Daily updates on Initial Public Offers (IPO)

[live_wire]

A2Z Maintenance debuts tomorrow, 23 Dec'10

Engineering, procurement and construction (EPC) services provider A2Z Maintenance and Engineering Services will be listing its equity shares on exchanges on December 23. It has fixed an issue price at lower end of price band of Rs 400-410 a share.

(A2Z) ended on Friday, 10 December 2010, with 96% subscription. The IPO garnered bids for 1.76 crore shares compared with 1.82 crore shares on offer.

It 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.

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.

Listing Details

Listing Date: Thursday, December 23, 2010
BSE Scrip Code: 533292
NSE Symbol: A2ZMES
Issue Price: Rs. 400.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share

Subscription Details

Qualified Institutional Investors: 68 times
Retail Individual Investors: 33 times
Non Institutional Investors: 3.12 times

 

[live_wire]

Shekhawati Poly-Yarn IPO opens on 27th December

Shekhawati Poly-Yarn Ltd is entering into the capital markets with an initial public offering, IPO of 12,000,000 Equity Shares of Rs. 10 each issued for cash at a premium of Rs 20/- per equity share i.e. at a price of Rs 30/- per equity share aggregating to Rs 3600 Lacs.

Shekhawati Poly-Yarn Ltd is a leading manufacturer of Polyester Texturised Yarn & Twisted Yarn. Polyester Texturised Yarn (PTY) mainly used for manufacturing apparels i.e. suiting, shirting, dress materials, saris, hosiery, knitted fabric, zipper fastener, curtain & industrial cloth as also to manufacture fancy yarn for high value dress materials and upholstery.

Issue Detail:

Issue Open: Dec 27, 2010 - Dec 29, 2010
Issue Size: 12,000,000 Equity Shares of Rs. 10
Issue Size: Rs. 36.00 Crore
Issue Price: Rs. 30 Per Equity Share
Market Lot: 200 Shares

 

[rajeshn2007]

Re: A2Z Maintenance debuts tomorrow, 23 Dec'10

Engineering, procurement and construction (EPC) services provider A2Z Maintenance and Engineering Services will be listing its equity shares on exchanges on December 23. It has fixed an issue price at lower end of price band of Rs 400-410 a share.

(A2Z) ended on Friday, 10 December 2010, with 96% subscription. The IPO garnered bids for 1.76 crore shares compared with 1.82 crore shares on offer.

It 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.

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.

Listing Details

Listing Date: Thursday, December 23, 2010
BSE Scrip Code: 533292
NSE Symbol: A2ZMES
Issue Price: Rs. 400.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share

Subscription Details

Qualified Institutional Investors: 68 times
Retail Individual Investors: 33 times
Non Institutional Investors: 3.12 times

Hi,
the sub details are mentioned wrong.
Qib 0.6800
non inst 3.1200
retail 0.3300
total 0.9600

 

[Sauron]

Re: Shekhawati Poly-Yarn IPO opens on 27th December

Shekhawati Poly-Yarn Ltd is entering into the capital markets with an initial public offering, IPO of 12,000,000 Equity Shares of Rs. 10 each issued for cash at a premium of Rs 20/- per equity share i.e. at a price of Rs 30/- per equity share aggregating to Rs 3600 Lacs.

Shekhawati Poly-Yarn Ltd is a leading manufacturer of Polyester Texturised Yarn & Twisted Yarn. Polyester Texturised Yarn (PTY) mainly used for manufacturing apparels i.e. suiting, shirting, dress materials, saris, hosiery, knitted fabric, zipper fastener, curtain & industrial cloth as also to manufacture fancy yarn for high value dress materials and upholstery.

Issue Detail:

Issue Open: Dec 27, 2010 - Dec 29, 2010
Issue Size: 12,000,000 Equity Shares of Rs. 10
Issue Size: Rs. 36.00 Crore
Issue Price: Rs. 30 Per Equity Share
Market Lot: 200 Shares

Any feeds on this issue? Its a relatively smaller IPO should I go in for it?
Guys please let me know

 

[amal]

Re: Shekhawati Poly-Yarn IPO opens on 27th December

Any feeds on this issue? Its a relatively smaller IPO should I go in for it?
Guys please let me know

CARE Limited has assigned an IPO Grade 2 to Shekhawati Poly-Yarn Ltd IPO. This means as per CARE, company has 'Below Average Fundamentals'.

