Vaswani Industries Ltd IPO anyone who has applied this ipo and sold application ?? till date this has been not settlled ? any one''s settelled.. Broker is saying that noone''s application sold has been settlled..
HOLDING OF RAILWAY BOND UPTO 10/4, WILL GIVE YOU INTEREST+VERY GOOD APPRECIATION. DUE TO HEAVY FLOATING STOCK OF BONDS, WE ARE NOT GETTING GOOD PREMIUM. SLOWLY MARKET IS ABSORBING THE STOCK AND THE PRICES ARE GOING ON. NHAI+PFC IS THE EXAMPLE.
State-owned National Buildings Construction Corporation (NBCC) plans to come out with an initial public offer (IPO) by March-end this year, Chairman and Managing Director Vishnu P Das said on Wednesday.
This will follow five per cent stake sale of ONGC through an auction, which is slated to open tomorrow. The government is planning to offload 10 per cent of its stake through the issue. NBCC is planning to raise around Rs 200 to Rs 250 crore through the share sale, according to reports. The company has filed a draft red herring prospectus (DRHP) on February 9 but is yet to get the approval from markets regulator Securities and Exchange Board of India (Sebi).
The issue will give a discount of five per cent for retail investors .
“We are planning to come out with the IPO in the current financial year,” said Das. When asked about the timing of the issue, he said: “Book running lead managers and government have decided that we come out with the offer now.”
The company which is into project management consultancy for government’s construction projects and real estate projects has a order book of Rs 10,622 crore.
“We have delivered profits constanly for four to five years, our networth has improved over the years and we have delivered projects within schedule,” Das said about the company’s track record.
The company which has land parcels in Patna, Kochi and Gurgaon among others plans to launch the projects for sale in the coming months.
IDBI Capital Markets and Enam Securities are the bankers to the issue
nse notice of listing irfc Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Page 1 of 3 NATIONAL STOCK EXCHANGE OF INDIA LIMITED DEPARTMENT : LISTING Download Ref.No.: NSE/CML/20143 Date : February 28, 2012 Circular Ref.No.: 167/2012 To All Members Sub : Listing of Series 1 and Series 2 Tax Free Secured Redeemable Non Convertible Bonds of Indian Railway Finance Corporation Limited. In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from March 02, 2012 and the designated security codes thereof shall be as specified in Annexure. In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure. For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure. This circular shall be effective from March 02, 2012. For and on behalf of National Stock Exchange of India Limited Hari K Vice President Telephone No Fax No Email id +91-22-26598235/36, 26598346 +91-22-26598237/38 Email Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Page 2 of 3 Indian Railway Finance Corporation Limited Symbol IRFC Name of the Company Indian Railway Finance Corporation Limited Face value of NCDs (Rs. /NCD) Rs. 1000/- Paid up value (Rs.) Rs. 1000/- Issue Price (Rs. / NCD) Rs. 1000/- Series N1 N2 ISIN INE053F07520 INE053F07538 Security Description Tax Free Secured Redeemable Non-Convertible Bonds- Series 1: 8.00% Per Annum. Tax Free Secured Redeemable Non-Convertible Bonds- Series 2: 8.10% Per Annum. No. of Securities 31734479 30954421 Distinctive number range 1-31734479 1-30954421 Coupon (%) 8.00% Per Annum* 8.10% Per Annum** Date of Allotment 23-Feb-2012 Redemption date 23-Feb-2022 23-Feb-2027 Interest payment dates 15 th October every year Credit Rating CRISIL AAA/Stable, CARE AAA, [ICRA] AAA Market lot 1 *0.15% additional interest for category III for Series 1 as per the issue related terms ** 0.20% additional interest for category III for Series 2 as per the issue related terms Note: For more details refer Annexure I enclosed. The Bonds of Indian Railway Finance Corporation Limited (Symbol: IRFC) shall be traded in the Normal Market segment (Rolling Settlement) in compulsory demat for all investors. Address of Registered Office & Corporate Office of the Company: The Company Secretary UG Floor, East Tower, NBCC Place Bhisham Pitamah Marg, Pragati Vihar Lodhi Road, New Delhi - 110003 Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Page 3 of 3 Tel: 011- 24369766-69 Fax: 011- 24366710/70 Company Secretary : Mr. S.K Ajmani Web Site: www.irfc.in Email id: Email Financial Year: April to March Address of Registrar: Karvy Computershare Private Limited. Plot No.17 to 24, Vittal Rao Nagar, Madhapur, Hyderabad- 500081 Tel: 040- 44655000 Fax: 040- 23431551 Contact Person: Mr. M. Murali Krishna
irfc listing Trading Members of the Exchange are hereby informed that the under mentioned securities of Indian Railway Finance Corporation Limited are admitted to dealings on the Exchange with effect from Friday, March 2, 2012 in the list of "F GROUP".
Indian Railway Finance Corporation Ltd Bonds in the nature of Secured Redeemable Non convertible Debentures of face value Rs. 1000 each.
