Tribhovandas Bhimji Zaveri IPO opens on 24 April 2012

The company fixed IPO price band of Rs 120 to Rs 126

Tribhovandas Bhimji Zaveri (TBZ), a jewellery retailer in India, is entering the capital markets on 24 April 2012, with an initial public offering (IPO) of 1.67 crore shares. The company has fixed an IPO price band of Rs 120 to Rs 126.

The issue will constitute 25% of the post-issue paid-up capital of the company. The issue will close on 26 April 2012.

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Muthoot Finance IPO

Muthoot Finance IPO

Lovable Lingerie sets Rs 195-205 per share IPO price band

IPO opens for bidding on 8 March 2011

Inner-wear manufacturer Lovable Lingerie has fixed a price band of Rs 195-205 per share for its initial public offering (IPO) which opens for bidding on 8 March 2011. The IPO which closes on 11 March 2011 would constitute 27.08% of the post issue paid-up capital of the company. The company plans to raise up to Rs 93.28 crore by offering 45.50 lakh shares through the forthcoming IPO.

IPO Diary

IPO Diary

VA Tech Wabag sets IPO price band of Rs 1230-1310 a share

The IPO opens on Wednesday, 22 September 2010.

VA Tech Wabag, a player in water treatment industry, has fixed a price band of Rs 1,230-1,310 a share for its initial public offering (IPO).

The issue of Rs 472 crore opens for bidding on Wednesday, 22 September 2010 and closes on Friday, 24 September 2010. The book for anchor investors will open on Tuesday, 21 September 2010. Bidding for retail investors will be extended for one more day, closing on Monday, 27 September 2010.

Cantabil Retail sets IPO price band of Rs 127-135 a piece

The IPO opens for bidding on 22 September 2010

Apparel maker Cantabil Retail India said on Friday it has fixed a price band of Rs 127-135 per share for its initial public offering (IPO) to raise up to Rs 105 crore.

Bajaj Corp sets Rs 630-660 per share price band for IPO

The IPO opens for subscription on 2 August 2010

Hair oil producer Bajaj Corp has set Rs 630-660 per share price band for its initial public offering (IPO) of 45 lakh shares. The IPO opens for bidding on Monday, 2 August 2010, and ends on Wednesday, 4 August 2010, for qualified institutional buyers. For retail and non-institutional bidders the offer ends on Thursday, 5 August 2010

Technofab Engineering IPO opens on June 29

Technofab Engineering Ltd. (TEL) has decided to open its Initial Public Offering (IPO) for subscription on June 29, and to close on July 2. Technofab Engineering has filed the Red Hearing Prospectus with the Registrar of Companies, NCT of Delhi and Haryana (RoC) to enter the capital markets with an IPO of 29,90,000 equity shares of face value of Rs.10 each for cash at a price to be decided through a 100% book-building process. The Issue comprises of a reservation of 50,000 Equity shares of Rs.10 each for eligible employees. The issue will constitute 28.50% of the post issue paid-up equity capital of the company. The net issue will constitute 28.03% of the post issue paid-up equity capital of the company.

The company is proposing the IPO to meet long term working capital requirements of Rs300mn, finance procurement of construction equipment for Rs162.38mn, finance setting up of maintenance and storage facility for construction equipment for Rs49.95mn, setting up training centre for employees for Rs54.07mn and balance for general corporate purposes. Fitch Ratings India has assigned a grade of ‘3 (ind)’ out of a maximum of ‘5 (ind)’ to the proposed IPO of TEL. The grade indicates the average fundamentals of the issue relative to other listed equity securities in India. TEL is engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis.

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.

United Bank of India sets IPO price band at Rs 60-66 a piece

IPO remains open for bidding between 23 and 25 February 2010

State-run bank United Bank of India has reportedly set a price band of Rs 60- 66 per share for initial public offer (IPO). The IPO remains open for subscription between 23 and 25 February 2010.

United Bank of India is looking to raise Rs 350 crore by selling 5 crore equity shares of Rs 10 each in the proposed IPO, reports added.

