Showing posts with label ipo. Show all posts
Showing posts with label ipo. Show all posts
Thursday, September 20, 2007
DLF Assets to raise $1 bn from overseas listing
DLF Assets is expected to file for REIT (real estate investment trust) IPO in Singapore next month, the company sources said. The company was looking to raise about one billion dollars from the public issue, they added. DLF Assets, which has been set up for holding completed commercial assets, is owned by DLF Ltd's promoters. It is independent of DLF Ltd. DAPL was set up for bidding along with other companies in potential assets sales by DLF Ltd. Singh, the chairman of DLF Ltd, had announced in May during the roadshows for DLF's IPO: "Eventually, DLF Assets will be a formidable listed company". The planned REIT by DLF Assets comes close on the heels of IPO by Ascendas India Trust, a business trust with similar characteristics to a REIT, in Singapore stock market. DLF Assets Pvt Ltd (DAPL) had earlier received an investment of 400 million dollars and 200 million dollars from global investing firm D E Shaw and a fund sponsored by investment banking firm Lehman Brothers respectively. The sale of commercial assets to DLF Assets contributed Rs 2,207 crore to DLF Ltd's revenue and Rs 1,564 crore to its profit before tax in 2006-07, making up around 55 per cent of DLF Ltd's revenue and 61 per cent of its pre-tax profit.
Friday, September 14, 2007
Power Grid Corp’s IPO subscribed 64 times
The Initial Public Offering (IPO) of the state-owned power transmission company, Power Grid Corporation of India Ltd. (PGCIL) got subscribed 64.23 times on the last day of the issue backed by good response from the institutional investors. As of 5 pm on Thursday, PGCIL received bids for 36.8 billion shares against its equity issue size of 573.9 million shares. The price band of the 100 per cent book built issue was fixed in the range of Rs 44-52 per share by the company.
PGCIL offered to sell its 382.6 million new shares while the government of India offered to offload 191.3 million shares. The company has planned to reserve 13.98 million shares for eligible employees and the net offer to the public will be 559.9 million shares. The shares on offer will thus account for 13.6 per cent of PGCIL’s fully diluted post-issue paid up capital and the stake of the government of India is expected to decrease to 86.3 per cent from 100 per cent currently.
PGCIL’s fund raising is to part finance its capital expenditure. India’s transmission sector needs investment worth Rs 70,000 crores during the 11th five-year plan ending in 2012 as laid out by the planning commission. Most of India’s inter-state and inter-regional power transmission systems are currently owned and operated by PGCIL. The company owned and operated 61,875 km long electrical lines and 106 electrical substations in India. During the fiscal year 2006-07, PGCIL transmitted around 298 billion units power in India.
PGCIL offered to sell its 382.6 million new shares while the government of India offered to offload 191.3 million shares. The company has planned to reserve 13.98 million shares for eligible employees and the net offer to the public will be 559.9 million shares. The shares on offer will thus account for 13.6 per cent of PGCIL’s fully diluted post-issue paid up capital and the stake of the government of India is expected to decrease to 86.3 per cent from 100 per cent currently.
PGCIL’s fund raising is to part finance its capital expenditure. India’s transmission sector needs investment worth Rs 70,000 crores during the 11th five-year plan ending in 2012 as laid out by the planning commission. Most of India’s inter-state and inter-regional power transmission systems are currently owned and operated by PGCIL. The company owned and operated 61,875 km long electrical lines and 106 electrical substations in India. During the fiscal year 2006-07, PGCIL transmitted around 298 billion units power in India.
Monday, August 27, 2007
Rural Electrification Corp files papers for Rs 1200cr IPO
State-run power sector firm Rural Electrification Corporation has filed a draft red herring prospectus (DRHP) with market regulator SEBI for its initial public offer through which it expects to raise up to Rs 1,200 crore.
The company has filed a DRHP with SEBI for the maiden public issue, in which about 15.6 crore shares would be offered, an REC spokesperson said.
These shares constitute 20% of the existing equity capital of REC, he added.
REC would issue the shares at a price to be decided through the book building process and the scrip would be listed on Bombay Stock Exchange and National Stock Exchange.
The proceeds of the issue would be utilised to meet the company's future corporate requirements, the spokesperson said.
Power Grid Corporation of India has also filed its red herring prospectus with the market regulator for an initial public offer to raise an estimated Rs 3,500 crore.
