Showing posts with label IPO. Show all posts
Showing posts with label IPO. Show all posts
Wednesday, 12 December 2012
PC Jeweller IPO oversubscribed 6 times
Public issue of jewellery manufacturer and retailer PC Jeweller has been subscribed 5.95 times so far, as per data available on the National Stock Exchange.
The issue, which closes today, has received bids for 22.87 crore equity shares (BSE and NSE) as against bids for 3.84 crore shares (excluding anchor investors' portion).
The reserved portion of qualified institutional investors has been oversubscribed 5.24 times while non-institutional and retail investors' portion subscribed 2.97 times and 54 percent, respectively, as per subscription figures available only on NSE.
The company that already raised nearly Rs 91 crore by allocating 67,16,250 equity shares to 10 anchor investors at upper end of price band of Rs 125-135 per share on Friday intends to use issue proceeds for setting up additional 20 showrooms by FY14 with an outlay of Rs 517 crore out of total issue size of Rs 609 crore.
The issue, which closes today, has received bids for 22.87 crore equity shares (BSE and NSE) as against bids for 3.84 crore shares (excluding anchor investors' portion).
The reserved portion of qualified institutional investors has been oversubscribed 5.24 times while non-institutional and retail investors' portion subscribed 2.97 times and 54 percent, respectively, as per subscription figures available only on NSE.
The company that already raised nearly Rs 91 crore by allocating 67,16,250 equity shares to 10 anchor investors at upper end of price band of Rs 125-135 per share on Friday intends to use issue proceeds for setting up additional 20 showrooms by FY14 with an outlay of Rs 517 crore out of total issue size of Rs 609 crore.
Monday, 12 March 2012
MCX - Shining star
MCX IPO may be the lone shining star in the IPO market. The year 2012 has already seen call-off of 11 IPOs, says Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities Limited.
1. MCX had stellar listing today. The listing has generated hopes of revival of IPO market. Almost in all the metrics the MCX IPO has proved to be highly successful. It has brought much needed hope and smile to the Indian IPO market.
2. However, MCX IPO may be the lone shining star in the IPO market. The year 2012 has already seen call-off of 11 IPOs. The probable amount that these 11 IPOs were planning to raise was to an aggregate of Rs 4,771 Crores.
3. The list of the 11 companies who have called-off their IPOs during 2012 include: Micromax, Embassy Property, Lokmat Media, VRL Logistics, etc
4. This is in additon to the call-off of 29 companies during 2011 calendar year. The probable amount that these 29 companies were planning to raise was to an aggregate of Rs 32,400 Crores.
5. So, starting 1st January 2011 till date, about 40 IPOs were called off. The total amount they were expected to raise was about Rs 37,169 Crores.
6. All these 40 companies had valid SEBI approval in hand for their IPOs. Even then, they couldn't open their IPOs within the validity period of one year from the date of SEBI approval.
7. This surely will impact the Indian corporate's ability in fund raising to finance their expansion projects resulting in slow down in capacity building and job creation.
8. Further, the government's disinvestment program which was supposed to bring public issues of several blue-chip PSUs couldn't take off. The recent lukewarm response to ONGC auction can also impact the confidence of the public issue market.
9. IPO market is smiling after MCX listing. However, it needs to be seen whether that smile will get converted into jubilation.
1. MCX had stellar listing today. The listing has generated hopes of revival of IPO market. Almost in all the metrics the MCX IPO has proved to be highly successful. It has brought much needed hope and smile to the Indian IPO market.
2. However, MCX IPO may be the lone shining star in the IPO market. The year 2012 has already seen call-off of 11 IPOs. The probable amount that these 11 IPOs were planning to raise was to an aggregate of Rs 4,771 Crores.
3. The list of the 11 companies who have called-off their IPOs during 2012 include: Micromax, Embassy Property, Lokmat Media, VRL Logistics, etc
4. This is in additon to the call-off of 29 companies during 2011 calendar year. The probable amount that these 29 companies were planning to raise was to an aggregate of Rs 32,400 Crores.
5. So, starting 1st January 2011 till date, about 40 IPOs were called off. The total amount they were expected to raise was about Rs 37,169 Crores.
6. All these 40 companies had valid SEBI approval in hand for their IPOs. Even then, they couldn't open their IPOs within the validity period of one year from the date of SEBI approval.
7. This surely will impact the Indian corporate's ability in fund raising to finance their expansion projects resulting in slow down in capacity building and job creation.
