May 2011 - Indian IPO Blog

Indian IPO Blog

Insights into investing world in India

Sunday, May 29, 2011

VMS Industries Limited IPO Grading

May 29, 2011 0
VMS Industries Limited IPO Grading
VMS Industries Limited IPO has been assigned an IPO Grade 1/5 by credit rating agency ICRA. This means that as per ICRA, the company has 'Poor Fundamentals'. ICRA assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 1 indicating poor fundamentals and IPO Grade 5 indicating strong fundamentals

VMS Industries Ltd. is engaged in the business of providing different kinds of financial and consulting services and later on diversified into the ship recycling and off-shore activities. VMS Industries has an integrated yard for ship recycling of ships and offshore business support activities, catering to customers in India and overseas

Stay tuned to Indian IPO Blog for more updates on VMS Industries Limited IPO!

Oil India Limited may come up with an FPO

May 29, 2011 0
Oil India Limited may come up with an FPO
Oil India Limited (OIL), an Indian National Oil Company, engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG, may come up with a Follow-on Public Offer (FPO) in the near future. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery Limited

Oil India Limited (OIL) had come up with an IPO in September 2009 with the issue price at Rs.1050/- per equity share. The issue price was fixed at the higher end of the price band for the IPO which was Rs.950/- to Rs.1050/- per equity share under the IPO

Oil India Ltd. IPO had received very good response especially from the QIB Category, with the IPO being oversubscribed by 30.82 times on an overall basis and 53.83 times in the QIB Category. Retail Category was subscribed by only 1.76 times

Power Finance Corporation Limited - Basis of Allotment (Retail)

May 29, 2011 0
Power Finance Corporation Limited - Basis of Allotment (Retail)
No. of Sh. 
No. of Sh.
Ratio
applied
allotted

28
28
16:33
56
29
FIRM
84
43
FIRM
112
57
FIRM
140
71
FIRM
168
86
FIRM
196
100
FIRM
224
114
FIRM
252
129
FIRM
280
143
FIRM
308
157
FIRM
336
171
FIRM
364
186
FIRM
392
200
FIRM
420
214
FIRM
448
229
FIRM
476
243
FIRM
504
257
FIRM
532
271
FIRM
560
286
FIRM
588
300
FIRM
616
314
FIRM
644
329
FIRM
672
343
FIRM
700
357
FIRM
728
371
FIRM


Addl 1 Sh
1:63
756
386
FIRM
784
400
FIRM
812
414
FIRM
840
429
FIRM
868
443
FIRM
896
457
FIRM
924
471
FIRM
952
486
FIRM
980
500
FIRM

Saturday, May 28, 2011

VMS Industries Limited IPO Information

May 28, 2011 0
VMS Industries Limited IPO Information
Issue Opens from: Monday, May 30, 2011
Issue Closes on: Thursday, June 02, 2011
Price Band: Rs.36/- to Rs.40/- per equity share
Bid Lot: 160 Equity Shares and in multiples thereof
Lead Manager: Ashika Capital Limited
Registrar: Cameo Corporate Services Limited

Friday, May 27, 2011

Timbor Home Limited IPO Details

May 27, 2011 0
Timbor Home Limited IPO Details
Issue Size: 3,690,000 Equity Shares of Rs.10/- each
Issue Opens from: Monday, May 30, 2011
Issue Closes on: Thursday, June 02, 2011
Price Band: Rs.54/- to Rs.63/- per equity share
Bid Lot: 90 Equity Shares and in multiples thereof
Lead Manager: Corporate Strategic Allianz Ltd.
Registrar: Purva Sharegistry India Pvt. Ltd.

Power Finance Corporation (PFC) FPO shares to be included from today

May 27, 2011 0
Power Finance Corporation (PFC) FPO shares to be included from today
The Equity Shares offered under Power Finance Corporation (PFC) FPO would be included in trading on the exchanges with effect from today, i.e. Friday, May 27, 2011. The FPO consisted of Fresh Issue of 17,21,65,005 Equity shares of Rs. 10/- each fully paid-up issued by way of Public Issue

Power Finance Corporation (PFC) FPO was oversubscribed 4.34 times on an overall basis and 2.00 times in the Retail Category. The Issue Price for Equity Shares offered under Power Finance Corporation (PFC) Follow-on Public Offer (FPO) is set at Rs.203/- per equity share, which is the upper end of the price band of Rs.193/- to Rs.203/- per equity share

Stay tuned for latest updates on  Power Finance Corporation (PFC) FPO!

Wednesday, May 25, 2011

Power Finance Corporation FPO Allotment Status

May 25, 2011 0
Power Finance Corporation FPO Allotment Status
Power Finance Corporation (PFC) FPO Allotment Status is declared online and can be checked at the link provided below

Click here to check PFC FPO Allotment Status now!

Power Finance Corporation (PFC) FPO was oversubscribed 4.34 times on an overall basis and 2.00 times in the Retail Category. The Issue Price for Equity Shares offered under Power Finance Corporation (PFC) Follow-on Public Offer (FPO) is set at Rs.203/- per equity share, which is the upper end of the price band of Rs.193/- to Rs.203/- per equity share

Saturday, May 21, 2011

Sanghvi Forging Limited IPO Listing Date

May 21, 2011 0
Sanghvi Forging Limited IPO Listing Date
The Equity Shares of Sanghvi Forging Limited will be listed and admitted to the dealings on the exchanges with effect from Monday, May 23, 2011.

The subscription to the Sanghvi Forging and Engineering IPO was not very high with the IPO just managing to sail through with subscription of 1.30 times on an overall basis, inspite of no support from the QIB Category

The HNI Category got an average subscription at 1.82 times the number of shares reserved, but it was the Retail Category that received bids for 47,36,620 Equity Shares, as against 16,14,384 Equity Shares being reserved for the category, thereby taking the subscription in the category to 2.93 times

Stay tuned for the listing day updates on Sanghvi Forging Limited IPO!

