Zenith Birla Limited listed today on the Indian stock exchanges. On the NSE, Zenith Birla Limited listed at Rs. 37.85. However the shares of Zenith Birla Limited gradually but steadily kept declining and ended the day at Rs. 34.6 down by about 8.6%. Over 77000 shares of Zenith Birla Limited changed hands on the NSE today.
Shoppers Stop has informed the Indian stock exchanges that, the Board of directors of Shoppers Stop, at their meeting held today have recommended a dividend of 15%, which works out to Rs.1.50 per equity share of face value Rs.10 each. The dividend is subject to statutory approval by the shareholders of Shoppers Stop at the ensuing AGM.
State Bank of Mysore has informed the Indian stock exchanges that, the Board of directors of State Bank of Mysore, 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 State Bank of Mysore at the ensuing AGM.
UTI Bank today informed the Indian stock exchanges that it plans to change its name from UTI Bank to Axis Bank. The date on which the name change becomes effective has not yet been announced by UTI Bank. UTI Bank is likely to announce this date in the coming few weeks.
The board of directors of BHEL, at their meeting held today, recommended a bonus issue of shares (also known as stock dividend) in the ratio of 1 : 1 (1 share for every 1 share held), to the existing shareholders of BHEL as appearing in the company’s register of shareholders, on the record date, which will be announced in a few days time. The bonus issue will be made by capitalising the free reserves of BHEL.
The board of directors of Sumeet Industries, at their meeting held today, recommended a bonus issue of shares (also known as stock dividend) in the ratio of 1 : 10 (1 new share for every 10 shares held), to existing shareholders of Sumeet Industries as appearing in the company’s register of shareholders, on the record date, which will be announced in a few days time. The bonus issue will be made by capitalising the free reserves of Sumeet Industries.
The board of directors of Sumeet Industries has also decided to make preferential allotment of shares to relatives and associates of promoters or to strategic investors at a price of Rs. 20 per share.
The board of directors of Nucleus Software, at their meeting held today, recommended a bonus issue of shares (also known as stock dividend) in the ratio of 1 : 1 (1 share for every 1 share held), to existing shareholders of Nucleus Software as appearing in the company’s register of shareholders, on the record date, which will be announced in a few days time. The bonus issue will be made by capitalising the free reserves of Nucleus Software.
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.
Glory Polyfilms Limited IPO : Glory Polyfilms Limited is all set to tap the Indian capital markets with an IPO in May. The Glory Polyfilms Limited IPO is a fixed price IPO. Glory Polyfilms Ltd is one of the leading polyfilms manufacturer in India. Glory Polyfilms Limited IPO opens for subscription on 9th may and closes for subscription on 15th May.
Glory Polyfilms Limited IPO Details
Glory Polyfilms Limited is coming out with a public issue of 82,20,000 equity shares of Rs. 10/- each for cash at a premium of Rs.38/- per equity share aggregating Rs.39.46 Crores. The Glory Polyfilms IPO issue would constitute 47.06% of the fully diluted post issue paid up capital of Glory Polyfilms limited. The face value of equity shares of Glory Polyfilms Ltd is Rs.10 and the issue price is 4.8 times of the face value. Issue Price is Rs. 48 per Equity Share of face value Rs.10 each.
Object of the IPO issue as per the Glory Polyfilms Ltd IPO prospectus
Glory Polyfilms IPO Prospectus
For more information, read the draft red herring prospectus of the Glory Polyfilms IPO.
Listing Date : Glory Polyfilms Limited will list in the stock markets on Monday 18 june 2007. The Glory Polyfilms IPO issue price was Rs. 48. Lets see at what premium Glory Polyfilms lists to its issue price. The IPO refund has already been sent by ECS.
Binani Cement Limited is all set to tap the Indian capital markets, with an IPO in May 2007. The IPO opens on 7th May and closes on 10th May. Binani Cement Ltd has set the price band between Rs. 75 and Rs. 85 for the IPO. The shares of Binani Cement will be listed both on the NSE and the BSE. The lead managers of the Binani Cement Limited IPO are ICICI Securities and JP Morgan. The Binani Cement IPO was put on hold and got delayed because of differences between the lead managers on fixing the price band. It is said that JP morgan wanted a price band around Rs.125 per share which was not acceptable with ICICI Securities. The issue is an offer for sale of shares held by JP Morgan. The JP Morgan arm is offloading over 2 crore shares, or over 10% stake, in Binani Cement Ltd , through the IPO. JP Morgan, through its subsidiary JP Morgan Special Situations (Mauritius), holds a 25% stake in Binani Cement. The registrar for the issue is intime spectrum which some people say is “not in time” when it comes to alloting shares and issuing refunds. But I personally feel that its a much better registrar when compared to Cameo Corporate Services. Cameo really sucks!
Binani Cement IPO Prospectus
For more information, read the draft red herring prospectus of the Binani Cement IPO.