IPO Update

Gemini Engi-Fab IPO to open on February 3

Gujarat-based Gemini Engi-Fab, is entering the capital market on 3rd February 2009 with a public issue of 55 lakh equity shares of Rs 10 each, through 100% book building process.

The issue would constitute 46.40% of the fully diluted post issue paid-up capital of the company. The price band has been fixed at Rs 75 to Rs 80 for every share of Rs 10 each and the issue would close on Feb. 6, 2009.

NHPC plans to launch IPO near Diwali; to raise Rs 1680 crore

State-owned National Hydro Power Corporation Ltd (NHPC) intends to enter the capital market through its IPO around Diwali in October, to raise Rs 1680 crore to meet its financial requirements for ongoing expansion work.

The company plans to bring 167 crore shares of face value of Rs 10 each, which would result in the dilution of 15% stake of the government’s holding in NHPC. Currently, the government owns 100% stake in the PSU.

Avesta Biotherapeutics to launch new products; unveils IPO plan

Avesta Biotherapeutics and Research (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (of CIPLA group), is aiming to rolls out about eight high-value, bio-similar or copied versions of off-patent biotech drugs before 2012.

ABRPL is currently working on developing drugs for anaemia, cancer and arthritis. The company stated that, after commercialization of the product, Cipla would market these products in India and in other geographies.

Resurgere Mines lists at 285 on NSE; stock rockets 90% during noon trade

The shares of Resurgere Mines & Minerals have got listed today at Rs 285, on National Stock Exchange against issue price of Rs 270 at a premium of 5.56%.

The company had entered the capital market on August 11 with a public issue of 4.45 million equity shares. The company fixed the issue price at Rs 270 a share, which closed on August 13, 2008.

Resurgere Mines & Minerals India Ltd engages in the business of extraction, processing and sale of mineral products and exploration and development of mining assets.

Nu Tek to list on bourses on August 27

Gurgaon-based Nu Tek India Limited has informed that it will list on the bourses with its equity shares on August 27, 2008 (Wednesday). The issue, which opened on July 29 and closed on August 1, was subscribed 1.63 times

The price band was between Rs 170 and Rs 192 per equity share. The issue has been assigned an IPO grade of 3/5 rating agency, CRISIL.

KSK Energy Ventures’ IPO to open on June 23; price band Rs 240 – 255 per share

KSK Power Ventures Limited, the power project company with interests in multiple power plants across India has informed that its Indian subsidiary, KSK Energy Ventures Ltd, proposes to enter the capital markets with a public issue of 3,46,11,000 equity shares of Rs 10 each through 100% book building process.

The Issue opens on June 23 and closes on June 25, 2008. The price band has been fixed at Rs 240 to Rs 255 per equity share of Rs 10 each.

Sejal Architectural Glass fixes IPO price at Rs 115 per share

Sejal Architectural Glass has fixed the issue price of its equity shares at Rs 115 per share for its initial public offering (IPO).

The issue price has been fixed at the upper limit of the price-band, which was fixed between Rs 105 and Rs 115. The company had issued 91.94 lakh equity shares of Rs 10 each through a 100 per cent book building process.

Nutek India IPO receives grade of ‘3/5’ from rating agency CRISIL

Gurgaon-based, Nutek India Limited has informed that its initial public offer (IPO) has received rating grade of 3/5 from Country’s premier rating agency, CRISIL.

The assign grade indicates that the fundamentals of the issue are average relative to other listed equity securities in India.

DLF Assets files for IPO approval in Singapore

DLF Assets, the property fund of DLF Ltd, plans to launch an initial public offer of its office trust in Singapore by June to raise over $2 billion (over Rs 8,000 crore). DLF is India’s largest real estate company in terms of market valuation.

DLF Assets, which has been set up to acquire completed commercial projects of India's most-valued realty company DLF, is planning to file the updated prospectus soon for its proposed IPO for the approval of Singapore authority. The earlier prospectus had financial information only till September 2007.

Adani Power files DRHP with SEBI for 29.69 crore equity shares

India's Adani Enterprises Ltd. said that its wholly owned power subsidiary, Adani Power Limited has filed a draft red herring prospectus with the market regulator, SEBI for offering 296.94 million equity shares (including employee reservation) to the public through 100% book building process.

Adani Enterprises, through its subsidiaries, is engaged in the trading of commodities in India and internationally. The company concentrates on the business segments of energy, agro, metals and minerals, and infrastructure and logistics.