Acropetal Technologies Ltd IPO Message Board (Page 5)

sbi bond

(Reuters) - State Bank of India (SBI.BO), the country's largest lender, received subscriptions for 85.8 billion rupees ($1.9 billion) for a bond sale, or more than 8.5 times the minimum on offer, two sources with direct knowledge told Reuters on Tuesday.

The state-run bank aimed to raise 10 billion rupees, with a greenshoe option for an equal amount. However, the bank said in its prospectus it had the option to retain up to 100 billion rupees if subscriptions from retail investors were more.

The bank, which along with its associates controls about a quarter of all loans in India, is raising the money to meet its assets growth. Demand for loans in India expanded 23.9 percent on year as of Feb. 11.

Retail investors put in bids for 45.72 billion rupees, compared with the minimum 5 billion rupees offered, said the sources who could not be identified as they were not authorised to speak to media.

For rich, or high net worth, individuals, the subscription was 5.08 billion rupees and for qualified institutional buyers it was 35.01 billion rupees, compared with the minimum offer of 2.5 billion rupees each, they said.

"These are provisional figures as there are some more applications left," said one source.

The bank had offered 10-year bonds at 9.75 percent for retail investors, and 9.3 percent for non-retail applicants. The bonds carry a call option in the fifth year.

It also offered 15-year bonds at 9.95 percent to retail investors and 9.45 percent to non-retail investors. The bonds have call option in the tenth year.

State Bank's previous public bond issue in October, worth 5 billion rupees, was subscribed 20 times, with the bank retaining 10 billion rupees.

(Reuters) - State Bank of India (SBI.BO), the country's largest lender, received subscriptions for 85.8 billion rupees ($1.9 billion) for a bond sale, or more than 8.5 times the minimum on offer, two sources with direct knowledge told Reuters on Tuesday.

The state-run bank aimed to raise 10 billion rupees, with a greenshoe option for an equal amount. However, the bank said in its prospectus it had the option to retain up to 100 billion rupees if subscriptions from retail investors were more.

The bank, which along with its associates controls about a quarter of all loans in India, is raising the money to meet its assets growth. Demand for loans in India expanded 23.9 percent on year as of Feb. 11.

Retail investors put in bids for 45.72 billion rupees, compared with the minimum 5 billion rupees offered, said the sources who could not be identified as they were not authorised to speak to media.

For rich, or high net worth, individuals, the subscription was 5.08 billion rupees and for qualified institutional buyers it was 35.01 billion rupees, compared with the minimum offer of 2.5 billion rupees each, they said.

"These are provisional figures as there are some more applications left," said one source.

Dear Sreedhar,

Referring to your comment
"Dear Gane & Kenshah,
Hope you have made good profit shorting the two stocks which I have given.Market is at such great heights but the stocks are down."

Don't get me wrong, I respect you and appreciate your efforts but I don't get the point of posting this here.
Apparently these people used some other medium to solicit your reco, why are you then asking them here about their experience from those calls?
Is it becos even if you did not post your reco here, you certainly dont want to miss out on the larger audience when you self-boast?
I think am surely missing the point so would need your help.

Again, pardon my ignorance. All due respect to you and your service!

Thanks n regards!

Dear Natarajan,
Yes 1 time subscribed Issues are seeing lot of greymarket activities.Acropetal Looks like another Ravi

It seems there is strong gray market activity in this counter. Anybody having any idea?

Gem/Ravi Banglore,
Do u guys have any target to short ONGC as the news about it's FPO is that it's coming in March.

Paras Dyes and Chemicals India provides quality based chemical supply to industries and other users.

if the fiscal deficit will be just 4.6% and if the inflation will come into control, then the new bonds should list at significant premium...
what say others?

Sreedhar,

SBICAPSEC did not allow me to do short-sell. So I cannot enter into that counters. They allow futures shorting but not the stocks in cash segment.

Thanks a lot for the info.

Gane.

Sreedhar,
Please share your recommendations with all of us....it would be of immense help for all of us.

Dear Gane & Kenshah,
Hope you have made good profit shorting the two stocks which I have given.Market is at such great heights but the stocks are down.

he State Bank of India retail bond issue mopped up Rs 8,200 crore by Friday-end, two days ahead of closure today.

