29 Aug 07 Power Grid Corporation IPO : Power Grid IPO opens on 10th

Power Grid Corporation, a PSU power distribution company, is coming out with an IPO through the Book Building process. The Power Grid Corporation IPO will open for subscription on Monday, September 10th 2007 and will close for subscription on Thursday, September 13th 2007. The price band for the Power Grid Corporation IPO is between Rs. 44 to Rs. 52 per share. The funds raised from the Power Grid Corp IPO will go to the National Investment Fund (NIF). The lead managers for the Power Grid Corporation IPO are Citigroup, Kotak and Enam. The registrar for the Power Grid Corporation IPO is Karvy Computershare private limited. For updates on the subscription / oversubscription ratio of Power Grid Corporation IPO and to know the IPO allotment status, refund details and listing date of Power Grid Corporation IPO, do check this blog regularly.

Power Grid Corporation IPO Prospectus
For more information, read the Draft Red Herring Prospectus of the Power Grid Corporation IPO Issue.

23 Aug 07 Motilal Oswal IPO Subscription Details : Heavy Allotment, High Listing Gains

The Motilal Oswal IPO closed for subscription today. The Motilal Oswal IPO performed pretty well considering the fact that both the primary market (IPO market) and the secondary market are not doing well. This again validates the hypotheses that, if an IPO is priced reasonably and if the fundamentals of the company going public is good, then investors will see value and will definitely lap up the shares offered in an IPO. Overall, the Motilal Oswal IPO was subscribed by 27.40 times (oversubscribed 26.40 times). The retail investor category in the Motilal Oswal IPO got subscribed by less than 4.5 times (oversubscribed by 3.5 times). Institutional investor category in the Motilal Oswal IPO has been subscribed by about 44 times (oversubscribed around 43 times) and the High Networth Individual category has been subscribed by over 10.25 times (oversubscription ratio : 9.26 times). Allotment will be high for retail investors since the retail investor category in the Motilal Oswal IPO has not been heavily oversubscribed. Retail investors are likely to make high returns in the Motilal Oswal IPO since allotment will be heavy and the IPO is likely to list at a decent premium because of heavy institutional oversubscription. Because of heavy allotment, net returns will be boosted. Good luck to all investors who apllied in the Motilal Oswal IPO. For updates on the IPO allotment status, refund details and listing date of Motilal Oswal IPO, do check this blog regularly.

22 Aug 07 IT People (India) Limited IPO : IT People IPO opens on 27th

IT People (India) Limited, an eRecruitment & Consulting company, targetting the global IT and ITES industry is coming out with an IPO through the book building process. IT People IPO will open for subscription on Monday, 27 August 2007 and will close for subscription on Friday, 31 August 2007. IT People (India) Limited will fix the price band for the IPO atleast 1 day prior to the IPO opening for subscription. As per the Draft Prospectus, IT People (India) Limited will use the proceeds of the IPO for investing in improving technology and for marketing and business expansion. Post IPO, the shares of IT People (India) Ltd will be listed only on the Bombay Stock Exchange (BSE). The lead manager for the IT People (India) Limited IPO is Khandwala Securities ltd. and Religare Securities Limited. The registrar for the IT People (India) Limited IPO is TSR Darashaw. For updates on the subscription / oversubscription ratio of IT People (India) Ltd IPO and to know the IPO allotment status, refund details and listing date of IT People (India) Ltd. IPO, do check this blog regularly.

IT People (India) Limited IPO Prospectus
For more information, read the Draft Red Herring Prospectus of the IT People (India) Limited IPO Issue.

14 Aug 07 Magnum Ventures Limited IPO : Magnum Ventures IPO opens on 27th

Magnum Ventures Limited, a UP based paper trading and manufacturing company, is coming out with an IPO through the book building process. Magnum Ventures Limited IPO will open for subscription on Monday, 27 August 2007 and will close for subscription on Thursday, 30 August 2007. Magnum Ventures Limited was earlier known as Magnum Papers Limited. Magnum Ventures Limited has fixed the price band for the IPO between Rs. 27 and Rs. 30 per share. As per the Draft Prospectus, Magnum Ventures Limited will use the proceeds of the IPO to set up a 4 Star Business Hotel and to modernize their manufacturing plants. Post IPO, the shares of Magnum Ventures Limited will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The issue size of Magnum Ventures Limited IPO is about Rs. 60 crores. The lead manager for Magnum Ventures Limited IPO is SREI Capital Markets Limited. The registrar for the Magnum Ventures Limited IPO is Bigshare Services. For updates on the subscription / oversubscription ratio of Magnum Ventures Ltd IPO and to know the IPO allotment status, refund details and listing date of Magnum Ventures Ltd. IPO, do check this blog regularly.