8. Further, the government's disinvestment program which was supposed to bring public issues of several blue-chip PSUs couldn't take off. The recent lukewarm response to ONGC auction can also impact the confidence of the public issue market.
9. IPO market is smiling after MCX listing. However, it needs to be seen whether that smile will get converted into jubilation.
Thursday, 8 March 2012
MCX rises 38% to Rs 1425 on opening trade
A share of MCX, India's largest commodity exchange, shot up 38% on opening to trade at Rs 1425 as against issue price of 1032 on the BSE.
Equilibrium price for a share stands at Rs 1387, so accordingly the upper circuit limit of 20% is at Rs 1660.8 while lower circuit at Rs 1109.6.
It is the first big ticket IPO as well as first public listing of 2012. The company had raised over Rs 663 crore via offer for sale and there was a dilution of 12.6% by selling shareholders. Financial Technologies, a promoter, reduced its stake to 26% from 31.18% via issue.
Equilibrium price for a share stands at Rs 1387, so accordingly the upper circuit limit of 20% is at Rs 1660.8 while lower circuit at Rs 1109.6.
It is the first big ticket IPO as well as first public listing of 2012. The company had raised over Rs 663 crore via offer for sale and there was a dilution of 12.6% by selling shareholders. Financial Technologies, a promoter, reduced its stake to 26% from 31.18% via issue.
MCX expected to list at 35-40% premium to the IPO price of Rs 1,032 apiece
Multi-Commodity Exchange, which received bids worth Rs 35,000 crore for its Rs 660-crore initial public offering (IPO), is set to debut on the domestic bourses on Friday. MCX, the first Indian exchange that will be listed on the bourses, is expected to list at a 35-40% premium to the IPO price of Rs 1,032 apiece, as per the rates in the unregulated grey market.
MCX shares, which were to be listed only on the BSE, will also be available for trading on the National Stock Exchange. But, the hour-long special pre-open session, starting at 9 am to discover the 'equilibrium price' through a call auction will be available only on the BSE.
The 20% circuit filter, starting 10 am, will be based on this equilibrium price. MCX is the first company to be listed after Sebi introduced circuit filters on the listing day. High net worth investors, who had borrowed funds to invest in the offer for sale, would like to see a premium of over 35-40% on listing to be profitable. HNIs have been alloted only a fraction of what they had applied for due to over 150 times subscription in the non-institutional investors category.
A bid worth around Rs 15 crore has fetched about 1,000 shares in the non-institutional category. An investor in the non-institutional category, who borrowed at 12% rate for eight days to subscribe to the issue, will have to pay an interest of about Rs 400 per share.
So, this means the investor, who has borrowed at 12%, will profit only if the share lists above roughly Rs 1,400 apiece. A majority of the borrowings has been made at 12-14% interest rates. MCX will have to list at roughly 35-40% premium if they have to break even on their investment. Retail investors, who put applications worthRs 2 lakh in the issue, have got about eight shares.
"Even a 35% premium may not break-even HNIs' cost of funding as the category saw a huge subscription of 146 times. Most HNIs who have borrowed at 12-14% for 8-10 days, will achieve break-even only if the stock lists at a premium of at least Rs 400," said Ahmedabadbased grey market broker Dhaval Shah. Grey market brokers said the activity has been subdued in the run-up to the listing partly due to weak market sentiment.
MCX shares, which were to be listed only on the BSE, will also be available for trading on the National Stock Exchange. But, the hour-long special pre-open session, starting at 9 am to discover the 'equilibrium price' through a call auction will be available only on the BSE.
The 20% circuit filter, starting 10 am, will be based on this equilibrium price. MCX is the first company to be listed after Sebi introduced circuit filters on the listing day. High net worth investors, who had borrowed funds to invest in the offer for sale, would like to see a premium of over 35-40% on listing to be profitable. HNIs have been alloted only a fraction of what they had applied for due to over 150 times subscription in the non-institutional investors category.
A bid worth around Rs 15 crore has fetched about 1,000 shares in the non-institutional category. An investor in the non-institutional category, who borrowed at 12% rate for eight days to subscribe to the issue, will have to pay an interest of about Rs 400 per share.
So, this means the investor, who has borrowed at 12%, will profit only if the share lists above roughly Rs 1,400 apiece. A majority of the borrowings has been made at 12-14% interest rates. MCX will have to list at roughly 35-40% premium if they have to break even on their investment. Retail investors, who put applications worthRs 2 lakh in the issue, have got about eight shares.