Power Finance Corporation (PFC) FPO Allotment Status

May 21, 2011 0
Power Finance Corporation (PFC) FPO Allotment Status
Power Finance Corporation (PFC) FPO Allotment Status is expected to be declared online in about 1-2 days. Stay tuned to this post and Indian IPO Blog for the latest update on Power Finance Corporation (PFC) FPO Allotment Status

Power Finance Corporation (PFC) FPO was oversubscribed 4.34 times on an overall basis and 2.00 times in the Retail Category. The Issue Price for Equity Shares offered under Power Finance Corporation (PFC) Follow-on Public Offer (FPO) is set at Rs.203/- per equity share, which is the upper end of the price band of Rs.193/- to Rs.203/- per equity share


Update:Power Finance Corporation FPO Allotment Status

Thursday, May 19, 2011

Sanghvi Forging and Engineering IPO - Allotment Status declared

May 19, 2011 0
Sanghvi Forging and Engineering IPO - Allotment Status declared

Galaxy Surfactants withdraws its IPO

May 19, 2011 0
Galaxy Surfactants withdraws its IPO
Galaxy Surfactants Limited has withdrawn its IPO, which was scheduled to close for subscription today on May 19, 2011 for categories other than QIB. The IPO had closed for subscription for QIB Investors yesterday on May 18, 2011 and had not managed to garner good support with the IPO getting subscribed barely 30 percent on an overall basis and about 0.59 times in the QIB Category

According the data available on the NSE website, out of the 20,75,500 Equity Shares reserved in the QIB category, Galaxy Surfactants Limited IPO had received bids for 12,26,400 Equity Shares in the category, out of which bids for 10,00,060 shares came from Foreign Institutional Investors (FIIs), 2,05,800 from Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) and bids for 20,540 Equity Shares came from others. No bids were received in the QIB category came from Mutual Funds

For the shares to be listed on the exchanges, there should be a minimum of 90% subscription to the IPO whereas Galaxy Surfactants Limited IPO managed to get only 30% subscription. Motilal Oswal Investment Advisors Private Limited and Centrum Capital Limited were the book running lead managers to the Issue

Vaswani Industries Limited Listing withheld

May 19, 2011 0
Vaswani Industries Limited Listing withheld
SEBI has withheld the listing of Vaswani Industries Limited due to complaints over irregularities related to allotment of shares post its Initial Public Offering (IPO)

Vaswani Industries Limited IPO, which closed for subscription on Tuesday, May 03, 2011, had received subscription of 4.16 times on an overall basis. The IPO, which consisted of 1,00,00,000 Equity Shares of Rs.10/- each, had opened for subscription from Friday, April 29, 2011.

Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets and Ingots and power generation

Retail Investors to get discount at the time of application itself

May 19, 2011 0
Retail Investors to get discount at the time of application itself
Retail Investors planning to invest in IPOs have a bit of good news coming their way with the market regulator Securities and Exchange Board of India (SEBI) announcing vide a circular that discounts being offered to retail investors in a public issue should be adjusted for at the time of filing the application itself

Many companies raising capital in the market, particularly Government-owned companies and PSUs, offer a discount to Retail Investors and Eligible Employees. However, it is to be noted that the discount is offered on the final issue price of the IPO or the FPO, which is generally fixed after the issue closes for subscription. Consequently, what happens is that although there is a discount declared for the Retail Investors, they still have to pay in or block the entire amount at the time of applying for the IPO or FPO. The discount is given at the time of allotting the shares and consequently, the extra amount is refunded (or released in case of ASBA). This, however, will not be the same with the aforesaid circular coming into picture. Retail Investors will now be able to avail this discount at the time of making the payment itself while applying in any IPO or FPO

This rule would be applicable on public offer documents filed on or after June 15, 2011. What the move would also mean for the Retail Investors is that now for the same amount of money, the Retail Investors would be able to buy slightly higher number of shares in an IPO or FPO

Wednesday, May 18, 2011

Galaxy Surfactants Limited IPO closes for QIB, scarcely subscribed at 0.30 times till now

May 18, 2011 0
Galaxy Surfactants Limited IPO closes for QIB, scarcely subscribed at 0.30 times till now
Galaxy Surfactants Limited IPO, which closed for subscription today for QIB Investors, has been thinly subscribed with the IPO receiving 30% subscription till now on an overall basis

According the data available on the NSE website, out of the 20,75,500 Equity Shares reserved in the QIB category, Galaxy Surfactants Limited IPO has received bids for 12,26,400 Equity Shares in the category, out of which bids for 10,00,060 shares came from Foreign Institutional Investors (FIIs), 2,05,800 from Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) and bids for 20,540 Equity Shares came from others. No bids received in the QIB category came from Mutual Funds

As far as the subscription from the other categories goes, there has hardly been an active response from the investors with the IPO getting only 0.04 times or 4 percent subscription in the HNI Category, while the Retail Investors has been covered 11% till now. Galaxy Surfactants Limited IPO closes for subscription for categories other the QIB tomorrow, i.e. on Thursday, May 19, 2011. Check back Indian IPO Blog for latest subscription status updates on the IPO!

Galaxy Surfactants Limited IPO - Bidding Status as on Wednesday, May 18, 2011 1700 hrs IST

May 18, 2011 0
Galaxy Surfactants Limited IPO - Bidding Status as on Wednesday, May 18, 2011 1700 hrs IST

Monday, May 16, 2011

Galaxy Surfactants IPO subscription remains poor till Day 2

May 16, 2011 0
Galaxy Surfactants IPO subscription remains poor till Day 2
Galaxy Surfactants IPO, which opened for subscription from Friday, May 13, 2011, has not managed to garner the interest of investors. The IPO is barely bid 3% till Monday, May 16, 2011, which was Day 2 of the IPO

The Equity Shares of Galaxy Surfactants Limited are offered under the IPO in a Price Band of Rs.325/- to Rs.340/- per equity share with a bid lot of 20 Equity shares and in multiples thereof

The IPO has received bids for 23940 Equity Shares in the HNI Category, as against 889500 Equity Shares being reserved for the category, thus making the category bid 0.03 times. The subscription status of the Retail Category is not much different with the category subscribed only 5% or 0.05 times. No bids have been received from the QIB category so far

Stay tuned to Indian IPO Blog for the latest updates on Galaxy Surfactants IPO!