Magnum Ventures Limited IPO Prospectus
For more information, read the Draft Red Herring Prospectus of the Magnum Ventures Limited IPO Issue.

13 Aug 07 Indowind Energy Limited IPO

Indowind Energy Limited IPO, a Chennai based Wind Energy / Wind Farming company is coming out with an IPO through the book building process. Indowind Energy Limited IPO will open for subscription on Tuesday, 21 August 2007 and will close for subscription on Friday, 24 August 2007. Indowind Energy Limited has fixed the price band for the IPO between Rs. 55 and Rs. 65 per share. As per the Draft Prospectus, Indowind Energy Limited will use the proceeds of the IPO for expansion purposes. Indowind Energy Limited was one of the first companies to get carbon credits and the company is now making huge money by selling carbon credits. Post IPO, the shares of Indowind Energy Limited will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The issue size of Indowind Energy IPO is about Rs. 100 crores. The lead managers for Indowind Energy Limited  IPO are UTI Securities, Canara Bank and Keynote Corporate Services. The registrar for the Indowind Energy Limited  IPO is Bigshare Services. For updates on the subscription / oversubscription ratio of Indowind Energy Ltd IPO and to know the IPO allotment status, refund details and listing date of Indowind Energy Ltd. IPO, do check this blog regularly.

Indowind Energy Limited IPO Prospectus
For more information, read the Draft Red Herring Prospectus of the Indowind Energy Limited IPO Issue.

11 Aug 07 IPO Refund Complaints

Since I get lots of queries regarding non receipt of IPO refunds from investors investing in IPO’s, I thought it would be a better idea to write a separate article on this, instead of replying to individual emails/comments. Two of the most common causes of non receipt of IPO refunds are given below.

1) Postal Delay / Loss in transit
2) Incorrect residential address mentioned in the Demat account records with the DP

If there is a postal delay or if the cheque has been lost, damaged or destroyed in transit, investors will have to meet the postmaster and get a non traceable certificate. This process takes about 20-30 days. Once you get the non traceable certificate from your local postoffice, investors will have to fax this along with their IPO application details, IPO acknowledgement and client master form (which is available in the welcome kit when you open a demat account) to the registrar of the IPO along with a letter requesting them to send a new cheque. The entire process takes about 2-3 months.

If there is a delay because of incorrect residential address mentioned in the demat account, then investors need to meet their depository participant, give them proof of address and ask them to update the same in their demat account. After this investors need to get an updated client master form with the updated address and send this to the registrar of the IPO (through fax or courier) along with the IPO application details, IPO acknowledgement and a letter requesting the registrar to send the cheque to the updated residential address. The entire process takes less than 1 month.

The contact details of the 3 leading IPO registrar’s in India are given below.
Intime Spectrum
Tel.:022-25960320
Fax:022-25960329
Email: ipo.helpdesk@intimespectrum.com

Karvy
Tel No:(+91-40) 23312454, 23320751
Fax No:(+91-40) 23311968
E-mail: mailmanager@karvy.com

Cameo
Tel : 91-44-28460390 (5 Lines)
Fax : 91-44-28460129
E-mail : cameo@cameoindia.com

Usually the registrar’s act swiftly on complaints received from investors since SEBI can penalise the registrar’s heavily if they don’t protect investors interests. Also the reputation of the registrar is at stake. However, if you feel that the registrar is not responding to your complaints properly, you can lodge an official complain with SEBI. Investors need to take a printout of this form and mail it to SEBI at the following address

SEBI (Investor Assistance and Education office),
Post Box No. 19972, Nariman Point
Mumbai – 400021
Maharasthra

Most importantly ensure that your DP records have your 9 digit MICR code. This will enable investors to receive IPO refunds directly in their bank accounts. This way lot of time and effort can be saved. ECS is fast, safe, secure and above all free of cost. So make use of the ECS facility.

