Indian IPO Blog Buzz

Reliance Industries Buyback Offer Details

2012-01-24T00:01:00.000+05:30

Reliance Industries Limited (RIL) announced a share buyback plan on Friday, January 20, 2012. RIL will execute the buyback through purchase of shares from the open market

The upper limit price for the Buyback is Rs.870/- per equity share. What this essentially implies is that RIL will over a period of time, buy its own shares from the market as long as the price is below Rs.870. If the price goes beyond Rs.870/-, then the company would not be entitled to buyback shares above the said price. The upper limit in absolute terms is Rs.10,440 crores.

However, one point that has to be noted amidst all this is that the limits prescribed above are the upper caps and the company may stop the buyback anytime and it is therefore not necessary that entire Rs.10,440 Crores would be spent for buyback or that the company will keep on buying until the price is Rs.870/- per share

Reliance considering Buyback of shares

2012-01-18T22:16:00.001+05:30

Reliance Industries Ltd. led by billionaire Mukesh Ambani, has informed the NSE and the BSE that the company is considering a proposal to buyback equity shares at a board meeting scheduled to be held on January 20, 2012

A notice on the BSE website read: "Reliance Industries Ltd. has informed BSE that a meeting of the Board of Directors of the Company will be held on January 20, 2012, inter alia, to consider and approve a proposal for Buy Back of the Company's equity shares in accordance with all applicable provisions of law"

Although there is no announcement in this regard, the speculation is that the buyback could be around 10-12 per cent of the existing equity of Reliance Industries Limited. RIL is India's largest company and the buyback, if materialized is likely to be the biggest in India's history, according to Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities

The buyback will utilise the large pile of cash and cash equivalents (approximately Rs.70,000 crore) lying on Reliance’s Balance Sheet. Currently, the market capitalisation of Reliance Industries is in excess of Rs.2.5 Lakh Crores

The Buyback Price is speculated to be around Rs.850 to Rs.900 per share, although there is no official communication in this regard. Check back this blog for latest updates on Reliance Industries Ltd. Buyback Offer

Buyback of the shares of Amtek Auto Limited

2012-01-15T23:25:00.000+05:30

Amtek Auto Limited (520077) has announced buyback of its fully paid-up equity shares of face value of Re. 2/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs.200/- (Rupees Two Hundred Only) per equity share payable in cash for an aggregate amount not exceeding Rs.291 crore

The proposed time table for Buyback is as under:
Date of Opening of the Buyback on BOLT: January 16, 2012
Last date for the Buyback: 24th August 2012 (i.e. 12 months from the date of the resolution passed by the Board of Directors of the company at its meeting held on 25th August 2011) or in case maximum offer size has been exhausted, whichever is earlier. However, the Board reserves the right to close the Buy-back offer at an earlier date in the event the company has bought back, by giving an appropriate notice for such earlier date and completing all formalities in this regard as per relevant laws and regulations

More than 20 companies cancel their IPOs

2011-10-03T23:37:00.000+05:30

According to a recent report, at least 22 companies, mainly from real estate and power sector, have called off their initial public offers (IPOs) in this fiscal.

SMC Global Securities stated in a report that even after getting approval from market regulator SEBI, these companies could not open their IPOs within the valid period of one year from the date of approval due to the ongoing turmoil in the capital markets. Sterlite Energy, Jindal Power, Avantha Power, Lodha Developers, Ambiance Real Estate, Kumar Urban Developers, Neptune Developers, BPTP and Raheja Universal are some of the companies in the list

The volatile and highly uncertain market conditions have led many companies to defer their IPOs and many other to look for other alternatives of raising funds

Markets crumbles with biggest fall in two years

2011-09-22T19:21:00.000+05:30

It was a terrible day for the markets today on September 22, 2011. A sharp fall in Rupee, coupled with Fed's gloomy outlook on the US economy triggered the biggest fall in the markets since October 2008. The day opened in the red and thereafter continued to take one blow after the other dwelling into complete bloodshed by the end of the day

BSE SENSEX crashed a staggering 704 points or 4.13% and ended at around Rs.16,361. Jaiprakash Associates, DLF, Sterlite Industries, Reliance Industries, Tata Motors and Bharati Airtel amongst the Index closed the day with deep reds. Educomp Solutions, Lanco Infra, Sterling Intl, Shree Renuka Sugars, HDIL and Godrej Industries were some other names from the 'A' Group in BSE which suffered badly