SBI hopes to raise Rs 10,000 crore through the bond issue, with Rs 9,000 crore from retail investors. The high networth individuals (HNI)/institution portion of Rs 1,000 crore (including green-shoe option) is already over-subscribed.

On the first day itself, it managed to raise Rs 6,500 crore with retail investors investing Rs 3,200 crore.

“Despite the bond having no tax-free status like some of the other infrastructure bonds in the market, our issue has got very good response from investors because of the perceived safety of investing into the bonds,” said a senior SBI official.

Collections out of these bond issues will also help SBI stay away from taking bulk deposits or raising certificates of deposits where the rates had shot up to 10 per cent for one year cash deposits (CD).

Bulk deposit form only a small portion of the total deposit base of the bank at Rs 87431 crore. The low cost current account and savings account (Casa) was the chunk of its deposit base at Rs 3,93,791 crore end of the third quarter ended December 31, 2010 and retail term deposits formed Rs 3,36,285 crore during the same period.

SBI has an option of raising about Rs 10,000 crore from the retail bond issue where Rs 9,000 crore is reserved for retail investors and the remaining portion is for HNI and the institutional investors. Th­ose investors who invest up to Rs 5,00,000 are considered as retail investors and HNI are those investing over Rs 250 crore.

There are two series on bonds. One is the 15 year bonds with a coupon rate of 9.95 per cent and the other is a ten year bond issue with a coupon rate of 9.75 per cent for retail investors.

It does not have a put option but the bank can exercise a call option after 5 years in the 10 year bond and after ten years in the 15 year bonds. The returns earned are also taxable.

SBI chairman OP Bhatt wants to launch a retail bond issue every quarter so that the appetite for these bonds increases and there is active trading of the bonds once they are listed. It also helps the bank in garnering long term resources considering that it is largest infrastructure financier in the county.

i had been applied in sbi bond on first day but still in my account not debited any amount.. can u tell me why??? as its first come forst base....

shreedherji what u feel hike in excise duty in auto sector

Today is the D Day for SBI bonds yield.Budget fiscal deficit announcement & FM selection of growth or Inflation control will decide how the SBI bonds will fare after listing.

SBI BONDS
PL LET ME KNOW THAT CAN HNI AND FINANCAL INSTITUDE , QIB , CAN BUY SBI BONDS FROM OPEN MARKET ,THOSE WHO ARE NOT HAVING PROPER IDEA DONOT WRITE , AS SBI HAS DIFFRENT RATES FOR HNI , QIB AND FINANCIAL INSTITUDE ,IE LOWER RATES THAN 9.95% OR LOWER FOR 9.75% FOR SERIES 3 AND 4 , IN THAT CASE LAKE SHARE FI ,QIB , HNI CANNOT PURCHASE BONDS THEN WHICH RETAIL INVESTOR IS GOING TO PURCHASE BONDS FROM OPEN MARKETAS MOST OF THEM HAVE APPLIED , TO GIVE PREMIUM OF RS 5500 ON ONE LAKH APPPLICATION
IF THERE IS NOTING IN THE BUGET FOR EEE TAX THEN PREMIUM TO GO DOWN

Gem,

Is that really ur message? I could not read those properly. Its like some spaming going on using ur id.

Gane.

s b i
bond premium
Rs.5,500 for one lac

setuji why dont u come on chitorgarh.we miss u so much.please give comments one time a week if u busy with ur work .

SBI BONDS
SOME THERE IS CATCH AND HENCE THERE IS DEMAND FOR 15 YEAR SBI BONDS OF 9.955 INTEREST
MARKET HAS GOT THE NEWS OF THE BUGET THAT IN DIRECT TAX CODE PPF WITHDRAWAL IS GOING TO BE TAXED AND HENCE MOST OF PERSONS HAVE WITHDRAWN MAXIMUM MONEY FROM PPF AND INVESTED IN SERIES 1V SBI BONDS WHICH WILL GIVE THEM MAXIMUM RETUNS IF THIS NEWS COMES ON 28 FEB 2011 THEN THERE WILL BE PREMIUM ON LISTING OF RS 550 OTHER WISE YOU WILL GET ONLY RS 200 FOR 10000