Friday, December 20, 2019
Prince Pipes IPO closes today, subscribed 74 percent till second day
Thursday, December 19, 2019
Prince Pipes IPO Reviews - Is it worth applying? What do brokerage houses recommend?
“Construction ban in certain areas in North India will impact near-term growth. Post anti-dumping duty on CPVC resin from China/Korea, Prince was forced to raise CPVC price higher than others and this will impact growth/profitability,” it said. However, the brokerage said that there is a chance of “one-time valuation jump to IPO investors.”
Ventura Securities expects revenue, Ebitda and PAT of the company to grow at a CAGR of 5 per cent, 14 per cent and 18 per cent, respectively. For FY21, the stock is available at the offer price of 177-178 at 16 times on a fully diluted basis, this brokerage estimated.
BP Wealth: Do not subscribe
Wednesday, December 18, 2019
Prince Pipes IPO subscribed 28 percent on first day
Prince Pipes IPO has received a scant response on first day with the IPO getting bids of upto 0.28 times
Detailed subscription status given below:
QIB: 0.05xH
HNI 0.03x
The details of utilization of the proceeds of the Fresh Issue are summarized below:
1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws
PPF Scheme 2019 introduced - 3 key things you should know
If you took a loan against your PPF Account, the PPF Scheme 1968 laid down an interest rate of 2% per annum above the prevailing PPF interest rate. Thus for example, if the PPF interest rate was 8%, you would have to pay an interest rate of 10%.
In the PPF Scheme, 2019, premature closure is allowed after the completion of 5 financial years after the end of the year in which the account is opened, as was the case previously. However a special form, Form 5 has been created under PPF Scheme, 2019 for this purpose.
Tuesday, December 17, 2019
SBI Cards IPO Employees Quota - Eligibility for applying in employees quota
Eligibility Rules
- A permanent employee of SBI Cards or SBI, working in India or outside India (excluding employees who are not eligible to invest in the Offer under laws).
- A whole-time or part-time Director of SBI Cards who is eligible to apply under the Employee Reservation Portion on the date of filing of the RHP and who continues to be a Director of SBI Cards, until the submission of the Bid cum Application Form.
- SBI Retired Employees are not eligible to apply in SBI Cards IPO under employee quota
- Eligible Employees should mention their employee number at the relevant place in the Bid cum Application Form.
- Directors who directly or indirectly, hold more than 10% of the outstanding Equity Shares in SBI Cards are not eligible to apply.
Muthoot Finance NCD - December 2019 details
L&T Finance NCD - December 2019 details
Monday, December 16, 2019
Introducing Indian IPO Blog - FD and NCD updates
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Thursday, December 12, 2019
Prince Pipes and Fittings IPO opens on Dec 18
Prince Pipes and Fittings Limited, Mumbai based firm is engaged in manufacturing of polymer pipes and fittings. The company produces four types of polymer pipes including CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC. It is operating in the polymer pipe segment under two brand names; which are Trubore and Prince Piping Systems. The company has a corporate office in Mumbai and a strong presence across North, South and West India
Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on 30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad (Maharashtra).
The company is also planning to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products. The company sells the products under Prince Piping Systems brand name to 843 distributors which further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly sold to 212 wholesalers and retailers.
