Investor Souk: Our Research for your USE

2016-09-18T00:45:00.003+05:30

ICICI Prudential Life Insurance Company Limited
*All investors shall mandatorily use only Application Supported by Blocked Amount (ASBA) facility for making payments
Symbol	ICICIPRULI
Issue Period	19-Sep-2016 to 21-Sep-2016
Post issue Modification Period	22-09-2016 (between 10.00 a.m. to 1.00 p.m. only)
Issue Size	Public offer of upto 181,341,058 Equity Shares (Including Anchor portion of 48,962,085 Equity Shares)
Issue Type	100% Book Building
Price Range	Rs 300 to Rs 334
Face Value	Rs 10
Tick Size	Rs 1
Market Lot	44 Equity Shares and in multiples thereof
Minimum Order Quantity	44 Equity Shares
Maximum Bid Quantity	132,378,972 Equity Shares
Maximum Subscription Amount for Retail Investor	Rs. 2,00,000
IPO Market Timings	10.00 a.m. to 5.00 p.m.
Global Coordinators and Book Running Lead Managers	DSP Merrill Lynch Limited and ICICI Securities Limited
Book Running Lead Managers	CLSA India Private Limited, Deutsche Equities India Private Limited, Edelweiss Financial Services Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Holdings Limited, JM Financial Institutional Securities Limited, SBI Capital Markets Limited and UBS Securities India Private Limited
Syndicate Member	Edelweiss Securities Limited, India Infoline Limited, JM Financial Services Limited and SBICAP Securities Limited
Categories	FI, IC, MF, FII, OTH, CO, IND, NOH and SHA
Name of the Registrar	Karvy Computershare Private Limited
Address of the Registrar	Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500 032
Contact person name number and Email id	M. Murali Krishna, +91 040 6716 2222; icicprulife.ipo@karvy.com
e-form link	e-Forms
Branches of Self Certified Syndicate Banks (SCSBs) where syndicate / sub syndicate member to submit ASBA form	Click Here
Ratios / Basis of Issue Price	Click Here
Red Herring Prospectus	Click Here
Bidding Centers	Click Here
Sample Application Forms	Click Here
Anchor Allocation Report	Click Here

National Pension System (NPS)

2016-08-16T23:39:00.005+05:30

National Pension System (NPS) [yes it is system and not scheme] is a defined contribution based Pension Scheme launched by Government of India with the following objectives:

To provide post retirement income
Reasonable market based returns over long run

The product is regulated by Pension Fund Regulatory and Development Authority (PFRDA)

Tax Benefits

Where contribution is by Employer

Opportunity to get up to 10% of basic as tax-free salary u/s 80 CCD (2) without any upper cap in terms of absolute value
This benefit is over and above the limit of 80 CCE and 80 CCD (1B)

Contribution by Employee - 1

Upto Rs 50,000 deductible under seciotn 80 CCD(1B)
This benefit is over and above the limit of 80 CCE

Contribution by Employee - 2

Eligible for 10% of Basic Salary under section 80 CCD(1A) within Rs 150,000 limit under section 80 CCE.

Indian Income Tax - Rebate on Savings Bank Interest

2016-08-15T14:38:00.003+05:30

Are you aware that you can get deduction for the savings bank interest earned. Section - 80TTA of Income-tax Act, 1961-2014 deal with Deduction in respect of interest on deposits in savings account. You need to include this in Schedule VI A under 80TTA. Currently savings bank interest till Rs 10000 is deducted from your earnings.

BTW you have to include entire savings bank interest earned during the year in Schedule OS as interest income.