"Even a 35% premium may not break-even HNIs' cost of funding as the category saw a huge subscription of 146 times. Most HNIs who have borrowed at 12-14% for 8-10 days, will achieve break-even only if the stock lists at a premium of at least Rs 400," said Ahmedabadbased grey market broker Dhaval Shah. Grey market brokers said the activity has been subdued in the run-up to the listing partly due to weak market sentiment.
Wednesday, 7 March 2012
Olympic Cards Ltd IPO
Incorporated in 1961, Olympic Cards Ltd is the Manufacturer and Supplier of Invitation cards for all occasions. They are one of the leading manufacturers of paper / board based products, with a presence mainly in southern India. Company is presently in the business of manufacturing and trading Wedding Cards, Greeting Cards, Envelopes, Letter Heads, Business Cards, Calendars, Notebooks, Account Books, etc. They are also trading in the business of printing inks.
Olympic Cards export their products including Wedding cards, Greeting cards, Visiting cards, Envelopes and Printing inks to foreign countries such as Malaysia, Singapore, Sri Lanka & Dubai. They have plans to expand their market presence both within and outside India. Olympic offer various facility to its customers like proof mailing, transporting the goods to their request, attending their queries – and providing solution, etc. It’s a single platform, where most of the customer’s needs are satisfied for any kind of ceremonies and function. As for the customer satisfaction they also give them free service of reminder-sms to their guest from 2 days earlier to the function.
Company Promoters:
The promoters of the company are:
Mr. H. Noor Mohamed
Mrs. S. Jarina
Objects of the Issue:
The objects of the Issue are to finance:
1. Setting up of a new manufacturing unit near Chennai;
2. Capital Expenditure for establishing 4 own retail outlets of the Company;
3. Meet Issue Expenses.
Issue Detail:
»» Issue Open: Mar 09, 2012 - Mar 13, 2012
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: Equity Shares of Rs. 10
»» Issue Size: Rs. 25.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 30 - Rs. 32 Per Equity Share
»» Market Lot: 200 Shares
»» Minimum Order Quantity: 200 Shares
»» Listing At: BSE
Olympic Cards Ltd IPO Grading:
CRISIL has assigned an IPO Grade 1 to Olympic Cards IPO.
This means as per CRISIL, company has 'Poor Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
Olympic Cards export their products including Wedding cards, Greeting cards, Visiting cards, Envelopes and Printing inks to foreign countries such as Malaysia, Singapore, Sri Lanka & Dubai. They have plans to expand their market presence both within and outside India. Olympic offer various facility to its customers like proof mailing, transporting the goods to their request, attending their queries – and providing solution, etc. It’s a single platform, where most of the customer’s needs are satisfied for any kind of ceremonies and function. As for the customer satisfaction they also give them free service of reminder-sms to their guest from 2 days earlier to the function.
Company Promoters:
The promoters of the company are:
Mr. H. Noor Mohamed
Mrs. S. Jarina
Objects of the Issue:
The objects of the Issue are to finance:
1. Setting up of a new manufacturing unit near Chennai;
2. Capital Expenditure for establishing 4 own retail outlets of the Company;
3. Meet Issue Expenses.
Issue Detail:
»» Issue Open: Mar 09, 2012 - Mar 13, 2012
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: Equity Shares of Rs. 10
»» Issue Size: Rs. 25.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 30 - Rs. 32 Per Equity Share
»» Market Lot: 200 Shares
»» Minimum Order Quantity: 200 Shares
»» Listing At: BSE
Olympic Cards Ltd IPO Grading:
CRISIL has assigned an IPO Grade 1 to Olympic Cards IPO.
This means as per CRISIL, company has 'Poor Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
Tuesday, 28 February 2012
MCX fixed its IPO share price at Rs 1032
Multi Commodity Exchange of India Limited (MCX) fixed its IPO share price at Rs 1032/- against its price range of Rs 860/- to 1032/-. Issue of MCX was open for subscription on Feb 22, 2012 and closed on Feb 24, 2012.
Considering the size of the issue MCX IPO received excellent response for its share sold through IPO. Issue subscribed 54.13 times in total and 24.14 times in retail category.
MCX IPO Share Allotment status and MCX IPO listing date are expected around 2nd Mar, 2012. Visit our MCX IPO Detail page to discuss and share your thoughts on listing of MCX shares.
MCX IPO Share Allotment status and MCX IPO listing date are expected around 2nd Mar, 2012. Visit our MCX IPO Detail page to discuss and share your thoughts on listing of MCX shares.
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