BHEL to split shares

2011-09-20T18:01:00.000+05:30

Bharat Heavy Electricals Limited has informed BSE that the shareholders of the Company in the 47th Annual General Meeting (AGM) held on September 20, 2011, have passed the resolution for a split of existing Equity Shares of Rs. 10/- each into FIVE Equity Shares of Rs. 2/- each with effect from the Record date to be fixed by the Board

In another announcement to the BSE, the company has informed that the Board, in its meeting held on September 20, 2011, has fixed October 04, 2011 as the Record date for the purpose of Sub-division of existing equity shares of face value of Rs. 10/- each into 5 Equity Shares of Face Value of Rs. 2/- each

Check back Indian IPO Blog Buzz for the latest bonus and split updates!

Prakash Controwell IPO | In-Depth Analysis from Indian IPO Blog Insights

2011-09-19T23:08:00.002+05:30

Prakash Constrowell Limited, a construction company headquartered in Nashik, Maharashtra, has entered the capital markets with an Initial Public Offer (IPO) to raise Rs.60 Crores. The issue would remain open for subscription between September 19, 2011 and September 21, 2011

The 100% Book Building Issue would be in a price band of Rs.130/- to Rs.138/- per equity share for shares having a Face Value of Rs.10/- each. The applications can be made in a bid lot of 50 Equity Shares and in multiples thereof. Intensive Fiscal Services Private Limited, based in Mumbai is the Book Running Lead Manager to the Issue while Bigshare Services Pvt. Ltd. is the Registrar to the issue.

Click here to read analysis on Prakash Controwell IPO from Indian IPO Blog - Insights

List of Stocks in BSE Group A

2011-09-17T21:38:00.001+05:30

Aban Offshore
ABB
ACC
Adani Enter
Adani Power
Aditya Birla Nuvo
Allahabad Bank
Ambuja Cements
Andhra Bank
Apollo Hosp
Apollo Tyres
Areva T&D
Ashok Leyland
Asian Paints
Aurobindo Pharma
Axis Bank
Bajaj Auto
Bajaj Finserv
Bajaj Holdings
Bank of India
BF Utilities
BGR Energy
Bharat Electricals
Bharat Forge
Bharti Airtel
BHEL
Bhushan Steel
Biocon
BOB
Bosch
BPCL
Cadila Health
Cairn India
Canara Bank
Castrol India
Central Bank
Century Textiles
Chambal Fertilizers
Cipla
Coal India
Colgate Palmolive
Container Corporation of India
Core Projects
Coromandel Intl
Corporation Bank
Crompton Greaves
Cummins India
D B REALTY
Dabur India
Dish TV India
Divis Lab
DLF
Dr Reddys Lab
Educomp Sol
Emami
Engineers India
Essar Oil
Exide Inds
Federal Bank
Financial Tech
FORTIS
Havells India
HCL Tech
HDFC
HDFC Bank
HDIL
HEROMOTOCORP
Hindalco Inds
Hindustan Copper
Hindustan Unilever
Hindustan Zinc
HMT
HPCL
ICICI Bank
IDBI Bank
Idea Cellular
IDFC
IFCI
Indiabulls Power
Indiabulls Financial
Indiabulls Real Estate
Indian Bank
Indian Hotels
Indian Oil Corp
Indraprastha Gas
Indusind Bank
Infosys
IOB
IRB Infra
ITC
Jain Irrigation
Jaiprakash Associates
Jet Air India
Jindal Saw
Jindal Steel
JP Infratech
JP Power
JSW Energy
JSW Ispat
JSW Steel
Jubilant Foodworks
Kotak Mah Bank
L&T
Lanco Infra
LIC Housing Fin
Lupin
Mahindra & Mahindra Finance
Mahindra & Mahindra
Manappuram Finance
Mangalore Ref
Marico
Maruti Suzuki
MMTC
MOIL
Motherson Sumi
Mphasis
Mundra Port
National Aluminium
National Fert
Nestle India
Neyveli Lignite
NHPC
NMDC
NTPC
Oberoi Realty
OIL INDIA
ONGC
Opto Circuits
Oracle Fin
Oriental Bank
Pantaloon Retl
Patni Computer
Petronet LNG
Pipavav Shipyard
Piramal Health
PNB
Power Finance
Power Grid Corporation
Rajesh Exports
Ranbaxy Labs
Rashtriya Chem
REC
Reliance Captial
Reliance Communications
Reliance Infra
Reliance Power
Religare Enterprises
Reliance Industries
SAIL
SBI
Sesa Goa
Shipping Corporation of India
Shree Cement
Shree Renuka Sugar
Shriram Transport Finance Co.
Siemens
Sintex Inds
SKS Microfinance
Sterling Intl
Sterlite Inds
Sun Pharma
Sun TV Network
Suzlon Energy
Syndicate Bank
Tata Chemicals
Tata Comm
Tata Motors
Tata Power
Tata Steel
Tata Global Beverages
TCS
Tech Mahindra
Thermax
Titan Inds
Torrent Power
Uco Bank
Ultratech Cement
Union Bank
Unitech
United Breweries
United Phos
United Spirits
Videocon Inds
Vijaya Bank
Voltas
Wipro
Yes Bank
Zee Entertprises