The details of utilization of the proceeds of the Fresh Issue are summarized below:
1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws
Prince Pipes and Fittings IPO would remain open between Dec 18, 2019 and Dec 20, 2019
Monday, December 9, 2019
Ujjivan Small Finance Bank IPO - Basis of Allotment explained
Following is the basis of allotment for Ujjivan Small Finance Bank IPO:
Explanation of Ujjivan Small Finance Bank Allotment basis
Ujjivan Small Finance Bank IPO - Basis of Allotment essentially indicates that 400 shares will be allotted on a lottery basis as under :
- For those who applied between 400 to 3200 or for 4000 or 5200 shares, allotment will be 400 shares in the ratio 35:1102 (Chances of Allotment: 3.17%)
- For those who applied for 3600 shares, allotment will be 400 shares in the ratio 36:1135 (Chances of Allotment: 3.17%)
- For those who applied for 4400 shares, allotment will be 400 shares in the ratio 27:844 (Chance sof Allotment: 3.19%)
- For those who applied for 4800 shares, allotment will be 400 shares in the ratio 55:1727 (Chances of Allotment: 3.18%)
Ujjivan Small Finance Bank IPO Allotment status declared
IPO Allotment status can be checked either from the registered website of the registrar to the IPO or can be established by way of :
(a) Debit to the bank account (indicating a successful allotment) or
(b) Release of lien marking done at the time of application (indicating no allotment)
Click here to know about how shares will be allotted in Ujjivan Small Finance Bank IPO
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SBI Cards IPO - Shareholder quota rules
- SBI Shareholders i.e. individuals and HUFs who are equity shareholders of SBI can only apply. (The sole/ First Bidder shall be a SBI Shareholder)
- Only those Bids, which are received at or above the Offer Price, would be considered for allocation under this category. To clarify,
(a) SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the Net Offer as such Bids will be treated as multiple Bids.
(b) Bids by SBI Shareholders in SBI Shareholders Reservation Portion (subject to Bid Amount being up to ₹200,000) and in the Employee Reservation Portion (as Eligible Employees), shall not be treated as multiple Bids
(c) Therefore, SBI Shareholders bidding in the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid under the Net Offer and such Bids will not be treated as multiple Bids - SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the retail or employee category.
- SBI Shareholders bidding in the SBI Shareholders Reservation Portion (up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid in the retail category
- SBI Shareholders Bidding under the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) are entitled to Bid at the Cut-off Price.
- If the aggregate demand in this category is less than or equal to 13,052,680 Equity Shares at or above the Offer Price, all the applicants will get a full allocation.
- In case of the IPO being under-subscribed in the SBI Shareholders Reservation Portion, the allocation would be met with shares from other reservation portions.
Saudi Aramco exercises over allotment option
Wassim Al Khatib, head of investment banking at the investment arm of Saudi Arabia's biggest bank, National Commercial Bank , said the state-controlled oil giant had exercised the so-called over-allotment option.
Aramco sold $25.6 billion of shares at 32 riyals each, the top of the range at which they were marketed, and the company had orders for $119 billion of stock. About 4.9 million individual investors, almost 15 per cent of the kingdom’s population, applied for the shares. Saudi Arabia sold only 1.5 per cent of the company’s capital in the IPO
“I see further upside to the stock after listing due to the fact that investors will be chasing the stock to complete their exposure, since the deal was oversubscribed,” said Ali El Adou, head of asset management at Daman Investiments in Dubai
Sunday, December 8, 2019
Ujjivan Small Finance Bank IPO Allotment and Listing Dates (Tentative)
UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.
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Click here to know about how shares will be allotted in Ujjivan Small Finance Bank IPO
Saturday, December 7, 2019
Karvy Stock broking fraud - 10 things you should be careful about with stock brokers
2. Be careful while executing the PoA (Power of Attorney) - specify all the rights that the stock broker can exercise and timeframe for which PoA is valid. It may be noted that PoA is not a mandatory requirement as per SEBI / Exchanges.
3. Register for online applications viz Speed-e and Easiest provided by Depositories for online delivery of securities as an alternative to PoA.
4. Ensure that you receive Contract Notes within 24 hours of your trades and Statement of Account at least once in a quarter from your Stock Broker
5. Please note that securities provided by you towards margin are not permitted to be pledged by your Stock Broker for raising funds.
6. If you have opted for running account, please ensure that the stock broker settles your account regularly and in any case not later than 90 days (or 30 days if you have opted for 30 days settlement).
7. Do not keep funds and securities idle with the Stock Broker.
8. Regularly login into your account to verify balances and verify the demat statement received from depositories for correctness.
9. Check messages sent by Exchanges on a monthly basis regarding funds and securities balances reported by the trading member and immediately raise a concern if you notice a discrepancy.
