Gemini Engi-Fab IPO of 55 lakh shares
Wednesday, January 28, 2009
Gemini Engi-Fab is engaged in manufacturing and salvaging of process equipments through fabrication for various process industries namely, cement, dairy, refinery, pharmaceutical, petrochemical, power and chemical.
Gemini Engi-Fab is set to tap the capital with its initial public offering (IPO) of 55 lakh equity shares of Rs 10 each for cash. The proposed issue represents 46.40% of the fully-diluted post issue paid-up capital of the company.
The IPO will open for subscription on February 3, 2009 and will close on February 6. The issue will take the book-building route with a price band of Rs 75 to Rs 80 per equity share.
The company hopes to mop up around Rs 41.25-44 crore from the issue plans to use the proceeds for setting up of a manufacturing workshop at Umbergaon in Gujarat.
Domestic rating agency CARE has assigned IPO grade 2 to this issue. [On a scale of 5, 5 being the best] The equity shares will be listed on the BSE and NSE.
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Published by DalalStreet Business @ 10:56 AM IST.
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HCC Considering Lavasa Project IPO
Thursday, January 22, 2009
Hindustan Construction Company (HCC) is planning to raise about Rs 1,500 crore through an initial public offering (IPO) for the Lavasa project near Pune. It is free India's first and largest hill city being developed by Lavasa Corporation an HCC Group Company.The company is planning an IPO to fund the cost of the project and will be entering the primary market by October 2010.
The size of the offering is said to be about 10 % of the valuation of the project which currently stands at Rs 10,000 crore and is expected to go up to Rs 15,000 crore.
The hill city is a joint development project by HCC, Avantha Group and Venkateshwara Hatcheries, with 65%, 15 % and 12.5 % stake respectively. On the other hand the project has received an investment of Rs 450 crore from Axis Bank, Allahbad Bank and Bank of India for a stake of 2.5%, 1.5% and 0.5 %, respectively.
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Published by DalalStreet Business @ 1:34 PM IST.
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NHPC will wait for opportune time for floating IPO
Thursday, January 15, 2009
State-run National Hydro-electric Power Corporation is monitoring the market situation watchfully and is waiting for an opportune time for floating its initial public offer (IPO). Reacting to the news earlier surfaced about canceling the public offer, the management has contended that there was no plan of canceling IPO but it was considering deferring till a suitable time is reached.
The company has planned to raise Rs1,680 crore by issuing a record 168 crore shares of a face value of Rs 10 each. Owing to financial requirements to feed the ongoing 11 projects with a capacity of 4,622 MW, the company has been ogling for suitable market situations to raise funds.
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Published by DalalStreet Business @ 3:41 PM IST.
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36 Cos await to raise Rs 75K cr via IPOs
Monday, January 05, 2009
After being unsuccessful in 2008 to raise Rs 75,000 crore through initial public offering (IPO) route, over three dozen firms are holding back IPO plans to raise an estimated Rs 75,000 crore or over $15 billion for the right market conditions, which analysts believe is unlikely before the year-end.
The overall size of the IPO backlog from 2008 is incidentally more than four times of the total amount raised during the year through this route and almost equals the cumulative capital raised over the past three years.
The slackening in the primary market was primarily due to the poor response to the post-IPO listings in the secondary market and the slump in the investors' sentiments due to overall sluggish market conditions.
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Published by DalalStreet Business @ 4:13 PM IST.
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