Advanced Enzyme Technologies Ltd IPO

2016-07-21T01:16:00.002+05:30

Advanced Enzyme Technologies Ltd
Period	20-Jul to 22-Jul 2008
Size (Equity Shares)
Type	100% Book Built Issue (Initial Public Offer IPO) and Offer for sale
Face Value	Rs. 10-
Price Range	Rs. 880 - Rs. 896 Per Equity Share
Market Lot	16 shares
Max shares Retails investor can apply at cut off	208
Registrar	Link Intime India Private Ltd
Registrar's email	aetl.ipo@linkintime.co.in
Lead Manager	Axis Capital Limited and ICICI Securities Limited
Listing	BSE, NSE
Grading
About the company
Incorporated in 1989, Advanced Enzyme Technologies Ltd is an India based company engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products. Information in this paragraph is copied from chittorgarh.com. Company produces over 400 proprietary products developed from 60 enzymes. Advanced Enzyme operate in two primary business verticals namely Healthcare & Nutrition (human and animal) and Bio-Processing (food and non-food). Company has 13 patents registered in its name and applications for registration of 4 patents are pending. Advanced Enzyme is among top 15 companies in enzyme sales in the world and 2nd largest in India. Company has over 20 years of fermentation experience in the production of enzymes. Company offer these products to its more than 700 global customers across 50 countries around the world. Content in this paragraph is copied from chittorgarh.com. Advanced Enzyme's R&D team consists of over 55 scientists, microbiologists, engineers, food technologists and biotechnologists. Company have four R&D facilities, of which two are located at Thane, and one each at Sinnar and Chino, California. Competitive strengths of the company: 1. Integrated Company with presence across the Enzyme Value Chain 2. Strong R&D, enzyme development and manufacturing capabilities 3. Specialized Business Model with high entry barriers 4. Diversified Product Portfolio and Wide Customer Base, served by a Strong Sales, Marketing and Distribution network 5. Experienced Promoters and Strong Management Team 6. Financial stability and stable cash flows1993 Business: Telecom infrastructure service provider, offering Infrastructure rollout solutions for both mobile and fixed telecommunication networks. Undertake turnkey projects, provide management expertise to their clients for infrastructure creation and installation for telecom sites which includes Passive Infrastructure like Towers, Telecom Shelters, Backup Power - DG sets and Battery Banks, Electrical Infrastructure and Earthing Stations etc. and active infrastructure like Base Transceiver Station (BTS), microwave, optic fibre, Base Station Controller (BSC), Mobile Switching Centres (MSC), IN (Intelligent networks), VAS (Value added services) equipments, transmission equipment such as STM's and Microwaves to the most advanced World Interoperability for Microwave Access (WIMAX) equipment and future ready 3G Nodes. Company also provide technical support services in the High End Telecom segments such as Radio Frequency and Transmission Planning, Network Tuning & Optimization and Quality of Service (QoS) to their clients. Client: Telecommunication Equipment Manufacturers, Telecom operators, Third party infrastructure leasing companies in installing and maintaining Telecom Network Equipment & Infrastructure. Nokia Siemens Networks Pvt Ltd, Ericsson India Pvt Ltd, Motorola India Pvt Ltd, Nortel Networks India Pvt Ltd Telceom Operators: Tata Teleservices Ltd, Reliance Communications Ltd, Bharti Airtel Ltd, Idea Cellular Ltd, Vodafone Essar Ltd(Hutch), Videsh Sanchar Nigam Ltd Third party infrastructure leasing companies: Quipo Telecom Infrastructure Ltd, Essar TTIL Ltd, Xcel Telecom Ltd, IMI Ltd
Objects of the Issue
# Capital Expenditure; # Overseas Acquisitions; # Augmenting Long Term Working Capital requirement; # General Corporate Purposes; # Expenses related to Fresh Issue.

Mutual Fund–Our Way

2013-09-01T18:15:00.001+05:30

So the market is so volatile that even seasoned players also are not very sure where it is going. Every day is a new day. So does "Systematic Investment Plan" (SIP) works in this environment. Mostly people have monthly SIP but a month now appears to be a longish period and the advantage of SIPs that you average out and do not try to time the market does not work any more.

So how do we do it. We have done something of modified SIP in our own way. The way we went about it is as follows:

1. Selected following Mutual Funds:

BSL Dividend Yield Plus Direct-G

Franklin India Bluechip Direct-G

HDFC Equity Direct-G

HDFC Prudence Direct-G

ICICI Pru Focused Bluechip Equity Direct –G

IDFC Premier Equity Direct-G

Quantum Long Term Equity-G

UTI Opportunities Direct-G

(Planning to add some debt funds in the same in future)

Why because:

Highly rated as good performance record
From different fund houses thus risk is spread
Covers different categories – Large, Mid etc

2. Now, we decided what is the total amount we want to invest in a month. Let us take around Rs 100000- so if we take around 20 days of market open days, it comes to Rs 5000- per day.

3. Then we started investing Rs 5000- every day in these mutual funds by rotation. This ensures that we are buying market every day whereas at the same time we are rotating investment in these multiple funds.

4. Attached excel sheet helps to track the investments.

5. Created free account on Moneycontrol for the analysis of these investments.

Cons:

Little high maintenance as we have to do investment every day. If by any chance miss a day, next day investment is doubled to cover that.
Since we had higher amount to invest every month, we could select more funds.

Operational tips:

We are doing all these investment online directly on fund house sites so that we are able to invest in Direct plans thus saving on the commission getting paid to broker.
For the above, we have to submit a physical form first time to get folio created
There is some overhead on getting things enabled as in some cases PIN form is to be submitted as well.
We could not use SIP provided by fund houses as there are fix days and we do not like fixing by someone. However if you want to use, we have provided the possible SIP dates in the excel.