Sunday, May 15, 2011

Power Finance FPO Issue Price set at upper end of Price Band

May 15, 2011 0
Power Finance FPO Issue Price set at upper end of Price Band
The Issue Price for Equity Shares offered under Power Finance Corporation (PFC) Follow-on Public Offer (FPO) is set at Rs.203/- per equity share, which is the upper end of the price band of Rs.193/- to Rs.203/- per equity share

Retail Investors and Eligible Employees will get a 5% discount on the Issue Price, which means that these categories of investors would get equity shares at Rs.192.85 per equity share. Power Finance Corporation (PFC) FPO, which closed for subscription on Friday, May 13, 2011 was subscribed 4.34 times on an overall basis and 2.00 times in the Retail Category. The Employees portion was bid 0.91 times

Stay tuned for the latest updates on Power Finance Corporation (PFC) Allotment Status, Power Finance Corporation (PFC) Listing Dates and more details on the FPO!

Saturday, May 14, 2011

Galaxy Surfactants IPO gets negligible subscription on the opening day

May 14, 2011 0
Galaxy Surfactants IPO gets negligible subscription on the opening day
Galaxy Surfactants IPO, which opened for subscription from Friday, May 13, 2011, received terribly poor response on the opening day, with the IPO receiving bids for only 1160 Equity Shares in the HNI Category and 12760 Equity Shares in the Retail Category with no bids received from the QIB Investors

The IPO consists of 59,30,000 Equity Shares of Rs. 10/- each [including anchor portion of 889,500 equity shares]. The number of shares offered / reserved in the QIB Category are 20,75,500, in the HNI Category 889,500 shares and in the Retail Category, the number of shares offered / reserved are 20,75,500

The Equity Shares are offered in a Price Band of Rs.325/- to Rs.340/- per equity share with a bid lot of 20 Equity Shares and in multiples thereof. The IPO would remain open for subscription till Wednesday, May 18, 2011 for QIB Investors and till Thursday, May 19, 2011 for other categories of investores

Galaxy Surfactants Limited is engaged in the business of manufacturers and marketers of surfactants and specialty chemicals in India for the Personal and Home Care industry. Galaxy Surfactants produce a range of cosmetic ingredients including active ingredients, UV protection and functional products. Company's products used by many large FMCG companies in skin care, hair care, oral care, body wash, sun care, household cleaners and fabric care products

Innoventive Industries Limited closes at Rs.93.60 on Listing Day

May 14, 2011 0
Innoventive Industries Limited closes at Rs.93.60 on Listing Day
Innoventive Industries Limited, which listed its equity shares offered under IPO on Friday, May 13, 2011, had a disheartening listing day with the share opening at Rs.110/- on the BSE as against the Issue Price of Rs.117/- per share.

Innoventive Industries Limited touched an Intra-day High of Rs.114.85 and and Intra-day Low of Rs.86.30 on the BSE before closing the listing day at Rs.93.60, at a 20% discount to the Issue Price

Innoventive Industries Ltd. is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products used in different sectors such as transportation, oil & gas, power, farm equipments and general engineering. Innoventive have also developed hydraulic cylinder tubes, rubber to metal products and profiled tubes in house

Power Finance Corporation (PFC) FPO finally oversubscribed 4.34 times

May 14, 2011 0
Power Finance Corporation (PFC) FPO finally oversubscribed 4.34 times
Power Finance Corporation (PFC) FPO, which closed for subscription on Friday, May 13, 2011, received a good response and finally was subscribed 4.34 times on an overall basis

The IPO was oversubscribed 6.92 times in the QIB category, with the IPO receiving bids for a total of 793573340 Equity Shares in the QIB category as against 114638937 Equity Shares reserved for the category

Although the Retail and HNI subscriptions had remained low for the first three days of opening of the IPO, the same picked up on the closing day and the two categories got subscribed 2.00 times and 1.20 times respectively. The Employees portion was bid 0.91 times

Check back Indian IPO Blog for Power Finance Corporation (PFC) FPO Allotment Status, Power Finance Corporation (PFC) FPO Listing Dates and other updates on Power Finance Corporation (PFC) FPO!

Galaxy Surfactants IPO Rating from CRISIL

May 14, 2011 0
Galaxy Surfactants IPO Rating from CRISIL
CRISIL has assigned an IPO Grade 4/5 to Galaxy Surfactants IPO. CRISIL assigns IPO grades on a scale of IPO Grade 1 to IPO Grade 5 with IPO Grade 1 indicating poor fundamentals and IPO Grade 5 indicating strong fundamentals. An IPO Grade 4 assigned to an IPO indicates that the fundamentals of the IPO are above average relative to the other listed equity securities in India

According to the grading report of CRISIL, The assigned grade takes into account good prospects for surfactants, especially in India and emerging markets, driven by strong growth in end-user personal and home care segments in an improved economic environment. The grade reflects Galaxy’s dominant position in the Indian market (more than 60% market share in its range of personal care performance chemicals). It also reflects favourable business prospects arising from capacity expansion in Egypt to cater to the demand in high-growth markets of Africa, Middle East and Latin America

The report also adds that the grade is moderated by the high client concentration risk faced by the company. Also, the timely execution of its first manufacturing facility in the international market remains a key monitorable. Galaxy is a relatively small company in the global surfactant market with a market share of less than 1% and it faces stiff competition from large and diversified global players. Its ability to withstand strong competition remains a key monitorable too

Click here to download the IPO Grading Document for Galaxy Surfactants Ltd. from CRISIL

Power Finance Corporation Limited FPO - Final Subscription Status

May 14, 2011 0
Power Finance Corporation Limited FPO - Final Subscription Status

Galaxy Surfactants IPO - Bidding Status as on Day 1, i.e. Friday, May 13, 2011 1700 hrs IST

May 14, 2011 0
Galaxy Surfactants IPO - Bidding Status as on Day 1, i.e. Friday, May 13, 2011 1700 hrs IST

Galaxy Surfactants IPO Details

May 14, 2011 0
Galaxy Surfactants IPO Details
Issue Size: 5,930,000 Equity Shares of Rs. 10/- each
Issue Opens from: Friday, May 13, 2011 - May 19, 2011
Issue Closes on: Thursday, May 19, 2011 (For QIB, Issue closes on Wednesday, May 18, 2011)
Price Band: Rs.325/- to Rs.340/- per equity share
Bid Lot: 20 Equity Shares and in multiples thereof
Lead Managers: Centrum Capital Ltd., Motilal Oswal Investments Advisors Pvt. Ltd.
Registrar: Link Intime India Pvt. Ltd.

