The initial public offering of Central Bank of India got fully subscribed just hours after the issue opened.As per the NSE website, the issue was subscribed 1.09 times. It received 8.70 crore bids for the issue size of 8 crore shares. Around 98,040 bids were made at cut-off price.The price band of the issue is fixed at Rs 85-102 per share. The issue closes Friday.
The bank plans to raise Rs 680 crore at the lower price band of Rs 85 and Rs 816 crore at the upper price band of Rs 102 through the issue.The issue proceeds will be utilised to augment the capital base of the bank to meet future capital requirements.
The bank has reserved 60 per cent of the shares for the qualified institutional buyers and 30 per cent of the shares for retail investors.Post issue, the shareholding of the union government in the bank will come down to 80.20 per cent.
Showing posts with label Retail Investor. Show all posts
Showing posts with label Retail Investor. Show all posts
Tuesday, July 24, 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.
Meghmani Organics IPO lists at 75% premium
Meghmani Organics Ltd. listed on the stock exchanges Thursday. It opened at Rs 33.25 on the National Stock Exchange, a premium of 75% to the issue price of Rs 19. The low was Rs 26.
The six crore share-public offer was subscribed 23.94 times. The price band of the issue was Rs 17-Rs 19 per share of Re 1 each.The issue was subscribed 44.75 times by non-institutional investors. Of the 3.60 crore shares on offer, qualified institutional buyers applied 19.43 times, while retail investors subscribed the balance 26.01 times.
The objects of the issue included financing a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli.
The company will also use the proceeds to invest in Meghmani Energy, finance a 3MW captive power plant at Chharodi, Gujarat, for diversification opportunities and working capital requirements.
The six crore share-public offer was subscribed 23.94 times. The price band of the issue was Rs 17-Rs 19 per share of Re 1 each.The issue was subscribed 44.75 times by non-institutional investors. Of the 3.60 crore shares on offer, qualified institutional buyers applied 19.43 times, while retail investors subscribed the balance 26.01 times.
The objects of the issue included financing a new high performance pigment plant at Vatva, Ahmedabad and a multi-purpose agro-chemicals plant at Panoli.
The company will also use the proceeds to invest in Meghmani Energy, finance a 3MW captive power plant at Chharodi, Gujarat, for diversification opportunities and working capital requirements.
Monday, June 25, 2007
Spice Comm IPO opens today
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.
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.
Tuesday, June 19, 2007
ICICI Bank FPO off to a blistering start
The country's biggest ever follow-on public issue (FPO) for Rs 8,750 crore ($ 2.13 billion) by ICICI Bank was fully subscribed within the first 10 minutes of its opening today morning following big bids by institutional investors. At the end of the first day, the FPO was subscribed by 2.74 times.There are three more days for the issue to close.The bank received bids for 270.84 million shares for the 98.87 million shares on offer. Bids for 1,77,516 shares were at the cut-off price.
Data available with the National Stock Exchange shows that foreign institutional investors (FIIs) have placed bids for shares out of the shares reserved for qualified institutional buyers (QIBs)."Mutual Funds are sitting on good cash. This coupled with FII interest has led to oversubscription of the FPO," Kashyap Jhaveri, analyst at Emkay Share, said.The QIB portion was subscribed by 5.6 times, say sources.
"It's not surprising. The issue was expected to get good response from investors. The liquidity situation continues to be good in the Indian markets," said Jayesh Shroff, fund manager, SBI Mutual Fund.
Shares of the bank traded at Rs 944.40 on the 30-stock Sensex of the Bombay Stock Exchange(BSE), up by 2.89% from its previous close.
The Mumbai-headquartered bank is offering shares in a price band of Rs 885-950 per share. For retail investors (those applying for Rs 1 lakh or lower amount), the bank is offering a discount of Rs 50 a share.
The minimum bid size is six equity shares for retail bidders and existing retail shareholders.
