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

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

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

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

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, 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

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