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IPO Diary
Monday, July 2, 2007
Allied Digital Services IPO susbscribed 0.01 times on first day
On the first day of Allied Digital Services IPO, the issue was 0.01 times subscribed. It received total bids for 46,690 shares from total issue size of 45.22 lakh shares.
There were no bids in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors bid for 21,525 shares.
Retail investors bid for 25,165 shares, of which 22,610 shares were bid at cut off price and 2555 shares were bid at price.
The IPO is priced between Rs 170 - 190 and will close on 5 July 2007.
The company plans to use the funds for expansion, and acquisitions.
Allied Digital had reported a net profit of Rs 22.93 crore on revenue of Rs 156 crore in the year ended March 2007. The company's order book stands at Rs.107.81 crore as on 12 June 2007 of which Rs 54.70 crore belongs to services segment and Rs 53.11 crore to solutions segment.
Allied Digital operates in diversified segments both in Solutions viz. IT solutions, Networking and Communication solutions, Integrated solutions and Software solutions and in Services viz. IT Infrastructure Management Services, T-BPO and Remote Management Services to its customers pan India.
Housing Development and Infrastructure subscribed 1.41 times on day 3
On the third day of Housing Development and Infrastructure (HDIL) IPO, the issue was 1.41 times subscribed. It received total bids for 4.17 crore shares from the total issue size of 2.97 crore equity shares.
The total bids in the Qualified Institutional Buyers (QIBs) category were 3.91 crore shares. In this category, the Domestic Financial Institutions bid for 1.01 crore shares and Mutual Funds bid for 22.89 lakh shares. The Foreign Institutional Investors bid for 2.57 crore shares.
The Non Institutional Investors bid for 13.75 lakh shares. The Retail investors bid for 12.22 lakh shares, of which 11.17 lakh shares were bid at cut off price and 1.05 lakh shares were bid at price. The employees bid for 14,434 shares.
The issue, having price band between Rs 430 - 500 per share, will close on 3 July 2007.
Housing Development and Infrastructure is a real estate development company in India, with significant operations in the Mumbai metropolitan region.
HDIL focuses on real estate development, including construction and development of residential projects and, more recently, commercial and retail projects, slum rehabilitation and development, including clearing slum land and rehousing slum dwellers, and land development, including development of infrastructure on land which the company then sells to other property developers.
HDIL has an integrated in-house development team which covers all aspects of property development from project identification and inception through construction to completion and sale.
HDIL has around 45.5 million square feet (sq. ft.) under construction and an additional 66.6 million sq. ft. in various stages of planning. Much of this developable area has come from the firm's slum rehabilitation activities, under which a builder gets to build additional space in return for the free housing given to slum dwellers.
The firm has undertaken nearly 40% of the slum rehabilitation projects in Mumbai city.
HDIL's land bank of 2,500 acres spread across Mumbai, Kochi and Hyderabad has been valued at Rs 21,500 crore. The valuation was done by real estate consulting firms Knight Frank India and Cushman Wakefield India.
HDIL has development rights to nearly one million sq. ft in Mumbai's Bandra Kurla complex, in lieu of the slum clearance work it undertook in the area. HDIL had sold part of this space to Gujarat's Adani Group in May 2006 at Rs 2,250 crore, making this India's biggest land deal.
HDIL plans to enter the hospitality space through a joint venture for a seven-star hotel on Mumbai's Juhu beach.
Currently, 50.7% of HDIL's business comes from infrastructure development business, while the residential complexes segment contributes 18.4% and commercial business 5.9%, with 4% coming from the retail segment. Slum re-development activities account for the rest.
Bharat Earth Movers FPO subscribed 3.23 times on day 4
On the fourth day of Bharat Earth Movers FPO, the issue was 3.23 times subscribed. It received total bids for 1.58 crore shares from the total issue size of 49 lakh shares.
The total bids in the Qualified Institutional Buyers (QIBs) category were 1.52 crore shares. In this category, the Domestic Financial Institutions bid for 65.90 lakh shares and Mutual Funds bid for 33.89 lakh shares. The Foreign Institutional Investors bid for 53.08 lakh shares.
The Non Institutional Investors bid for 20,785 shares. The Retail investors bid for 5.41 lakh shares, of which 4.95 lakh shares were bid at cut off price and 46,270 shares were bid at price.
The FPO has a price band of Rs 1020 - 1090 per share and will close on 3 July 2007.
The issue would constitute 11.77% of the fully diluted post issue paid-up capital of BEML.
At the top end of the price band of Rs 1090, PE multiple works out to 22.15, based on its year ended March 2007 EPS of 49.20 on post FPO equity of Rs 41.65 crore.
BEML's net profit rose 8.58% to Rs 93.51 crore in the Q4 March 2007 (Rs 86.12 crore). Sales moved up 16.60% to Rs 938.42 crore in the Q4 March 2007 (Rs 804.80 crore).
The net profit summed 9.63% to Rs 204.93 crore in the year ended March 2007 (Rs 186.93 crore). Sales scaled up 17.69% to Rs 2423.87 crore in FY 2007 (Rs 2059.54 crore).
