India's Speciality Restaurants Ltd has set a price band of 146 rupees to 155 rupees a share for its initial public offering aimed at raising up to 1.82 billion rupees ($33.98 million), the company said in a newspaper advertisement on Monday.
Going by the size of the issue, price is likely to be in the range of Rs. 150-160. Although no peer comparision available, pricing of an ipo at this level looks aggressive with nothing for new investors on the table for a while.
Dilip Davda SEBI registered Research Analyst Mumbai
we want support of all investors and Chittorgarh team.
Subject: A humble request to SEBI and Ministry of finance to change market opening time of NSE/BSE from 9.15 A.M. to 9.55 A.M.
I have been investing in the stock market since more than 15 -20 years. In all these years under SEBI governance the stock markets have undergone drastic positive changes and the trading of shares which was once done through the physical shares on the trading rings on the Exchanges is now available in the demat form on the laptops and mobile phones of the investors. The daily market turnover all the Exchanges has increased many folds in all these years.
But since last two years when the SEBI has changed market opening time from 9.55 A.M. to 9.00 A.M. our stock market has stop giving returns to the investors and infact the markets are giving negative returns.
9 A.M. market opening time is too early in the morning and created many life style issues. In the early morning rush to reach trading terminals no one can go to Gym, Yoga centre, morning walks etc. For the Office staff to reach to office at 8 A.M for the BOD works is a very big problem in metro cities. Due to lack of time in the morning it becomes impossible for the broker and his team to update investors regarding overnight development of sentiment in news flow to help them to take informed decisions.
We stock market people are superstitious and 9 A.M. opening has not been Shubh for us. Therefore correlating Ashubh 9 A.M. market opening time and the lack luster markets as it is now a days it’s my humble request to the governing body SEBI to once again change the market opening time to 9.55 A.M. as it was in good old investor friendly days of market in the years before Jan 2009 so that the Bull markets can be resumed again for the BSE Sensex to head its journey to +30000 levels.
Speciality Restaurants Ltd (SPL) is coming out with an Initial Public Offering. The details are as follows:
SPL is a fine dining operator in India, with 62 restaurants and 11 confectionaries as of December 31, 2010, featuring certain well recognised brands in the Indian restaurant industry. SPL focus’s on providing its guests an affordable fine dining experience with quality food and service in a modern ambience.
Issue Details of Speciality Restaurants Limited IPO.
Issue Opens on May 16, 2012 Issue Closing on May 18, 2012 Price Band Will be announced two working days prior to the issue opens Lot Size Will be announced two working days prior to the issue opens Issue Size 1,17,39,415 Equity Shares of Face value Rs. 10/- each IPO Rating 4/5 by Crisil Listing On BSE & NSE Issue allocation QIB - 50% I HNI - 15% I Retail - 35% Registrar Link Intime India Pvt. Ltd. BRLM Kotak Mahindra Capital Company Ltd. Syndicate Member Kotak Securities Ltd. Incorporation Date The compnay incorporated on December 1, 1999 Retail Application Size Rs. 2,00,000/-
OBJECTS OF THE ISSUE : The Company proposes to utilise the Issue Proceeds, after deducting the underwriting and issue management fees, selling commissions and other expenses associated with the Issue (the ―Net Proceeds‖) for the following objects: 1. Development of new corporate restaurants; 2. Development of a food plaza; 3. Repayment of a term loan facility; and 4. General corporate purposes