09 Aug 07 Purvankara IPO Subscription Details : Full Allotment for Retail and HNI

The Purvankara IPO closed for subscription today. Even though the IPO price band was significantly reduced from the price band initially fixed, the Purvankara IPO failed to generate significant investor interest. Overall, the Purvankara IPO just managed a subscription of 1.91 times, (oversubscribed 0.91 times). The retail investor category in the Purvankara IPO got subscribed by only 0.64 times (undersubscribed by .36 times). Institutional investor category in the Purvankara IPO has been subscribed only by 2.69 times (oversubscribed 1.69 times) and the High Networth Individual category has been subscribed by over 0.99 times (undersubscribed by .01 times). Since the retail investor category and HNI category remained undersubscribed all investors who applied under the retail investor and HNI category will get full subscription. Purvankara IPO is likely to have a bad listing and is unlikely to provide listing gains. However, over the long term Purvankara is likely to generate decent returns to investors. Purvankara is a fundamentally strong company having a decent track record and financials to back it up. It has significant presence in tier 1 cities where the real estate sector is in the midst of a very strong boom. The listing date of Purvankara is likely to be somewhere in the fourth week of August. Purvankara will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the Purvankara IPO can expect to receive the IPO refund in the fourth week of August through ECS (in cities in which refund through ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of Purvankara IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the Purvankara IPO.

08 Aug 07 KPR Mill IPO Subscription Details : IPO Oversubscribed

The KPR Mill IPO closed for subscription yesterday. The KPR Mill IPO was completely overshadowed by the Take Solutions IPO which closed on the same day and got heavily oversubscribed. KPR Mill IPO however managed to get fully subscribed in the last few hours of the closing day of subscription. However the retail investor category remained undersubscribed. The retail investor category in the KPR Mill IPO got subscribed by only about 0.40 times (undersubscribed by 0.60 times). Institutional investor category in the KPR Mill IPO has been subscribed by 1.44 times (oversubscribed 0.44 times) and the High Networth Individual category has been subscribed by 2.07 times (oversubscription ratio : 1.07 times). Overall, the KPR Mill IPO has been subscribed by 1.19 times (oversubscribed 0.19 times). The issue price of KPR Mill IPO will be fixed at the lower end of the price band at Rs. 225

Retail investors who applied in the KPR Mill IPO will get full allotment and hence depending on the listing price of KPR Mill, profits / losses will both be high. KPR Mill IPO is likely to have a pretty poor listing and may provide listing losses to investors, unless the secondary market at the time of listing of KPR mills performs very well. The listing date of KPR Mill Limited is likely to be somewhere in the final week of August. KPR Mill Limited will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the KPR Mill IPO can expect to receive the IPO refund in the third week of August through ECS (in cities where the ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of KPR Mill IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the KPR Mill IPO.

07 Aug 07 TAKE Solutions IPO Subscription Details : Low Allotment, High Listing Gains

The TAKE Solutions IPO closed for subscription today. The TAKE Solutions IPO performed very well even though both the primary market and the secondary market are not doing well. This shows that, if an IPO is priced reasonably and if the fundamentals of the company are good, then investors will see value and will definitely lap up the shares offered in an IPO. Overall, the TAKE Solutions IPO has been subscribed by 59.50 times (oversubscribed 49.50 times). The retail investor category in the TAKE Solutions IPO got subscribed by about 23.39 times (oversubscribed by 22.39 times). Institutional investor category in the TAKE Solutions IPO has been subscribed by 75.62 times (oversubscribed 74.62 times) and the High Networth Individual category has been subscribed by over 100 times (oversubscription ratio : 99.1 times). Allotment will be very low since the TAKE Solutions IPO has been heavily oversubscribed. All investors who applied in the TAKE Solutions IPO will get allotment only through the lottery system. No firm allotment will be made and hence one has to be very lucky to get allotment in the TAKE Solutions IPO

TAKE Solutions Limited is likely to have an excellent listing and is sure to provide excellent listing gains to investors lucky enough to get allotment. The listing date of TAKE Solutions Limited is likely to be somewhere in the final week of August. TAKE Solutions Limited will list both on the NSE and the BSE. Investors who have invested in the TAKE Solutions limited IPO can expect to receive the IPO refund in the third week of August through ECS (in cities where the ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of TAKE Solutions IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the TAKE Solutions IPO.

