Avoid Fortis HealthCare Issue
Thursday, April 19, 2007
Logn Term and investors without an appetite for Risk can blindly avoid the IPO of Fortis Healthcare. Our IPO Analysts had recommended an Avoid on Cairn Energy and had also told to BUY around Rs 100[It made a Low of Rs 110].
Fortis healthcare is a Ranbaxy promoter group company. Ranbaxu is facing one setback after the other and current management is not as strong as it used to be under late Dr. Parvinder Singh. Fortis is a recent entrant and is using acquisition and heavy investment to expand. This is a capital intensive business and hence the promoters decision for an IPO. Their have been some Pre-IPO PE Fund investments but small retail investors don't have the appetite as PE Funds do :-)
Fortis has been in Red since its operations. Fortis' acquisition of Escorts is also in controversy and this is the major revenue contributor to Fortis' bottomline. Fortis' healthcares patient occupancy rates are also low [around 75% of capacity]. Overall not a worthy issue at an offer price between Rs 92 to Rs 110. You will get it below offer price after listing.
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Published by DalalStreet Business @ 2:12 PM IST.
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ICRA Allotment Status
Thursday, April 12, 2007
You can now check the allotment status of ICRA here. The IPO of ICRA was subscribed 75 times. The ratio of allotment for retail 1 Lakh application is 1:2.5. Grey Market Premium is Rs 125 / share and is varying widely depending on the market swing.
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Published by DalalStreet Business @ 5:58 PM IST.
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Forthcoming Indian Real Estate IPOs
Ahluwalia Contracts ( India ) Rs 250 crore
Alliance Nirmaan Rs 200 crore
DLF Universal Rs 12,000 crore
Goel Ganga Group Rs 500 crore
IJM(India) Infrastructure Rs 400 crore
IVRCL Prime Urban Developers Rs 500 core
JMD Promoters Rs 500 crore
KNR Constructions Rs 160 crore
Kumar Builders Rs 500 crore
Mantri Developers Rs 500 crore
Omaxe Rs 1,500 crore
Puravankara Projects Rs 1,300 crore
RMZ Corporation Rs 200 crore
Taneja Developers Rs 300 crore
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Published by DalalStreet Business @ 5:50 PM IST.
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