* This is the info that I got from my broking house. Hope it helps..

 

[live_wire]

Re: A2Z Maintenance debuts tomorrow, 23 Dec'10

Yeah...thanks for correcting !!!

wrote it by mistake !!!

 

[live_wire]

Midvalley Entertainment IPO opens on 10 Jan'11

South based media & entertainment company Midvalley Entertainment (MVEL) will be launching its Rs 60 crore initial public offering (IPO) on January 10, 2011. The issue will close for subscription on January 12.

The price band and minimum bid lot will be announced soon.

Company Profile:

It is a film production, distribution and exhibition company, actively engaged in the media and entertainment industry in South India. It has presence in the media and entertainment activity from concept to completion i.e. from script to screen. It produces, distribute and exhibit movies both in Indian and foreign languages. The company also operates and manages a chain of 69 theatres in distribution territories of Hyderabad and Tamil Nadu.

Issue proceeds would be used for entering into screening agreements with 300 cinema theatres; renovation and up-gradation of cinema infrastructure with digital equipment and other related assets for a select 100 screens; and acquisition of company, acquisition of screening rights of company having similar line, range and objects of business.

 

[live_wire]

Midvalley IPO fully subscribed on 2nd day

At 16:00 IST, Chennai-based Midvalley Entertainment's initial public offer (IPO) was subscribed 1.10 times on the second day of subscription. The IPO garnered bids for 1.03 crore shares, compared with 93.75 lakh shares on offer. ( NSE Report)

Company Profile:

It is a film production, distribution and exhibition company, actively engaged in the media and entertainment industry in South India. It has presence in the media and entertainment activity from concept to completion i.e. from script to screen. It produces, distribute and exhibit movies both in Indian and foreign languages. The company also operates and manages a chain of 69 theatres in distribution territories of Hyderabad and Tamil Nadu.

Issue proceeds would be used for entering into screening agreements with 300 cinema theatres; renovation and up-gradation of cinema infrastructure with digital equipment and other related assets for a select 100 screens; and acquisition of company, acquisition of screening rights of company having similar line, range and objects of business.

Issue Details:

Issue Open: Jan 10, 2011 - Jan 12, 2011
Issue Size: Rs 60 Crore
Face Value: Rs 10 Per Equity Share
Issue Price: Rs 64 - Rs 70 Per Equity Share
Market Lot: 95 Shares

 

[live_wire]

Tata Steel FPO likely to open on 19-Jan

Tata Steel, the worlds No. 7 steelmaker, plans to come out with a follow on public offering (FPO) of 5.7 crore shares to raise about Rs 4,000 crore, says reports.

FPO will reportedly open on 19 January and close on 21 January 2011.

After the additional issuance of equity, Tata Group's holding in the company will decline from 32.48% to 30.55%.

The price band for the share sale and the minimum bid lot for the issue will be decided by the company in consultation with the book running lead managers (BRLMs), the filing added.

Company may launch a series of roadshows on January 20 to attract investors to the proposed FPO.

Meanwhile, the company is expanding its Jamshedpur steel plant to 10 million tonnes annual capacity as against 6.8 mt currently and is expected to complete the plant by September 2011. The project size is Rs 13,000 crore and the debt component has been finalized by the company. The project is based on a 1.5:1 debt to equity ratio.

Moreover, the company has also planned a six-mt steel plant at Kalinganagar, Orissa, which will be set up in two phases of three mt each. Along with this, A five-mt plant in Chhattisgarh is also on the anvil.

Besides this, an agreement has been signed by the company with Nippon Steel in order to set up an automobile-grade steel manufacturing unit for a total cost of Rs 2,300 crore. Tata Steel will have 51 per cent stake in the joint venture company.

 

[live_wire]

2011 IPO's: Micromax, Tata Autocomp, IOT Infra, L&T Finance...

Micromax

India's biggest domestic mobile handset seller, Micromax Informatics is expected to go public early in 2011. The company is expecting to raise 426 crore through the offer, report says.

The company will use 50 percent of the IPO proceeds to set up a handset manufacturing plant in India while the rest would be spent in areas such as marketing and expansion.

M Financial, Citigroup, Edelweiss and Nomura are the book running lead managers to the issue.