(Will post more details if there is this post gets interest)

Click Here for Tracker

New beginnings

2013-08-21T00:27:00.001+05:30

So we went in silent mode.

Yes lot of things were happening. Most of our team members got busy with there life, marriages, career. Nearly all of us moved places and settling at new place, new environment, additional family responsibilities and so on.

In all this our site also moved from one hosting to other...

And then one day which is today, stumble back on it. Pondering on where to start thought of planning again and start afresh. Earlier the focus was on IPO as that was mostly we were investing. IPO dried up and other then SMEs no one is in IPO market.

In fact late last week and this weeks mayhem of stock markets has moved most of the investors away. But as they say when chips are down, it is best time to pick value stocks. If we are too scare to touch stock directly then easy way is to mutual fund way.

With very active SEBI, lot of good things have come in Mutual fund - most of them are online now, Direct plan is best thing to happen to Indian investors > why to pay for commission when there is no service being provided.

Coming back to the point - what are we going to do. We are going to do the same thing as we have started this website for - Sharing our research for your use.

You will see lot of changes in the strategy but that is because we have learned, matured and changed our strategy.

So watch out this space for the same and offcourse if you want to contribute please do let us know...

Increase in Dividend Distribution Tax in Debt Mutual Funds - Impact

2013-04-27T14:44:00.001+05:30

(Courtesy HDFC Securities)

In the FY14 Budget, the Finance Minister has proposed to increase the Dividend Distribution Tax (DDT) on Debt Mutual Funds (other than liquid and money market funds on which the DDT was already 25%) from 12.5% to 25% (plus surcharge and cess) for individuals and HUFs. The hike is proposed to provide uniform taxation for all types of funds other than equity oriented mutual funds in the Mutual Fund Industry.

This amendment will take effect from 1st June, 2013.

Classification of Funds: As far as tax implications on Indian mutual funds are concerned, they are classified as three parts as ‘Equity oriented Funds’, ‘Liquid and money market Funds’ and ‘Debt Funds other than Liquid Funds’. In ‘Equity Oriented Funds’, the categories coming under are Equity Diversified, Equity Sector, Hybrid - Equity Oriented (more than 65% equity) and Arbitrage Funds. Liquid Funds and Liquid ETF are coming under ‘Liquid Funds’ while Ultra Short Term Funds, Floating Rate Funds, Short Term Income, Dynamic Income, Income Funds, Gilt Funds, Fund of Funds, Hybrid - Debt Oriented (less than 65% equity), MIP, FMPs are coming under ‘Debt Funds other than Liquid Funds’.

Tax on distributed income: Given the tax provision on the distributed income, fund houses pay taxes on the dividend distributed to the investors. Fund houses deduct DDT from the Dividend. So the dividends are tax free in the hands of investors.

Existing tax structure on DDT: As per the existing structure, there is no tax levied on the dividend distributed by Equity oriented mutual fund schemes for any investors. But, Liquid and money market Funds are liable to pay the DDT of 25% (plus surcharge and cess) for retail investors while the funds other than Liquid and money market funds are liable to pay DDT of 12.5% (plus surcharge and cess). For institutions and corporates, DDT on Equity funds is nil while 30% (plus surcharge and cess) in case of the dividends from the investments in Liquid Funds and debt funds other than Liquid funds.

Proposed Structure: From June 01, 2013 onwards, retail investors who invest in all debt funds (other than equity funds) are liable to pay DDT of 25% (plus surcharge and cess) on the dividend income. The DDT for corporate investors has been kept unchanged at 30% (plus surcharge and cess).

Increase in Surcharge: Further, the surcharge on Dividend Distribution Tax for all mutual fund schemes has gone up from 5% to 10%. Impact: This move will make dividend options in Debt Mutual Funds unattractive for retail investors. Because the net post tax return in the hands of the investors from dividend plans would be lower as the DDT charged on the debt funds has been increased from 12.5% to 25% (plus surcharge and cess). Meanwhile, the Growth options in the Debt Mutual Funds will become attractive for retail investors who redeem the investments after a year, taking advantage of long term capital gains.

Capital Gain: Since the DDT is applicable for Dividend plans, Capital Gains tax is applicable to Growth plans. The gains from the debt mutual scheme (growth option) are taxed depending on the period the investments in the mutual funds are kept. If the debt mutual fund units are redeemed after a year, then the gains thereon are liable to Long Term Capital Gain tax while the proceeds from the investments which redeemed before one year are taxed as Short Term Capital Gain. For long term capital gains in debt funds, the investor has to pay the tax @ lesser of 10% without indexation or 20% with indexation; (plus education cess). Short Term Capital Gain is taxed as per the normal slab of the investors.