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70% market share in domestic industry. The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
On the first day of Allied Digital Services IPO, the issue was 0.01 times subscribed. It received total bids for 46,690 shares from total issue size of 45.22 lakh shares.
There were no bids in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors bid for 21,525 shares.
Retail investors bid for 25,165 shares, of which 22,610 shares were bid at cut off price and 2555 shares were bid at price.
The IPO is priced between Rs 170 - 190 and will close on 5 July 2007.
The company plans to use the funds for expansion, and acquisitions.
Allied Digital had reported a net profit of Rs 22.93 crore on revenue of Rs 156 crore in the year ended March 2007. The company's order book stands at Rs.107.81 crore as on 12 June 2007 of which Rs 54.70 crore belongs to services segment and Rs 53.11 crore to solutions segment.
Allied Digital operates in diversified segments both in Solutions viz. IT solutions, Networking and Communication solutions, Integrated solutions and Software solutions and in Services viz. IT Infrastructure Management Services, T-BPO and Remote Management Services to its customers pan India.
Housing Development and Infrastructure subscribed 1.41 times on day 3
On the third day of Housing Development and Infrastructure (HDIL) IPO, the issue was 1.41 times subscribed. It received total bids for 4.17 crore shares from the total issue size of 2.97 crore equity shares.
The total bids in the Qualified Institutional Buyers (QIBs) category were 3.91 crore shares. In this category, the Domestic Financial Institutions bid for 1.01 crore shares and Mutual Funds bid for 22.89 lakh shares. The Foreign Institutional Investors bid for 2.57 crore shares.
The Non Institutional Investors bid for 13.75 lakh shares. The Retail investors bid for 12.22 lakh shares, of which 11.17 lakh shares were bid at cut off price and 1.05 lakh shares were bid at price. The employees bid for 14,434 shares.
The issue, having price band between Rs 430 - 500 per share, will close on 3 July 2007.
Housing Development and Infrastructure is a real estate development company in India, with significant operations in the Mumbai metropolitan region.
HDIL focuses on real estate development, including construction and development of residential projects and, more recently, commercial and retail projects, slum rehabilitation and development, including clearing slum land and rehousing slum dwellers, and land development, including development of infrastructure on land which the company then sells to other property developers.
HDIL has an integrated in-house development team which covers all aspects of property development from project identification and inception through construction to completion and sale.
HDIL has around 45.5 million square feet (sq. ft.) under construction and an additional 66.6 million sq. ft. in various stages of planning. Much of this developable area has come from the firm's slum rehabilitation activities, under which a builder gets to build additional space in return for the free housing given to slum dwellers.
The firm has undertaken nearly 40% of the slum rehabilitation projects in Mumbai city.
HDIL's land bank of 2,500 acres spread across Mumbai, Kochi and Hyderabad has been valued at Rs 21,500 crore. The valuation was done by real estate consulting firms Knight Frank India and Cushman Wakefield India.
HDIL has development rights to nearly one million sq. ft in Mumbai's Bandra Kurla complex, in lieu of the slum clearance work it undertook in the area. HDIL had sold part of this space to Gujarat's Adani Group in May 2006 at Rs 2,250 crore, making this India's biggest land deal.
HDIL plans to enter the hospitality space through a joint venture for a seven-star hotel on Mumbai's Juhu beach.
Currently, 50.7% of HDIL's business comes from infrastructure development business, while the residential complexes segment contributes 18.4% and commercial business 5.9%, with 4% coming from the retail segment. Slum re-development activities account for the rest.
Bharat Earth Movers FPO subscribed 3.23 times on day 4
On the fourth day of Bharat Earth Movers FPO, the issue was 3.23 times subscribed. It received total bids for 1.58 crore shares from the total issue size of 49 lakh shares.
The total bids in the Qualified Institutional Buyers (QIBs) category were 1.52 crore shares. In this category, the Domestic Financial Institutions bid for 65.90 lakh shares and Mutual Funds bid for 33.89 lakh shares. The Foreign Institutional Investors bid for 53.08 lakh shares.
The Non Institutional Investors bid for 20,785 shares. The Retail investors bid for 5.41 lakh shares, of which 4.95 lakh shares were bid at cut off price and 46,270 shares were bid at price.
The FPO has a price band of Rs 1020 - 1090 per share and will close on 3 July 2007.
The issue would constitute 11.77% of the fully diluted post issue paid-up capital of BEML.
At the top end of the price band of Rs 1090, PE multiple works out to 22.15, based on its year ended March 2007 EPS of 49.20 on post FPO equity of Rs 41.65 crore.
BEML's net profit rose 8.58% to Rs 93.51 crore in the Q4 March 2007 (Rs 86.12 crore). Sales moved up 16.60% to Rs 938.42 crore in the Q4 March 2007 (Rs 804.80 crore).
The net profit summed 9.63% to Rs 204.93 crore in the year ended March 2007 (Rs 186.93 crore). Sales scaled up 17.69% to Rs 2423.87 crore in FY 2007 (Rs 2059.54 crore).
BEML is the second largest manufacturer of earthmoving equipments in Asia, and commands 70% market share in domestic industry. The ministry of defence is BEML’s largest customer. The company’s other customers are Indian Railways, Delhi Metro Rail Corporation and other metro rail transit agencies.
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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.
