IPO Alerts

Monday, May 20, 2013 2:12:14 PM

In a bid to protect the interests of retail investors, market regulator SEBI has framed draft norms for mandatory safety net mechanism in IPOs. According to SEBI, the safety net mechanism would be available for all securities allotted to original resident retail individual allottees that had made an application for up to Rs. 50,000. And the total obligation for such provision is capped at five to ten per cent of the issue size.

This Safety Net is now mandatory for all the IPOs hence forth and will be triggered in cases where the price of the shares has depreciated by more than 20 per cent from the issue price. The price for this provision shall be calculated as the volume-weighted average market price of such shares. Safety Net shall be effective for six months from the date of trigger.

Click on below link to read more:
http://www.chittorgarh.com/article/ipo_safety_net/32/

Wednesday, May 15, 2013 11:47:57 AM

Onesource Techmedia Ltd is entering in the capital markets (through BSE SME) with an initial public offering, IPO of 20,00,000 Equity Shares of Rs 10/- each aggregating upto Rs 20 crore. The price for the issue has been fixed at Rs 14/- per share.

Onesource Techmedia Ltd is engaged in the business of distribution and trading of media contents in the form of audio and video cassettes, compact disks etc. They enter in to royalty agreements with various media houses which pave the way for marketing the contents of Hindi devotional, Bengali devotional, Bengali folk songs, Rajasthani Devotional, Rajasthani Folk, Bhojpuri Bhajan, Bhojpuri film, Animation movie – Jai Vigneswara, Tamil TV serials in India and abroad.

The issue opens on May 17, 2013 and closes for subscription on May 21, 2013. The equity shares of the issue are proposed to be listed on the SME Platform of BSE Limited.

Monday, May 13, 2013 6:00:11 AM

Justdial Limited is entering in the capital markets with an initial public offering, IPO of 17,497,458 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 470/- at lower level and Rs 543/- at upper level.

Justdial Limited (Just Dial) is popular local search service provider in India. Just Dial's search services are available to users through Internet, mobile Internet, telephone and text (SMS). 

The issue opens on May 20, 2013 and closes for subscription on May 22, 2013. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and MCX-SX.

Friday, May 03, 2013 11:21:18 PM

Scotts Garments IPO cancelled due to poor response from their investors. Scotts Garments IPO has received bids for 28,17,200 shares as against issue size of 1,05,06,954 shares on the last day of the bidding for the IPO. The IPO was finally subscribed 0.27 times. The bidding for the IPO began on 25 April 2013 and closed today on 3rd May for subscription.

Scotts Garments had revised the IPO closing date and price band due to muted investor response. The revised price band of the company is Rs 118-120 per share from Rs 130-132 per share set earlier. Scotts Garments IPO closed on May 3rd and earlier decided to close the issue on 29 April 2013.

Scotts Garments Ltd is engaged in the business of garment manufacturing. In addition to manufacture superior quality garments, company also provides additional facilities such as embroidery, printing, dyeing and washing. Scotts Garments export their readymade knitted and woven apparel to international clients including Denmark, Gander Mountain – USA, S Oliver, Frankfurt, C&A buying, Germany etc.

Monday, April 29, 2013 10:34:01 AM

- By Dilip Davda

The first main line IPO of this fiscal which came with aggressive pricing and as it was cleared by SEBI a year before, it smoothly avoided the “Safety Net” tag and opened its issue on 25.04.13 in a hurried way before expiry of SEBI card limits.

Refer my previous analysis with a remark to buy at discount post listing, still stands valid, as despite muted response it reduced the price band to Rs. 118-120 which is still higher than the pre-IPO placement price and is also missing on “Safety Net”.

If one looks at subscription pattern, the issue got just 4200 shares bid on day one and it rose to 43500 no on day 2 i.e. 26.04.13. Due to Saturday and Sunday it was to close on Monday 29.04.13 and despite poor response, the merchant bankers and promoters announced closure of the IPO in pink financial and ultimately met disaster.

As per final tally as per BSE/NSE web, the issue got subscribed to the tune of 25% on Monday eve with QIB (36%), HNI (36%), Retail (6%) and Employees (12%). With such poor response, the merchant bankers and promoters have reduced the price band to Rs. 118-120 and is now extended till 03.05.13. But considering its 95% export earnings with over 76% coming from European countries that are facing crisis, it is not worth even at this reduced pricing in absence of “Safety Net”. It reported higher net with window dressing with one time profit from sale of investment just to boost its IPO pricing.

Wednesday, April 17, 2013 2:43:47 AM

Scotts Garments Ltd is entering in the capital markets with an initial public offering, IPO of 10,506,954 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 130/- at lower level and Rs 132/- at upper level.

Scotts Garments Ltd is engaged in the business of garment manufacturing. In addition to manufacture superior quality garments, company also provide additional facilities such as embroidery, printing, dyeing and washing. Scotts Garments export their readymade knitted and woven apparel to international clients including Denmark, Best Seller, Gander Mountain, S.Oliver, C&A, Smith and Brooks, Metro International.

The issue opens on Apr 25, 2013 and closes for subscription on Apr 29, 2013. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Thursday, March 28, 2013 12:05:08 PM

Repco Home Finance IPO allotment status is available online.

Repco Home Finance IPO was open on Mar 13, 2013 and closed on Mar 15, 2013. IPO was oversubscribed by 1.65 times (0.51 times in retail). The equity shares of the issue are proposed to be listed on the BSE and NSE.

Monday, March 25, 2013 6:32:13 AM

Samruddhi Realty Ltd is entering in the capital markets (through BSE SME) with an initial public offering, IPO of 2,170,000 Equity Shares of Rs 10/- each aggregating upto Rs 2.60 crore. The price for the issue has been fixed at Rs 12/- per share.

Samruddhi Realty Ltd is the flagship company of Samruddhi Group and engaged in the business of real estate development. Company is headquartered in Bangalore and core area of operations is residential projects.

The issue opens on Mar 28, 2013 and closes for subscription on Apr 03, 2013. The equity shares of the issue are proposed to be listed on the SME Platform of BSE Limited.

Saturday, March 23, 2013 2:00:45 AM

Ashapura Intimates Fashion Ltd is entering in the capital markets (through BSE SME) with an initial public offering, IPO of 5,250,000 Equity Shares of Rs 10/- each aggregating upto Rs 21 crore. The price for the issue has been fixed at Rs 40/- per share.

Ashapura Intimates Fashion Ltd is engaged in the business of designing, branding, marketing and retailing intimate garments such as loungewear, bridal night wear, honeymoon sets, bathrobes and night wear.

The issue opens on Mar 28, 2013 and closes for subscription on Apr 04, 2013. The equity shares of the issue are proposed to be listed on the SME Platform of BSE Limited.

Tuesday, March 19, 2013 6:11:25 AM

Opal Luxury Time Products Ltd is entering in the capital markets with an initial public offering (IPO), aggregating upto Rs 13 crore through a book building process. The price band for the issue has been fixed at Rs 130/- at lower level and Rs 135/- at upper level.

Opal Luxury Time Products Ltd is engaged in manufacturing and marketing of home decor products. Currently, Opal design and manufacture wall and table clocks and market them under two brands, the premium brand 'Opal' and budget brand 'Caliber'.

The issue opens on Mar 25, 2013 and closes for subscription on Mar 28, 2013. The equity shares of the issue are proposed to be listed on the SME Platform of the NSE.