Classification	Categories	Existing	Proposed (From June 01, 2013)
Equity Funds	Equity Diversified, Equity Sector, Hybrid - Equity Oriented (more than 65% equity), Arbitrage Funds	NIL	NIL
Liquid Funds	Liquid Funds, Liquid ETF	27.038% = 25%+ 5% (SurCharges) + 3% (Cess)	28.325% = 25%+ 10% (SurCharges) + 3% (Cess)
Debt Funds other than Liquid Funds	Ultra Short Term Funds, Floating Rate Funds, Short Term Income, Dynamic Income, Income Funds and Gilt Funds. Hybrid - Debt Oriented (less than 65% equity), MIP,FMPs,	14.163% = 12.5%+ 5% (SurCharges) + 3% (Cess)	28.325% = 25%+ 10% (Sur Charges)+ 3% (Cess)

The below tables summaries the changes proposed in the Union Budget on DDT. For Retail Investors (Individuals and HUFs):

For Institutions and Corporates:

Classification	Categories	Existing	Proposed (From June 01, 2013)
Equity Funds	Equity Diversified, Equity Sector, Hybrid - Equity Oriented (more than 65% equity), Arbitrage Funds	NIL	NIL
Liquid Funds	Liquid Funds and, Liquid ETF	32.445% = 30%+ 5% (SurCharges) + 3% (Cess)	33.99% = 30%+ 10% (Sur Charges) +3% (Cess)
Debt Funds other than Liquid Funds	Ultra Short Term Funds,Floating Rate Funds, Short Term Income,Dynamic Income, Income Funds and Gilt Funds.Hybrid - Debt Oriented (less than 65% equity), MIP,FMPs,	32.445% = 30%+ 5% (SurCharges) + 3% (Cess)	33.99% = 30%+ 10% (Sur Charges) +3% (Cess)

Despite the increase in the DDT, Dividend plans in the Debt schemes are still attractive for investors who fall under the higher tax slab of 30%. They still give higher post-tax returns than similar products such as bank fixed deposits. In the Dividend option of debt funds, an investor has to pay the tax of 28.325% (over short term) while in Bank Fixed deposit, he has to pay 30.9%. Growth option in Debt Mutual Funds looks even more attractive if the units are redeemed after a year. Gains thereon are liable to be taxed as Long Term Capital Gains @ lesser of 10% without indexation or 20% with indexation; (plus education cess). Hence, the growth option of Debt funds continues to remain the best bet for anyone who wants to accumulate wealth to meet long-term goals.

Apparently, the categories MIP and Ultra Short Term Funds will be affected much due to the move. Investors who depend on dividend income preferably have invested with MIP categories (in most of the cases). And, the Ultra Short Term category is treated as substitute to liquid funds for their tax efficiencies (hence, both are having similar investment strategy). We arrive at some feasible solutions based on the objectives of the investors who wish to allocate into debt funds.

1. Investors who wish to park their idle money:

Over short term (holding overnight to a year): investors who belong to 30% tax bracket may consider investing in Dividend options of Liquid, Ultra Short term and Short Term Income Funds. They are liable to pay the tax of 28.325% on dividend income. On the other hand, 30.9% of tax has to be paid if Growth option is chosen.

Over Long Term (more than one year): Growth option of Liquid, Ultra Short term and Short Term Income Funds can be the better choice. They are liable to pay Long Term Capital Gains to the lesser of 10.3% without indexation or 20.6% with indexation (plus education cess) while redeeming the units after a year or so.

2. Investors who wish to invest for Short Term:

Dividend options of Ultra Short term and Short Term Income Funds can be the better bets for investors who wish to invest in debt funds over short term. They have to pay DDT of 28.325% on dividend income. On the other hand, they would have pay 30.9% if they chose Growth option.

Effective Post tax yield in Short term investments (for the redemption of within a year):

Particular	Fixed Deposit	Mutual Fund
Growth Option	Dividend Option
Assumed rate of return from the investment (%) p.a	9%	9%	9%
Income tax rate	30.90%	30.90%	NA
Dividend Distribution Tax	NA	NA	28.33%
Effective post tax yields	6.22%	6.22%	6.45%

3. Investors who wish to invest for Long Term:

Growth option of Ultra Short term and Short Term Income Funds can be the better choice for low risk appetite investors. Investors having high risk profile can consider Income and Gilt funds also. If they want marginal equity allocation in their portfolio, then MIP may be the better choice. In all the above cases, investors are liable to pay Long Term Capital Gains to the lesser of 10.3% without indexation or 20.6% with indexation (plus education cess) while redeeming the units after a year or so.

