TD Power IPO subscribed 3 times on QIB support

Manufacturer of AC generator TD Power Systems ' initial public offering has received good response from qualified institutional buyers (QIBs). The Rs 227-crore issue has subscribed nearly three times, as per data available on the National Stock Exchange.The issue has received bids for 2.2 crore equity shares as against issue size of 75.6 lakh shares (excluding anchor book). Maximum bids have seen at lower-end of price band of Rs 256-261 a share, which was on expected lines because the anchor book was subscribed at Rs 256 a share.QIBs helped the issue with their reserved portion being subscribed 6.52 times. Non-institutional and retail investors' portion subscribed 0.38 times each.Manufacturer of AC generator has output capacity...

Dhanlaxmi Bank sells 7.3 lakh shares of Tree House

Tree House Education and Accessories , which made its debut on the bourses yesterday, gave up all its gains in the last half an hour of trade due to profit booking, weak market conditions and offloading of huge exposure by bank.The stock of educational services provider touched an intra-day high of Rs 161.50, before closing down nearly 14% at Rs 116.55 as against issue price of Rs 135 a share. Intra-day low hit by the stock was Rs 104.15.Issue price for the qualified institutional buyers and non-institutional investors was fixed at Rs 135 a share and Rs 129 (discount of Rs 6 to issue price) a share for retail investors.More than 3.5 crore equity shares changed hands in total 61 bulk deals at average price of Rs 140.14/share yesterday.Dhanlaxmi...

SRS Limited IPO Subscription Detail Day 3

The initial public offer (IPO) of SRS Ltd , a company into cinema exhibition, food and retail, was subscribed 0.74 times on the third day of the issue today. The company's IPO received bids worth 2.57 crore shares till 1700 hours on the third day, as against 3.5 crore shares on offer, as per the data available on the National Stock Exchange.SRS entered the capital markets with an IPO price band of Rs 58-65 per equity share. The issue, which opened for subscription on August 23, will close tomorrow.The company aims to raise Rs 225 crore.The proceeds from the public issue will be utilised to set up cinemas, food courts, restaurants, retail stores, (and a) jewellery manufacturing facility.At present, the firm operates 23 SRS Value Bazaar retail...

TD Power IPO subscribed 0.88 times on second day of issue

The initial public offer (IPO) of TD Power Systems was subscribed 0.88 times on the second day of the issue today.The company's IPO received bids worth 66.85 lakh equity shares till 1700 hrs, as against 75.62 lakh shares on offer, as per the data available on the National Stock Exchange.The company entered the capital market with an IPO price band of Rs 256-Rs 261 per equity share of Rs 10 each.The issue, which opened for subscription yesterday, will close tomorrow.Air-conditioner generator manufacturer TD Power Systems aims to raise around Rs 227 crore through IPO for expansion and debt repayment.The company proposes to utilise the proceeds of the issue mainly to finance the expansion of the existing manufacturing plant in Dabaspet, Bangalore...

Tree House to list on August 26

Tree House Education and Accessories , an educational services provider, is going to list its shares on the exchanges on August 26, 2011.The company has fixed its issue price of Rs 135 per share. QIB and HNI received shares at Rs 135 per share while retail category received at Rs 129 per share (Discount of Rs 6 to issue price).Tree House mopped up Rs 112.06 crore via IPO of 84,32,189 equity shares. The issue was opened for subscription during August 10-12, 2011.Tree House operates the largest number of self-operated pre-schools in India. (Source: CRISIL Report - December 2010). As of June 15, 2011, it has 223 pre-schools under the brand name of “Tree House” across 33 cities (as per municipal limits) in India; out of which 149 are operated...

SRS IPO subscribed 0.54 times on day two

The initial public offering of Faridabad-based SRS Ltd. has subscribed 0.54 times on the second day of the issue.The issue has received bids for more than 1.76 crore equity shares, compared to the issue size of 3.50 crore equity shares at 15.00 hrs IST on August 24, as per NSE website. The issue price band is fixed at Rs.58-65 apiece. The issue, which constitutes 25.13 percent of the post-issue share capital, will close for subscription on August 26, 2011. The company plans to raise Rs.227.50 crore through the issue at higher end of price band. It plans to utilize the IPO proceeds to expand all its four verticals, namely, cinema, food courts, retail stores and jewellery stores. Besides, an amount of Rs.101 crore would be invested for expansion...

TD Power Systems Ltd IPO (TD Power IPO) Detail

Incorporated in 1999, Bangalore based TD Power Systems Ltd is one of the leading manufacturers of AC Generators with output capacity in the range of 1 MW to 52 MW for prime movers such as steam turbines, gas turbines, hydro turbines, wind turbines, diesel and gas engines. Along with AC Generators Company also executes Turbine Generator ("TG") island projects for steam turbine power plants with output capacity up to 52 MW using a Japanese turbine combined with their generator. Company is ISO 9001-2008 certified.Company's customer base includes cement, steel, paper, chemical, metals, sugar co-generation, bio-mass power plants, hydro-electric power plants and Independent Power Plants ("IPPs") companies. Some of their customers include Shree Cements...