Aanjaneya Lifecare IPO - Final Subscription Status

May 14, 2011 0
Aanjaneya Lifecare IPO - Final Subscription Status

Wednesday, May 11, 2011

Innoventive Industries Limited to list its shares on Friday, May 13, 2011

May 11, 2011 0
Innoventive Industries Limited to list its shares on Friday, May 13, 2011
The Equity Shares of Innoventive Industries Limited would be listed and admitted to the dealings on the exchanges with effect from Friday, May 13, 2011. Innoventive Industries Limited is a Pune based multiproduct engineering company

Earlier, Innoventive Industries IPO had fixed the Issue Price of the IPO at Rs.117/- per equity share, which is at the lower end of the Price Band of Rs.117/- to Rs.120/- per equity share. Innoventive Industries Ltd. is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products used in different sectors such as transportation, oil & gas, power, farm equipments and general engineering. Innoventive have also developed hydraulic cylinder tubes, rubber to metal products and profiled tubes in house

The IPO of Innoventive Industries IPO was assigned an IPO Grade 3/5 by ICRA. This indicates that the company has 'Average Fundamentals'. Innoventive Industries IPO was subscribed 1.24 times on an overall basis with Retail Category getting subscription to the tune of 1.94 times. However, the QIB Investors had not shown too much interest in the IPO with the category getting bid only 0.85 times

Check back Indian IPO Blog for the listing day updates on Innoventive Industries Limited IPO!

Servalakshmi Paper IPO Listing Date

May 11, 2011 0
Servalakshmi Paper IPO Listing Date
Servalakshmi Paper Limited will list its equity shares on Thursday, May 12, 2011. Servalakshmi Paper Limited had come up with an IPO in a price band of Rs.27/- to Rs.29/- per equity share, having a Face Value of Rs.10/- each

The Objects of the issue are to meet expenditure for purchase of equipments for value added products, meeting long term working capital requirement and meeting preliminary and pre-operative expenses

The IPO was bid 1.47 times on an overall basis and 1.90 times in the Retail Category. Stay tuned to Indian IPO Blog for the latest updates on Servalakshmi Paper Limited IPO!

Power Finance Corporation FPO - Bidding Status till Day 2

May 11, 2011 0
Power Finance Corporation FPO - Bidding Status till Day 2

Aanjaneya Lifecare IPO - Bidding Status on Day 2

May 11, 2011 0
Aanjaneya Lifecare IPO - Bidding Status on Day 2

Tuesday, May 10, 2011

Power Finance Corporation FPO - Bidding Status on Day 1

May 10, 2011 0
Power Finance Corporation FPO - Bidding Status on Day 1

Aanjaneya Lifecare IPO - Bidding Status on Day 1

May 10, 2011 0
Aanjaneya Lifecare IPO - Bidding Status on Day 1

Future Ventures India plunges on Listing Day

May 10, 2011 0
Future Ventures India plunges on Listing Day
Future Ventures India Limited, which listed on the exchanges today, had a terrible listing today, a story which is now increasingly becoming familiar with most of these small tick IPOs that hit the streets. The Price Band for Future Ventures India Limited IPO was fixed at Rs.10/- to Rs.11/- per equity share and the Issue Price was fixed at the lower end of the price band at par with the Face Value of shares

Future Ventures India Limited opened at a discount in the first place, and even went on to take a dip upto Rs.7.95 as the Intra-day Low on the BSE, before closing at Rs.8.30 on the BSE and Rs.8.25 on the NSE. The share failed to get into premium over the Issue Price at any point during the trade and only managed to touch Rs.9.50 as the Intra-day High on the BSE and Rs.9.65 on the NSE. The Total Traded Value was Rs.64.91 crores on the BSE with an aggregate of 7,60,01,845 Equity Shares being traded on the listing day

Future Ventures India Limited plans to use a part of the proceeds from the IPO for acquiring new businesses and another part to grow the existing businesses. Although below par listing was anticipated by many, the relatively poor response to the IPO coupled with a terrible listing day seems to have left a bad taste in the mouth of most investors

Power Finance Corporation FPO opens today

May 10, 2011 0
Power Finance Corporation FPO opens today
Power Finance Corporation Limited, the state-run Navratna Financial Institution, is coming up with a Follow-on Public Offer (FPO), which opens for subscription from today

PFC was set up in July 1986 as a Financial Institution (FI) dedicated to Power Sector financing and committed to the integrated development of the power and associated sectors. The Corporation was notified as a Public Financial Institution in 1990 under Companies Act, 1956. The Corporation was registered as a on Banking Financial Company by RBI and has been  conferred with the status of  Nav-Ratna PSU by Govt. of India on 22nd June, 2007

Power Finance Corporation FPO Price Band has been fixed at Rs.193/- to Rs.203/- per equity share. The shares of Power Finance Corporation Limited are currently listed on both the exchanges. Stay tuned to Indian IPO Blog for the latest updates on the FPO!

