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Saturday, March 20, 2010
SBI March 2010 futures at premium
Turnover rises
Nifty March 2010 futures were at 5,269.60, at a premium of 6.80 points over spot closing of 5,262.80. Turnover in NSE's futures & options (F&O) segment increased to Rs 75841.36 crore from Rs 73500.18 crore on Thursday, 18 March 2010.
State Bank of India (SBI) March 2010 futures were at premium at 2061 compared to the spot closing of 2052.
Reliance Industries March 2010 futures were at premium at 1094.50 compared to the spot closing of 1092.70.
Sesa Goa March 2010 futures were near spot price at 451.90 compared to the spot closing of 452.
In the cash market, the S&P CNX Nifty rose 16.90 points or 0.32% at 5,262.80.
IntraSoft IPO at Rs 137-145 per share price band
Issue opens on 23 March 2010
IntraSoft Technologies, which owns 123greetings.com, has priced its initial public offer of 37 lakh equity shares of face value Rs 10 each in the Rs 137 to Rs 145 per share price band. The issue will open on 23 March 2010, and will close on 26 March 2010.
The company will raise Rs 50.69 crores at the lower end of the price band and mop up Rs 53.65 crores at the upper end. The issue constitutes 25.12% of the post issue paid up capital.
At least 50% of the book build issue will be reserved for qualified institutional buyers (QIBs); not less than 15% reserved for non-institutional bidders and 35% reserved for retail individual bidders.
IntraSoft plans to fund the company's requirements for branding & promotion, purchasing a corporate office in Kolkata, and investment in technology infrastructure from the issue proceeds.
CARE has assigned IPO Grade 3 to the IPO, indicating average fundamentals.
Goenka Diamond and Jewels sets Rs 135-Rs 145 per share IPO price band
Issue opens on 23 March 2010
Goenka Diamond and Jewels has fixed a price band of Rs 135-145 per share for its initial public offering (IPO) of 1 crore equity shares.
The issue will open for subscriptions on 23 March 2010 and close on 26 March 2010. The IPO will constitute 30.93% of the fully diluted post issue paid up capital of the company.
Promoters' holding will be reduced to 69.07% from 100%. Nand Lal Goenka, Navneet Goenka and Nitin Goenka are main promoters of this company. They will dilute their stake to 55.27% from 80.01% via this issue.
Goenka Diamond and Jewels is engaged in the business of cutting and polishing of diamonds and manufacturing and retailing of diamond jewellery.
The company aims to utilise the issue proceeds for meeting the expenses of establishing retail diamond jewellery stores, to meet working capital requirements of the jewellery business, to establish a jewellery manufacturing facility and a diamond processing facility in Mumbai.
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