Effective Post tax yield in Long term investments (for the redemption of after a year):

Particular	Fixed Deposit	Mutual Fund
Growth Option	Dividend
			Option
Assumed rate of return from the investment (%) p.a	9%	9%	9%
Income tax rate	30.90%	10.3%	NA
Dividend Distribution Tax	NA	NA	28.33%
Effective post tax yields (lumpsum withdrawal after a year)	6.22%	8.07%	6.45%

4. Investors who wish to have regular income:

Investors who need regular income can consider investing in Liquid, Ultra Short Term, Short Term, Income, Gilt and MIPs mutual fund categories by opting Systematic Withdrawal Plan (SWP). This facility allows investors to receive certain amount in regular intervals. In short, SWP is reverse of Systematic Investment Plan (SIP). In SIP you invest a fixed sum every month for a predetermined time period. Under SWP you withdraw a fixed sum for specified time period or till your corpus becomes zero. SWP allows investors to withdraw from the funds after one year from the date of allotment of the units.

Investors looking for income at periodical intervals usually invest in these funds. Often, a systematic withdrawal plan is used to fund expenses during retirement.

Types of SWPs: Under SWP, withdrawals can be fixed or variable amounts at regular intervals. These withdrawals can be made on a monthly, quarterly, semi-annual or annual schedule. The holder of the plan may choose withdrawal intervals based on his or her commitments and needs. SWP is usually available in two options:

Fixed Withdrawal: Under this you specify amount you wish to withdraw from your investment on a monthly/quarterly basis. Appreciation Withdrawal: Under this you can withdraw your appreciated amount on a monthly/quarterly basis.

SWP is tax efficient option in comparison to other options such as Bank and Corporate Fixed Deposits. The tax liability in SWP is lower than that of bank FDs (with the caveat that withdrawals can begin only after a year to avail concessional tax treatment). The applicable tax rate (for the investor who belongs to 30% tax bracket) on the income from SWP is 10.3% which is lower than the applicable tax rate of 30.9% in Bank FDs. A comparative study in the monthly withdrawals from the investments in debt fund (through SWP) and Bank FD for the period of three years clearly shows that SWP is more tax efficient than Bank FDs. The effective post tax yield, an investor gets from SWP option is close to 8.02% while from the Bank FD is around 6.40%. Further, no TDS is applicable in SWP withdrawals but it is applicable in Bank FDs for interest above a certain limit.

Conclusion: Investors can thus take necessary action to control the impact of the above change in tax liability by reviewing their investments in the background of their liquidity, return needs, risk profiles and redeem/switch their investments/plans/options.

Tribhovandas Bhimji Zaveri - IPO

2012-04-22T19:22:00.005+05:30

Issue Terms	Incorporated in 1949, Tribhovandas Bhimji Zaveri Ltd. is India top jewellery retailer. Company sells gold jewellery, diamond-studded jewellery, platinum jewellery and jadau jewellery though 14 showrooms in 10 cities across five states. Company's most popular and oldest showroom is located at Zaveri Bazar, Mumbai. This was established in 1864. Along with in-house design jewellery, Bhimji Zaveri also offers jewellery from various parts of the world such as Italy, Turkey and Thailand. It was awarded the 'Readers Digest Trusted Brand Asia' in the category of 'Jewellery Shop' in 2006, 2007 and 2008. As at March 31, 2012, it had 1,192 employees. In Fiscal 2011, its revenue from operations was 11,939.31 million on a consolidated basis, of which 72.51% was from the sale of gold jewellery, 22.08% was from the sale of diamond-studded jewellery and 5.41% was from sale of other products. Company has plans to open 43 more showrooms by the end of Fiscal 2015 in 43 cities across 14 states
Issue price / Floor Price (Rs)	120-126
Application per share (Rs)	120
Minimum investment amount (Rs)	5,400.00
Minimum bid (no of shares)	45 shares and in multiples of 45 thereafter
Maximum Shares for Retail	1665-1575
Issue Date and Size
Issue opens	24-Apr-12
Issue closes	26-Apr-12
Listing on	BSE,NSE
Issue size (Rs cr)	200-210
Mkt cap at issue price (Rs cr)	800-840
Shares on Offer	Lakhs
Total shares offered	166.67
Of above, offered to public	166.67
Post-issue shares	666.67
Post-issue promoters' holding(%)	73.95
Company Financials (Rs cr)	31/12/2011
No of months	9
Turnover	1,117.78
Net profit / (loss)	50.31
Borrowings	3.26
Lead Managers & Registrar
Lead Manager(1)	IDFC Capital Limited
E-mail	tbz.ipo@idfc.com
Lead Manager(2)	Avendus Capital Private Limited
E-mail	tbz.ipo@avendus.com
Registrar	Karvy Computershare Private Limited
E-mail	tbz.ipo@karvy.com
Company Contact Details
Company's address	241/43, Zaveri Bazaar, Mumbai
Pincode	400 002
Tel No.	91 22 3956 5001
Fax No.	91 22 3073 5088
Website	http://www.tbztheoriginal.com
Subscription Details	No of times
Subscription Details	No of times
Qualified Institutional Investor	-
Non Institutional Investor	-
Retail Investor	-
Employee	-
Total	-
Description
TBZ is a jewellery retailer in India with 14 showrooms in nine cities across five states; It primarily sells gold jewellery and diamond-studded jewellery
Objects of Issue
To finance the establishment of new showrooms (plans to open new 44 showrooms (26 large format high street showrooms and 18 small format high street showrooms) by end of fiscal 2014;
To finance incremental working capital requirements