Tata Autocomp Systems IPO

Auto parts maker, Tata Autocomp Systems is to enter capital markets so as to raise 750 crore through an Initial IPO which include equity shares of 10 each. As per the prospectus, shareholders including Tata Motors, Tata Sons, Tata Capital and Tata Industries will together sell nearly 35.63 million shares in the company.

The Book Running Lead Managers to the offer are JM Financial Consultants, Tata Capital Markets and JP Morgan India.

The issue will dilute the company's post-issue equity capital by at least 25 percent. The company reported 41.77 crore net profit for the year ended March 31, 2010. For the half year ended September 30, 2010, profit stood at 35.62 crore.

IOT Infrastructure and Energy Services IPO

Indian Oil Corporation (IOC) co-promoted oil EPC firm, IOT Infrastructure and Energy Services is all set to hit the capital market with an IPO of 800 crore before March 11. The company had filed its Draft Red Herring Prospectus with SEBI for the IPO in September which entails marginal divestment by its existing owners and issue of fresh shares.

Proceeds of the IPO are to be used for a capital expenditure of 1,920 crore for setting up a facility in Paradip and 350 crore outlay planned for a unit in Raipur. The public issue involves sale of 58.19 million fresh shares and offer for sale (divesment) of 14.59 million shares by the promoters.

L&T Finance IPO

L&T Finance, the financial arm of Larsen and Toubro (L&T) has filed for an IPO to raise 1,500 crore, which is expected to hit the capital market in the fourth quarter of FY2011. The dilution for L&T Finance IPO will be around 10-12 percent.

The company intends to utilize the proceeds from the issue to meet the capital adequacy requirements to support the future growth in their business.

The book running lead managers to the issue are HSBC, Citigroup, JM Financial, Barclays Capital, and Credit Suisse.

HPCL-Mittal Energy (HMEL) IPO

The joint venture between Hindustan Petroleum Corporation and Singapore-based Mittal Energy Investment, HPCL-Mittal Energy (HMEL) is going to sell 10 percent stake each in the Bathinda refinery in a public offering in Q4 of 2011. The IPO is expected to raise 1,000-1,500 crore. Both HPCL and Mittal Energy hold stake of 49 percent each in the company, while the financial institutions hold the rest 2 percent.

Net Alter Software

Mumbai based Net Alter Software, business of developing, marketing and distributing computer software and technology is proposing to enter capital markets with an initial public offering (IPO) of 39 lakh equity shares of Rs 10 each for cash to the existing equity shareholders of the company.

Main object of the issue is to meet the fund requirements for project to develop and commercialise NetAlter System and other software products, which requires funding of Rs 48.16 crore.

Lokmat Media

Mumbai based Lokmat Media engaged in print media businesses is proposing to enter capital markets with an initial public offering (IPO) of 13,829,064 equity shares of Rs 10 each for cash to the existing equity shareholders of the company

The company intends to utilise the net proceeds for (i) Capital expenditure for upgrading existing printing facilities; (ii) Building capability for expansion to new markets; (iii) Brand building, promotion and marketing; (iv) Pre-payment and repayment of loans; (v) Acquiring and co-producing Indian films, including primarily Marathi language films as well as certain Hindi language films; (vi) Investment in IBNL; and (vii) General corporate purpose.

Taksheel Solutions

Gujarat based Taksheel Solutions is proposing to enter capital markets with an initial public offering (IPO) of Rs 55 lakh of Rs 10 each for cash to the existing equity shareholders of the company.

TSL is an IT solution company focused on providing products and services for the companies engaged in financial services industry & telecom.

PNB Investment Services and Bigshare Services (P) are helping the company in the process of raising funds from the market.

Modern Tube Industries

Gujarat based Modern Tube Industries is proposing to enter capital markets with an initial public offering (IPO) of Rs 65 cr. of Rs 10 each for cash to the existing equity shareholders of the company.

Modern Tube Industries Limited is engaged into manufacturing of Stainless Steel Welded /Seamless pipes, tubes and U-tubes.

Aryaman Financial Services and Link Intime (India) are helping the company in the process of raising funds from the market.

NOTE: The companies have filed a Draft Red Herring Prospectus with market regulator, The Securities and Exchange Board of India (SEBI).