QIB: 0.00 times
Non-Institutional Investors: 0.01 times
Retail: 0.04 times
Overall: 0.01 times

QIB: 0.29 times
Non-Institutional Investors: 1.36 times
Retail: 0.32 times
Overall: 0.46 times

The Book Running Lead Manager to the issue has informed the Exchange that the SWAJAS AIR CHARTERS LIMITED issue will close on October 5, 2011 instead of the earlier closing day on Sep 28th 2011.Further price band has revised from 90/- to Rs100/- to Rs. 84/- to Rs. 90/- per share. Post issue modification date has been revised to October 7, 2011

Swajas Air Charters Limited IPO received an embarrassing response from the investors with the IPO getting paltry subscriptions even on the closing day. It remains doubtful whether even at the revised price band, the issue will receive substantial subscription to sail through.

Swajas Air Charters Ltd is a a Non-Scheduled Airline Operator, servicing a fleet of fixed-wing aircraft and helicopters within and outside India. An Insight from Indian IPO Blog Insights revealed that the pricing for the issue is far stretched. Click here to read complete analysis on Swajas Air Charters IPO

Issue Size: 6,750,000 Equity Shares of Rs.10/- each
Issue opens on: September 29, 2011
Issue closes on: October 5, 2011
Price Band: Rs.145/- to Rs.155/- per equity share
Bid Lot: 40 Equity Shares and in multiples thereof
Lead Manager: Collins Stewart Inga Pvt. Ltd.
Registrar: Link Intime India Private Ltd.

Issue Size: 5,500,000 Equity Shares of Rs.10/- each
Issue opens on: September 29, 2011
Issue closes on: October 04, 2011
Price Band: Rs.130/- to Rs.150/- per equity share
Bid Lot: 45 Equity Shares and in multiples thereof
Lead Manager: PNB Investment Services Ltd.
Registrar: Bigshare Services Pvt. Ltd.

QIB: 0.00 times
Non-Institutional Investors: 0.00 times
Retail: 0.00 times
Overall: 0.00 times

QIB: 0.00 times
Non-Institutional Investors: 0.00 times
Retail: 0.00 times
Overall: 0.00 times

QIB: 0.00 times
Non-Institutional Investors: 0.01 times
Retail: 0.04 times
Overall: 0.01 times

Onelife Capital Advisors Limited (OCAL), an Indian financial service provider, is entering the capital markets with a Public Issue of 33,50,000 Equity Shares of Rs 10 each. The Issue would remain open for subscription between Wednesday, September 28, 2011 and Tuesday, October 4, 2011

The Pricing for the 100% Book Building Issue is made in a price band of Rs.100/- to Rs.110/- per equity share having a Face Value of Rs.10/- each. The IPO has been rated by CARE. Applications in the IPO can be made in a bid lot of 50 Equity Shares and in multiples thereof. The minimum application, therefore would work out to be Rs.5,000/- at the lower end of the price band and Rs.5,500/- at the upper end of the band.

Click here to read Indian IPO Blog Insight on Onelife Capital Advisors IPO

M and B Switchgears Limited, engaged in manufacturing of distribution transformers, power transformers, furnace/rectifier transformers and special purpose transformers, has entered the capital markets with an Initial Public Offer (IPO) of 50,00,000 Equity Shares with a Face Value of Rs.10/- each

The 100% Book Building Issue is offered in a Price Band of Rs.180/- to Rs.186/- per equity share with a bid lot of 30 Equity Shares and in multiples thereof. The IPO has been rated by rating agency ICRA. D&A Financial Services Private Limited is the Book Running Lead Manager to the Issue. Sumpoorna Portfolio Limited and Inventure Growth and Securities Limited are the Syndicate Members while Bigshare Services Private Limited is the Registrar to the Issue. The IPO is scheduled to remain open for subscription between Wednesday, September 28, 2011 to Wednesday, October 05, 2011


Company Profile:
M and B Switchgears Limited is in business of manufacturing transformers for more than 30 years. The Company's existing annual production capacity in terms of KVA is 75,000 KVA of transformer per month on single shift basis and annual aggregate capacity is 9,00,000 KVA per annum.