Nitin Fire Protection Industries | Corporate Actions

2011-09-15T22:54:00.004+05:30

Listing Date: 05-06-2007
Face Value: Rs.10/-

Corporate Actions:

Date		Purpose
18-08-2008		Dividend Rs.2.00
10-07-2009		Dividend Rs.3.00
16-09-2010		Dividend Rs.3.50
08-11-2010		Stock Split from Rs. 10/- to Rs. 2/-
06-08-2011		Dividend Rs.1.00
23-09-2011		BONUS 5:2

Nitin Fire Protection - Bonus Issue Summary

2011-09-15T22:26:00.000+05:30

Bonus Ratio: 5:2 (Issue of FIVE Equity Shares for every TWO held)

Record Date: Friday, September 23, 2011

Recent Corporate Actions:

Date	Purpose
23/09/2011	BONUS 5:2
06/08/2011	Dividend 1.00
08/11/2010	Stock Split from Rs. 10/- to Rs. 2/-
16/09/2010	Dividend 3.50
10/07/2009	Dividend 3.00

Nitin Fire Protection Bonus Issue - Record Date announced

2011-09-15T20:13:00.000+05:30

Nitin Fire Protection Industries Ltd. has fixed the Record Date for the purpose of Bonus Issue. The transactions in the equity shares of the Company should be on an ex-bonus basis with effect from Friday, September 23, 2011.

Nitin Fire Protection Industries Ltd. had announced Bonus Issue of 5 (FIVE) fully paid up Bonus Equity Shares of Rs.2/- each for every 2 (TWO) fully paid up equity shares of Rs.2/- each held

Bajaj Hindustan Limited - Rights Issue Record Date

2011-09-15T20:10:00.000+05:30

Bajaj Hindustan Ltd. has fixed the Record Date for the purpose of Rights Issue of Equity Shares. The transactions in the equity shares of the Company should be done on ex-rights basis with effect from September 22, 2011.

Bajaj Hindustan Ltd. was quoted on Rs.51.15 on the BSE as on September 15, 2011. Bajaj Hindustan had earlier announced Rights Issue of 2 (TWO) Equity Shares of Re. 1/- each for cash at premium of Rs.35/- per share on rights basis for every 1 (ONE) equity share of Re. 1/- held. Effectively, the Rights Issue Price of the share would be Rs.45/- per share

Tata Motors shareholders will get discount on Tata Nano

2011-09-14T11:01:00.000+05:30

The shareholders of Tata Motors Limited will now get a discount if they choose to buy the Tata Nano Car. Tata Nano volumes hit a new low in August 2011 as the company's sales to dealers got impacted due to inventory pile up

To boost up sales, the company has offered Rs25,000 discount on top variant to the group employees. This discount has now been extended to Tata Motors shareholders as well. The Company expects to boost up Tata Nano sales through these measures

Religare Finvest NCD closes for subscription

2011-09-13T18:31:00.000+05:30

Religare Finvest NCD has been closed due to heavy rush of investors. The NCD Issue closed on Tuesday, September 13, 2011 which was far ahead of its scheduled deadline of September 26, 2011.

