Nelcast Ltd. listed at Rs 252 at a 15% premium on the NSE against issue price of Rs 219 per share. At 10:21 AM, the scrip was at Rs 221.40, up Rs 2.40 or 1.10% on the NSE with volume of 16,97,197 shares. So far, it rose to a high of Rs 274 and low of Rs 215.
The company has raised Rs 95.26 crore from its public issue of 43.50-lakh shares of face value Rs 10 each. The IPO, which was open from June 4-8, was subscribed 7.36 times.
Nelcast caters mainly to commercial vehicle and tractor industries. It plans to use the issue proceeds for expansion and modernisation of its iron casting units at Gudur in Andhra Pradesh and Ponneri in Tamil Nadu, to reach a production capacity of 1,50,000 MT per annum by 2008-09.
The company’s customer base includes Tata Motors, Ashok Leyland, Eicher Motors, Tata Cummins, Mahindra and Mahindra, TAFE, International Tractors and New Holland India. It exports to the US, Europe and Australia, its client list comprising Arvin Meritor, Volvo, SIGMA and Dobbie Dico Meter.
Showing posts with label Nelcast Ltd.. Show all posts
Showing posts with label Nelcast Ltd.. Show all posts
Wednesday, June 27, 2007
Friday, June 8, 2007
Nelcast IPO subscribed over 7 times
Initial public offer of Nelcast today got oversubscribed seven times on the last day of its Rs 95.26 crore offer.
The IPO received 3.20 crore bids for its offer of 43.50 lakh equity shares, latest data available on the stock exchanges shows.
The company's offer received decent response from Qualified Institutional Buyers, including Foreign Institutional Investors, mutual funds among others, with the portion reserved for them getting subscribed over 11 times, the data shows.
While, the retail investors portion received over 4 times demand for the part reserved for them in the total offer.
Nelcast, a castings and component manufacturing company, which entered the capital market with a 43.50 lakh share initial public offering, IPO.
The issue made through 100 per cent book building process, with the price band between Rs 195 and Rs 219 for the shares of face value Rs 10 each.
The IPO received 3.20 crore bids for its offer of 43.50 lakh equity shares, latest data available on the stock exchanges shows.
The company's offer received decent response from Qualified Institutional Buyers, including Foreign Institutional Investors, mutual funds among others, with the portion reserved for them getting subscribed over 11 times, the data shows.
While, the retail investors portion received over 4 times demand for the part reserved for them in the total offer.
Nelcast, a castings and component manufacturing company, which entered the capital market with a 43.50 lakh share initial public offering, IPO.
The issue made through 100 per cent book building process, with the price band between Rs 195 and Rs 219 for the shares of face value Rs 10 each.
Wednesday, June 6, 2007
Nelcast, Meghmani Organics IPOs fail to enthuse investors
The initial public offering of Nelcast Ltd. has failed to enthuse investors. Meghmani Organics too has not taken off too well.
As per the latest updates on NSE website, the retail portion of Nelcast was subscribed 0.01 times, while the qualified institutional buyers and non-institutional investors are yet to open their books. The IPO opened for subscription Monday and closes on Friday.
The company is offering 43,50,000 equity shares in the price band of Rs 195-219 per share of Rs 10 face value through 100% book building process. The company plans to raise up to Rs 95.27 crore from the issue.
The Meghmani Organics IPO, which opened along with Nelcast, was subscribed 0.07 times on day two. The company is offering 53,68,421 equity shares of face value Rs 1 each in the price band Rs 17 and Rs 19. The issue closes on Thursday.
The retail investors have subscribed the issue 0.21 times, non-institutional investors subscribed 0.06 times while the QIB portion is yet to see bids.
Read more in The Economic Times article.
As per the latest updates on NSE website, the retail portion of Nelcast was subscribed 0.01 times, while the qualified institutional buyers and non-institutional investors are yet to open their books. The IPO opened for subscription Monday and closes on Friday.
The company is offering 43,50,000 equity shares in the price band of Rs 195-219 per share of Rs 10 face value through 100% book building process. The company plans to raise up to Rs 95.27 crore from the issue.
The Meghmani Organics IPO, which opened along with Nelcast, was subscribed 0.07 times on day two. The company is offering 53,68,421 equity shares of face value Rs 1 each in the price band Rs 17 and Rs 19. The issue closes on Thursday.
The retail investors have subscribed the issue 0.21 times, non-institutional investors subscribed 0.06 times while the QIB portion is yet to see bids.
Read more in The Economic Times article.
Monday, June 4, 2007
Nelcast, Meghmani Organics IPOs open today
The initial public offers of Nelcast Ltd. and Meghmani Organics Ltd. will open today for subscription.
Nelcast has fixed the price band of its IPO between Rs 195-219 for shares of face value Rs 10 each while Meghmani has fixed its price band of its Re 1 each share between Rs 17-19.
Nelcast, a castings and component manufacturing company, plans to raise up to Rs 95.27 crore mainly to fund its capital expenditure.
Meghmani Organics, manufacturer of pigments and agrochemicals, plans to utilise the proceeds to finance a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli. The company would also use the proceeds to invest in subsidiary Meghmani Energy, finance a 3 MW captive power plant at Chharodi,inorganic growth/ diversification opportunities and working capital requirements.
Nelcast has fixed the price band of its IPO between Rs 195-219 for shares of face value Rs 10 each while Meghmani has fixed its price band of its Re 1 each share between Rs 17-19.
Nelcast, a castings and component manufacturing company, plans to raise up to Rs 95.27 crore mainly to fund its capital expenditure.
Meghmani Organics, manufacturer of pigments and agrochemicals, plans to utilise the proceeds to finance a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli. The company would also use the proceeds to invest in subsidiary Meghmani Energy, finance a 3 MW captive power plant at Chharodi,inorganic growth/ diversification opportunities and working capital requirements.
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