09 Jun 07 ICICI Bank IPO : ICICI Bank mega FPO
June 2007 is likely to be remembered by Indian investors investing in the primary IPO market for a long time, as the month of the mega IPO issues. Just one week after the mega 9500 crore DLF IPO, ICICI bank will be coming out with a 10,000 crore IPO issue. The ICICI Bank IPO is scheduled to open for subscription on June 18th. However, the ICICI Bank IPO may be postponed since the investment bankers managing the ICICI Bank IPO issue feel that the DLF IPO will suck out all the liquidity in the market. It would be perfect for the ICICI Bank IPO to open for subscrition in july when the refund from the DLF IPO would have arrived and most retail investors would have cashed out after DLF lists in the stock market. ICICI Bank will also sell 5% stake in the ICICI group holding company, ICICI holdings. Following the increase in interest rates, banks including ICICI Bank, Central Bank are coming out with IPO / FPO issues to raise cheap funds. Banks will also need capital for the meeting the CAR as per the BASEL II norms. For more details about the ICICI Bank IPO keep checking this space regularly. ICICI Bank IPO is likely to be priced at about Rs. 900. In its previous FPO, ICICI Bank offered a 5% discount on the IPO issue price for retail investors. Hope ICICI Bank follows the same strategy this time too. In its previous IPO ICICI Bank had a green shoe option which acts as an insurance, to a certain extent, against the unlikely event of the share price falling below the IPO issue price, soon after listing.
02 Jun 07 UTI Bank FPO (follow on public issue)
UTI Bank has informed the stock exchanges that the board of UTI Bank has decided to raise capital through a FPO by issuing upto 4,23,97,400 equity shares. UTI Bank may also go in for an ADR / GDR issue. The board of UTI Bank has also resolved to increase the authorized share capital of UTI Bank from Rs. 300 crores to Rs. 500 crores to accomodate the new capital that UTI Bank is planning to raise through a FPO and ADR/GDR issue
29 May 07 Rupee touches new high ahead of DLF IPO
The Indian rupee touched a new nine year high against the US Dollar, anticipating huge foreign inflows into the country due to the DLF IPO and the ICICI Bank fund raising exercise. ICICI Bank will be raising 20,000 crores while the DLF IPO will raise about 10,000 crores. Hence there would be thousands of crores worth of US Dollars coming into the country, increasing the demand for the Indian rupee. The Indian rupee ended the day at 40.40 after touching a new nine year high.
22 May 07 Syndicate Bank FPO :Public Issue of 8 crore shares
The board of directors of Governement owned Syndicate Bank has approved a follow on public issue (FPO) of 8 crore equity shares through a 100% book building process. The price band will be fixed after discussion with the government, RBI and investment bankers. The funds will be used as TIER I capital to boost the capital adequacy ratio (CAR ) of Syndicate Bank in order to comply with the BASEL II norms.
30 Apr 07 ICICI Bank follow on public issue FPO
The board of directors of ICICI Bank, at their meeting today, approved raising additional equity capital through a public issue of shares by coming out with a follow on public issue (FPO) and American Depositary Shares (ADS). The follow on public issue (FPO) and American Depositary Shares (ADS) issue is expected to generate around Rs. 20 thousand crores. ICICI BANK said that the approval of shareholders will be obtained by means of a postal ballot.
ICICI Bank has informed the Indian stock exchanges that, the Board of directors of ICICI Bank, at their meeting held today have recommended a dividend of 100%, which works out to Rs.10 per equity share of face value Rs.10 each. The dividend is subject to statutory approval by the shareholders of ICICI Bank at the ensuing AGM. For more information on the ICICI Bank IPO / FPO make sure you read the article on ICICI Bank IPO.
22 Apr 07 Bharat Earth Movers Limited BEML IPO : Follow On Public Offer FPO
Bharat Earth Movers Limited BEML is planning to come out with a follow on public issue FPO in June 2007. The BEML IPO / FPO issue size would be Rs. 440 to 600 crores. Bharat Earth Movers Limited BEML has filed the draft red herring prospectus with SEBI and is waiting for SEBI’s approval for the follow on public issue. The IPO / FPO would be a 100% book built issue. an ISO 9001-2000 certified, Bharat Earth Movers Limited BEML is a IrAAA rated, multi locational and multi product manufacturer of mining and construction equipments, railway and metro products and defence products.
Bharat Earth Movers Limited BEML will offer 49,00,000 Equity Shares of Rs. 10 each for cash at a premium which will be decided through the book building process. The BEML FPO includes a reservation for employees to the tune of 4,90,000 Equity Shares and a Net Issue to the public of 44,10,000 Equity Shares. The Bharat Earth Movers Limited BEML IPO Issue would constitute 11.77% of the fully diluted post issue paid up equity capital of the Company. The Government of India holding is expected to be approximately 54%, after the FPO and hence Bharat Earth Movers Limited BEML will continue to be a Government of India Company.
Bharat Earth Movers Limited BEML is a Mini Ratna Government Company coming under the Ministry of Defence and is ranked as the first among the Fastest Growing Construction Equipment Companies in India as per the NICMAR Survey 2005. The Equity Shares of Bharat Earth Movers Limited BEML are listed on the Bombay Stock Exchange Limited BSE, National Stock Exchange NSE and the Bangalore Stock Exchange. The Book Running Lead Manager for this FPO Issue is ICICI Securities Limited. The Finance Minister had earlier stated that the Cabinet had approved the BEML public issue of 49 lakh shares. The BEML shares closed at 970.10 on the BSE on friday, April 20th.
Bharat Earth Movers’ (BEML) follow on public issue will open for subscription on June 27 2007 and close for subscription on July 03 2007.
Bharat Earth Movers Limited FPO Prospectus
For more information, read the draft red herring prospectus of the Bharat Earth Movers Limited FPO.