01 Aug 07 SEL Manufacturing IPO Subscription Details

The SEL Manufacturing IPO closed for subscription on 31st. SEL Manufacturing IPO got oversubscribed in the final few hours, on the last day of subscription. Overall, the SEL Manufacturing IPO has been subscribed by 3.62 times (oversubscribed 2.62 times). The retail investor category in the SEL Manufacturing IPO got subscribed by 3.55 times (oversubscribed by 2.55 times). Institutional investor category in the SEL Manufacturing IPO has been subscribed only by 4.09 times (oversubscribed 3.09 times) and the High Networth Individual category has been subscribed by over 3.12 times (oversubscription ratio : 2.12 times). Those who applied for 4 lots (300 shares) or more, will get a firm allotment. For all others who applied in the SEL Manufacturing IPO, allotment will be made through the lottery system. SEL Manufacturing Company Limited is likely to have a decent listing and is likely to provide listing gains unless markets continue to slide downwards. The listing date of SEL Manufacturing Company Limited is likely to be somewhere in the fourth week of August. SEL Manufacturing Company Limited will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the SEL Manufacturing Company Limited IPO can expect to receive the IPO refund in the third week of August through ECS (in cities in which refund through ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of SEL Manufacturing Company Limited IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the SEL Manufacturing IPO.

28 Jul 07 TAKE Solutions Limited IPO : TAKE Solutions IPO opens on 1st

TAKE Solutions Limited, a life sciences and supply chain management solutions company, is coming out with an IPO through the book building process. TAKE Solutions IPO will open for subscription on 01 August 2007 and will close for subscription on 07 August 2007. TAKE Solutions Limited has fixed the price band for the IPO between Rs. 675 and Rs. 730 per share. As per the Draft Prospectus, TAKE Solutions Limited will use the proceeds of the IPO for repayment of loans, product development and to build a war chest for mergers and aquisitions. TAKE Solutions Limited recently acquired two US based companies (ie.) OnSphere Corporation and Applied Clinical Intelligence, LLC (ACI) for a cash consideration of $ 2.75 million and $ 2.4 million respectively. Post IPO, the shares of TAKE Solutions Limited will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). TAKE Solutions Limited had recently made a pre IPO placement of 900,000 equity shares to Galleon International Master Fund SPC Limited and Passport India Investments (Mauritius) Ltd. The issue size of TAKE Solutions IPO is about Rs. 150 crores. The lead manager for the TAKE Solutions IPO is Edelweiss Capital Limited. The registrar for the TAKE Solutions IPO is Intime Spectrum Registry Limited. For updates on the subscription / oversubscription ratio of TAKE Solutions Ltd IPO and to know the IPO allotment status, refund details and listing date of TAKE Solutions Ltd. IPO, do check this blog regularly.

TAKE Solutions Limited IPO Prospectus
For more information, read the Draft red herring prospectus of the TAKE Solutions Limited IPO Issue.

27 Jul 07 Central Bank of India IPO : Central Bank IPO Oversubscribed Heavily

The Central Bank IPO closed for subscription today. The Central Bank of India IPO performed extremely well and it got heavily oversubscribed across all categories. Overall, the Central Bank of India IPO has been subscribed by 62 times (oversubscribed 61 times). The retail investor category in the Central Bank IPO got subscribed by 16.2 times (oversubscribed by 15.2 times). Institutional investor category in the Central Bank IPO has been subscribed by a whooping 89.11 times (oversubscribed 88.11 times) and the High Networth Individual category has been subscribed by over 69.5 times (oversubscription ratio : 68.58 times). Those who applied for 16 lots (960 shares), under the retail investor category will get a firm allotment. For all others who applied in the Central Bank of India IPO, allotment will be made through the lottery system. Central Bank of India is likely to have a good listing and hence is likely to provide excellent listing gains. The listing date of Central Bank of India is likely to be somewhere in the third week of August. Central Bank of India will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the Central Bank IPO can expect to receive the IPO refund in the third week of August through ECS (in cities where refund through ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of Central Bank IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the Central Bank of India IPO.

