment banking, Kotak Mahindra Capital Company, which was the exclusive financial advisor to the demutualisation process, said that a total of $500 million was collected through the stake sale.
Read more in The Live Mint article.
Thursday, March 22, 2007
Ujala maker Jyothy Laboratories plans Rs. 300 crore-IPO
Mumbai-based fast moving consumer goods company Jyothy Laboratories, famous for its Ujala brand of fabric whiteners, is planning to list on the stock exchanges by end of 2007. Jyothy Laboratories will raise Rs. 300 crores in an initial public offering. The company has reportedly appointed Kotak and Enam as advisors to the issue.
Jyothy Labs is a closely held company with about 70% stake being held by founder chairman and managing director M P Ramachandran and his family. The balance 30% is held by private equity firms CLSA and Actis along with a foreign subsidiary of ICICI Bank. The foreign investors are likely to exit the company at the time of the IPO.
Sales of Jyothy Laboratories are pegged at between Rs. 400-500 crores. The company is said to have been valued at around Rs. 1000 crores.
Read more on Moneycontrol.com
Jyothy Labs is a closely held company with about 70% stake being held by founder chairman and managing director M P Ramachandran and his family. The balance 30% is held by private equity firms CLSA and Actis along with a foreign subsidiary of ICICI Bank. The foreign investors are likely to exit the company at the time of the IPO.
Sales of Jyothy Laboratories are pegged at between Rs. 400-500 crores. The company is said to have been valued at around Rs. 1000 crores.
Read more on Moneycontrol.com
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