Monday, May 9, 2011

Future Ventures to list on Tuesday, May 10, 2011

May 09, 2011 0
Future Ventures to list on Tuesday, May 10, 2011
The Equity Shares of Future Ventures Limited would be listed on the exchanges with effect from Tuesday, May 10, 2011. Future Ventures India Limited had set the Issue Price for Equity Shares offered under its Initial Public Offering (IPO) at Rs.10/-, i.e. at par with the Face Value of the Equity Shares. The Price Band for the IPO was set at Rs.10/- to Rs.11/- per equity share for shares having a Face Value of Rs.10/- each

Future Ventures India IPO was subscribed 1.52 times on an overall basis with main support coming only from the HNI Category which was overbid 7.81 times. The QIB and Retail Category were not subscribed fully with the two categories getting subscriptions of 0.26 times and 0.61 times respectively

With low subscriptions from the QIB and Retail categories, if substantial selling pressure builds up, Future Ventures may struggle to hold on above its Face Value. Check back Indian IPO Blog for listing day price movements and updates on Future Ventures Limited

Paramount Printpackaging IPO crashes on listing day, closes 24% below Issue Price on BSE

May 09, 2011 0
Paramount Printpackaging IPO crashes on listing day, closes 24% below Issue Price on BSE
Paramount Printpackaging Ltd., which listed on the exchanges today, closed 24% below its issue price. Paramount Printpackaging Ltd. opened on the BSE at its Issue Price under the IPO at Rs.35/- per share and also did manage to maintain a marginal premium on the Issue Price during the first half of the trade. However post 2PM, it crumbled under heavy selling pressure and even touched Rs.24.60 as its Intra-day low, before closing the listing day at Rs.26.65

Paramount Printpackaging Ltd. most certainly disappointed listing gainers with the share never going beyond Rs.37.50, which was the Intra-day high price on the BSE. The price band for the 13,094,175 Equity Shares of Rs.10/- each offered under the IPO was set at Rs.32/- to Rs.35/- per equity share with a minimum order quantity or the bid lot of 150 Equity Shares and in multiples thereof

It is worthwhile to recall that although the overall subscription figure of the IPO was around 4 times, the IPO was subscribed only 0.33 times in the QIB category, while the Retail Category was oversubscribed by a startling 9.31 times. With such a bleak participation from the QIB Investors, and somewhat moderate subscription from HNI category, such high retail participation was quite an anomaly

Sanghvi Forging and Engineering IPO barely through

May 09, 2011 0
Sanghvi Forging and Engineering IPO barely through
Sanghvi Forging and Engineering IPO, which closed for subscription today, finally managed to sail through its subscription with the IPO subscribed 1.30 times on an overall basis, inspite of no support from the QIB Category.

The HNI Category got an average subscription at 1.82 times the number of shares reserved, but it was the Retail Category that received bids for 47,36,620 Equity Shares, as against 16,14,384 Equity Shares being reserved for the category, thereby taking the subscription in the category to 2.93 times

Stay tuned for the latest updates on Sanghvi Forging and Engineering IPO!

Sunday, May 8, 2011

Oil and Natural Gas Corporation FPO to open in July 2011

May 08, 2011 0
Oil and Natural Gas Corporation FPO to open in July 2011
The Follow-on Public Offer (FPO) of Oil and Natural Gas Corporation Limited (ONGC) may open for subscription in July 2011. ONGC is involved in exploring for and exploiting hydrocarbons in sedimentary basins of India. It owns and operates more than 11,000 kilometres of pipelines in India. ONGC contributes significantly to India's crude oil production and natural gas production


Oil and Natural Gas Corporation Limited (ONGC) is Asia's largest and most active company involved in exploration and production of oil. The Company has not yet filed its DRHP with SEBI for the proposed FPO

In a move towards the FPO, Oil and Natural Gas Corporation (ONGC) Board had earlier undergone sub division of each Equity Share of the Company of Rs.10/- each fully paid up into two equity shares of Rs.5/- each fully paid up. The Company had also issued Bonus shares in the proportion of one new Equity Share of Rs.5/- each as a Bonus for every one existing Equity Share of Rs.5/- each fully paid up by capitalization of reserves

Stay tuned for the latest updates on ONGC FPO!

Sanghvi Forging and Engineering IPO closes tomorrow, fragile subscription till now

May 08, 2011 0
Sanghvi Forging and Engineering IPO closes tomorrow, fragile subscription till now
Sanghvi Forging and Engineering IPO, which had opened for subscription from Wednesday, May 04, 2011, has received very scant response till Friday, May 06, 2011, when the IPO closed for subscription for the QIB Investors.

Sanghvi Forging and Engineering IPO has been bid 0.16 times on an overall basis with no support from the QIB Category. The HNI as well as the Retail categories have also seen slim subscriptions with the two categories covered 45% and 27% respectively

Sanghvi Forging and Engineering IPO closes for subscription tomorrow, i.e. on Monday, May 09, 2011. It would be interesting to see whether the IPO would manage to get through or not particularly in view of no interest being shown from QIB category of investors. Sanghvi Forging and Engineering Limited (SFEL), an ISO 9001:2008 Certified Indian company, is engaged in the manufacture and marketing of Stainless Steel Forged and Machined Subtends, Forged Flanges, Forged Fittings and CNC Machined Forged Parts and Automobile Components in India, since 1990

The Equity Shares are being offered in a Price Band of Rs.80/- to Rs.85/- per equity share for shares having a Face Value of Rs.10/- each. The proceeds from the Issue are proposed to be utilized for financing the cost of setting up open die forging unit and for meeting working capital requirements for the new project and for pre-operative expenses including issue expenses

Check back Indian IPO Blog for the latest subscription status updates on Sanghvi Forging and Engineering IPO!

Innoventive Industries IPO Issue Price fixed at lower end of Price Band

May 08, 2011 0
Innoventive Industries IPO Issue Price fixed at lower end of Price Band
Innoventive Industries IPO has fixed its Issue Price at Rs.117/- per equity share, which is at the lower end of the Price Band of Rs.117/- to Rs.120/- per equity share

Innoventive Industries Ltd. is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products used in different sectors such as transportation, oil & gas, power, farm equipments and general engineering. Innoventive have also developed hydraulic cylinder tubes, rubber to metal products and profiled tubes in house

Stay tuned to Indian IPO Blog for the latest updates on Innoventive Industries IPO!

