08 Jun 08 Lotus Eye Care IPO subscription opens on 12th
The IPO mania continues next week as Lotus Eye Care IPO joins the list of 4 other IPO’s opening for subscription between Monday and Friday of the coming week starting June 09, 2008. Lotus Eye Care Hospital IPO which has been assigned a CARE IPO grade 3 will open for subscription on Thursday, June 12, 2008 and will close for subscription on June 17, 2008. Lotus Eye Care IPO price band has been fixed at Rs. 38 to Rs. 42 per share of face value Rs. 10 each. Keynote Corporate Services, Canara Bank Merchant Banking and Motilal Oswal are the lead managers to the Lotus Eye Care IPO. Lotus Eye Care Hospital runs a super speciality eye care IPO in Coimbatore and will use the proceeds from the IPO to fund its expansion plans.
08 Jun 08 Virgo Engineers IPO gets CRISIL IPO Grade 4
Virgo Engineers IPO which is likely to open for subscription later this month has received an IPO grade of 4 out of 5 by CRISIL which has undertaken the grading of Virgo Engineers IPO. Virgo Engineers Limited has emerged as one of the leading manufacturers of valves for the energy market. Virgo Engineers IPO price band is yet to be announced. The subscription dates as well as the price band of Virgo IPO will be updated here as soon as the details are available to us.
08 Jun 08 Archidply Industries IPO Subscription Details
Archidply Industries IPO will open for subscription on Wednesday, 11 June, 2008. It seems its gonna rain IPO’s the whole of the oming week beginning June 09, 2008 when 3 IPO’s are hitting the market. Archidply Industries IPO Subscription will close on 17 June, 2008. The price band for the IPO has been fixed at Rs. 70 to 80 per share of face value Rs. 10 each. Archidply Industries being the flagship company of the Archidply group of companies which has more than 3 decades of experience in manufacturing and marketing plywood in India, is likelt to generate decent subscription interest from all calsses of investors. However, investors are advised to wait, watch and analyse the subscription figures and apply on the last day of subscription if the institutional investor category in the Archidply IPO oversubscribes by atleast 5 times.
08 Jun 08 JSW Energy IPO gets CRISIL IPO Grade 4
JSW Energy IPO which is one of the most expected IPO this year has been graded by CRISIL. JSW Energy IPO has received a CRISIL IPO Grade of 4 out of 5 which is very good. A grade of 4 out of 5 indictaes that the fundamentals of JSW Energy are much better than that of most other listed companies in India. After the reliance power IPO, JSW Energy IPO would be next in line in terms of the IPO size. JSW Energy IPO price band and subscription dates have not yet been announced. The same will be updated here as soon as they are announced by the company.
03 Jun 08 Sejal Glass IPO Subscription Details
Sejal Glass IPO Subscription opens on, guess when? yes! Monday, June 09, 2008. Looks like Monday June 09 seems to be some sort of an auspicious day for taking companies public. At a time when IPO’s are hard to come by, suddenly you find that there are three new IPO’s opening for subscription on the same day. Sejal Glass IPO unlike Avon IPO is a book building IPO issue. Sejal Glass IPO price band has been fixed at Rs. 105 to Rs. 115 per share of face value Rs. 10 each. Sejal Glass IPO closes on (no prizes for guessing) Thursday, June 12, 2008. All the three IPO’s will be closely tracked and updated in this blog. SEJAL IPO has been graded by CRISIL and has received a grading of 1 out of 5 which means the fundamentals of Sejal Structural Glass Limited are bad when compared to other listed companies in India. Sejal Structural Glass would use the proceeds from the IPO to open a new plant.
03 Jun 08 First Winner Industries IPO price band fixed
First Winner Industries IPO opens for public subscription on Monday, June 09, 2008. It is a book building IPO issue. First Winner IPO price band has been fixed at Rs. 130 to Rs. 140 per share of face value Rs. 10 each. First Winner Industries Limited is a textile fabric manufacturing company which has started its operations recently. First Winner IPO grade is not yet known and will be updated here as soon as its available. Intime Spectrum is the registrar to the IPO while Almondz Global Securities is the lead manager for the IPO. The funds raised through the IPO will be used by First Winner Industries for setting up of a new apparel manufacturing facility. More details on First Winner IPO will be posted here soon.
03 Jun 08 Avon Weighing Systems IPO Details
Avon Weighing Systems IPO opens for subscription on Monday, June 09, 2008. The IPO is a very small sized fixed price IPO which will raise a little less than 10 crores for the company. The funds raised from the IPO will be used for expansion purposes. Avon Weighing IPO has been graded by CARE, one of the 4 credit rating agencies which have received SEBI approval for IPO Grading. Avon Weighing Systems has managed to get a frade of just 2 out of 5. This means the fundamentals of Avon Weighing Systems Limited are below average when compared with other listed companies in India. Avon IPO closes for subscription on Thursday, 12 June, 2008. Avon Weighing price has been fixed at Rs. 10 per share of face value Rs. 10 each. This means IPO investors in India, after a long time, have once again received an opportunity to invest in the an AT PAR IPO issue.