Myth of 9.1% assured return in Kotak Assured Annual Income Plan

2012-03-17T16:55:00.001+05:30

If someone say that you can get 9.1% assured return on your investment for 20 years, will you not jump,,, That is what some “financial advisors” tell you about Kotak Assured Annual Income Plan. Tempted – do not be as there is catch. This return you get after investing for 10 years. So what is reality. Actually your investments earn only at 4% less than even saving banks rate.
Not convinced then please see attached calculations:
AssuredIncomePlan.xls - This is calculation for Kotak Assured Income Plan as per their site (http://insurance.kotak.com/individual/savings-invest/assured-income-plan.php)
DepositScheme-IS-02.xlsx - This is calculation for plain vanilla deposit after accounting for insurance premium for the required term plan, income tax on the interest income received, annuity and final payment guaranteed as above plan.
And without any surprise, the interest rate at which you need to invest is just 6% and not 9.1% to match the guaranteed return of the plan.
So beware of mixing investment with insurance…

----
Update-01> Have taken 30% tax bracket instead of earlier 10% in order show worst case scenario.

Second Innings

2012-03-12T00:48:00.000+05:30

When we started way back in 2007, we used Wordpress to host our website since that time Blogger was not that mature and the functionality was limited. Over last 5 years Blogger has grown and lot of functionality got added. On other side we were concentrating on IPOs only that have dried up over last two years thus our website also got did not get much update. So now we want to revive our website and first logically thought was where do we host. After lot of deliberations, we decided to move to Blogger so to avoid vagaries of the hosting companies. So here we are on Blogger and with renewed mandate to expand beyond IPOs and start posting about different investment options. Thanks for all our patrons and we will ensure that we will be up to your expectations.

OIL Issue opens today

2009-09-07T18:52:00.000+05:30

Edserv Softsystems Ltd - IPO

2009-02-06T02:51:00.000+05:30

Edserv Softsystems Ltd
Period	05-Feb to 09-Feb 2009
Size (Equity Shares)	39,73,908
Type	100% Book Built Issue (Initial Public Offer IPO)
Face Value	Rs. 10-
Price Range	Rs 55 to Rs 60
Market Lot	100
Max shares Retails investor can apply at cut off	1600
Registrar	Karvy Computershare Private Limited
Registrar’s email	edserv.ipo@karvy.com
Lead Manager	Keynote Corporate Services Limited
Listing	BSE, NSE
Grading	CARE has assigned an IPO Grade 1 to Edserv Softsystems IPO. This means as per CARE, company has Poor fundamentals. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
About the company
Chennai-based Edserv provides integrated learning and placement solutions, customised software solutions and placement consulting to clients in the field of IT and non-IT verticals. The company has three business units--ELMAQ (IT Training), Edserv (HEADS) and Lambent (Software Development).
Objects of the Issue
# Content Development; # Establishment of HEAL laboratories; # Establishment of Regional HEADS offices; # Development and Implementation of centralized LAMPS Portal Engine; # Issue Related Expenses; # Promotional, Trademark, copyright IP rights Expenses

Why no new posts...

2008-11-17T16:44:00.000+05:30

You all may be wondering why there are no new posts.

As you all know financial market is under turmoil and at that time, all small investors like us are best to be away from this roller coster and wait for things to improve.

Refund before Anniversary - SVPCL to refund IPO Money

2008-09-01T16:19:00.001+05:30

Supreme Court (SC) rejected SVPCL's appeal and asked them to refund the money to the investors. The SVPCL IPO was open from October 22, 2007 to October 26, 2007 and subscribed 1.09 times (retail 2.2419 times) however BSE rejected the application for listing as Post issue Merchant Bankers (UTI Securities Limited) didn't provided an undertaking as required. Now SVPCL has to refund the money back to its IPO investors soon. SVPCL Ltd officials were unable to comment of this.