Following the IPO, the government's stake in the Kolkata-headquartered bank would come down to 84.20%, from the current level of 100%.

Credit rating agency, CARE has assigned grade '4' for the IPO, indicating above average fundamentals.

Hathway Cable & Datacom sets price band of Rs 240-265 a share

IPO to open for subscription on 9 February 2010

Hathway Cable & Datacom said today it has set the price band for its initial public offering (IPO) at Rs 240-265 a share. Hathway Cable and Datacom, a cable television services provider, is entering capital market with an initial public offering (IPO) of 2.77 crore equity shares of Rs 10 each on 9 February, 2010. The issue will close on 11 February 2010.

The company has proposed a public issue of 2 crore equity shares and an offer for sale of up to 72 lakh equity shares by shareholders Monet and MSPI Mauritius. The issue will constitute approximately 19.43% of the post-issue share capital of the company. The promoters' holding will be reduced to 66.55% from 77.37%.

The company is a leading cable television services provider in India as well as one of the leading cable broadband services providers. It offers analog and digital cable television services across 125 cities and towns and high-speed cable broadband services across 18 cities.

The objects of the fresh issue are to fund customer acquisitions; investment in the development of digital services and set top boxes; investment in the development of broadband infrastructure, capital expenditure and services; repayment of loans; and fund expenditure for general corporate purposes.

For the period of six months ended on September 2009, it has reported net loss of Rs 35.63 crore and total income of Rs 364.92 crore.

DB Realty sets Rs 468-486 per share price band for IPO

The public issue to open for subscription on 29 January 2010

Mumbai-based realty firm DB Realty is entering capital market with an initial public offering (IPO) of Rs 1,500 crore on 29 January, 2010.

The price band has been fixed at Rs 468-486 per share. The issue will close for subscription on 2 February 2010.

The issue proceeds will be used for its ongoing projects and pre-paying the loan taken from IDFC.

As on 31 August 2009, it has 10 ongoing projects, aggregating approximately 18.61 million square feet of saleable area, 9 forthcoming projects, aggregating approximately 20.17 million square feet of saleable area and 6 upcoming projects, aggregating approximately 22.11 million square feet of saleable area.

Infinite Computer sets IPO price band at Rs 155-Rs 165

Issue to remain open between 11 to 13 January 2009

Infinite Computer Solutions (India)'s initial public offer (IPO) of 1.15 crore equity shares opens for subscription on 11 January 2010. The IPO closes on 13 January 2010.

The company will offer shares through a 100% book-building process. The price band for the IPO has been set at Rs 155 to Rs 165. At the top end of the price band, the company will raise about Rs 190 crore.

The IPO includes fresh issue of 57.,33 lakh equity shares and an offer to sell 57.69 lakh equity shares by Whiterock Investments (Mauritius).

The company intends to utilize the IPO proceeds for meeting capital expenditure, making acquisitions and repaying debt.

Infinite Computer Solutions (India) is mainly into software application development and maintenance but has diversified into other areas such as remote infrastructure management and research & development services.

IPO Outlook 2010

IPO Outlook 2010

Jindal Power files draft prospectus to raise Rs 7200 crore

The Jindal Power's issue proceeds to part finance the construction and development of various thermal power projects, besides for general corporate purpose.

Jindal Power today said it has filed a draft prospectus with market regulator Securities and Exchange Board of India (SEBI) to raise Rs 7,200 crore through its maiden public issue.

Jindal Power, which has set up the country's first mega power project, the 1,000 mega watt (MW) O P Jindal Super Thermal Power Plant at Raigarh in Chhattisgarh, is a subsidiary of Jindal Steel and Power (JSPL).

The company would utilise the issue proceeds to part finance the construction and development of various thermal power projects, besides for general corporate purpose.

Earlier this month the board of JSPL had decided to go for Jindal Power's initial public offer (IPO) for raising up to Rs 10,000 crore.

JSPL is part of the $ 12 billion (over Rs 60,000 crore) steel-to-energy conglomerate O P Jindal Group, led by Naveen Jindal

Jindal Power has invested around Rs 4,500 crore for setting up the Raigarh plant, which was commissioned in record time of less than one year.

