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IPO Diary

Thursday, July 26, 2007

Zylog Systems IPO ends with 76.51 times subscription

Zylog Systems IPO ended with 76.51 times subscription. The issue received total bids for 27.54 crore shares compared with total issue size of 36 lakh shares.

The qualified institutional bidders (QIBs) bid for 18.80 crore shares as against 21 lakh shares assigned for this category. The foreign institutional investors bid for 8.65 crore shares, the domestic financial institutions bid for 8.07 crore shares and the mutual funds bid for 1.52 crore shares.

The non-institutional investors bid for 5.03 crore shares as against 3.50 lakh shares assigned for this category.

The retail investors bid for 3.68 crore shares, compared with 10.50 lakh shares allotted for this category. Around 3.48 crore shares were bid at cut off price.

The employees bid for 1.10 lakh shares compared with 1 lakh shares assigned for this category.

The IPO had a price band of Rs 330 - 350 a share.

The issue would constitute 21.89% of the fully diluted post issue paid up equity capital of the company.

Zylog Systems is a global IT solutions and services provider delivering technology- driven business solutions. The company intends to utilize the net proceeds of the issue to set up two state of the art offshore development centres (ODCs), to fund acquisitions and strategic investments and to meet the increasing working capital requirement.

At the price band of Rs 330 - Rs 350, the PE mutiples works out to 9.9 - 10.5 times its FY 2007 EPS of Rs 33.2. (on post-issue equity)

The company reported net profit of Rs 54.70 crore on sales of Rs 407.48 crore in the year ended March 2007.



Central Bank of India IPO subscribed 6.48 times on day 2

Central Bank of India IPO was subscribed 6.48 times on second day. It received total bids for 51.86 crore shares as against total issue size of 8 crore shares.

The qualified institutional buyers (QIBs) bid for 47.91 crore shares compared with 4.56 crore shares allotted for this category. In this category, the foreign institutional investors bid for 6.51 crore shares, the domestic financial institutions bid for 35.10 crore shares and mutual funds bid for 6.28 crore shares.

The non institutional investors bid for 2.83 crore shares as against 76 lakh shares allotted for this category.

The retail individual investors bid for 1.06 crore shares compared with 2.28 crore shares assigned for this category. Around 95.94 lakh shares were bid at cut-off price.

The employees bid for 4.78 lakh shares as against 40 lakh shares assigned for this category.

The price band for IPO has been fixed between Rs 85 - Rs 102 a share. The issue will close on 27 July 2007.

Post issue, the shareholding of the Union Government in the bank will come down to 80.20%.

The issue would help raise the bank's capital adequacy ratio by at least one percent from current 10.4%.

The Credit Analysis and Research (CARE) has rated the issue as 'CARE IPO 4', which indicates above the average fundamentals.

The issue proceeds will be utilised to augment the capital base of the bank to meet the future capital requirements and for other general corporate purposes.

Central Bank of India is considered to be the third largest bank in India in terms of the number of branches across 27 States and three Union Territories.

As on 31 March 2007, the bank has a domestic branch network of 3,194 branches comprising 1,341 rural, 759 semi-urban, 575 urban and 519 metropolitan branches.




Omnitech InfoSolutions IPO ends with 61.84 times subscription

The non institutional investors bid over 108 times

Omnitech InfoSolutions IPO ended with 61.84 times subscription. The issue totalled bids for 24.04 crore shares as against total issue size of 38.88 lakh shares.

The qualified institutional bidders (QIBs) bid for 11.40 crore shares, as against 18.47 lakh shares assigned for this category. The foreign institutional investors bid for 5.31 crore shares, the domestic financial institutions bid for 4.85 crore shares and mutual funds bid for 83.90 lakh shares.

The non institutional investors bid for 6.02 crore shares as against 5.54 lakh shares assigned for this category.

The retail investors bid for 6.58 crore shares, compared with 12.93 lakh shares allotted for this category. Around 6.28 crore shares were bid at cut off price.

The company had fixed the price band between at Rs 90 - Rs 105 per share of face value Rs 10 each.

