Category: India IPO Reviews and Updates

South Indian Bank has allotted 2 crore equity shares to qualified institutional buyers (QIB). The equity shares issued through qualified institutions placement (QIP) for Rs 10 each with a premium of Rs 153 per share. The purpose of QIP is to augment the capital base.

Kerala-based private-sector, SIB’s net profit rose 101.8% to Rs 30.37 crore on 41.8% growth in operating income to Rs 321.97 crore in Q1 June 2007 over Q1 June 2006.

SIB’s current equity share capital is Rs 70.41 crore. Face value per share is Rs 10.

Allotment status of Power Grid IPO can be now checked here.

With the BSE Sensex scaling new highs, small and medium sized startup companies plan to go Public and raise as much money as possible.

We have learnt that OnMobile Global Limited a company operating in the Mobile Space in India has filed for DHRP with SEBI.

Bangalore based Brigade Enterprises Ltd, the flagship company of Brigade Group is an ISO 9001 : 2000 company with over (more…)

Power Grid IPO has set a new record in the Indian Capital Market Today. Here is the final tally as received by Fax just minutes ago,

All Retail applications for 1875 shares @ Rs 52 each will be allotted 288 shares. Congratulations!!! The Grey Market Premium has moved up to Rs 12 today. We suggest Investors to HOLD for Long Term.

Questions and Comments are welcome – feedback @ dalalstreet.biz

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The NSE and BSE shutdown systems accepting applications for the IPO of Power Grid corporation of India Ltd. Our IPO Analyst had a Blindly Subscribe recommendation for the Public issue.

At 20:00 hrs IST, the cumulative demand was 64.77 times higher than what was offered making this the biggest success IPO success stories in the history of Indian capital markets.

The Big Numbers:
IPO Offering was for Rs 2,985 crore [$742 million]. Together the company received bids amounting to $48 Billion. This is BIG BIG Number. This record was previously held by Power Finance Corporation of India Ltd.Few years ago, the entire budget of Republic of India was $100 Billion and today just one Indian company is seeing a demand half of the Indian Budget 🙂

Investors can blindly subscribe to the IPO of Powergrid Corporation India Ltd [PGCIL] at Cut Off price. Powergrid is into the Power Transmission business and controls over 45% of the Indian market. It has transmission lines of 61,875 Kms.

Proceeds of this IPO will be utilized in the forthcoming 15 power line transmission projects. With tremendous thrust for the Power sector in India, PGCIL is all set to cash in on this boom.

The IPO is roughly of Rs 1,000 crore to the Retail Indian investor. Even if the IPO is subscribed 15 times, you still stand to get 125 shares. We recommend investors to subscribe to the issue. Grey market premium is just Rs 10. But PGCIL is more of a long term story so invest and HOLD tight for the next few years.

Here are PGCIL Recommendations – One and Two.

Tecpro Systems (TSL), engaged in the business of undertaking turnkey projects in Bulk Material Handling Systems including raw material handling systems for power, steel, cement plants etc., propose to enter the capital market with an initial public offering through a book built issue of 7,300,000 equity shares and has filed its Draft Red Herring Prospectus with SEBI. The issue will constitute 22.33% of the fully diluted post issue paid-up capital of the company.

TSL installs conveyor systems and manufactures equipment such as crushers, screens, feeders, conveyor components like Idlers and pulleys and undertakes structural steel fabrication. TSL has received ICICI CNBC Emerging India 2007 award powered by CRISIL in the infrastructure category.

TSL is promoted by Mr. Ajay Kumar Bishnoi, Chairman & Managing Director and Mr. Amul Gabrani, Vice Chairman & Managing Director