Data available with the National Stock Exchange shows that foreign institutional investors (FIIs) have placed bids for shares out of the shares reserved for qualified institutional buyers (QIBs)."Mutual Funds are sitting on good cash. This coupled with FII interest has led to oversubscription of the FPO," Kashyap Jhaveri, analyst at Emkay Share, said.The QIB portion was subscribed by 5.6 times, say sources.
"It's not surprising. The issue was expected to get good response from investors. The liquidity situation continues to be good in the Indian markets," said Jayesh Shroff, fund manager, SBI Mutual Fund.
Shares of the bank traded at Rs 944.40 on the 30-stock Sensex of the Bombay Stock Exchange(BSE), up by 2.89% from its previous close.
The Mumbai-headquartered bank is offering shares in a price band of Rs 885-950 per share. For retail investors (those applying for Rs 1 lakh or lower amount), the bank is offering a discount of Rs 50 a share.
The minimum bid size is six equity shares for retail bidders and existing retail shareholders.
Monday, June 18, 2007
Glory Polyfilms soars 75% after listing
Shares of Glory Polyfilms, a packaging material maker, rose 75% on 18 June, to Rs84 in early morning trade, against its issue price of Rs48 on the Bombay Stock Exchange.
The scrip had opened at Rs50 on listing, a premium of 4.17% over its issue price. It was last trading at Rs61.70, as 4.76 million shares exchanged hands in a market that saw the emergence of buying by funds and retail investors.
Glory Polyfilms raised over Rs39 crore in its 8.2-million share fixed price IPO that closed on 15 May. The issue proceeds will be used to part finance the expansion of multi-layer film, printing capacity and lamination film, the company said.
On the National Stock Exchange, the company’s shares opened at Rs48, its issue price. The counter saw brisk buying in the morning as the scrip touched highs of Rs84 intra-day.Shares of Glory Polyfilms were last trading at Rs60.85, up 13.7%’ as 5.56 million shares changed hands on the NSE.
The scrip had opened at Rs50 on listing, a premium of 4.17% over its issue price. It was last trading at Rs61.70, as 4.76 million shares exchanged hands in a market that saw the emergence of buying by funds and retail investors.
Glory Polyfilms raised over Rs39 crore in its 8.2-million share fixed price IPO that closed on 15 May. The issue proceeds will be used to part finance the expansion of multi-layer film, printing capacity and lamination film, the company said.
On the National Stock Exchange, the company’s shares opened at Rs48, its issue price. The counter saw brisk buying in the morning as the scrip touched highs of Rs84 intra-day.Shares of Glory Polyfilms were last trading at Rs60.85, up 13.7%’ as 5.56 million shares changed hands on the NSE.
Thursday, June 14, 2007
ICICI Bank FPO opens on June 19
The follow-on issue of ICICI Bank opens Tuesday and closes no June 22. The bank plans a domestic float and ADS issue. The price band for the issue will be fixed on Monday.
The domestic issue is for Rs 8,750 crore, with a greenshoe option of Rs 1,312.5 crore. The bank also plans an American depositary share issue of Rs 10,100 crore. Both the ADS and domestic issues will run simultaneously.
Of the total domestic float, 5 per cent will be reserved for existing retail shareholders, and they will get 5 per cent discount to issue price. However, only those shareholders who hold shares less than Rs 1 lakh in value on record date, which was June 13, will be eligible.
The offer constitutes 19.8 per cent of diluted equity, and the ADS component about 9.9 per cent of post-issue capital.The issue is being made to meet the capital adequacy requirements and augment bank's capital to fund future requirements.The bank's CAR is currently at 11.69 per cent. Post-issue it is seen at 15 per cent.
The domestic issue is for Rs 8,750 crore, with a greenshoe option of Rs 1,312.5 crore. The bank also plans an American depositary share issue of Rs 10,100 crore. Both the ADS and domestic issues will run simultaneously.
Of the total domestic float, 5 per cent will be reserved for existing retail shareholders, and they will get 5 per cent discount to issue price. However, only those shareholders who hold shares less than Rs 1 lakh in value on record date, which was June 13, will be eligible.