10. Always keep your contact details viz Mobile number / Email ID updated with the stock broker. You may take up the matter with Stock Broker / Exchange if you are not receiving the messages from Exchange / Depositories regularly.I
If you observe any discrepancies in your account or settlements, immediately take up the same with your stock broker and if the Stock Broker does not respond, with the Exchange / Depositories
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Ujjivan Small Finance Bank - the highest subscribed IPO of year 2019
Ujjivan Small Finance Bank Limited (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country. USFB Bank is promoted by Ujjivan Financial Services Limited (UFSL) which is an NBFC providing financial services to the economically active poor, who are not served by the Financial Institutions.
UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.
USFB has a wide presence across 24 states and union territories in India. As on 30 June 2019, it has 4.72 million customers, 474 Banking Outlets, 387 ATMs, two 24/7 phone banking units (in Bengaluru and Pune) and 50 additionally operated Asset Centres. Customers can use USFB mobile banking application in 5 languages.
The bank has a diversified portfolio offering savings, current & deposit accounts, Aadhaar enrolment services, ATM-cum-debit cards, point of sales terminals, and distributing 3rd party insurance products. USFB is focussed on digital platform and provides bill payments, SMS banking, mobile banking, RuPay Platinum debit cards, internet banking, biometric ATMs services digitally. The bank also allows registering savings account on UPI based mobile applications. It has an automated tablet-based loan origination system, digitalised credit processing and automated receipt collection system to reduce the turn around time of customers.
Saudi Aramco, the oil giant, would command record market valuation after mega IPO
NASDAQ and NYSE - Upcoming IPOs - List of companies filing for IPO - November 2019
- Healthcare Merger Corp.- Nasdaq - Date of filing: 2019-11-25 - Amt: $200.0 Mn.
- Genetron Holdings Ltd- Nasdaq - Date of filing: 2019-11-21 - Amt: $100.0 Mn.
- Zhongchao Inc.- Nasdaq - Date of filing: 2019-11-21 - Amt: $15.0 Mn.
- LIV Capital Acquisition Corp.- Nasdaq - Date of filing: 2019-11-20 - Amt: $69.0 Mn.
- Bill.com Holdings, Inc.- NYSE- Date of filing: 2019-11-15 - Amt: $182.6 Mn.
- Reynolds Consumer Products Inc.- Nasdaq - Date of filing: 2019-11-15 - Amt: $100.0 Mn.
- XP Inc.- Nasdaq - Date of filing: 2019-11-15 - Amt: $2,084.7 Mn.
- CDP Holdings, Ltd- NYSE- Date of filing: 2019-11-15 - Amt: $125.0 Mn.
- OneConnect Financial Technology Co. Ltd.- Nasdaq - Date of filing: 2019-11-13 - Amt: $79.6 Mn.
- Oriental Culture Holding LTD- Nasdaq - Date of filing: 2019-11-12 - Amt: $11.5 Mn.
- F5 Finishes, Inc- Nasdaq - Date of filing: 2019-11-07 - Amt: $46.0 Mn.
- Qilian International Holding Group Ltd- NYSE- Date of filing: 2019-11-04 - Amt: $32.2 Mn.
- PropTech Acquisition Corp- Nasdaq - Date of filing: 2019-11-04 - Amt: $150.0 Mn.
- Alussa Energy Acquisition Corp.- NYSE- Date of filing: 2019-11-01 - Amt: $225.0 Mn.
Thursday, December 5, 2019
Tuesday, December 3, 2019
Saturday, November 30, 2019
CSB Bank IPO Allotment status declared
https://chat.whatsapp.com/FJyE3SftMRcKhLznWi9afL
Wednesday, November 27, 2019
Tuesday, November 26, 2019
Ujjivan Small Finance Bank IPO price band announced
CSB Bank IPO heavily oversubscribed
Monday, November 25, 2019
CSB Bank IPO subscribed 4.3 times on second day, retail subscription crosses 21 times
Sunday, November 24, 2019
List of Upcoming IPOs
SBI Cards plans to launch mega IPO
SBI Card has a wide portfolio catering to both individual and corporate customers. It offers variety of cards across consumer segments that include:
- Premium Cards - SBI Card Elite, SBI Card PRIME, Doctor’s SBI Card
- Classic Cards - SimplySAVE SBI Card
- Industry first initiatives- SimplyCLICK SBI Card, SBI Card Unnati
- Corporate cards - SBI Signature Corporate Card, SBI Platinum Corporate Card
- Co-branded cards – Ola Money SBI Card, Etihad Guest SBI Card, Apollo SBI Card, BPCL SBI Card, IRCTC SBI Card, TATA Cards, Yatra SBI Card, fbb SBI STYLEUP Card, Air India SBI Card, Mumbai Metro SBI Card, Capital First SBI Card
CSB Bank IPO Review - Is it worth to apply?