M and B Switchgears Limited has the capacity to manufacture 5,109 transformers per annum. Company's client-base includes almost all electricity boards and many industrial groups including steel, power, pharma, textile, automobile etc., public sector companies like NCL, SECL, WCL, Ordanace factory and various other government utilities.

The company is promoted by Mr. Shyam Sunder Mundra, Mr. Vikalp Mundra and Mr. Anurag Mundra

Click here to read complete analysis of the IPO on Indian IPO Blog Insights

QIB: 0.00 times
Non-Institutional Investors: 0.00 times
Retail: 0.00 times
Overall: 0.00 times

Tijaria Polypipes IPO is a Fixed Price Issue with Equity Shares offered at an Issue Price of Rs.60/- per share for shares having a Face Value of Rs.10/- each. Tijaria Polypipes Ltd is an ISO 9001:2000 Certified company engaged in the business of plastic pipes. Tijaria is manufacturing of pre-lubricated HDPE pipes (PLB HDPE), PVC & SWR pipes, sprinkler pipes and systems, flat tubes, fittings and PET straps under the registered brand name of Tijaria and Vikas. The company produces a big product range in the field of plastics, HDPE sprinkler, drip irrigation, micro irrigation, telecommunications etc.

The subscription status of Fixed Priced Issue would be updated after the closure of the issue. The IPO would close for subscription on September 29, 2011

Check back Indian IPO Blog for more on Tijaria Polypipes IPO!

Issue Size: 5,000,000 Equity Shares of Rs.10/- each
Issue opens on: September 28, 2011
Issue closes on: October 05, 2011
Price Band: Rs.180/- to Rs.186/- per equity share
Bid Lot: 30 Equity Shares and in multiples thereof
Lead Manager: D and A Financial Services Pvt. Ltd.
Registrar: Bigshare Services Pvt. Ltd.

Issue Size: 3,350,000 Equity Shares of Rs.10/- each
Issue opens on: September 28, 2011
Issue closes on: October 04, 2011
Price Band: Rs.100/- to Rs.110/- per equity share
Bid Lot: 50 Equity Shares and in multiples thereof
Lead Manager: Atherstone Capital Markets Ltd.
Registrar: Sharepro Services Pvt. Ltd.

The Initial Public Offer (IPO) of Swajas Air Charters Limited opens for subscription from today. Swajas Air Charters Ltd is a a Non-Scheduled Airline Operator, servicing a fleet of fixed-wing aircraft and helicopters within and outside India. The services provided by Swajas Air can fulfill various Aviation requirements which range from corporate travel to emergency medical services as well as from aircraft management to maintenance and technical support

The Equity Shares are offered in a Price Band of Rs.90/- to Rs.100/- per equity share with a bid lot of 60 Equity Shares and in multiples thereof.

Click here for a detailed analysis of the IPO from Indian IPO Blog Insights

The Price Band for the upcoming IPO of Taksheel Solutions Limited has been fixed at Rs.130/- to Rs.150/- per equity share for each share having a Face Value of Rs.10/- each. Taksheel Solutions IPO consists of 5,500,000 Equity Shares of Rs.10/- offered in the aforesaid price band

The Equity Shares are proposed to be listed on both the BSE as well as BSE. PNB Investment Services Ltd. is the Book Running Lead Manager to the Issue, while Bigshare Services Pvt. Ltd. is the Registrar to the Issue. Applications can be made in a bid lot of 45 Equity Shares and in multiples thereof

Taksheel Solution Ltd. is an IT Solution Company engaged in the business of providing products and services to the financial services industry, Information Technology & Telecom. Headquartered in Hyderabad, with an office in North America, they provide professional IT services to global clients. Taksheel offering Wealth Management Technology Solutions, Telecom Solutions, Business Intelligence, Data Warehousing, Application Development and Application Maintenance