JPL is also expanding the capacity of its existing power plant at Tamnar, Uttar Pradesh by setting up a 2400 MW super thermal power plant at an estimated cost of $ 2.40 billion (Rs 12,000 crore).

Gujarat Pipavav Port likely to raise over Rs 500 crore through IPO

To fund Pipavav port expansion

Private port operator Gujarat Pipavav Port (GPPL) is reportedly planning to raise at least Rs 500 crore through an initial public offering (IPO). Reports further indicated that a formal announcement on the planned IPO is expected in the next few days.

The company plans to utilise the IPO proceeds to fund its Pipavav port expansion plans

GPPL also plans to set up a dedicated coal terminal, a coal conveyor belt and a new coal handling system, designed to handle 20 mt of coal by 2016. The port currently handles bulk, containerized and liquefied petroleum gas cargo.

APM Terminals Management BV, the world's third biggest container port operator, owns 54.8% in GPPL, which has rights to develop and operate the port for 30 years that began in September 1998. APM Terminals had acquired control of GPPL from the original promoter, SKIL Infrastructure, in April 2005.

The other shareholders of the company include New York Life International India Fund (Mauritius) LLC, IDFC Infrastructure Fund, IL&FS Trust Company, Jacob Ballas Capital India, Axis Bank, IDBI Bank and India Infrastructure Fund.

Earlier in October 2008, GPPL had filed a draft prospectus with the market regulator Securities & Exchange Board of India (Sebi) for a proposed public offering of shares, which was withdrawn in March 2009 citing poor market conditions.

Prestige Estates Projects files DRHP for an IPO

Plans to raise Rs 1200 crore through a 100% book-building issue

Prestige Estates Projects has filed a draft red herring prospectus (DRHP) with market regulator, the Securities and Exchange Board of India (Sebi). The company plans a public issue of its equity shares having face value of Rs 10 each aggregating Rs 1200 crore through a 100% book-building process. The company is also mulling a pre-IPO placement offer of Rs 200 crore.

The proceeds of the issue would be used to finance the ongoing projects and projects and projects under development. The proceeds will be also deployed in investing in its existing subsidiaries which undertake the projects. Further, the issue proceeds would also be used for acquisition of land and repayment of certain loans of the company.

Prestige Estates Projects is one of the leading real estate development companies in south India. It currently owns or holds development rights for 52.57 million square feet (sq. ft.) of developable area, which includes 24.49 million sq. ft. of saleable area and 9.64 million sq. ft. of leasable area.

Shree Ganesh Jewellery House plans IPO

Plans to issue 1.42 crore equity shares of face value of Rs 10 each

Shree Ganesh Jewellery House, a jewellery maker and exporter, has filed for regulatory approval for its initial public offering of 1.42 crore shares. The issue consists of a fresh issue of 1.21 crore equity shares and an offer for sale of 21.30 lakh equity shares by Mauritius based Credit Suisse Pe Asia Investments. The net issue will constitute 23.52% of the fully diluted post issue paid-up capital of the company. Foreign financial service firm Credit Suisse had invested Rs 80 crore in the company for buying 10.99% equity in March last year.

The firm plans to raise funds to expand operations and diversify into newer products and geographies

Shree Ganesh Jewellery House is planning to set up a gold refinery plant in West Bengal with an annual installed capacity of 1,000 kg of gold. The gold refinery facility, which the company plans to set up, would refine pre-used gold, which would subsequently be utilised as raw material to manufacture jewellery. Currently, the company procures refined gold from suppliers like Al-Marhaba Trading FZC, the Bank of Nova Scotia, the Standard Chartered Bank, apart from the State Trading Corporation of India.

Shree Ganesh Jewellery House is one of the largest manufacturers and exporters of handcrafted gold jewellery in India. The company's manufacturing units are located at Manikanchan special economic zone (SEZ), West Bengal which is known for the availability of craftsmen (karigars skilled in the manufacture of handcrafted jewellery. The company also carries retail marketing of its own products through its branded stores Gaja. Middle East, Singapore and Hong Kong are the major export market for the company's products.