ICICI Bank public issue 2.74 times subscribed on day 1

On first day of ICICI Bank's FPO, the issue was 2.74 times subscribed. It received total bids for 27.08 crore shares from total issue size of 9.88 crore shares.

The total bids in the Qualified Institutional Buyers (QIBs) category were 25.70 crore shares. In this caregory, the Foreign Institutional Investors bid for 16.27 crore shares, Domestic Financial Institutions bid for 8.91 crore shares and Mutual Funds bid for 50.96 lakh shares.

The Non Institutional Investors bid for 1.36 crore shares from total 1.40 crore shares assigned for this category.

The retail investors bid for 2.11 lakh shares, of which 1.77 lakh shares were bid at cut off price and 34,836 shares were bid at fixed price.

The issue has price band of Rs 885 to Rs 950 for its offer to mop up Rs 8,750 crore. The issue will close on 22 June 2007.

This is part of the combined offer, wherein the bank would issue American depository receipts (ADRs) to raise an identical amount after getting necessary clearances.

The bank has an option of retaining an additional 15% bid both from the domestic and international market, a move that could take the total issue size to to Rs 20,125 crore.

The minimum bid size will be six equity shares for retail bidders and existing retail shareholders. Bids should be in multiples of six equity shares for all bidders.

Up to 5% of the issue, or Rs 437.5 crore, is reserved for existing retail shareholders of the bank (i.e. shareholders holding up to 108 shares of the bank as of June 13, 2007). The issue has a green shoe option of Rs 1,312.5 crore.

Retail bidders, including existing retail shareholders, will be allotted shares at a discount of Rs 50 per share to the issue price determined through the book-building process.

Under payment method-1, retail bidders are required to pay Rs 250 per share on application, Rs 250 per share on allotment and the balance amount on a call which is to be issued by the bank within a period of six months from the date of allotment, and the discount would be adjusted against the call amount. Under payment method-2, retail bidders are required to pay the full bid amount less the discount, at the time of application.

Non-institutional bidders have the option to pay Rs 250 on application and the balance on allotment. Qualified institutional bidders (QIBs), who have to pay 10% of the bid amount at the time of application, have the option to pay Rs 250 less the margin amount on confirmation of allocation and the balance on allotment.

Non-resident bidders (including FIIs) will require prior approval of the Reserve Bank of India to subscribe to partly paid shares.


Roman Tarmat IPO ends with 29.67 times subscription
Roman Tarmat IPO ended with 29.67 times subscribed. The issue received total bids for 8.60 crore shares from total issue size of 29 lakh shares.

The total bids in the Qualified Institutional Buyers (QIBs) category were 3.84 crore shares. From this category, the Foreign Institutional Investors bid for 2.86 crore shares, Domestic Financial Institutions bid for 73.75 lakh shares and Mutual Funds bid for 20.88 lakh shares.

The Non Institutional Investors bid for 2.60 crore shares, out of 4.20 lakh shares allotted for this category.

The retail individual investors bid for 2.13 crore shares. From this, 2.01 crore shares were bid at cut off price and 11.87 lakh shares were price bids. The employees bid for 75,000 shares.

The IPO had a price band of Rs 150 - 175 per share.

Roman Tarmat is a Mumbai-based infrastructure construction company engaged in the business of highways, runways and other civil work.

The company, established in 1986, provides engineering, procurement and construction services for infrastructure projects sponsored by Government/ Government agencies.

Broadly, the business activities can be categorised into the following three segments: airside works; highways and roads; and other civil work. The company is one of the few construction companies in India operating in the area of construction of runways, which requires a strict focus on quality to ensure safe take off and landing of aircrafts.

Over the years, it has developed the expertise of building runways that adhere to the strict quality standards and has built runways for major civil airports (Mumbai and New Delhi airports) as well as military airports.

The order book comprising un-commenced projects, unfinished and uncertified portions of its commenced projects, as on 30 April 2007, was Rs. 336.89 crore.

The company posted a net profit was Rs 8.50 crore in FY 2006, as compared to Rs. 3.67 crore in FY 2005. Total income of Rs 90.94 crore in FY 2006, as compared to Rs 77.30 crore in FY 2005.

Ankit Metal & Power IPO subscribed 0.20 times on day 2
On second day of Ankit Metal & Power IPO, the issue was 0.20 times subscribed. The IPO received total bids for 19.60 lakh shares from total issue size of 95.90 lakh shares.

Foreign Institutional Investors (FIIs) the only bidders in the Qualified Institutional Buyers (QIBs) category bid for 8.33 lakh shares. There were no bids by Domestic Financial Institutions and Mutual Funds.

Non Institutional Investors bid for 11.10 lakh shares. The retail investors bid for 16,910 shares, of which 8170 share were bid at cut off price and 8740 shares were bid at price.

Kolkatta-based Ankit Metal and Power manufactures sponge Iron, Steel billets and re-rolled products.


Decolight Ceramics settles below IPO price
Decolight Ceramics settled at Rs 44.50 on BSE, a discount of 17.5% over IPO price of Rs 54.

The scrip debuted at Rs 57, and had touched a high of Rs 65.90 in early trades and thereafter touched a low of Rs 43.50.

On BSE, 1.58 crore shares were traded in the scrip.

The current price of Rs 44.50 discounts its FY 2007 (year ended 31 March 2007) EPS of Rs 3 by a PE multiple of 14.83.

Decolight Ceramics IPO ended on 29 May 2007 with 1.53 times subscription. It received total bids for 1.44 crore shares compared to issue size of 94.54 lakh shares.

The total bids in the QIBs category were 12.25 lakh shares-- all from foreign institutional investors (FIIs). There were no bids by domestic financial institutions and mutual funds.

High net investors (HNIs) bid for 29.48 lakh shares. Retail investors bid for 1.02 crore shares, of which 99.07 lakh shares were bid at the cut-off price and 3.58 lakh shares were price bids.

Decolight Ceramics' net profit scaled up 69.7% to Rs 5.55 crore in he year ended March 2007 as against Rs 3.27 crore in FY 2006. Sales moved up 27.3% to Rs 51.10 crore in FY 2007 (Rs 40.13 crore).

Decolight Ceramics manufactures vitrified ceramic tiles. It started with a production capacity of 3,000 square meters per day of vitrified tiles on 1 June 2004. Capacity was enhanced to 6,000 square meters per day in 2005-06. The current installed capacity of vitrified tiles is 12,000 square meters per day.