Category: India IPO Reviews and Updates

National Hydroelectric Power Corporation (NHPC), which is set to tap the capital market with its initial public offering (IPO) next month, has fixed the price band for the issue at Rs 30-36. The issue will take the book building route to raise the funds.

The IPO is set to open for subscription on August 7 and will close on August 11, 2009. The issue comprises 168 crore shares comprising 5% dilution of the govt’s stake and a 10% fresh issuance. NHPC plans to mop up between Rs 5,040 crore and Rs 6,048 crore from the issue. (more…)

Adani Power Ltd (APL) is a power project development company and plans to add 6,600MW power generation capacity by FY12 with total capital cost of Rs284bn.

Adani Global, a wholly owned subsidiary of AEL, has entered into agreements with holders of long-term exploitation licences to exclusively mine coal in Bunyu Island, Indonesia.

All of Adani’s Power plants will be COAL based which is globally considered as Dirty Energy. The Indian Government is mere spectator with its flawed energy policy by not encouraging renewable energy and dancing to the tunes of Dirty Energy producers. Worldwide, dirty energy plants are forced to shutdown and Wind Power Mills are established and Suzlon is cashing on the same. (more…)

Awaiting response from the Parliament to go public, life insurance companies are seemingly looking to put their plans of listing on the stock exchanges on the backburner. Notably, Parliament’s nod for the Insurance Bill is also expected to enhance the foreign investment limit. Insurers feel that going for an IPO would require examining actual situation after the Parliament clears the Bill as ground realities may change. (more…)

Here is a list of Government owned companies that are likely candidates for Disinvestment. The Government holding in most companies is over 90% and if the 75% rule is brought into force Government will divest in most companies in the next 2 years upto 75% and then later reduce it to 51%. The following chart shows the details.
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We have received the final Basis of Allotment for Mahindra Holidays and Resorts IPO just a while ago from the Merchant Bankers which was finalized in consultation with SEBI.

All applications for Rs 100,000 [1 Lakh] have received firm allotment of 102 shares. The following data sheet shows the basis of allotment for all categories of retail investors. (more…)

Power Grid Corporation of India is considering floating a follow-on-public offer (FPO) by the end of this financial year or in the start of next year to mop-up Rs 3,000 crore.

The state-run entity looks to infuse 15% fresh equity through the issue, as added by the company’s CMD S K Chaturevedi.

The company has reported decent numbers for fiscal 2008-09, its net profit surged 16.72% during the fiscal to Rs 1,690.61 crore while the total income rose 38.32% to Rs 7,028.54 crore. (more…)