QIB: 0.65 times
Non-Institutional Investors: 3.22 times
Retail: 14.22 times
Overall: 5.78 times

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!

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

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.

Galaxy Surfactants Limited has withdrawn its IPO, which was scheduled to close for subscription today on May 19, 2011 for categories other than QIB.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

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!

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

QIB: 6.92 times
Non-Institutional Investors: 1.20 times
Retail: 2.00 times
Employees: 0.91 times
Overall: 4.34 times

QIB: 0.14 times
Non-Institutional Investors: 2.65 times
Retail: 1.84 times
Overall: 1.11 times

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!

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!

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

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!