Omnitech offers IT solutions and products such as business availability services, business continuity services, systems integration solutions, framework solutions and products.

The company plans to deploy the IPO proceeds to fund acquisitions and strategic investments, to alternatively set up new technology center, set up overseas offices for business expansion and enhance existing facilities.



IVR Prime Urban Developers IPO subscribed 0.47 times on day 3

On third day of IVR Prime Urban Developers IPO the issue was 0.47 times subscribed, with total bids for 66.62 lakh shares from total issue size of 1.41 crore shares.

The total bids in the qualified institutional buyers (QIBs) category were 63.60 lakh shares, which were only bid by the foreign institutional investors, the domestic financial institutions bid for 20 shares. There were no bids by mutual funds.

The non institutional investors bid for 56,800 shares as against 14 lakh shares allotted for this category.

The retail individual investors bid for 2.45 lakh shares as against 42 lakh shares allotted for this category. About 2.23 lakh shares were bid at cut-off price.

The issue will close on 26 July 2007 and the price band has been fixed at Rs 510 to Rs 600. The company would raise Rs 721 crore at the lower end and Rs 849 crore at the upper end.

IVR Prime is a subsidiary of IVRCL Infrastructures and Projects. The company focusses on integrated townships, residential developments including homes, commercial projects, retail malls, IT parks and other projects in various parts of India including cities of Hyderabad, Visakhapatnam, Chennai, Bangalore, Pune and Noida.

The parent firm, IVRCL holds 80% in IVR Prime and its holding will come down to 62.35% after the IPO.

IVRCL, which is into a whole range of infrastructure projects from power to roads, reported 52.17% in net profit to Rs 141.46 crore in the year ended March 2007 over March 2006. Sales jumped 51.56% to Rs 2305.88 crore in the year ended March 2007 over March 2006.

IVR Prime Urban Developers, is investing Rs 300 crore in setting up a mall and an IT Park at Gachibowli, Hyderabad. The project will be funded through a mix of internal accruals and debt and is estimated to complete in 36 months.

The company has appointed Bentel & Bentel, a South African architect firm, for designing the project, and Old Mutual of South Africa has been appointed for advising on property and lease management. The mall is proposed to have a multiplex, food courts and an entertainment plaza.




SEL Manufacturing Company IPO opens on 26 July 2007

SEL Manufacturing Company's initial public offering (IPO) of 41,38,410 equity shares will open on 26 July 2007.

The issue would be through 100% book-building process. The price band has been fixed at Rs 80 - Rs 90 per share and the offer would close on 31 July 2007.

At the lower end of the price band, the company would raise Rs 33.11 crore and at the upper it will raise Rs 37.25 crore.

The company made a pre IPO placement of 7,60,800 shares to EXIM Bank at Rs 65 per share and another placement of 5 lakh shares to Nirmal Kotecha at Rs 75 per share.

The company is planning to expand capacities in spinning, knitting and garment manufacturing at a total cost of Rs 184.5 crore. It has tied up debt of Rs 103.7 crore under Technology Upgradation Fund Scheme.




Asian Granito India IPO opens on 26 July 2007

Asian Granito India will tap the primary market through an initial public offering (IPO) of 70 lakh shares.

The issue will open on 26 July 2007 and will close on 31 July 2007. The company has fixed the IPO price band between Rs 85 - Rs 102 a share.

Issue will constitute 33.24% of the post issue fully diluted paid-up equity capital of the company.

The company intends to deploy the issue proceeds in setting up of the wall tile unit at an estimated cost of Rs 48.68 crore and a sum of Rs 12.67 crore will be invested in modernisation and expansion of the existing vitrified plant.

Asian Granito India engaged in the business of manufacturing vitrified tiles, started its operations in October 2003 by setting up a new manufacturing unit for vitrified tiles with a capacity of 4,000 square meters per day.

The plant of company is at the Ceramics Zone in Sabarkantha, Gujarat. Presently the company has capacity of 14,000 square metres of vitrified tiles per day. After the said capital expenditure, the company`s capacity is expected to increase to 16,000 square metres of vitrified tiles per day.

Posted by FR at 5:13 AM  

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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.