Sanghvi Forging and Engineering IPO - Bidding Status on Day 3

May 08, 2011 0
Sanghvi Forging and Engineering IPO - Bidding Status on Day 3

Friday, May 6, 2011

Power Finance Corporation FPO Price Band

May 06, 2011 0
Power Finance Corporation FPO Price Band
Power Finance Corporation FPO Price Band has been fixed at Rs.193/- to Rs.203/- per equity share. The shares of Power Finance Corporation Limited are currently listed on both the exchanges. Power Finance Corporation FPO would open for subscription from Tuesday, May 10, 2011

PFC was set up in July 1986 as a Financial Institution (FI) dedicated to Power Sector financing and committed to the integrated development of the power and associated sectors. The Corporation was notified as a Public Financial Institution in 1990 under Companies Act, 1956. The Corporation was registered as a on Banking Financial Company by RBI and has been  conferred with the status of  Nav-Ratna PSU by Govt. of India on 22nd June, 2007

The Price Band was announced on Friday, May 06, 2011 when the closing market price of Power Finance Corporation Limited was Rs.214.55 on the BSE

Muthoot Finance disappoints listing gainers, fails to touch Rs.200 level

May 06, 2011 0
Muthoot Finance disappoints listing gainers, fails to touch Rs.200 level
Muthoot Finance Limited, which listed its shares on the exchanges today, brought little cheer to investors who expected the stock to list above Rs.200. The share opened at Rs.180 on the BSE, at a marginal premium of 2.85% over its Issue Price of Rs.175/- per share.

Although the share did hover around Rs.190 for first few minutes of trade, but subsequently slid down to levels near its Issue Price. It even went on to take a dip up significantly below par to level of Rs.161.50 as the Intra-day low on the BSE, before closing at Rs.176.25 on the BSE, at a negligible premium of 0.71% on the Issue Price

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio, according to IMaCS Industry Report (2010 Update). It provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements

Muthoot Finance Limited debuts at a low profile

May 06, 2011 0
Muthoot Finance Limited debuts at a low profile
Muthoot Finance Limited, which listed on the exchanges today, failed to meet the listing gains expectations of many investors when the IPO opened at Rs.180/- on the BSE at a tiny premium of Rs.5/- per equity share. Although the IPO did hover around Rs.190/- levels for quite sometime, but eventually slid below that to nearly its issue price of Rs.175/- per share

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio, according to IMaCS Industry Report (2010 Update). It provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements

Stay tuned to Indian IPO Blog for more on Muthoot Finance Limited IPO!

Thursday, May 5, 2011

Sanghvi Forging IPO fails to grab attention on second day as well

May 05, 2011 0
Sanghvi Forging IPO fails to grab attention on second day as well
Sanghvi Forging and Engineering IPO, which opened for subscription from Wednesday, May 04, 2011, has not managed to grab the attention of the investors on the second day of its opening as well. Sanghvi Forging and Engineering IPO has been bid about 0.13 times till Day 2 of its opening

The IPO has received marginal bids in the Retail Category so far, which is subscribed around 19 percent till now. With almost no response shown from the QIB investors, it would be interesting to note how the subscription goes for the IPO in the QIB Category today as the IPO closes for subscription for that category today. For other investors, the IPO would remain open for subscription till Monday, May 09, 2011

Stay tuned to Indian IPO Blog for the latest updates on the IPO!

Indian Bank FPO may come up by October 2011

May 05, 2011 0
Indian Bank FPO may come up by October 2011
The proposed Follow-on Public Offer of Indian Bank may hit the markets by October 2011. Indian Bank plans to raise around Rs.1500 crore through the FPO. Currently, the majority of the stake, about 80% is held by the Government, which is expected to come down to about 9% post the Follow-on Public Offer.

Indian Bank is a premier bank owned by the Government of India, which was established on 15th August 1907 as part of the Swadeshi movement. Indian Bank has not yet filed the Draft Red Herring Prospectus (DRHP) with SEBI for its proposed FPO and has also not decided on the appointment of lead managers for the offer as yet


Earlier, Indian Bank had come up with an IPO in 2007, which was subscribed 32.16 times on an overall basis with about 3.16 times subscription in the Retail Category


Check back Indian IPO Blog for the latest updates on Indian Bank FPO!

Future Ventures India Limited IPO Issue Price set at Face Value

May 05, 2011 0
Future Ventures India Limited IPO Issue Price set at Face Value
Future Ventures India Limited has set the Issue Price for Equity Shares offered under its Initial Public Offering (IPO) at Rs.10/-, i.e. at par with the Face Value of the Equity Shares. The Price Band for the IPO was set at Rs.10/- to Rs.11/- per equity share for shares having a Face Value of Rs.10/- each

Future Ventures India IPO was subscribed 1.52 times on an overall basis with main support coming only from the HNI Category which was overbid 7.81 times. The QIB and Retail Category were not subscribed fully with the two categories getting subscriptions of 0.26 times and 0.61 times respectively

Stay tuned for Listing Dates and other updates on Future Ventures India IPO!

Aanjaneya Lifecare Limited to launch its IPO from May 09, 2011

May 05, 2011 0
Aanjaneya Lifecare Limited to launch its IPO from May 09, 2011
Aanjaneya Lifecare Limited is coming up with an Initial Public Offering (IPO) of 5,000,000 Equity Shares, having a Face Value of Rs.10/- each, which would open for subscription from Monday, May 09, 2011. The IPO would remain open for subscription till Thursday, May 12, 2011

Aanjaneya Lifecare Limited was incorporated in 2006 and is a leading research based integrated pharmaceutical company with established research, manufacturing and marketing capabilities. Anand Rathi Advisors Limited and IDBI Capital Market Services Limited are the Book Running Lead Managers to the issue, while Link Intime India Pvt. Ltd. is the Registrar to the Issue

Stay tuned for the latest updates on Aanjaneya Lifecare Limited IPO!

