Shipping Corporation of India Ltd FPO Message Board (Page 8)

i belive it will not be more that 250 share on 2 lacs application.`

HOW MANY SHARE POSSIBLE ON 2 LACS APPLICATION ?

Hi everybody,

I guess retailers benfit will be limited to Rs. 7-10 per share...looking at the CMP of 145 today. Can somebody tell me about how much I will get on application of 400 shares at cutoff?
amittal6

1400 on full application ..hmm not bad ..provided it stays above 140 till 17

Punjab & Sind bank IPO is to open from 13th Dec

http://www.moneycontrol.com/news/ipo-issues-open/punjabsind-bank-ipo-to-opendec-13_503707.html

Punjab and sind bank coming soon. may be 12/12/10.

Govt. hungry . Govt. giving on 140/-

Shipping Corporation of India Ltd has informed BSE that the Empowered Group of Ministers (EGoM) of the Government of India, in its meeting held on December 06, 2010, has approved the Issue Price of SCI's Follow on Public Offer (FPO) and Government Sale of Shares at Rs.140/- per Share with a discount 5% to the Retail Investors and Employees.

Shipping Corporation of
India MORGAN STANLEY NEUTRAL VIEW DOES IT IMPLIES NO IPO GAIN
F2Q11: In-line Results
Quick comment – we remain EW: SCI’s revenues and
earnings still remain exposed to volatility in freight rates
across asset classes. In addition, SCI has managed
maintenance costs in F1H11 (down 46% YoY); however,
this tends to be volatile and we think it is likely to spike
up in 2H11e, given the age profile of the company’s fleet.
The stock trades at 9.5x F12e EV/EBITDA and 1.1x PB,
in line with its long-term average. We believe that could
further limit upside. In the near term, stock performance
should be driven by news flow around 1) proposed
follow-on-offer; and 2) the company’s intent to acquire a
minority stake in shipyard.
What's new: SCI reported Sep-10 earnings at Rs1.2bn
(adjusted for profit on sale of ships), around 4% ahead of
our estimates. Revenue improved 4% YoY but declined
3% sequentially to Rs8.8bn. Core EBITDA margins were
down 160bps sequentially to 23% (they improved YoY
on a low base), resulting in 10% lower EBITDA at Rs2bn.
This was 5% ahead of our estimate largely because of
lower expenses – maintenance and charter hire. On a
reported basis, earnings were Rs2.5bn, driven by Rs1.3
bn of gains on sale of ships.
Expansion plans: SCI currently has a fleet of 74
vessels with total dead weight tonnage based capacity
of 5.1mnt. The company has around 29 vessels on order
across asset classes, which are likely to be delivered
over the next three years. Management has plans to
double SCI’s capacity over the next 4-5 years at an
estimated capital expenditure of around $4bn. Recently,
management also evinced interest in acquiring a
minority stake in an Indian shipyard, which could lead to
further capex.
Strong balance sheet is a positive: SCI had gross
debt of Rs38bn and net debt of Rs11bn as of September
2010, implying net debt/equity of 0.2x. This should gain
further strength from the proposed equity offer and
would bode well for the expansion plans.

Guys

Sell Shipping corporation. It will go under cutting on day of trading of FPO stock. It does have 8.4 Karod stock in market and another 4.2 karod coming in to trade. defenately selling pressure will take it 130.

GOVT FIXED FPO PRICE AT RS 140/(UPpER LIMIT)

Ajayshare,

On NSE MWPL for 03/12/2010 do not show SCI is in ban period in f&o. SCI is in ban period from 03/12/2010 closing MWPL.

Hence if someone has brought on 3rd dec, will not attract fine.

TO 458. Ravi, Bangalore : this is in f&o curb. crossed limit on
03/12/2010.

417. rakeeblr

As Sreedhar pointed-out elsewhere, you need to check whether it is in F&O curb or not. Usually, good broker will intimate you before you take position.

I have once paid fine (in 2007) & hence, I always make it a point to check F&O curb position as I had lost money.

By defualt traders should check F&O curb as you are responsible for your money.

As informed earlier, I have no poisition in SCI & did not apply for FPO.

417. rakeeblr

You may get around 200 shares per 2 lac application. If you short then you will be over-hedged by -1600 shares (as you have applied for two full applications).

If you short, then you need to buy 1600 shares in cash market. Thus, you may lock certain amount of profit. In that case, considering the amount of investment, you don't make much money.

Your average cost will be:

(400 X 133 + 1600 X 145) / 2000 = 142.60 ~ 142 by adding some costs related to sell transaction.

Considering the amount of money that will get blocked in the two FPO applications, cash market position and futures position, you won't really make much money.

Another option is selling in future & 150 Put (now 8.5), Cash 144.5, Future 143.25. Cover positions above 152. But, this is not complete heding.

When will Shipping Co. will open?

Sold 296 powergrid at 100.1
Thanks all

Rakesh Jhunjhunwala is expected to make a windfall in his four year old investment in engineering, procurement and construction firm A2Z Maintenance & Engineering Services Ltd. Jhunjhunwala along with Beacon and few other promoter group individuals are selling part of their shares in the IPO.

A 2 Z Maintenance & Engg. Services IPO Opens on 8th Dec. 2010
price 400-410
Lot size : 15

A2Z Engg plans Rs 350-cr public issue