verdana INDIAN STOCK MARKET: August 2011

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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...

TD Power Systems gets Rs 33.4 cr from anchor investors

TD Power Systems has received commitment of Rs 33.4 crore from anchor investors today - one day before the issue opens for subscription.Anchor investors are Baring India Private Equity Fund, IDFC Premier Equity Fund, Ironwood Investment Holdings, Smallcap World Fund and American Fund Insurance Series Global Small Capitalisation Fund. They have subscribed for 13,04,550 equity shares at lower end of price band of Rs 256-261 a share.The Rs 227 crore IPO of manufacturer of AC Generators with output capacity in the range of 1 MW to 52 MW will open for subscription during August 24-26, 2011.The company proposes to utilize the net proceeds of the issue mainly to finance the expansion of the existing manufacturing plant in Dabaspet, Bangalore...

SRS IPO subscribed 0.25 times on day one

The initial public offer of SRS Ltd, a company into cinema exhibition, food and retail, was subscribed 0.25 times on the first day of issue today.The company's IPO received bids worth 88.68 lakh shares till 1600 hrs on the first 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 today, will close on August ...

TD Power Systems to raise Rs 227 cr via IPO

  TD Power Systems, one of the leading manufacturers of AC Generators with output capacity in the range of 1 MW to 52 MW, proposes to enter the capital markets on August 24, 2011 with a public issue of equity shares through 100% book building process.The price band has been fixed at Rs 256-261 per equity share of Rs 10 each.Credit Analysis & Research (CARE) has assigned grade 4/5 to the issue indicating above average fundamentals.Enam Securities Pvt Ltd is the global co-ordinator and book running lead manager for the issue.Antique Capital Markets Pvt Ltd and Equirus Capital Pvt Ltd are the book running lead managers for the issue. Link Intime India Pvt Ltd is the registrar to the issue.The issue closes on August 26, 2011...

Gold strikes record as macro unease jolts markets

Gold rallied to its second record high in a week on Thursday, driven by growing investor unease over the outlook for the US economy after data showed an unwelcome pickup in inflation, and over the lack of resolution to the European debt crisis.Asset such as stocks, corporate bonds, industrial commodities and higher-yielding currencies slid after investors lost more appetite for risk, to the benefit of gold, government bonds and the dollar itself, which many resort to in times of extreme market nervousness.Although gold remains off its inflation-adjusted peak above USD 2,000 struck in 1980, it is one of the top performing assets this year, up by over 25% versus a 15% loss in US blue-chip stocks or a 7.7% decline in the price of copper.So far...

CRISIL assigns grade 1/5 to Modern Tube Ind IPO

CRISIL Research has assigned a grade of 1/5 to the proposed initial public offer (IPO) of Modern Tube Industries, which indicates that the fundamentals of the IPO are ‘poor’ relative to other listed equity securities in India, according to its research report dated August 18.Vadodara-based Modern Tube manufactures stainless steel seamless and welded tubes, u-tubes and pipes. Its manufacturing facility - spread across 6 acres - is located near the GIDC Port (Gujarat). Although currently it has a capacity of 7,200 metric tonnes per annum (MTPA), up from its initial capacity of 180 MTPA in 2006, it continues to be largely a trading company.The report says, "The assigned grade takes into account Modern Tube’s weak position in the seamless and...

Brooks Laboratories IPO subscribed 1.6 times on final day

The initial public offering of Brooks Laboratories , a pharmaceutical contract research and manufacturing services company, has subscribed 1.6 times led by support from non-institutional and retail investors.The issue has received bids for more than 1.1 crore equity shares as against approximate issue size of 70-63 lakh equity shares at issue price band of Rs 90-100 a share.Reserved portion of retail investors subscribed 3.36 times, with receiving bids for more than 82 lakh shares as against reserved portion of 24.5 lakh shares. Non-institutional investors' reserved portion subscribed 2.82 times.The Rs 63-crore issue was opened for subscription during the August 16-18, 2011.Brooks plans to set up a new manufacturing unit at JB SEZ...

Nifty hits 15-month low, ends below 5K on global turmoil

After a few days of relative calm, Indian equity benchmarks closed with enormous cuts, with the NSE Nifty closing at below 5000 for the first-time since June 2010. It was a complete free-fall on Dalal Street on Wednesday, spooked by fears of stammering recovery in the European and US economies after debt crisis.The 50-share NSE Nifty touched new 52-week intra-day low of 4,932.15, before closing down 112 points at 4,944. The 30-share BSE Sensex fell 371 points, to end at 16,469.79.On the global front, European markets like France's CAC, Germany's DAX, Britain's FTSE were down 2-3.5%. The Dow Jones futures tumbled 173 points. Major Asian markets like Hang Seng, Shanghai and...

Brooks Laboratories Ltd subscribed 0.26 times on Day 2

Brooks Laboratories Ltd ,which had opened for subscription yesterday,has failed to interest the investors at large with the IPO getting subscribed 26% till second day of opening.The IPO  not receive any subscription in the QIB category. The response of the other category also lessthan  1 time till now. The IPO would close subscription tomorrow on August 18, 2...

ONGC FPO likely to hit market on Sept 20

The wait has been rather long but may see light of the day soon . Finally follow-on-offer (FPO) of state-run ONGC is likely to hit the market on September 20.The FPO has been jammed in a roadblock due to government's ad-hoc subsidy sharing mechanism. However, subsidy sharing mechanism is likely to be put in place before the FPO, sources add.Earlier, there were media reports that ONGC is considering to may file papers for a Rs 12,000 crore share sale by early next month. The government plans to sell 5% of 427.77 million shares through the FPO. The FPO was originally planned for 2010-11 fiscal but was deferred to April 5 as the company did not have adequate number of independent directors on its board to meet the SEBI's listing...