Wednesday, May 4, 2011

Muthoot Finance Limited to list on "Akshaya Tritiya"

May 04, 2011 0
Muthoot Finance Limited to list on "Akshaya Tritiya"
The Equity Shares of Muthoot Finance Limited, which has recently raised funds through an IPO, would be listed and admitted to the dealings on the exchange with effect from Friday, May 06, 2011, which also happens to be "Akshaya Tritiya" or "Akha Teej", one of the most auspicious days of the Hindu Calendar

The equity shares of Muthoot Finance Limited will be listed and admitted to dealings on the Exchanges in the list of ‘B’ Group of Securities. The Issue Price of shares offered under Muthoot Finance IPO was fixed at Rs. 175/- per share (Face Value of Rs.10/- and premium of Rs. 165/- per equity share)

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio, according to IMaCS Industry Report (2010 Update). It provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements

Muthoot Finance IPO Allotment and Refund Status

May 04, 2011 0
Muthoot Finance IPO Allotment and Refund Status
Muthoot Finance IPO Allotment or Refund Status can be checked online at the website of the Registrar from the link provided below:

Click here to check out this status now!

Note: The Registrar's website was earlier facing some technical problems due to which many users were not able to check their allotment status online. The link given above is now updated to direct to a new URL on registrar's website. The allotment status can also be ascertained by checking the respective demat account since allotted shares would have been credited in the demat account (Related post: Muthoot Finance Limited IPO Allotment Status for ASBA Applicants)

Sanghvi Forging and Engineering IPO - Bidding Status on Day 1

May 04, 2011 0
Sanghvi Forging and Engineering IPO - Bidding Status on Day 1

Servalakshmi Paper IPO Issue Price set

May 04, 2011 0
Servalakshmi Paper IPO Issue Price set
Servalakshmi Paper IPO Issue Price set at Rs.29/- per equity share, i.e. at the upper end of the Price Band, which was of Rs.27/- to Rs.29/- per equity share

Earlier, Servalakshmi Paper IPO had been assigned an IPO Grade 2/5 by credit rating agency ICRA. The grade indicates that the fundamentals of the company are comparatively "Below Average". Servalakshmi Paper Limited is engaged in the business of manufacturing Printing & Writing Paper and Newsprint

Stay tuned to Indian IPO Blog for latest updates on Servalakshmi Paper IPO!

Sanghvi Forging and Engineering IPO Details

May 04, 2011 0
Sanghvi Forging and Engineering IPO Details
Issue Opens from: Wednesday, May 04, 2011 - May 09, 2011

Issue Closes on: Monday, May 09, 2011
(For QIB Category, Issue closes on Friday, May 06, 2011)

Price Band: Rs.80/- to Rs.85/- per equity share

Bid Lot: 70 Equity Shares and in multiples thereof

Lead Manager: Arihant Capital Markets Ltd.

Registrar: Bigshare Services Pvt. Ltd.

Sanghvi Forging and Engineering IPO opens for subscription

May 04, 2011 0
Sanghvi Forging and Engineering IPO opens for subscription
The IPO of Sanghvi Forging and Engineering Limited (SFEL), engaged in the business of manufacture and marketing of stainless steel forged and machined subtends, forged flanges, forged fittings, CNC machined forged parts and automobile components, has opened for subscription from today

The Equity Shares are being offered in a Price Band of Rs.80/- to Rs.85/- per equity share for shares having a Face Value of Rs.10/- each. The proceeds from the Issue are proposed to be utilized for financing the cost of setting up open die forging unit and for meeting working capital requirements for the new project and for pre-operative expenses including issue expenses

Sanghvi Forging and Engineering Limited (SFEL) IPO would remain open for subscription till Monday, May 09, 2011. However, for QIB Category of Investors, Issue closes on Friday, May 06, 2011. Stay tuned to Indian IPO Blog for latest subscription status updates

Tuesday, May 3, 2011

Vaswani Industries Limited IPO subscribed 4.16 times

May 03, 2011 0
Vaswani Industries Limited IPO subscribed 4.16 times
Vaswani Industries Limited IPO, which closed for subscription today on Tuesday, May 03, 2011, has received a decent response with the IPO getting overbid 4.16 times on an overall basis. The IPO, which consisted of 1,00,00,000 Equity Shares of Rs.10/- each, had opened for subscription from Friday, April 29, 2011

A look at the category-wise subscription is quite noteworthy. The subscription from the Retail Category has blossomed on the closing day of the IPO with the IPO getting subscribed around 6.82 times as compared to only 0.43 times till Day 2 of the IPO, i.e. till Monday, May 02, 2011. On the other hand, the QIB Investors have largely remain averse with only 16 percent subscription in the QIB Category

Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets and Ingots and power generation

Muthoot Finance IPO - Basis of Allotment (Retail Category)

May 03, 2011 0
Muthoot Finance IPO - Basis of Allotment (Retail Category)
Format: Applied - Allotted - Ratio


40 Sh - 40 Sh - 11:94

80 Sh - 40 Sh - 17:71

120 Sh - 40 Sh - 32:89

160 Sh - 40 Sh - 23:48

200 Sh - 40 Sh - 58:97

240 Sh - 40 Sh - 23:32

280 Sh - 40 Sh - 31:37

320 Sh - 40 Sh - 23:24

360 Sh - 43 Sh - FIRM

400 Sh  - 48 Sh - FIRM

440 Sh - 53 Sh - FIRM

480 Sh - 57 Sh - FIRM

520 Sh - 62 Sh - FIRM

560 Sh - 67 Sh - FIRM

600 Sh - 72 Sh - FIRM

640 Sh - 77 Sh - FIRM

680 Sh - 81 Sh - FIRM

720 Sh - 86 Sh - FIRM

760 Sh - 91 Sh - FIRM

800 Sh - 96 Sh - FIRM

840 Sh - 101 Sh - FIRM

880 Sh - 105 Sh - FIRM

920 Sh - 110 Sh - FIRM

960 Sh - 115 Sh - FIRM

1000 Sh - 120 Sh - FIRM

1040 Sh - 125 Sh - FIRM

1080 Sh - 129 Sh - FIRM

1120 Sh - 134 Sh - FIRM + 1 share in the ratio of 9:79.

Muthoot Finance Limited IPO Allotment Status for ASBA Applicants

May 03, 2011 0
Muthoot Finance Limited IPO Allotment Status for ASBA Applicants
Muthoot Finance Limited IPO Allotment Status can also be ascertained by ASBA Applicants by checking their respective bank accounts. The amount for the number of shares allotted would be debited in the bank account and the lien amount would be lifted

