Friday, March 11, 2011

Lovable Lingerie IPO subscribed over 10 times

Women's innerwear manufacturer Lovable Lingerie's IPO has received a good response from investors, especially from qualified institutional investors (QIBs) and subscribed 10.64 times. The issue has received bids for about 4 crore equity shares as against issue size of 38.67 lakh shares.
Reserved portion of QIBs was subscribed 21.87 times. Retail and non-institutional investors' portion was subscribed around 3 times.
The company plans to raise about Rs 93.28 crore at higher end of price band of Rs 195-205 a share.

Wednesday, November 25, 2009

JSW Energy's Rs 2700 Crore IPO to open on Dec 7, 2009

One more power IPO ready to hit Dalal Street. JSW Energy, a part of JSW group, is coming out with an initial public offering (IPO) of Rs 2700 crore. The issue will open for subscription during December 7-9, 2009.

In a press conference, Managing Director Sajjan Jindal said, "We have operational capacity of 995 MW. We have not finalised anchor investors yet."

It intends to utilise the issue proceeds to partially finance construction and development of the identified projects aggregating to 2790 MW in capacity; 400 KV transmission project and mining venture, and for repayment of corporate debt.

For the year ended March 31, 2009, the company reported profit after tax of Rs 276.69 crore on total income of Rs 1,852.16 crore. It has debt of Rs 5,927.16 crore.

JSW Energy is an established energy company with 860 megawatts of operational generating capacity and 2,790 MW of generating capacity in the construction or implementation phase, 135 MW of which has been commissioned. In addition, it has power generation projects at an early stage under development with a proposed combined installed capacity of 7,740 MW. It is one of the early entrants in the power trading business. Its goal and strategy is to become a leading full-service integrated power company in the Indian power sector with presence across the value chain.

HDFC Standard Life plans IPO in 2010-11

Leading private sector life insurance company HDFC Standard Life plans to come out with an Initial Public Offer (IPO) during next financial year.

The company is planning to come out with an IPO in 2010-11 though the board of the company has not yet set a specific deadline and the work is under progress. Mr Paresh Shreesh Parasnis, Executive Director and Principal Officer, told reporters that timing of the IPO would be depended on the Insurance (Amendment) Bill. The Bill aims to enhance the FDI limit in private insurance firms from 26% to 49%.

HDFC Standard Life is a joint venture between housing finance major Housing Development Finance Corporation (HDFC) and Standard Life plc, a financial services provider in the UK.

Mr Parasnis said the company would pump in Rs 350 crore in the current fiscal. He said Rs 50 crore has been injected and the remaining Rs 300 crore would be infused in the next few months.