27 Jul 07 IVR Prime IPO Subscription Details : IPO Oversubscribed

The IVR Prime IPO closed for subscription on thursday. The IVR Prime IPO performed pretty decently considering the fact that the issue size was big and the issue was overpriced. IVR Prime IPO generated good subscription interest from institutional investors. However retail investor category received subdued subscription interest. The retail investor category in the IVR Prime IPO got subscribed by just over 1.5 times (oversubscribed by about 0.5 times). Institutional investor category in the IVR Prime IPO has been subscribed by 8.6 times (oversubscribed 7.6 times) and the High Networth Individual category has been subscribed by over 1.85 times (oversubscription ratio : 0.85 times). Overall, the IVR Prime IPO has been subscribed by 5.75 times (oversubscribed 4.75 times).

Retail investors are likely to get close to full allotment (taking into account cheque bounces, stop payments, inaccurate data entered in the forms and the unsubscribed portion of employee category which will be added back to the retail investor category). The listing price of IVR Prime Urban Developers Limited depends on the market conditions at the time of listing. Right now all realty stocks have been hit badly and the realty index was down by over 5% today. Those who applied in the IVR Prime IPO can only hope that the market recovers by the time IVR Prime lists on the stock exchanges. Since the allotment is likley to be close to full, both Listing gains as well as Listing losses (whatever the case may be) will be huge. The listing date of IVR Prime Urban Developers Limited is likely to be somewhere in the third week of August. IVR Prime Urban Developers Limited will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the IVR Prime IPO can expect to receive the IPO refund in the third week of August through ECS (in cities in which refund through ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of IVR Prime IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the IVR Prime IPO.

26 Jul 07 Omnitech InfoSolutions IPO Subscription Details : Huge Listing Gains likely

The Omnitech InfoSolutions IPO closed for subscription on 25th. The Omnitech IPO has performed very well and it has attracted large bids from all classes of investors. The retail investor category in the Omnitech InfoSolutions IPO got subscribed by a little less than 51 times (oversubscribed by about 50 times). Institutional investor category in the Omnitech InfoSolutions IPO has done very well and has been subscribed by a whooping 61.75 times (oversubscribed 60.75 times) and the High Networth Individual category has been subscribed by over 108.66 times (oversubscription ratio : 107.66 times). Overall, the Omnitech InfoSolutions IPO has been subscribed by 61.84 times (oversubscribed 60.84 times).

Omnitech InfoSolutions IPO is likely to provide excellent listing gains to investors who are lucky enough to get allotment and decide to sell their holdings on the Listing Date as soon as Omnitech InfoSolutions lists on the stock exchanges. Retail investors will find it very tough to get allotment in the Omnitech InfoSolutions. One should consider himself very lucky if he manages to get allotment in the Omnitech InfoSolutions IPO. The listing date of Omnitech InfoSolutions Limited is likely to be somewhere in the third week of August. Omnitech InfoSolutions Limited will list both on the National stock exchange and the Bombay Stock Exchange. Investors who have invested in the Omnitech InfoSolutions IPO can expect to receive the IPO refund in the third week of August through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Omnitech IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the Omnitech InfoSolutions IPO.

19 Jul 07 Alpa Laboratories IPO Subscription Details : Bad Listing Likely

The Alpa Laboratories IPO closed for subscription on 17th. The Alpa Laboratories IPO failed to fare well even at a time when there is a huge hype surrounding IPO’s. Overall, the Alpa Laboratories IPO has been subscribed by 1.11 times (oversubscribed 0.11 times). The retail investor category in the Alpa Labs IPO got subscribed by about 2.14 times (oversubscribed by 1.14 times). Institutional investor category in the Alpa Labs IPO has fared very badly and has been subscribed only by 0.18 times (under-subscribed 0.82 times) and the High Networth Individual category has been subscribed close to 2 times (oversubscription ratio : 1 time). Allotment will be high and hence overall profits or losses made will be high.

Alpa Laboratories Limited is likely to have a poor listing and might provide listing losses. The listing date of Alpa Laboratories Limited is likely to be somewhere in the second week of August. Alpa Laboratories Limited will list both on the NSE and the BSE. Investors who have invested in the Alpa Laboratories limited IPO can expect to receive the IPO refund in the first week of August through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Alpa Laboratories IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the Alpa Labs IPO.