Alpa Laboratories IPO subscribed 0.37 times on day 2

On second day of Alpa Laboratories IPO, the issue was 0.37 times subscribed. The issue received total bids for 35.20 lakh shares as against total issue size of 95 lakh shares.

On previous day (12 July 2007), FIIs put in bids for 20 lakh shares compared to a total of 46.25 lakh shares reserved to qualified institutional bidders category as a whole.

The price band for the issue has been fixed at Rs 62 - 68 a share and will close on 17 July 2007.

At the higher band of Rs 68, the PE is 22.7 based on FY 2007 EPS of Rs 3 on post-issue equity of Rs 21.56 crore. At the lower band of Rs 62, the PE works out to 20.7.

The company intends to deploy the issue proceeds to part-finance the setting up of a new plant in Madhya Pradesh. The plant is being set up at a cost of Rs 70.88 crore.

The company also plans to widen product range by foraying into probiotics, prebiotics and pre-filled syringes. It will also expand contract manufacturing activities to include large multinational companies.

The expansion project will be financed through a term loan of Rs 20 crore, promoters’ contribution of Rs 3 crore and balance from the IPO.




Simplex Projects IPO ends with 82.78 times subscription

Simplex Projects IPO ended with 82.78 times subscription. The issue received total bids for 24.83 crore shares compared with total issue size of 30 lakh shares. (17:00 IST)

On previous day (12 July 2007), FIIs put in bids for 1.43 crore shares compared to 15 lakh shares reserve to qualified institutional bidders category as a whole. Retail investors put in bids for 33.54 lakh shares compared to 10.5 lakh shares reserved to this category.

The Kolkata-based firm had set a price band between Rs 170 - 185 a share.

At the offer price band of Rs 170-Rs 185, the PE range on the basis of standalone FY 2007 EPS of Rs 8.70, works out to 19.5 to 21.3

The funds would be used for long-term working capital and to acquire plant and machinery.

Simplex posted a net profit of Rs 10.49 crore for the year ended March 2007, on sales of Rs 135.76 crore.

Simplex specialises in piling and foundation, civil construction and transportation engineering projects.





Central Bank of India IPO opens on 24 July 2007

The Central Bank of India will enter capital market with an initial public offering (IPO) of 8 crore shares having a face value of 10 each.

The IPO will open on 24 July 2007 and close on 27 July 2007.

The bank has fixed a price band between Rs 85 - Rs 102 per share.