Muthoot Finance Limited IPO Allotment Status is also declared on the website of the Registrar to the Issue. Click here to find out more on Muthoot Finance Limited IPO Allotment Status at the Registrar's website

Muthoot Finance IPO Allotment Status declared

May 03, 2011 0
Muthoot Finance IPO Allotment Status declared
Muthoot Finance IPO Allotment Status is declared and can now be checked online

Click here to check out this status now!

Note: The Registrar's website is facing some temporary technical problems due to which the page may load slowly at times. If you've applied through ASBA route, you can check your bank account for the respective debit for the number of shares allotted (Related post: Muthoot Finance Limited IPO Allotment Status for ASBA Applicants)


The IPO, which closed for subscription on on Thursday, April 21, 2011, had received a wonderful response from investors with the IPO getting subscribed 24.55 times on an overall basis with bids received for 1,07,46,26,600 Equity Shares as against the Total Issue Size of 4,37,75,000 Equity Shares. The QIB portion of the issue was oversubscribed by 25.01 times

Muthoot Finance is largest gold financing company in India in terms of loan portfolio (Source: IMaCS Industry Report (2010 Update) Muthoot Finance provides personal and business loans secured by gold jewellery or Gold Loans. Muthoot Finance is headquartered in the the state of Kerala

Click here for all posts on Muthoot Finance IPO!

Monday, May 2, 2011

Muthoot Finance IPO Allotment Status

May 02, 2011 0
Muthoot Finance IPO Allotment Status
Muthoot Finance IPO Allotment Status is expected to be declared soon. The IPO, which closed for subscription on on Thursday, April 21, 2011, had received a wonderful response from investors with the IPO getting subscribed 24.55 times on an overall basis with bids received for 1,07,46,26,600 Equity Shares as against the Total Issue Size of 4,37,75,000 Equity Shares. The QIB portion of the issue was oversubscribed by 25.01 times

Muthoot Finance is largest gold financing company in India in terms of loan portfolio (Source: IMaCS Industry Report (2010 Update) Muthoot Finance provides personal and business loans secured by gold jewellery or Gold Loans. Muthoot Finance is headquartered in the the state of Kerala

Stay tuned to Indian IPO Blog for the latest update on Muthoot Finance IPO Allotment Status!

Update: Muthoot Finance IPO Allotment Status declared


Vaswani Industries Limited IPO - Bidding Status till Day 2

May 02, 2011 0
Vaswani Industries Limited IPO - Bidding Status till Day 2

Sunday, May 1, 2011

ASBA to become mandatory for Non-Retail Investors

May 01, 2011 0
ASBA to become mandatory for Non-Retail Investors
In a remarkable move in the area of public issues and rights issues, SEBI has made Applications Supported by Blocked Amount (ASBA) facility compulsory for all Non-Retail Investors. Thus, QIB and HNI Category of Investors would now have to obligatorily invest in IPOs or Rights Issues using ASBA facility

ASBA (Application Supported by Blocked Amounts) is a process developed by the Securities and Exchange Board Of India (SEBI) for applying to IPO. In ASBA, an IPO applicant's account is earmarked and does not get debited until shares are alloted to him. However, there has to be sufficient funds in the account before it can be earmarked

Vaswani Industries Limited IPO subscribed 0.95 times on the opening day

May 01, 2011 0
Vaswani Industries Limited IPO subscribed 0.95 times on the opening day
Vaswani Industries Limited IPO has been bid 0.95 times on an overall basis on Friday, April 29, 2011, when the IPO opened for subscription.

The IPO has received quite an extra-ordinary amount of subscription from the HNI category, especially considering the weak response from other categories and also taking into account the fact that it was only the first day of the IPO. The HNI category received bids for 91,22,160 Equity Shares as against 15,00,000 reserved for the category, thus making the category overbid by 6.08 times

Although the Retail Category has received about 10% subscription till now, there has not been any bids in the QIB category on the opening day. The IPO would close for subscription for all categories on May 3, 2011

Stay tuned for the latest updates on Vaswani Industries Limited IPO!


Sanghvi Forging IPO opens from Wednesday, May 4, 2011

May 01, 2011 0
Sanghvi Forging IPO opens from Wednesday, May 4, 2011
Sanghvi Forging and Engineering Ltd. is coming up with an IPO, which would open for subscription from Wednesday, May 4, 2011

Sanghvi Forging and Engineering Limited (SFEL), an ISO 9001:2008 Certified Indian company, is engaged in the manufacture and marketing of Stainless Steel Forged and Machined Subtends, Forged Flanges, Forged Fittings and CNC Machined Forged Parts and Automobile Components in India, since 1990

According to the company's website, SFEL is a regular supplier to major projects like Refineries, Petrochemicals, Fertilizers, Nuclear Power plant, Ship Building, Off shore, Auto mobiles and Dairies in India and also Exporting our products to USA, Australia, Canada, France, Germany Israel, Indonesia etc.

Stay tuned for the latest updates on Sanghvi Forging and Engineering Ltd. IPO!

Servalakshmi Paper IPO - Final Subscription Status

May 01, 2011 0
Servalakshmi Paper IPO - Final Subscription Status

Innoventive Industries IPO - Final Subscription Status

May 01, 2011 0
Innoventive Industries IPO - Final Subscription Status

KPI Global (SME IPO) Details

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