Last year, the Cabinet Committee on Economic Affairs had approved the proposal for initial public offerings of three state-owned power companies - Power Finance Corporation, Power Grid Corporation and Rural Electrification Corporation, reports Business Standard.
The company has filed a DRHP with SEBI for the maiden public issue, in which about 15.6 crore shares would be offered, an REC spokesperson said.
These shares constitute 20% of the existing equity capital of REC, he added.
REC would issue the shares at a price to be decided through the book building process and the scrip would be listed on Bombay Stock Exchange and National Stock Exchange.
The proceeds of the issue would be utilised to meet the company's future corporate requirements, the spokesperson said.
Power Grid Corporation of India has also filed its red herring prospectus with the market regulator for an initial public offer to raise an estimated Rs 3,500 crore.
Last year, the Cabinet Committee on Economic Affairs had approved the proposal for initial public offerings of three state-owned power companies - Power Finance Corporation, Power Grid Corporation and Rural Electrification Corporation, reports Business Standard.
Saturday, August 25, 2007
Magnum Ventures IPO opens on 27 August 2007
Price band Rs 27 - 30 a share
Magnum Ventures is entering the capital markets with an IPO of 1.76 crore equity shares for cash at a premium to be decided through a 100% book built process. The issue will open on 27 August 2007 and will close on 30 August 2007.
The company has fixed a price band between Rs 27 - Rs 30 per equity share of Rs 10 each. The minimum lot size for the IPO is 200 share and multiples of 200 shares thereafter.
At the Rs 27-30 per share price band, the PE multiple works out in the range of 12.27- 13.63, based on the year ended March 2007 EPS of Rs 2.2.
Magnum Ventures is engaged in trading and manufacturing of paper for more then 25 years and now plans to enter into the hospitality sector by setting up a 4-star business hotel with 212 rooms, conference halls, food and beverages and other facilities at Sahidabad district near Delhi at a cost of Rs 10.63 crore.
It has entered into a management and territory licence agreement with the Country Development & Management Services Pvt Ltd (CDMS), which has the right to offer franchise of the hotel brand Country Inn & Suites by Carlson group. The proposed hotel will be fully operational by April 2009.
The company also plans to modernize its production facilities, at its two paper units by technological upgradation, including replacement of plant and machinery at a cost of Rs 50 crore.
Magnum Ventures reported net profit of Rs 8.27 crore on sales of Rs 90.74 crore in the year ended March 2007.
Magnum Ventures is entering the capital markets with an IPO of 1.76 crore equity shares for cash at a premium to be decided through a 100% book built process. The issue will open on 27 August 2007 and will close on 30 August 2007.
The company has fixed a price band between Rs 27 - Rs 30 per equity share of Rs 10 each. The minimum lot size for the IPO is 200 share and multiples of 200 shares thereafter.
At the Rs 27-30 per share price band, the PE multiple works out in the range of 12.27- 13.63, based on the year ended March 2007 EPS of Rs 2.2.
Magnum Ventures is engaged in trading and manufacturing of paper for more then 25 years and now plans to enter into the hospitality sector by setting up a 4-star business hotel with 212 rooms, conference halls, food and beverages and other facilities at Sahidabad district near Delhi at a cost of Rs 10.63 crore.
It has entered into a management and territory licence agreement with the Country Development & Management Services Pvt Ltd (CDMS), which has the right to offer franchise of the hotel brand Country Inn & Suites by Carlson group. The proposed hotel will be fully operational by April 2009.
The company also plans to modernize its production facilities, at its two paper units by technological upgradation, including replacement of plant and machinery at a cost of Rs 50 crore.
Magnum Ventures reported net profit of Rs 8.27 crore on sales of Rs 90.74 crore in the year ended March 2007.
Monday, August 20, 2007
Motilal Oswal to raise funds
Aug. 19: Motilal Oswal Financial Services Ltd has offered a public issue of 2,982,710 equity shares of Rs 5 each at a premium. The issue includes a reservation of 142,310 equity shares for the subscription by the eligible employees of the company. The net issue will constitute 10 per cent of the post issue paid up capital of the company. The issue opens on August 20 and closes for the subscription on August 23.
INDOWIND ENERGY LTD
INDOWIND ENERGY LTD has offered a public issue of 1,25,00,000 equity shares of Rs 10 each at a premium. The issue includes a reservation of 2,60,000 equity shares for subscription by the eligible employees of the company. The net issue will constitute 25 per cent of the post issue paid up capital. The issue opens on August 21 and closes for subscription on August 24. The company has not opted for IPO grading.
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