The offer constitutes 19.8 per cent of diluted equity, and the ADS component about 9.9 per cent of post-issue capital.The issue is being made to meet the capital adequacy requirements and augment bank's capital to fund future requirements.The bank's CAR is currently at 11.69 per cent. Post-issue it is seen at 15 per cent.
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.
Wednesday, May 16, 2007
ICICI offers 35% to small investors in public issue
ICICI Bank has set aside 35% of its domestic public issue for retail investors. Within this, 5% of the issue is set aside for retail shareholders of the bank who can buy shares at a discount to issue price. Retail shareholders can pay for subscriptions in installments against which they will receive partly paid shares. However, they stand to lose their shares, if they fail to make payments in time.
In its draft red herring prospectus, submitted to the Securities Exchange Board of India (Sebi), the bank has said that 50% of the issue is set aside for qualified institutional buyers (QIBs) while another 15% is for non-institutional bidders. The bank will raise, at least, 35% from retail individual bidders.
The bank said that it might allot the equity shares to existing retail shareholders and retail individual bidders at a differential lower price compared to the price for qualified institutional buyers and non-institutional bidders. It has stated that the differential amount will be adjusted against the balance amount payable or it would be refunded to the respective shareholders or bidders.
Read more in The Economic Times article.
In its draft red herring prospectus, submitted to the Securities Exchange Board of India (Sebi), the bank has said that 50% of the issue is set aside for qualified institutional buyers (QIBs) while another 15% is for non-institutional bidders. The bank will raise, at least, 35% from retail individual bidders.
The bank said that it might allot the equity shares to existing retail shareholders and retail individual bidders at a differential lower price compared to the price for qualified institutional buyers and non-institutional bidders. It has stated that the differential amount will be adjusted against the balance amount payable or it would be refunded to the respective shareholders or bidders.
Read more in The Economic Times article.
Friday, May 11, 2007
Over 94% IPO applications come from just 15 cities
Rajkot, is one of the five cities that on an average account for nearly 75% of the total application money deposited for each public issue entering the Indian equities market. Mumbai (accounts for nearly 30% of the total application money received), Ahmedabad (roughly 25%), New Delhi (about 9%) and Jaipur (roughly 5%) are the other cities.“If you add 10 more cities — Kolkata (4%), Baroda (3%).
Chennai, Bangalore and Bhavnagar (2% each), Surat and Jamnagar (1.5% each), Indore, Hyderabad and Chandigarh (1 % each) — to the top-five list, you would be able to say that about 94% of the total IPO application money (among retail investors and HNIs) comes from 15 IPO crazy cities in India,” said Haresh Hinduja, vice-president - IPO, Intime Spectrum Registry. “Investors from these cities are very particular about their investments. Some of them even call up share registries to gauge the response of institutional buyers to the issue,” Mr Hinduja added.
Though there has been a gradual decline in interest for IPOs, investors from Mumbai still drive the ‘IPO bandwagon’ in the country. The decline in liking for public issues is attributed to the growing influence of wealth management service providers who offer a wide array for products with healthy returns for a reasonable risk.
Read more in The Economic Times article.
Chennai, Bangalore and Bhavnagar (2% each), Surat and Jamnagar (1.5% each), Indore, Hyderabad and Chandigarh (1 % each) — to the top-five list, you would be able to say that about 94% of the total IPO application money (among retail investors and HNIs) comes from 15 IPO crazy cities in India,” said Haresh Hinduja, vice-president - IPO, Intime Spectrum Registry. “Investors from these cities are very particular about their investments. Some of them even call up share registries to gauge the response of institutional buyers to the issue,” Mr Hinduja added.
Though there has been a gradual decline in interest for IPOs, investors from Mumbai still drive the ‘IPO bandwagon’ in the country. The decline in liking for public issues is attributed to the growing influence of wealth management service providers who offer a wide array for products with healthy returns for a reasonable risk.
Read more in The Economic Times article.
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