The Equity Shares of PG Electroplast Limited would be listed and admitted to the dealings on the exchanges with effect from Monday, September 26, 2011. The following are the Listing Details:

PG Electroplast Limited Listing Info:
ISIN: INE457L01011
Listing Date: Monday, September 26, 2011
BSE Scrip Code: 533581
NSE Symbol: PGEL
Listing Group: 'B' Group of Securities
Issue Price: Rs. 210/- per equity share

PG Electroplast Ltd is engaged in the business of Electronic Manufacturing Services (EMS). Company manufactures verity of electronic component and finished goods for Original Equipment Manufacturers (OEMs) of consumer electronic products in India

The Price Band for the upcoming IPO of Swajas Air Charters Limited, has been ascertained as Rs.90/- to Rs.100/- per equity share with a corresponding bid lot of 60 Equity Shares and in multiples thereof.

Swajas Air Charters Ltd is a a Non-Scheduled Airline Operator, servicing a fleet of fixed-wing aircraft and helicopters within and outside India. The services provided by Swajas Air can fulfill various Aviation requirements which range from corporate travel to emergency medical services as well as from aircraft management to maintenance and technical support

Check back Indian IPO Blog for more on Swajas Air Charters IPO!

Onelife Capital Advisors Limited (OCAL), financial service provider specialized in investment banking, including merchant banking, is coming up with an IPO of 3,350,000 Equity Shares of Rs.10/- each

Onelife Capital offers services like Initial Public Offerings, Rights Issue, Buyback of Shares, Follow-On Public Offering, Qualified Institutional Placements, Open Offers and other Equity Linked Financing for small sized companies

The IPO would remain open for subscription between September 28, 2011 and October 4, 2011. Apart from achieving the benefits of listing on the Stock Exchanges and general corporate purposes, the objects of this Issue are to
1. Purchase of Corporate Office at Mumbai;
2. Development of Portfolio Management Services;
3. Brand Building Activities;

The Follow-on Public Offer (FPO) of Steel Authority of India Limited (SAIL) has been put on hold for the time being.

Rana Som, chairman and managing director of SAIL said, the follow-on public offer has not been deferred, it is not on backburner. “We have put it on hold. We are just waiting for the good time. We are waiting for stable market conditions,” he added. He further said, the market is very volatile. “Let the market condition become more conducive and then we will bring our FPO.”

SAIL is a public sector company and the largest integrated iron and steel producer in India. Steel Authority of India Limited (SAIL) is one of the largest state-owned steel makers in India and one of the top steel makers in World. With a turnover of 48,681 crore, the company is among the top five highest profit earning corporates of the country

Issue opens from: September 26, 2011
Issue closes on: September 28, 2011
Price Band: Rs.90/- to Rs.100/- per equity share
Bid Lot: 60 Equity Shares and in multiples thereof
Lead Manager: Aryaman Financial Services Ltd.
Registrar: Cameo Corporate Services Ltd.

QIB: 0.00 times
Non-Institutional Investors: 0.00 times
Retail: 0.23 times
Overall: 0.08 times

M and B Switchgears Limited, a transformer manufacturer, is entering capital markets with an IPO of 50 Lakh Equity Shares having a Face Value of Rs.10/- each. The 100% Book Built Issue would remain open for subscription between Wednesday, September 28, 2011 and Wednesday, October 5, 2011

M and B Switchgears Ltd is engaged in manufacturing of distribution transformers, power transformers, furnace/rectifier transformers and special purpose transformers. D and A Financial Services Pvt. Ltd. is the Book Running Lead Manager to the Issue while Bigshare Services Pvt. Ltd. is the Registrar to the Issue

Check back Indian IPO Blog for more on M and B Switchgears IPO!