The issue will close on November 26. Equity shares are proposed to be listed on the BSE, as well as the National Stock Exchange on December 4
Is it worth subscribing to CSB Bank IPO? Here's what expert brokerages have to say:
1. HDFC Securities Review on CSB Bank IPO
As per HDFC Securities, the bank's business and financial performance could suffer if it is unable to effectively manage the level of its NPAs.
"Although CSB Bank is making efforts to improve collections and to foreclose on existing impaired loans in a timely manner, there cannot be any assurance that it will be successful in its efforts or that the overall quality of its Bank’s loan portfolio will improve or will not deteriorate in the future," HDFC Securities said.
Issued notices and initiated various recovery proceedings against defaulting borrowers under the SARFAESI Act are also among key concerns, HDFC Securities said.
Moreover, CSB’s funding requirements are primarily met through customer deposits. If it fails to sustain or achieve growth of its deposit base, including its current and savings account deposit base, its business may be adversely affected, HDFC Securities said.
2. IndiaNivesh Review on CSB Bank IPO
IndiaNivesh recommends subscribing to CSB IPO.
"CSB Bank has seen a remarkable turnaround after the new promoter took charge of its affairs in FY19. At the upper end of the issue price, it is available at P/BV of around 2.19 times on ‘TTM’ basis. We expect CSB Bank to embark on a growth trajectory of over 20 percent on business and profitability for the next couple of years. There is ample scope for it to get re-rated at higher a multiple of 2.5 times to 2.7 times P/BV after listing," said IndiaNivesh.
3. BP Securities Review on CSB Bank IPO
BP Equities recommends subscribing to the issue.
"CSB has posted turnaround results in six months of FY20 and has improved its operational and financial performance. We believe the bank should do well with the recent capital raise and its strong risk management frameworks. We give subscribe rating to the IPO," said the brokerage firm.
"On the valuation front, at the upper end of the price band, CSB is valued at 2.31 times P/BV and 25.31 times P/E. Taking into account huge growth prospects and its comfortable asset quality, the stock looks attractive for investment," said BP Equities.
Ujjivan Small Finance Bank IPO opens on Nov 29
Ujjivan Small Finance Bank Limited (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country. USFB Bank is promoted by Ujjivan Financial Services Limited (UFSL) which is an NBFC providing financial services to the economically active poor, who are not served by the Financial Institutions.
UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.
USFB has a wide presence across 24 states and union territories in India. As on 30 June 2019, it has 4.72 million customers, 474 Banking Outlets, 387 ATMs, two 24/7 phone banking units (in Bengaluru and Pune) and 50 additionally operated Asset Centres
Saturday, November 23, 2019
CSB Bank IPO open from Nov 22, fully subscribed on first day
Thursday, April 25, 2019
Wednesday, April 17, 2019
Neogen Chemicals IPO Dates & Price Band:
Neogen Chemicals IPO Dates & Price Band: (Tentative)
IPO Open: 24-April-2019
IPO Close: 26-April-2019
IPO Size: Approx Rs.125 Crore (Approx)
Face Value: Rs.10 Per Equity Share
Price Band: Rs.180 to 190 Per Share
Listing on: BSE & NSE
Retail Portion: 35%
Equity: 65,84,210 Shares
Monday, March 25, 2019
RVNL IPO opens March 29, 2019
State-run *Rail Vikas Nigam Ltd (RVNL)* has received capital markets regulator SEBI’s go-ahead to float an initial public offering.