Third Biggy to go hiding - Reliance InfraTel choose not to face IPO doldrums

2008-09-01T16:19:00.000+05:30

Reliance Infratel is a telecom infrastructure provider company part of Reliance ADA group's Reliance Communications ltd. The company had filed request for IPO but choose not to proceed considering market conditions.

Resurgere Mines & Minerals India Ltd IPO Final subscription status:

2008-08-17T17:48:00.000+05:30

Resurgere Mines & Minerals India Ltd IPO Final subscription status:

Overall subscription: 1.16 times

Retail Individual Investors (RIIs) category: 0.40 times

Qualified Institutional Buyers (QIBs): 1.34 times

Non Institutional Investors: 2.41 times

Austral Coke & Projects Ltd IPO Final subscription status

2008-08-17T17:47:00.000+05:30

Austral Coke & Projects Ltd IPO Final subscription status:

Overall subscription: 1.65 times

Retail Individual Investors (RIIs) category: 0.67 times

Qualified Institutional Buyers (QIBs): 0.62 times

Non Institutional Investors: 7.32 times

Vishal Information Technologies Ltd IPO – Listing Date

2008-08-08T02:45:00.000+05:30

Vishal Information Technologies Ltd IPO is getting listed on 11-Aug-08 . Listing details are:

Vishal Information Technologies Ltd
Listing Date	11-Aug-2008
BSE Scrip Code	533011
NSE Symbol	VITLINFO
Listing in	'B' Group of Securities
ISIN	INE108J01014
Issue price	150
Face Value	10

Mother of all IPOs coming

2008-08-08T02:36:00.000+05:30

The proposed mega public listing of Bharat Sanchar Nigam Ltd (BSNL) moved a step ahead with the government indicating a valuation of about Rs 2,00,000 crore for the state-owned telecom behemoth.

'ASBA' payment method – new rabbit from SEBI’s hat

2008-08-07T02:05:00.000+05:30

Introduced in July 2008, Applications Supported by Blocked Amount (ASBA) Process, is the alternative payment method (optional) for IPO application where the IPO bidding amount remains in investors account, but blocked by the bank until allotment is done. If there is no allotment, the amount would be released by bank, and the investor could be able to use it immediately.

This is an additional method of payment available exclusively to retail individual investors through participatory banks (SCSB's). Banks would be required to register themselves in the SCSB list, which would be available on SEBI's website. The purpose of adding this new payment option is to reduce the turn around time for IPO Stock listing and to make the refund process faster.

Vishal Information Technologies Ltd IPO allotment status

2008-08-07T02:03:00.000+05:30

Vishal Information Technologies Ltd IPO allotment status is out and available at http://www.intimespectrum.com/site/ipo.asp

Vishal Information Technologies Ltd IPO was open on July 21, 2008 and closed on July 24, 2008. IPO

Nu Tek India Limited IPO Final subscription status

2008-08-07T02:00:00.000+05:30

Nu Tek India Limited IPO Final subscription status:

Overall subscription: 1.63 times

Retail Individual Investors (RIIs) category: 1.01 times

Qualified Institutional Buyers (QIBs): 2.06 times

Non Institutional Investors: 1.78 times

That means retail investors will get fill allotment except for those whose applications are not correct.