QIB: 0.00 times
Non-Institutional Investors: 0.00 times
Retail: 0.09 times
Overall: 0.03 times

Category		No.of shares offered / reserved		No. of shares bid for		No. of times of total meant for the category
QIB		2307692		724750		0.3141
HNI		692308		1909850		2.7587
Retail (RII)		1615385		7562000		4.6812
Total						2.21		times

QIB: 0.31 times
Non-Institutional Investors: 2.76 times
Retail: 4.68 times
Overall: 2.21 times

Source:  Indian IPO Blog Insights


RDB Rasayans Ltd, a packaging material manufacturer, engaged in manufacture and sale of FIBC (Jumbo Bags), Woven Sacks and various woven polymer based products, has entered the capital markets with Public Issue of 45, 00,000 Equity Shares of Rs.10/- each. The IPO would remain open for subscription for 3 days between September 21, 2011 and September 23, 2011

The Pricing of the 100% Book Building Issue has been done rather ambitiously at Rs.72/- on the lower end of the price band and Rs.79/- at the upper end of the price band. Chartered Capital And Investment Limited is the Book Running Lead Manager as well as the Syndicate Member for the IPO, while Link Intime India Pvt. Ltd. is the Registrar to the Issue. Applications can be made in a Price Band of 80 Equity Shares and in multiples thereof. Brickwork Ratings India Private Limited has assigned the IPO Grading to the Issue

A factor worthy of a note is that the equity shares will be listed only on the Bombay Stock Exchange (BSE) and not on National Stock Exchange (NSE)

Company Background:
RDB Rasayans Ltd. is a subsidiary of RDB Industries Ltd. and engaged in manufacture and sale of FIBC (Jumbo Bags) and Woven Sacks and and various woven polymer based products like container liners, protective irrigation system, canal liners, etc. These products use fertilizers, cement, polymers, chemicals, textiles, machinery, automobiles and steel industry etc. Its manufacturing facility is located in West Bengal

RDB Rasayans Ltd. manufactures fabrics for the manufacture of FIBC and sacks; flat and triplex tapes in India. Its products include bulk bags FIBC, such as corner and full loop, circular, sling loop, UN, conductive, and electrostatic bags, as well as standard bulk bags for agricultural products and construction materials; and multiwall bags, which include PP and PE valve bags, and lami bags. RDB Rasayans exports its products to various countries in Europe, Australia, and the Middle East. The company was founded in 1995 and is based in Kolkata, India.

It can be seen that the company's product portfolio essentially consists of only Bulk Bags (FIBC) and Multiwall Bags. The Company plans to utilize the proceeds from the IPO to finance the capital expenditure to enhance the manufacturing capacity by establishing another unit besides meeting the issue expenses and general corporate purposes


IPO Grading:
Brickwork Ratings (BWR) has assigned BWR IPO Grade 2 to the proposed IPO of RDB Rasayans Limited (“RRL”). Brickwork Ratings’ BWR IPO Grade 2 indicates "Below Average Fundamentals" for the issue in relation to its peers. BWR assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1 with Grade 5 signifying strong fundamentals and Grade 1 poor fundamentals of the issue in relation to its peers

According to the Grading Report from Brickwork Ratings, the grading factors RRL’s experienced management team and promoter group, strategic cost/logistic advantage enjoyed by RRL due to their location close to clients and ports, healthy growth of domestic packaging industry as well as demand from Western and European countries  and good clientele and suppliers. The grading is constrained by volatility  of raw material prices and RRL’s inability to fully pass on the production price hikes, negative cash flows from operations, fragmented nature of industry with high level of regulation, number of litigations against the promoter and group companies, risk of adverse business environment with regard to labor unrests and cyclicality of end-user sectors

Click here to download the complete grading report of Brickwork Ratings

Analysis of Financials:
A significant factor worth consideration when it comes to the financials of the company is the negative cash flow from operations. The Prospectus filed with SEBI details the following cash flow position of the company during the preceding five years:

As can be seen from the above, the Net Cash Flow from Operating Activities of the company has been widely volatile and also cuts across into the negative quadrant for FY ending on 31-3-2008 and FY ending on 31-3-2011

The following is the company's statement of assets and liabilities and Profit and Loss statement as per the RHP filed with SEBI:



For the FY ending 31-3-2011, on a Sales of around Rs.46.13 Crs, the company has posted a PAT of only about Rs.1.80 Crs, which implies a profit margin of less than 4% of the revenue. The story in earlier four years has also been quite similar with profit to sales margin remaining under 6% in those years as well

The Equity base for the company is also comparatively high with Equity Share Capital alone constituting around 74% of the total Net Worth of the company. For the FY11, the EPS of the company comes to around 1.37, which when compared to the Price Band, gives an exorbitant PE multiple of around 53 times even at the lower end of the Price Band.

Special Remarks:
The general volatility of raw material prices and RRL’s inability to fully pass on the production price hikes may result in lower profit margins leading to low profitability in future. Besides, negative cash flows from operations and a number of litigations against the promoter and group companies plays a significant role in denting the credibility of the IPO. Investors may want to give the IPO a skip and opt for listed stocks with better profit margins and stronger fundamentals

Source:  Indian IPO Blog Insights

The Price Band for RDB Rasayans IPO is fixed at Rs.72/- to Rs.79/- per equity share. The Price Band fixed is 7.2 times of the Face Value at the lower end and 7.9 times of the Face Value at the upper end. Correspondingly, the bid lot or the minimum order quantity would be 80 Equity Shares and in multiples thereof

RDB Rasayans Ltd is a packaging material manufacturer, engaged in manufacture and sale of FIBC (Jumbo Bags) and Woven Sacks and and various woven polymer based products like container liners, protective irrigation system, canal liners, etc.

Click here to RDB Rasayans Ltd. Company Profile from Indian IPO Blog Insights
Click here for all posts on RDB Rasayans IPO

QIB: 0.31 times
Non-Institutional Investors: 0.52 times
Retail: 1.40 times
Overall: 0.73 times

Flexituff International Limited is entering the capital markets with an IPO of 6,750,000 Equity Shares of Rs. 10/- each for a cash in a price band which is yet to be announced by the company

Flexituff International Limited is a manufacturer of Flexible Intermediate Bulk Containers (FIBC), Geo-Textile Fabric and Ground Cover, Reverse Printed Biaxially Oriented Polypropylene (BOPP), Woven Bags, Special Polypropylene (PP) Bags including Leno Bags.

The IPO would open for subscription from Thursday, September 29, 2011 and the closing date is October 4, 2011 for QIB Investors and for October 5, 2011 for all categories of investors. The Equity Shares are proposed to be listed on both BSE and NSE, Link Intime India Pvt. Ltd. is the Registrar to the Issue

According the the notice on the BSE website, in compliance with the order of Honorable Securities Appellate Tribunal (SAT) dated August 25, 2011, the equity shares of Vaswani Industries Limited, allotted pursuant to IPO and as per the details given below, shall be listed on the Exchange with effect from September 20, 2011.

Prakash Constrowell Limited, a construction company headquartered in Nashik, Maharashtra, has entered the capital markets with an Initial Public Offer (IPO) to raise Rs.60 Crores. The issue would remain open for subscription between September 19, 2011 and September 21, 2011

The 100% Book Building Issue would be in a price band of Rs.130/- to Rs.138/- per equity share for shares having a Face Value of Rs.10/- each. The applications can be made in a bid lot of 50 Equity Shares and in multiples thereof. Intensive Fiscal Services Private Limited, based in Mumbai is the Book Running Lead Manager to the Issue while Bigshare Services Pvt. Ltd. is the Registrar to the issue.

Click here to read analysis on Prakash Controwell IPO from Indian IPO Blog - Insights

QIB: 0.31 times
Non-Institutional Investors: 0.52 times
Retail: 0.56 times
Overall: 0.43 times

The Follow-on Public Offer (FPO) of Oil and Natural Gas Corporation (ONGC) Limited, has been put on hold for now. The FPO, which is scheduled to open from September 20, 2011, may now be pushed back by atleast 15 days to October 5, 2011.

