70. Eagleye| Link| Bookmark|
January 9, 2017 4:45:24 PM
IPO Guru (6600+ Posts, 21900+ Likes)
IPOs IN THE PIPELINE (Status as of 06th January 2017)
SEBI approval received (Likely to open within the next few months)
BSE >>> DRHP date 09-Sep-16 G R Infraprojects >>> DRHP date 29-Sep-16 Genesis Colors >>> DRHP date 28-Sep-16 Continental Warehousing Corp. >>> DRHP date 30-Sep-16 Avenue Supermarts >>> DRHP date 29-Sep-16 Aster DM Healthcare >>> DRHP date 24-Jun-16 Seaways Shipping and Logistics >>> DRHP date 28-Mar-16 CL Educate >>> DRHP date 30-Mar-16 Hinduja Leyland Finance >>> DRHP date 29-Mar-16
DRHP Filed – SEBI approval is awaited
GTPL Hathway >>> DRHP date 30-Dec-16 Housing & Urban Development Corp. >>> DRHP date 30-Dec-16 National Stock Exchange of India >>> DRHP date 28-Dec-16 PSP Projects >>> DRHP date 27-Dec-16 Central Depository Services >>> DRHP date 24-Dec-16 S Chand & Company >>> DRHP date 16-Dec-16 Music Broadcast >>> DRHP date 28-Nov-16 Prataap Snacks >>> DRHP date 30-Sep-16 Shankara Building Products >>> DRHP date 28-Sep-16 Security & Intelligence Services >>> DRHP date 26-Sep-16
CONSTRUCTION ILLEGALITIES, IPO LEAVE BSE IN DOUBLE TROUBLE
Bombay Stock Exchange, the oldest bourse in the continent, finds itself at the core of two legal disputes. While a contempt of court petition filed in the high court by a Vile Parle resident calls out irregularities in the building, a legal notice has challenged the launch of an initial public offering for BSE.
The contempt petition has been filed by Yogesh Mehta against city officials, highlighting their inaction against illegalities in the building. It alleges that the delay in action is because of the upcoming IPO — through the offer for sale route — under which a total of 262 shareholders will offload close to 3 crore shares valued at an estimated Rs 1,300 crore.
The petitioner, through lawyers Devmani Shukla and Vijayprakash Yadav, has submitted that civic officials have not yet complied with a high court order — passed on a 2013 petition by a bench headed by Justice SS Kemkar on June 9 last year — because they do not want the BSE’s IPO, likely to be issued shortly as disclosed from the draft prospectus dated September 9, to suffer.
Other than focussing on illegalities in the main building, Phiroze Jeejeebhoy Tower, the earlier petition, filed by Mehta himself in 2013, highlighted that the adjoining sevenstorey Rotunda Building, hadn’t been issued the occupancy certificate (OC).
It also accused the BSE of illegally using the refuge area on floors 3, 13, 26 and 28. The stock exchange lost the case right up to the Supreme Court, while another public interest litigation in the case was dismissed by the high court, after which the floors were restored as per the original plan.
The earlier petition further emphasized that the top two floors of the building, 29 and 30, seemed to have been erected illegally as they had not been sanctioned in the original plan. It mentioned that of the three basement levels which were supposed to be used solely for parking, two were being used for sundry office chores. It is these irregularities that the current petition claims the city officials haven’t acted against.
At the time the BSE informed the court that the refuge areas had been restored and that while the main building had an occupancy certificate, the OC application for the adjoining building was pending with the Brihanmumbai Municipal Corporation. The court then directed the BMC — through the June 9 order — to hear Mehta and the BSE, and take action within four months. But neither has the BMC decided BSE’s application for OC, nor has it taken any action against it.
The contempt petition also argues that since BSE’s draft prospectus on the IPO declares that the building is still owned by a trust called Native Share Stock Brokers Association, the bourse should not be allowed to apply for regularising the illegalities or seek an OC.
The legal notice against the IPO, meanwhile, sent by one Kiran Mehta through the same lawyers, says the exchange cannot be allowed to go ahead with the public offer since the 2005 notification that cleared the IPO allowed two years at the most for it to be launched.
The notice contends that the notification for clearance for the IPO — which was originally cleared by the Securities and Exchange Board of India in 2005 and issued as per the Securities Contracts (Regulation) Act, 1956, in May that year — allowed the exchange to come up with an IPO within 12 months, with a provision of extension for another 12 months.
It asks the BSE not to proceed with the IPO in the current form and warns it of legal proceedings if it fails to reply to the notice by January 10.
Dear Nidhike , come and contribute. Aap to Narender Hirwani jaisa perform ker rahe ho.
57. ShareView| Link| Bookmark|
January 7, 2017 6:11:44 PM
IPO Guru (2300+ Posts, 3600+ Likes)
How Kostak & GMP can be decided in advance if official price band is not declared ? Price Band is going to be declared next week officially. No off-mkt deals btwn brokers. Expected price band is 900-950 instead of 800-850. Expected Lot size is 14. Till then Let''s wait & watch
@share view! Is this authentic info? Or are you bluffing here as usual?
57.2. ShareView| Link| Bookmark|
January 9, 2017 2:37:52 PM
IPO Guru (2300+ Posts, 3600+ Likes)
amarever , My info is authentic as usual otherwise you are not following me since green signal bio . You can take it as bluff if you want to , because even ''DABBA Trader'' also trades on those stocks which has specific price and If you want to know GMP & kostak in advance without any price band and lot size , then ask your broker.Your broker will reply you perfectly.I''ve already written words like ''next week'',''expected'',''wait and watch'' above but you have habit to comment anything without any patience.Advise you to read comment no. 59.your doubts may get cleared.In this forum also all discussions have been ceased since two days because of lack of any relevant data but you have not noticed it.
NSE is a very good bet for long run but these valuations look stretched.. Also ipo size is huge so all institutional investors & HNI will get decent allocations in IPO and they may not need to step on each others'' toes to get the shares after lisitibg.. So listing gains may be limited.. Also net profit growth has been muted with CAGR of only 2.6% in last five years...But NSE is a must have stock for one''s long term portfolio because of near monopoly in ever expanding securities and trading market..
Sept.2016 (H1) EPS is 9.86 I.e 9.86*2==19.72 with 2 FV ==39.44
In worst case give it only 35 @850 ..it commands 24PE
Something wrong....because as per it''s robust growth in H1 and FY15 to FY16(this always will b there ...no one knows why only this part of whole decade can make this type robust growth)
PE less than 25 is unbelievable .
No lead manager in whole world can have this type of kind heart ::-(
They hv only this range of price band 30*35 == 1050 Or 35*35==1225 .....or in worst case 50*35===1750....!!!!!!!!!!!!!!!!!!!!!!