Name of the Company Indian Railway Finance Corporation Limited
Indian Railway Finance Corporation Limited
Name of the Series Series -80 Series -80 A Face/Paid-up value of Bonds (Rs. /Bond) Rs. 1000 Issue Price of Bonds (Rs. /Bond) Rs. 1000 Scrip Code 961731 961732 Scrip ID 8IRFC230222 810IRFC2327 Security Description 80th Series Tax Free Secured Redeemable Non Convertible Bonds in the nature of Debentures (for 10 years) 80th A Series Tax Free Secured Redeemable Non Convertible Bonds in the nature of Debentures (for 15 years) No. of Securities 31734479 30954421 Distinctive number 1 – 31734479 1 – 30954421 ISIN INE053F07520 INE053F07538 Abbrv. Name 8IRFC230222 810IRFC2327 Coupon (%) * (refer note 1) 8.00% 8.10% Deemed Date of Allotment 23/02/2012 23/02/2012 Date of Allotment 23/02/2012 23/02/2013 Lock-In Up to Not Applicable
Put/Call Option (Buy Back Date) Buyback Amt. Buyback Intimation Period Redemption/Maturity date February 23, 2022 (for 80th Series) February 23, 2027 (for 80th A Series) Tenor 10 Years 15 Years Maturity/Redemption Amt. per Bond Repayment of the face value of Bonds plus any Interest that may have accrued at the Redemption Date First Interest payment date 15- Oct- 2012 15- Oct- 2012 Credit Rating CRISIL AAA/Stable, CARE AAA & ICRA AAA Market lot 1 Bond
REC bond: Taxman's Rs 1-lakh new cap less than Sebi norm N Sundaresha Subramanian & Samie Modak / Mumbai Feb 28, 2012, 00:23 IST
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The Union government has reduced the cap on subscription by retail investors in the Rs 3,000-crore tax-free bond issue of Rural Electrification Corp (REC) to Rs 1 lakh, from Rs 5 lakh that was allowed for previous such issues.
A notification dated February 14 issued by Central Board of Direct Taxes (CBDT) clearing the issue has said that “any individual investing over Rs 1 lakh will be classified as high net worth individual (HNIs)”.
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News Now - CII seeks comprehensive package in Budget - Nissan recall to impact 9,600 made-in-India Micra cars - Global Cayenne recall to affect 483 units in India: Porsche - G20 moves to line up huge rescue deal for April - Budget team: Mix of old & new faces - West Bengal burdened with bumper paddy crop All previous tax-free bond issues from National Highways Authority of India (NHAI), Power Finance Corp, Housing and Urban Development Corp, and Indian Railway Finance Corp allowed retail investors to invest up to Rs 5 lakh.
Some investors feel the move will unduly help HNIs and institutions garner a better share of the issue. Arun Kejriwal, director, Kejriwal Research and Investment Services said, “The unsubscribed retail portion, which is going to be significant, will be cornered by the larger investors.”
Kejriwal also said the move is an infringement of the market regulator’s territory. “Securities and exchange Board of India (Sebi) has the jurisdiction over public issues of both debt and equity. How can a tax authority or an individual company decide unilaterally who is a retail investor? If at all CBDT wants to change, it has to do it through Sebi.” In 2010, Sebi doubled the limit for retail investors to Rs 2 lakh.
REC’s tax-free bond issue is likely to open on March 5. Ajay Manglunia, senior vice-president, Edelweiss Securities, said, “The move will impact retail participation. Most of the retail investors were investing Rs 5 lakh in these bonds, now if the limit is reduced to Rs 1 lakh you will need much more applications, which could be tough to get."
According to Manglunia even in equity offerings, where the risk is much higher and the issues are relatively smaller, retail investors are allowed to invest up to Rs 2 lakh. “Considering this, the retail quota for bond issues has to be much higher,” he added.
Analysts say the government move followed reports of misuse of retail quota by HNIs.
Media reports had talked about a grey market in NHAI bond issue, in which portions reserved for institutional and High Net worth investors were oversubscribed in the first few days.
Since the retail portion, which had Rs 2,500 crore worth of bonds remained undersubscribed, many richer investors routed their investments through retail investors, reports had said.
The CBDT move is aimed at this practice, according to experts. Even if all applicants subscribe for Rs 1 lakh, the issue will need 7.5 lakh applications to ensure subscription of Rs 750 crore allotted to retail. This looks difficult as even in the NHAI issue which saw huge demand total number of applications was around 5 lakh.
Bankers say this new limit will mean they will have to bring in more investors. Rajender Rautela, director, RR Investors Capital Services, lead manager said, “All debt issues beginning the Shriram Transport NCD issue had Rs 5 lakh as retail limit. NHAI, PFC and IRFC tax free bond issues benefitted from it. Now, with the new limit of Rs 1 lakh fixed for REC, we need three to four times the applications seen in earlier issues to fill up the retail quota