Oil and Natural Gas Corporation Limited (ONGC) is an Indian state-owned oil and gas company headquartered at Dehradun, the capital of Uttaranchal (aka Uttrakhand). ONGC is a Fortune Global 500 company ranked 413,[2] and contributes 77% of India's crude oil production and 81% of India's natural gas production. It is the highest profit making corporation in India, according to filings with the BSE of latest quarter results

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

Listing Date: Friday, September 16, 2011
Face Value: Rs.10/- each
Issue Price: Rs.58/- per share

Listing Day Price Summary:

On the BSE			On the NSE
Open:	55.00		Open:	68.00
High:	61.40		High:	68.00
Low:	31.80		Low:	31.50
Close:	33.65		Close:	33.25

Issue Size: 4,500,000 Equity Shares of Rs.10/-
Issue opens from: September 21, 2011
Issue closes on: September 23, 2011
Price Band: Rs.72 to Rs.79 per equity share
Bid Lot: 80 Equity Shares and in multiples thereof
Lead Manager: Chartered Capital and Investment Limited
Registrar: Link Intime India Pvt. Ltd.

Issue opens from: September 19, 2011
Issue closes on: September 21, 2011
Price Band: Rs.130 to Rs.138/- per equity share
Bid Lot: 50 Equity Shares and in multiples thereof
IPO Rating: IPO Grade 2 from CARE
Lead Manager: Intensive Fiscal Services Pvt. Ltd.
Registrar:  Bigshare Services Pvt. Ltd.

Issue opens from: Tuesday, September 27, 2011
Issue closes on: Thursday, September 29, 2011
Issue Type: Fixed Price Issue IPO
Issue Price: Rs.60 per equity share
Bid Lot: 100 Equity Shares and in multiples thereof
IPO Rating: IPO Grade 2 from ICRA
Lead Manager: Hem Securities Limited
Registrar: Sharex Dynamic (India) Pvt. Ltd.

SRS Limited will list its Equity Shares on the exchanges with effect from Friday, September 16, 2011. The listing details of Equity Shares of SRS Limited are provided below:

SRS Limited Listing Info:
Listing Date: Friday, September 16, 2011
ISIN: INE219H01039
Issue Price: Rs.58/- per equity share
Listing in: 'B' Group of Securities
BSE Script Code: 533569
NSE Symbol: SRSLTD

SRS Limited is engaged in the business of Cinema Exhibition, Food & Beverages, Retail and Manufacturing & Retailing of Jewellery operations. The company operates 23 SRS Value Bazaar retail stores, 15 food courts and 30 cinema screens in North India. The company also operates five jewellery retail and wholesale outlets and a jewellery manufacturing unit in Delhi.

The IPO was assigned an IPO Grade 3/5 by credit rating agency ICRA. Karvy Investor Services Ltd,IDBI Capital Market Services Limited,SPA Merchant Bankers Limited were the Book Running Lead Managers to the Issue. Karvy Stock Broking Limited,SPA Securities Limited,Enam Securities Private Limited,SMC Global Securities Limited,Hem Securities Limited were the Syndicate Members, while BEETAL Financial & Computer Services Pvt. Ltd. was the Registrar to the Issue

Prakash Constrowell Limited has decided upon the Price Band for its upcoming IPO of Equity Shares, which would open for subscription from Monday, September 19, 2011. The Price Band has been fixed at Rs.130/- to Rs.138/- per equity share

Prakash Constrowell Limited is a construction company predominantly engaged in the business of infrastructure development and civil construction. It is a fast growing company that provides integrated engineering, procurement and construction services. It believes in providing high quality and innovative projects on a timely basis. It undertakes projects for various Government / semi-government bodies and other private sector clients. Company is headquartered at Nasik, Maharashtra and has operations across the state of Maharashtra

Company focuses on the following segments of construction :

• Infrastructure development; including construction and maintenance of roads / highways, bridges, including projects on public private partnership (PPP) model, industrial parks, work-shops, hospitals, educational institutions;
• Civil construction; including, Government staff quarters, hostel buildings and auditoriums;
• Residential and commercial real estate construction