Resurgere Mines & Minerals India Limited - IPO

2008-08-07T01:57:00.000+05:30

Resurgere Mines & Minerals India Limited (Formerly Exfin Shipping (India) Ltd.)
Period	11-Aug to 13-Aug 2008
Size (Equity Shares)	5000000
Type	100% Book Built Issue (Initial Public Offer IPO)
Face Value	Rs. 10-
Price Range	Rs 263 to Rs 272
Market Lot
Max shares Retails investor can apply at cut off
Registrar	Intime Spectrum Registry Ltd
Registrar's email	rmmil.ipo@intimespectrum.com)
Lead Manager	Motilal Oswal Investments Advisors Pvt Ltd
Listing	BSE, NSE
Grading
About the company
Incorporated: 1987 Business: Extraction and processing of iron ore products ie lump ore and size ore, and is predominantly a manufacturer of calibrated lump ore (CLO) and Iron Ore Fines. The company is also engaged into merchant export of iron ore fines to China. Resurgere Mines & Minerals India Ltd is ISO 9001:2000 and ISO 14001:2004 Certified from UKAS, United Kingdom. Company is a recognised Star Trading House of India and is also member of various business councils i.e. CAPEXIL, FIEO, FIMI etc. Company currently operates in Nuagaon, Kendujhargarh district and Maharajpur, Mayurbhanj district of Orissa and company purport to commence operations in Singhbhum district of Jharkhand in the near future. Resurgere Mines & Minerals India Ltd have entered in to longterm contracts for these mines, at Nuagoan and at Maharajpur, with the leaseholders for raising and purchasing of iron ore. Company have also entered into similar arrangement with a leaseholder in a mining area in the West Singhbhum district of Jharkhand for the raising of iron ore and then supply of entire production of the mine. All the three mines carry high quality iron ore of about 62% - 64% Fe content. They have made an application to the Collector of Sindhudurg district for the grant of an iron ore mining lease over an area of 108.77 hectares in village Banda, District Sindhudurg in Maharashtra. Company have also applied for two prospecting leases of iron ore in Banda region to the Collector of Sindhudurg district. They are also engaged in merchant export of iron ore fines to China. Resurgere Mines also propose to venture in bauxite mining and processing business in the near future and hold a mining lease over bauxite mines situated in Yelwan Jugai, Maharashtra through wholly owned subsidiary M/s. Warana Minerals Private Limited (WMPL). WMPL is a partner with 60% share in a registered partnership firm, Shri Warana Minerals which is engaged in the business of mining bauxite ore under the said 30 year mining lease. The mining assets of Company, except Banda mine, have cumulative estimated reserve of 74.82 million tonnes of iron ore and 4.92 milllion tonnes of bauxite as certified by Central Mining Research Institute.
Objects of the Issue
# Purchase of Plant and Machinery for setting up of our own extraction and crushing facilities at the mines; # Purchase of railway rakes to set up our own logistics infrastructure facilities; # Margin money for working capital; # General Corporate Purposes.

Austral Coke & Projects Limited - IPO

2008-08-07T01:54:00.000+05:30

Austral Coke & Projects Limited
Period	07-Aug to 13-Aug 2008
Size (Equity Shares)	7260000
Type	100% Book Built Issue (Initial Public Offer IPO)
Face Value	Rs. 10-
Price Range	Rs 164 to Rs 196
Market Lot	34
Max shares Retails investor can apply at cut off	510
Registrar	Intime Spectrum Registry Ltd
Registrar's email	austral.ipo@intimespectrum.com)
Lead Manager	Allbank Finance Ltd, Saffron capital, PL Capital, Elara Capital Ltd
Listing	BSE, NSE
Grading
About the company
Incorporated: 1994 Business:Manufacture and sale of low ash metallurgical coke and refactory in India. LAM Coke produced by Austral is used as a reducing agent in blast furnaces for reducing iron or into hot metal in steel, foundries, zinc smelters, cement and Ferro alloy industries. Company also deals in trading of textiles and rentals of construction and earthmoving machineries to medium/large construction companies who are engaged in the business of constructing/building of roads, airports, power projects, institutional & industrial complexes, multiplexes and residential buildings and other related infrastructural activities more importantly catering to Public Sector undertakings, private sector, CPWD and various national & international government aided projects. Currently it has capacity to produce 375,000 MT coke per annum which is planned to increase up to 525,000 MT per annum by FY'09. Current capacity utilization of LAM Coke plant is 65% of 175,000 MTPA which is expected to increase up to 75% of 525,000 MTPA by FY'09. Company through its subsidiary Astra Mining Limitada, Mozambique, acquired six prospective licenses admeasuring 100,000 hectares in Mozambique. This acquisition will provide raw material security to Austral.
Objects of the Issue
# Setting up of 1,50,000 MTPA of LAM Coke plant; # Captive Power plant of 8 MW; # Acquire prospecting Mining Licenses in India / internationally; # Prepayment of High cost debt; # General Corporate Purposes; # Expenses related to Fresh Issue.

Birla Cotsyn - Listed at discount

2008-07-31T03:51:00.000+05:30

Birla Cotsyn, a Yash Birla group company, today closed at a discount of 32.5 per cent at Rs 9.45 from its opening price of Rs 14.90 on the NSE on the day one of the listing. The issue price of the scrip was Rs 14. The listing price was also its intra-day high the scrip touched and it also touched an intra-day low of Rs 8.75. On the BSE, too, the scrip closed down at Rs 9.2 from its opening price of Rs 14.70. It touched an intra-day high of Rs 17.50 and a low of Rs 8.55. The company raised close to Rs 125 crore through its recent IPO. The company plans to utilise these funds to set up an integrated textile unit and a garment manufacturing plant at its existing facilities in Maharashtra and also for its opening of retail outlets, which it plans to set up across the country.

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