NewsOn today, Designer and manufacturer of vehicle bodies, Commercial Engineers and Body Builders initial public offering has opened for subscription. The price band has fixed at Rs 125-127 a share.
The issue consists of a fresh issue of Rs 1.53 billion and an offer for sale of 1.53 billion shares by New York Life Investment Management India Fund II LLC and Commercial Automobiles Private Limited, which is more than Rs 190 million. On Oct. 5, 2010, The issues wpould be closed.
The proceeds from the issue will be used for capital expenditure for the railway project; prepayment of identified loan facilities and general corporate purposes.
IPO News
Brokers` outlooks on Commercial Engineers IPO
On listing, Indosolar trades at 10.68% discount
On Today, Equity shares of Indosolar, a manufacturer of poly-crystalline solar photo-voltaic cells, got listed on the bourses.
The shares of the company listed at Rs 29.50, a trivial premium of 1.72% beside the issue price of Rs 29. Shares of the company have touched a sky-scraping of Rs 29.50 and a lowdown of Rs 25.10.
Shares are presently trading at Rs 25.90, a discount of 10.68% beside the issue price.
At 9:10 a.m, a total of 11.99 million shares have exchanged hands.
The issue was unlocked for subscription during September 13-15, 2010 period and was subscribed 1.55 times.
The proceeds of the issue are planned to be used for the expansion of annual manufacturing capacity for SPV cells by adding a third line of 100 MW.
Indosolar to register tomorrow
On Wednesday, Equity shares of Indosolar, a manufacturer of poly-crystalline solar photo-voltaic cells, will list, September 29. The issue price has been put at Rs 29 at the lower end of the price band of Rs 29-32 for each equity share.
The issue was opened for subscription during September 13-15, 2010 period and was subscribed 1.55 times.
The proceeds of the issue are projected to be used for the expansion of annual manufacturing capacity for SPV cells by adding a third line of 100 MW.
VA Tech Wabag IPO subscribes more than 36 times on close
Initial public offering of VA Tech Wabag, a multinational player in the water treatment industry, has been subscribed 36.22 times on close. A total of 113.30 million bids were acquired out of which 9.99 million bids were attained at a cut-off price. The issue was open for subscription from Sept. 22, 2010 to Sept. 27 2010.
Non Institutional Investors subscribed 100.98 times the issue. In the intervening time, retail individual investors and Non institutional investors subscribed 8.55 times and 36.13 times. The price band of the issue was fixed at Rs 1,230 - Rs 1,310.
Emkay: Subscribe` Ashoka Buildcon IPO
Emkay Global Financial Services has suggested `Subscribe` on initial public offering
of Ashoka Buildcon, which builds and operates roads and bridges in India on a build, operate and transfer basis.
The following rationale has been provided by it:
Portfolio of 17 projects covering 3,400 lane kms makes Ashoka Buildcon, India`s premier BOT developer.
NHAI expects to award 18,000 kms over FY11-12 - expect Ashoka with significant track record to be surrounded by the primary beneficiary
Lucrative BOT portfolio leading to re-leveraging of B/S 15 out of 20 had got re-leveraged. B/S can be further leveraged by Rs 3.5 billion, providing dilution free growth.
The issue which opened on Sep.23, 2010 will close on Sep.28, 2010. As on Sep.27, 2010 12:00 p.m, the issue has been subscribed 1.04 times. A total of 6.49 million bids were acquired out of which 259,800 bids were acquired at a stop price.
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