Oil and Natural Gas Corporation Limited (ONGC), Asia's largest and most active company involved in exploration and production of oil, is coming up with an FPO of Equity Shares, which would remain open for subscription between Tuesday, September 20, 2011 and Friday, September 23, 2011

Oil and Natural Gas Corporation Limited (ONGC) is an Indian state-owned oil and gas company headquartered at Dehradun, the capital of Uttaranchal (aka Uttrakhand). ONGC is a Fortune Global 500 company ranked 413,[2] and contributes 77% of India's crude oil production and 81% of India's natural gas production. It is the highest profit making corporation in India, according to filings with the BSE of latest quarter results

The Follow-on Public Offer (FPO) is likely to be priced at around Rs.250/- per share. Consequently, the bid lot for the ONGC FPO is expected to be around 25 Equity Shares and in multiples thereof. It may be noted however, that there is no official announcement yet made with respect to the Price Band or Bid Lot for the FPO. The Price Band and Bid Lot will be updated here as soon as the same is announced. Check back Indian IPO Blog for the latest updates on the FPO!

The Price Band for the upcoming Follow-on Public Offer of Oil and Natural Gas Corporation (ONGC) Limited would be declared atleast one day prior to the date of opening of the issue, which would open for subscription from Tuesday, September 20, 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. 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

The Price Band and Bid lot for the FPO would be published on this blog as soon as the same is declared. Check back Indian IPO Blog for the latest updates on ONGC FPO!

SRS IPO Allotment Status has been declared and can now be declared online. Click here to check SRS Limited IPO Allotment Status now.

SRS Limited is engaged in the business of Cinema Exhibition, Food & Beverages, Retail and Manufacturing & Retailing of Jewellery operations. The company operates 23 SRS Value Bazaar retail stores, 15 food courts and 30 cinema screens in North India. The company also operates five jewellery retail and wholesale outlets and a jewellery manufacturing unit in Delhi.

The IPO was assigned an IPO Grade 3/5 by credit rating agency ICRA, indicating "Average Fundamentals". ICRA assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals

QIB: 0.75 times
Non-Institutional Investors: 5.11 times
Retail: 0.32 times
Overall: 1.25 times

Opto Eurocor Healthcare, a fully owned unit of the listed health-care equipment maker Opto Circuits (India) Limited, may come up with an IPO of Equity Shares. Opto Circuits (India) Limited plans to dilute 25% of its stake in the company through the IPO

Opto Eurocor Healthcare is planning to set up manufacturing units in India and Malaysia and the proceeds of the share sale would be used to finance this expansion

Check back Indian IPO Blog for more on Opto Eurocor Healthcare IPO!

Taksheel Solutions Ltd., a company which offers IT products and services to financial services and telecom companies, is planning to come up with an IPO of Equity Shares which would open for subscription from September 29, 2011.

Taksheel is a comprehensive IT solutions company focused on providing technology solutions and services for the enterprises engaged in financial service industry, which is one of the industries driven by technology all over the world.

Stay tuned for latest news on Taksheel Solutions Ltd. IPO!

National Building Construction Corporation (NBCC), a wholly owned Government of India enterprise, is planning to come up with an Initial Public Offer (IPO) as part of Government's divestment programme.

The Government of India, which currently holds 100% stake in the company is planning to disinvest 10% through an IPO. NBCC is the largest public sector construction company

Check back Indian IPO Blog for the latest on NBCC IPO!