"Religare Finvest has decided to exercise its option to foreclose its secured redeemable non-convertible debentures (NCDs) issue on Tuesday," the company informed the Bombay Stock Exchange

Religare Finvest is a fully-owned subsidiary of Religare Enterprises and it offers loans to SMEs, retail and other customers. The net proceeds of the public issue will be used for various financing activities, including lending and investments, and business operations, including capital expenditure and working capital requirements.

Religare Finvest NCD | Interest Rates

2011-09-12T23:37:00.000+05:30

Interest Rates (Coupon Rates)
Tenure	36 months	60 months
For NCD Holders in Category I	12.00%	12.10% p.a.
For NCD Holders in Category II	12.15%	12.25%
For NCD Holders in Category III	12.25%	12.50%
Put and Call Option	Nil	Nil
Redemption Date	36 months from the Deemed date of allotment	60 months from the Deemed date of allotment
Nature of Indebtedness	Pari Passu with other secured creditors and priority over unsecured creditors	Pari Passu with other secured creditors and priority over unsecured creditors

Religare Finvest NCD - Eligibility to Apply

2011-09-12T23:32:00.001+05:30

The following lists down the categories under which applications can be made in the Religare Finvest NCD:

Category I

Public Financial Institutions, Statutory Corporations, Commercial Banks,Co-operative Banks and Regional Rural Banks, which are authorized to invest in the NCDs;
Provident Funds, Pension Funds, Superannuation Funds and Gratuity Fund, which are authorized to invest in the NCDs;
Venture Capital funds registered with SEBI;
Insurance Companies registered with the IRDA;
National Investment Fund;

Mutual Funds;

Category II

Companies; bodies corporate and societies registered under the applicable laws in India and authorized to invest in the NCDs;
Public/private charitable/religious trusts which are authorized to invest in the NCDs;
Scientific and/or industrial research organizations, which are authorized to invest in the NCDs;
Partnership firms in the name of the partners; and Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009)
Resident Indian Individuals and Hindu Undivided Families through the Karta applying for NCDs aggregating to a value exceeding Rs. 500,000, across all series of NCDs (Option I, and/or Option II and/or Option III)

Category III

Resident Indian Individuals
Hindu Undivided Families through the Karta
Non Resident Indian (only on Non – Repatriation basis)

Religare Finvest NCD opens from September 9, 2011

2011-09-12T23:26:00.000+05:30

Religare Finvest Limited has launched its Non-Convertible Debenture (NCD) Issue which would be open for subscription between September 9, 2011 and September 26, 2011

Religare Finvest Ltd. is a NBFC, focusing on small and medium enterprises, financing and retail capital market financing. They are a wholly owned subsidiary of Religare Enterprises Limited and a diversified financial services company. Religare Finvest offers a diversified and broad suite of lending products to our SME, retail and other customers. Through their reach and focus on the SME segment and broad product offering, Religare Finvest provides the debt capital to power the growth of the small and medium enterprises

Click here for Religare Finvest NCD Details

Religare Finvest NCD Details

2011-09-12T23:22:00.000+05:30

Issue Opens On	September 9, 2011
Issue Closes On	September 26, 2011
Listing on	BSE
Trading Lot	1 (one) NCD
Depositories	NSDL and CDSL
Rating	CRISIL: AA- / Stable ICRA: AA- / Stable
Lead Managers	A.K.Capital Services Ltd, Axis Bank Ltd, Yes Bank Ltd, Religare Capital Markets Ltd.
Registrar	Link Intime India Pvt. Ltd.

Upcoming IPO and FPO List

2011-08-30T22:43:00.000+05:30

J.B. Chemicals declares handsome special dividend

2011-08-21T11:36:00.001+05:30

JB Chemicals & Pharmaceuticals Limited, in an extraordinary move, has declared Special Interim Dividend of Rs.40 per equity share of Face Value of Rs.2 on Friday, August 19, 2011 to reward the shareholders consequent to sale of the Russia-CIS OTC business. This payment together with tax will absorb Rs.393.78 crores

Consequent to the dividend declaration announcement, JB Chemicals and Pharmaceuticals touched an Intraday High of Rs.152 on Friday, August 19, 2011. JB Chemicals had earlier agreed to sell its over-the-counter business in Russia to Johnson & Johnson's for about $260 million and its prescription business in Russia to Dr.Reddy's Labs for $34.9 million.