Tree House Education fixes issue price at Rs 135/share

Tree House Education and Accessories , an educational service provider has fixed its issue price at the lower end of band of Rs 135-153 a share.The company has raised Rs 112.06 crore through the issue of 84.32 lakh equity shares, by diluting 25.01% stake.It intends to utilise the proceeds for expansion of pre-school business; acquisition of office space, procurement of exclusivity rights to provide educational services and construction of infrastructure for educational complexes in Rajasthan and Gujarat; and repayment of loan.IPO, which was opened for subscription between August 10-12, was subscribed 1.85 times. There will be a special discount of Rs. 6/- per equity share for retail investors, who will get consequently share...

SRS sets IPO price band at Rs 58-65/share

SRS  has fixed its issue price at Rs 58-65 a share for its initial public offering (IPO) of 3.5 crore equity shares. It is a diversified company having businesses like cinema exhibition, food and beverages, retail and manufacturing and jewellery retail.The issue, which constitutes 25.13% of the post-issue share capital, will open for subscription between August 23-26, 2011.The company aims to raise Rs 227.5 crore through the issue at higher end of price band. It intends to use these proceeds for setting up cinemas, food courts and restaurants, retail stores and jewellery manufacturing facility.The company reported a rise of more than 56% in its total income for FY11 to Rs 2,077.71 crore as compared to previous financial...

Brooks Laboratories IPO Subscription Detail Day 1

Brooks Laboratories Ltd is in the business of Pharmaceutical Contract Research & Manufacturing. Company manufactures wide range of products catering to critical care segment in Parental Section like Beta Lactam, Cephalosporin & General Dry powder Injectables, Ampoules and Liquid vials, Dry Syrups and Tablets etc.Brooks Labs has manufacturing unit at Baddi, Himachal Pradesh. Company has a world class team to develop new molecules in injectables and clavulanic acid based products supported by sophisticated infrastructure for Research & Development. Brooks Labs is WHO-GMP and ISO 9000-2008 certified compan...

ONGC may file RHP for FPO by early next month

State-owned Oil and Natural Gas Corp ( ONGC ) may file papers for a Rs 12,000 crore share sale by early next month, a senior company official said today."We have been asked (by the government) to be prepared for the follow-on public offer (FPO). The company board is meeting on August 29 to approve the consolidated accounts. Thereafter the red herring prospectus (RHP) will be filed with (market regulator) SEBI," he said.The RHP for the FPO may be filed by early next month, he added.The board on August 29 will approve the RHP which will incorporate financial results for the April-June quarter.The government plans to sell 5% of 427.77 million shares through the FPO which at today's trading price of Rs 280 a piece will fetch over Rs...

Tree House Education IPO subscribed 1.85 times final day

Educational services provider Tree House Education and Accessories has received mild response to its initial public offering. The issue, which closed today, has seen bids for more than 1.32 crore equity shares as against issue size of 71.67 lakh shares (excluding anchor investors' portion).IPO has subscribed 1.85 times, with receiving major bids at lower end of price band of Rs 135-153 a share, as per data available on National Stock Exchange.Maximum bids at Rs 135 a share was on expected lines and it seemed that the company may fix the issue price at same level. Even anchor investors' portion had subscribed at the same price; they had bids for more than Rs 17 crore worth of shares.Participation has seen from all investors namely...

Brooks Laboratories Rs 63cr IPO opens today

The Rs 63 crore initial public offering of pharmaceutical company Brooks Laboratories has opened for subscription today. The company has fixed the price band at Rs 90-100 a share.Brooks Laboratories is a pharmaceutical contract research & manufacturing (CMO) services company. It has a wide range of products catering to the critical care segment in parental sections like Beta Lactam, Cephalosporin & general dry powder injectables, Ampoules and liquid vials, dry syrups and tablets etc.Its product portfolio comprises of 28 injectables, 19 tablets and 2 dry syrups which are marketed domestically. Brooks plans to set up a new manufacturing unit at JB SEZ Pvt Ltd, Panoli, Gujarat for manufacturing various pharmaceuticals...

Tree House Education & Accessories Ltd IPO Subscription Detail Day2

Issue Subscription Detail / Current Bidding Status Number of Times Issue is Subscribed (BSE + NSE) As on Date & TimeQualified Institutional Buyers (QIBs)Non Institutional Investors (NIIs)Retail Individual Investors (RIIs)Total Shares Offered / Reserved 2,951,267  1,264,828  2,951,266  7,167,361   Day 1 - Aug 10, 2011 17:00 IST 0.5000 0.0600 0.5400 0.4400   Day 2 - Aug 11, 2011 17:00 IST 0.5000 0.0900 1.1200 0.680...

L&T Finance Holdings slips below issue price

Shares of L&T Finance Holdings , a subsidiary of engineering and construction company Larsen and Toubro , debuted below the issue price of Rs 52 a share on Day 1.At 9:48 hours IST, the stock was trading at Rs 51.35, down 1.25%. It has touched a high of Rs 53.85, which was the opening price and low of Rs 49.30 a share.Traded volume on the National Stock Exchange was more than three crore equity shares.CMD of L&T, AM Naik said L&T Finance's contribution in the entire group would go up to 30% from 10% in future.L&T Finance received Rs 1,245 crore through the issue. Parent company L&T's stake in the company reduced to 83% post issue.Company intends to use issue proceeds for augmenting the capital base of...

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