Prakash Constrowell Limited, a company engaged in infrastructure development and civil construction business, is coming out with an IPO of Equity Shares having a Face Value of Rs.10/- each. The IPO opens on September 19, 2011 and closes on September 21, 2011

Prakash Constrowell Limited is a construction company predominantly engaged in the business of infrastructure development and civil construction. It is a fast growing company that provides integrated engineering, procurement and construction services. It believes in providing high quality and innovative projects on a timely basis. It undertakes projects for various Government / semi-government bodies and other private sector clients. Company is headquartered at Nasik, Maharashtra and has operations across the state of Maharashtra

Prakash Constrowell Limited is registered as Class 1A contractor with the Public Works Department, Government of Maharashtra; wherein company can bid for a range of contracts without restriction on any cost parameters. Further, Company is also registered with other Government/semi-government bodies to bid for various types of construction projects.

The Government of India is planning to divest 10% stake in Hindustan Aeronautics Limited (HAL) through an Initial Public Offering (IPO). Hindustan Aeronautics Limited (HAL) is a Navaratna PSU based in Bangalore, India and is one of Asia's largest aerospace companies.

Under the management of the Indian Ministry of Defence, the state-owned Hindustan Aeronautics is mainly involved in aerospace industry, which includes manufacturing and assembling aircraft, navigation and related communication equipment, as well as operating airports

HAL built the first military aircraft in South Asia and is currently involved in the design, fabrication and assembly of aircraft, jet engines, and helicopters, as well as their components and spares. It has several facilities throughout India including Nasik, Korwa, Kanpur, Koraput, Lucknow, Bangalore and Hyderabad

Check back Indian IPO Blog for more on HAL IPO!

PG Electroplast IPO received a lackluster subscription with the IPO getting subscribed at 1.34 times on an overall basis on its closing day. The IPO was subscribed 0.98 times in the QIB area with 1.84 times and 1.64 times subscription in HNI and Retail Category respectively

PG Electroplast IPO, which had opened for subscription from September 7, 2011, had largely remained undersubscribed for the initial three days of its opening and it was only on the closing day that the IPO managed to get through. PG Electroplast Limited is primarily engaged in the business of Electronic Manufacturing Services. PG Electroplast manufactures products as color television sets (CTV) & components, air conditioners sub-assemblies, DVD players, water purifiers and Compact Fluorescent Lamps (CFL) for third parties. It also does plastic injection moulding and manufacture Printed Circuit Boards (PCB) assemblies for CTVs, DVD players and CFL.


Click here to check out PG Electroplast IPO - Final Oversubscription Statistics

Category		No.of shares offered / reserved		No. of shares bid for		No. of times of total meant for the category
QIB		2872500		2822550		0.9826
HNI		861750		1583520		1.8376
Retail (RII)		2010750		3297270		1.6398
Total						1.34		times

QIB: 0.98 times
Non-Institutional Investors: 1.84 times
Retail: 1.64 times
Overall: 1.34 times

The Securities and Exchange Board of India (SEBI) has approved the Draft Red Herring Prospectus (DRHP) of Multi Commodity Exchange (MCX). MCX filed its Draft Red Herring
Prospectus(DRHP) for an initial public offer (IPO) with SEBI of 6,427,378 equity shares of Rs 10 each.

MCX is the sixth largest commodity exchange in the world with No 1 in silver and No 2 ranking in gold. It would be the first exchange in India to go public and get India at par with other countries with listed exchanges such as US, HK, UK, Singapore, Japan and Australia.

Stay tuned for the latest updates on MCX IPO!

QIB: 0.29 times
Non-Institutional Investors: 0.24 times
Retail: 0.02 times
Overall: 0.19 times

MLR Research has come out with a research report recommending the investors to Avoid the IPO of PG Electroplast Limited. The IPO opened for subscription from September 7, 2011 and would close on September 12, 2011. The shares are offered in a price band of Rs.190/- to Rs.210/- per equity share with a Face Value of Rs.10/- per share

PG Electroplast Limited manufactures and assembles a comprehensive range of consumer electronic components and finished products such as colour television (CTV) sets & components, air conditioners (ACs) sub-assemblies, DVD players and Compact Fluorescent Lamps (CFL) for third parties. As backward integration, it also does plastic injection moulding and manufacture printed circuit boards (PCB) assemblies for CTVs, DVD players and CFL

Click here to read more on recommendation from MLR Research!