JB Chemicals & Pharmaceuticals Ltd. has informed BSE that August 31, 2011 has been fixed as the Record Date for the purpose of Special Interim Dividend

State Bank of India evaluating options for raising capital

2011-08-17T23:11:00.000+05:30

The State Bank of India expects to raise funds up to Rs.23,000 Crores for which it is currently exploring options available. The largest bank of the nation plans to come up with a rights issue although there is also a possibility of raising funds through an FPO or QIB placements. SBI needs to raise capital to fund its business growth

State Bank of India (SBI)is the country's largest bank whose origin dates back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta

Gold glittering more than ever, crosses record high

2011-08-09T13:37:00.000+05:30

As the world is in a state of panic and fear following the US credit rating downgrade by Standard & Poor, there is one investment of Gold that is certainly glitterring more than ever - literally! Gold for the first time ever, rose to a record high of Rs.26,000 per 10 gm on Tuesday, August 9, 2011.

Gold purchases leaped to more than 18 million ounces over the past month -- from 8.4 million for the entire year up to July, according to data from the Commodity Futures Trading Commission. Gold is seeing increasingly heavy buying due to the uncertainties following the downgrade. Even after the 2008 crisis, Gold had emerged as one of the best performers among all assets classes

While the worry around the downgrade deepens, despite hitting a record high, experts reckon that Gold will touch new horizons as investors look for a safe haven for their savings

Discount to Retail Investors on application itself, not on allotment

2011-05-19T00:46:00.001+05:30

Retail Investors planning to invest in IPOs have a bit of good news coming their way with the market regulator Securities and Exchange Board of India (SEBI) announcing vide a circular that discounts being offered to retail investors in a public issue should be adjusted for at the time of filing the application itself

Many companies raising capital in the market, particularly Government-owned companies and PSUs, offer a discount to Retail Investors and Eligible Employees. However, it is to be noted that the discount is offered on the final issue price of the IPO or the FPO, which is generally fixed after the issue closes for subscription. Consequently, what happens is that although there is a discount declared for the Retail Investors, they still have to pay in or block the entire amount at the time of applying for the IPO or FPO. The discount is given at the time of allotting the shares and consequently, the extra amount is refunded (or released in case of ASBA). This, however, will not be the same with the aforesaid circular coming into picture. Retail Investors will now be able to avail this discount at the time of making the payment itself while applying in any IPO or FPO

This rule would be applicable on public offer documents filed on or after June 15, 2011. What the move would also mean for the Retail Investors is that now for the same amount of money, the Retail Investors would be able to buy slightly higher number of shares in an IPO or FPO

Budget 2011 Highlights: Indirect Taxation

2011-02-28T14:23:00.000+05:30

Service tax widened to cover hotel accommodation above Rs.1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests
Service tax on air travel increased by Rs.50 for domestic travel and Rs.250 for international travel in economy class. On other higher classes, Service tax to be at 10%
Standard rate of excise duty held at 10 percent;
No change in CENVAT rates
Service tax rate unchanged at 10%
Iron ore export duty raised to 20 percent
Nominal 1% Central Excise Duty on 130 items entering the tax net
Basic food and fuel and precious stones, gold and silver jewellery to be exempted
Peak rate of customs duty maintained at 10%
Basic customs duty on agricultural machinery reduced to 4.5% from 5%

Budget 2011 Highlights: Direct Taxation

2011-02-28T14:21:00.002+05:30

A new revised income tax return form 'Sugam' to be introduced for small tax-papers
Exemption Limit for Individuals raised from Rs.160,000 to Rs.180,000 for individual tax payers
For senior citizens, the qualifying age reduced from earlier 65 years to 60 years
For senior citizens, the Basic Exemption Limit raised to Rs.250,000
New Category of tax-payers “Very Senior Citizens” created consisting of Citizens having age of 80 years and above
Basic Exemption Limit for Very Senior Citizens at Rs.500,000
Surcharge on Domestic Companies reduced to 5% from 7.5%
Minimum Alternate Tax raised to 18.5% from 18%