28 May 08 RITES IPO gets CRISIL IPO Grade 3
RITES IPO has been assigned a CRISIL IPO Grade of 3 out of the maximum 5. CRISIL is one of the four Indian credit rating agencies which has been permitted to grade IPO’s. An IPO grade of 3 means that the fundamentals of RITES Ltd are in line with those of other Indian listed companies across all sectors. The grading however does not have anything to do with the pricing of the IPO which makes IPO grading pretty useless. Wouldn’t it be better to buy shares of a company with average fundamentals at a rock bottom price rather than buy shares of a company with excellent fundamentals at a very expesnive valuation?
28 May 08 20 Microns IPO Details
20 Micron IPO should be out soon. 20 Microns which as the name suggests is in the business of producing micronised minerals which is used in paints. The company got its name since it pioneered the 20 to 2 micron sized micronised mineral production. 20 Microns IPO will raise about 40 crores by diluting close to 50% of the post issue paid up capital of the company. The IPO would be a fixed price IPO. Once teh DRHP is approved by SEBI, the IPO price will be made known to the investors. Since 20 Micron IPO is not a book building issue, the time taken for allotment of shares will be much longer than the time taken for the allotment process to be completed for IPO’s through the book building route.
26 May 08 Niraj Cement IPO Subscription Details
Niraj Cement IPO which opened for subscription today has generated suprisingly good subscription interest from retail investors. The retail investor category of Niraj Cement IPO has seen a 60% subscription, which is a rare sight on the very first day of an IPO opening for subscription. This is because retail investors prefer to wait till the last day to apply in an IPO. Contrastingly, the Institutional Investors category as well as the high networth investors category have not received a single bid. Retail investors looking at applying in the Niraj Cement IPO should probably wait for a couple of days and look at how Institutional Investors are approaching this IPO, before deciding to apply.
25 May 08 Nutek India IPO
Nutek IPO is another IPO which is likely to hit the markets in June 2008. The DRHP filed by the company has received the approval of SEBI, last week. India Infoline and SPA Merchant Bankers, a small Mumbai based Merchant Bank, are the lead managers for the Nutek IPO. Nutek India IPO subscription dates and the price band for the public issue will be announced by the company about a week before the issue opens for public subscription. Nutek India IPO is a small IPO and hence is likely to get oversubscribed quickly. More details about the IPO will be posted here in a few days time.
24 May 08 Godrej Properties IPO
Godrej Properties IPO is likely to open for subscription in June 2008. Ahead of the IPO, the company is in the midst of a heavy brand building exercise. Godrej Properties has signed up as a sponsor for the IPL in order to build its brand ahead of the 600 crore IPO next month. Godrej Properties will use the proceeds from the IPO to fund its expansion plans and is likely to enter the lucrative Chennai, Goa, Kochi and NCR markets. Godrej Properties IPO subscription date and the price band for the IPO will be updated here as soon as the same has been announced by the company.
23 May 08 MCX IPO gets CRISIL IPO Grade 5
MCX IPO which is likely to open in June 2008 has received a CRISIL IPO grade of 5. CRISIL IPO grade 5 is the highest grading an IPO can get from CRISIL, which is one of the 4 credit rating agencies in India permitted to grade IPO’s. MCX IPO is the first commodity exchange to go public and has hence generated lot of public interest in the IPO. MCX is likely to open along with another mega IPO – the reliance infratel IPO. The performance of both these public issues will indicate the future perfomance of primary market in India. If these two IPO’s perform well, many other companies will go ahead with their proposed IPO plans which will then have a cascading effect and help revive the sentiments in the market.
21 May 08 Gokul Refoils IPO Allotment Details
Gokul Refoils IPO which closed for subscription last week witnessed good subscription interest from all classes of investors. Strangely, retail investors seem to be much more bullish as far as IPO’s are concerned when compared to institutional investors. This is evident from the fact that the retail investors category in the Gokul Refoils IPO was oversubscribed by over 5.5 times as opposed to the QIB category which failed to make it past 2.75 times. It looks like even after the shock that reliance power ipo provided, retail investors are still bullish on IPO’s as an alternate investment class.
18 May 08 BAFNA Pharma IPO Subscription Date
Bafna Pharmaceuticals IPO is scheduled to open for subscription on May 27, 2008. It is a fixed price IPO. IPO price has been fixed at Rs. 40 per share of face value Rs. 10 each. The public issue opens for subscription on Tuesday, May 27, 2008 and will close for subscription on May 30, 2008. Since its a fixed price issue, the listing date will be only in the first week of July. Looking at the volatile markets, it seems to be a risk proposition to wait for such a long time before getting an opportunity to exit the position. However at Rs. 40 per share, the valuations look extremely attractive. Investors with an appetite for risk can apply in this IPO for decent gains on listing.
