Daily updates on Initial Public Offers (IPO)

[live_wire]

Ravi Kumar Distilleries IPO subscribed 33%

The initial public offering (IPO) of Indian-made foreign liquor maker Ravi Kumar Distilleries was subscribed 0.33 times by 17:30 IST on day one of the issue today, 8 December 2010. The IPO garnered bids for 37.57 lakh shares.

Ravi Kumar Distilleries is offering 1.15 crore shares in a price band of Rs 56 to Rs 64 a share through the IPO which closes on 10 December 2010. The company plans to use the proceeds of the issue for capacity expansion, installation of a re-distillation plant and to part-finance its marketing and corporate branding expenses. Ratings firm CARE has assigned IPO grade 2 to the company IPO indicating below average fundamentals.

Company Profile:

Ravi Kumar Distilleries is engaged in the business of manufacturing Indian Made Foreign Liquor under its own brand portfolio as well as under tie-up arrangements with other companies.

 

[live_wire]

A2Z Maintenance IPO subscribed 81% on second day

The IPO garnered bids for 1.47 crore shares, compared with 1.82 crore shares on offer. The price band for the IPO is Rs 400 to Rs 410 per share.

The company, on Tuesday, 7 December 2010, raised Rs 125.51 crore by selling 31.37 lakh shares at Rs 400 per share to seven anchor investors.

A2Z will use the proceeds of the IPO for the upcoming biomass-based power plants, to partly repay a loan and for general corporate purposes. Ratings firm CARE has assigned IPO grade 4 to the company IPO indicating above average fundamentals.

A2Z is in the business of installation of power distribution lines and sub-stations.

Apart from the EPC/engineering services business, the company is significantly involved in generating power from renewable energy sources. It also provides municipal solid waste (MSW) management services. The company is also into developing information technology solutions for power utilities.

 

[live_wire]

Ravi Kumar Distilleries IPO subscribed 51%

The IPO garnered bids for 58.16 lakh shares, compared with 1.15 crore shares on offer.

The price band for the IPO is Rs 56 to Rs 64 a share. The IPO closes on Friday, 10 December 2010.

The company plans to use the proceeds of the issue for capacity expansion, installation of a re-distillation plant and to part-finance its marketing and corporate branding expenses. Ratings firm CARE has assigned IPO grade 2 to the company IPO indicating below average fundamentals.

Company Profile:

Ravi Kumar Distilleries is engaged in the business of manufacturing Indian Made Foreign Liquor under its own brand portfolio as well as under tie-up arrangements with other companies.

 

[praveen taneja]

Retail investor are shying away from A2Z and HNI not so enthusiastic better u post views of different brokerage house to apply or avoid in any IPO

 

[live_wire]

Retail investor are shying away from A2Z and HNI not so enthusiastic better u post views of different brokerage house to apply or avoid in any IPO

Hello Pravee,

I provide the basic information. I don't suggest whether to invest or not!!

Regards

 

[live_wire]

One97 Communications delays IPO further

One97 Communications Limited , a leading provider of telecommunication value added services in India, has further postponed its IPO due to volatile market conditions. Earlier, the company had already delayed its IPO to Dec. 13 from Dec. 1 due to the same reason.

The company will update its RHP with the latest quarterly results and intends to open the offering within the first two months of calendar year 2011, the source added.

One97 is a leading provider of telecommunications value added services to telecom service providers, consumers and enterprises in India. It develops and purchases content and applications, provides the relevant platform for delivery of our products and services and integrates these products and services with the core network elements of telecom service providers.

Issue proceeds will be used for procuring telecom equipment and software for installation at office as well as various sites of customers.

The Issue has been graded by CRISIL Limited and has been assigned the IPO Grade 3/5 indicating average fundamentals.

IDFC Capital and Avendus Capital are the book running lead managers for the offering.

 

[akashmkj]

can anybody pls tell me if its possible to pay for ipos using credit card? actually many of the ipos are oversubscribed & i don't see any point in blocking the entire amount. So, i was wondering if its possible to bid with the upper limit for retail, then pay for as many shares i have. also if cc is allowed, bank gives 30 days to pay back so i can also sell the shares after listing & pay back without my bank account being touched, of course i assume i made a profit

any pointer??

thanx in advance

 

[live_wire]

S Kumars Nationwide plans Reid & Taylor IPO in Jan-Feb'11

Textile major S. Kumars Nationwides subsidiary company - Reid & Taylor (India) - has filed its DRHP with the SEBI on December 09, 2010 in relation to its IPO of equity shares. The issue includes an offer for sale portion by S. Kumars Nationwide.

Reid & Taylor (India) is reportedly looking to raise around Rs 1,000 crore from the IPO to finance expansion plans. The IPO is likely to hit the market in between January-February 2011.

Reid & Taylor is the first brand in India to offer both fabrics and apparel under one label. The fine quality of garments and sharp styling has created a space for itself in the customers mind. The apparel range includes formal and casual daywear suits, jackets, trousers, shirts ties and accessories along with a wide selection of T-shirts, jeans, and other weekend wear.

 

[live_wire]

MOIL IPO: Listing on 15-Dec-10, Wednesday

Manganese Ore Indias (MOIL) issue price has been fixed at Rs 375 per share at which Rs 1,260 crore will be raised from IPO, and the company is planning to get listed on stock exchanges on December 15, 2010.

The initial public offer (IPO) of state-run manganese producer MOIL was subscribed a massive 54.63 times on the last of the bidding for the issue today, 1 December 2010. The IPO got bids for 189.6 crore shares, compared with 3.36 crore shares on offer.

The government will raise up to Rs 1238 crore at the top end of the price band through the MOIL IPO, which is the part of the government's plan to raise Rs 40000 crore from stake-sale in state-run firms in the current fiscal that ends in March 2011 (FY 2011).

The Centre is divesting 10% stake in the MOIL, while the Madhya Pradesh and Maharashtra state governments will divest 5% each through the public offer. The company will not receive any proceeds from the offer and all proceeds shall go to the selling shareholders.

MOIL posted net profit of Rs 331.46 crore on sales of Rs 635.05 crore for the six months ended September 2010. The annualized earnings per share works out to Rs 39.50.

Subscription details:

Non Institutional investors: 143.30 times
Retail Individual Investors: 32.86 times
Qualified Institutional investors: 49.16 times
Employee reservation: 0.57 times

 

[live_wire]

A blockbuster debut from MOIL, at 50% premium

Shares of state-run manganese producer MOIL debuts at Rs 565 on NSE, at 50% premium over the initial public offer price of Rs 375.

MOIL's initial public offer (IPO) closed on 1 December 2010 with strong investor response. The Rs 1238-crore IPO was subscribed a massive 56.43 times and was priced at the top end of the Rs 340-375 per share price band. Retail investors and MOIL employees were issued shares at Rs 356.25 each, a 5% discount to the IPO price.

Subscription Details:

Non-Institutional Investors: 143.30 times

Qualified Institutional Investors: 49.16 times

Retail Individual Investors: 32.86 times

The MOIL IPO was a part of the government's plan to raise Rs 40000 crore from stake-sale in state-run firms in the current fiscal that ends in March 2011 (FY 2011).

MOIL posted a net profit of Rs 331.46 crore on sales of Rs 635.05 crore for the six months ended September 2010.