Going by the draft papers, the IPO of RVNL, which builds infrastructure for high speed rail, will see sale of 2.08 crore equity shares or 10 per cent stake by the government.
The public issue is being managed by Yes Securities, Elara Capital (India) and IDBI Capital Markets & Securities. The equity shares of the company are proposed to be listed on BSE and NSE.
Thursday, March 7, 2019
Endurance Technologies OFS oversubscribed, cut off price fixed at Rs.1135
Endurance Technologies Offer for Sale was open for Non Retail category on 6-Mar-2019 and for Retail category on 7-Mar-2019 at a floor price of Rs.1100 a piece. The issue is oversubscribed by more than 2.5 times as per NSE website
The cut-off price determined on the first day of OFS(06-Mar-2019) on the basis of bids received in the general category is Rs.1135
The market price of Endurance Technologies was Rs.1178.10 on 7-Mar-2019. The stock has touched a 52 week low of Rs.1062 on 27-Nov-2018 and a 52 week high of Rs.1578.80 on 6-Aug-2018
Stay tuned to IndianIPOBlog for latest updates on IPOs and OFSs in Indian markets
Wednesday, March 6, 2019
Endurance Technologies Offer for Sale
Company: Endurance Technologies Limited
Selling Shareholder: Mr. Anurang Jain (Promoter of the Company)
Offer size: 6,363,637 equity shares (Base size) with face value of INR 10 per equity share with an oversubscription option of 4,189,051 equity shares (Oversubscription size)
Floor Price: INR 1,100.00 per share (Discount of 12.6% to Last Close Price of INR 1,259.30 as on March 5, 2019 on NSE)
Offer Size at Floor Price: INR 7,000 MM i.e. USD 98.9 MM (Base size) and INR 4,608 MM i.e. USD 65.1 MM (Oversubscription Size)
Public Announcement and Floor Price Announcement (T-1): Tuesday, March 5, 2019
Trade Date for non-Retail investors (T): Wednesday, March 6, 2019
Trade Date for Retail Investors (T+1): Thursday, March 7, 2019
Selling Broker: Axis Capital Limited
Friday, February 8, 2019
Mazgaon Dock IPO upcoming till month end
Mazagon, a leading shipyard of the country, would see sale of over 2.24 crore equity shares, amounting to 10 percent stake of the government.
The offer will also have a portion for employees, which will not exceed 5 per cent of the post offer paid up equity share capital of the company.
The IPO is part of the government's efforts to garner Rs 80,000 crore through stake sales in state-owned companies in 2018-19.
Thursday, February 7, 2019
Amidst tough times, Anil Ambani led Reliance General re-files for IPO
In a market with heavy negative investor sentiment, the Anil Ambani-led Reliance group is planning an initial public offering (IPO) of a group company as early as this financial year. Reliance General Insurance Company will re-file its IPO document with market regulator Securities and Exchange Board of India (Sebi) this week, according to investment banking sources.
The company is hoping to obtain pending regulatory approvals soon, and targeting to list before March-end
Reliance General had all the approvals in place last year, but couldn't launch its IPO because of challenging market conditions and negative sentiments towards the group companies. While not much has changed on that front, the company and bankers are hopeful that the issue would sail through as the general insurer has shown an improvement in performance.
It will be intriguing to note how market will react to this given the heavy negative publicity towards ADAG
Source: BusinessStandard
Wednesday, January 2, 2019
Tuesday, January 1, 2019
KPI Global IPO (SME IPO) opens January 8
K.P.I. Global Infrastructure Limited is a company engaged in solar power generation. The company provides solar power, both as an Independent Power Producer under the brand name of 'Solarism' and as a service provider to Captive Power Producer ("CPP") customers.
K.P.I Global builds, owns, operates and maintains grid-connected solar power projects as IPP. It generates revenue by entering into Power Purchase Agreements with third parties for selling power generated through its solar projects. It has entered into bilateral PPA's with reputed businesses such as Mafatlal Industries Limited, Best Paper Mills Private Limited and Meghmani Organics Limited.
Stay tuned for more on KPI Global Infrastructure SME IPO