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Gokul Refoils and Solvent Limited IPO
2008-04-27 08:09:00
Incorporated in 1992, Gokul Refoils and Solvent Limited is engaged in the business of Solvent Extraction, refining of Edible oils and Vanaspati manufacturing. The business of refining vegetable oils including seed procurement, processing, solvent extraction and marketing of edible oils. The major edible oils processed in the plant are Soybean Oil, Sunflower Oil, Palm Oil, Mustard Oil, Groundnut Oil and Vanaspati.Company has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1200 TPD of refining and 200 TPD of Vanaspati manufacturing. The units are situated at Sidhpur (Sidhpur unit, North Gujarat), Anjar (Gandhidham unit, Kutch), Navi Pardi (Surat unit, South Gujarat), Kutch (Wind mills). Company setup Solvent Extraction plant and an oil refinery at Sidhpur, Refinery of 800 TPD and Vanaspati plant of 100 TPD at Kutch, Four environment friendly wind mills of 1.25 MW each in Kutch, 100 TPD operational refinery in Surat and co-generation power plant of 500 KWH at our Gandhidham ...
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SBI MF set the record date for dividend announcement
2008-04-24 06:24:00
SBI Mutual Fund declares to announce dividend, under the dividend option of SBI Debt Fund - Series 15 - months 2.The fund house set Apr. 22, 2008 as the record date for the announcement of dividend. It will announce the complete distributable surplus available on the record date, as dividend. Pursuant to payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy, if applicable. The NAV of the dividend option of the plan stood at Rs 10.37 per unit, as on Apr. 9, 2008. All unit holders registered on or earlier than the record date will be eligible to get the dividend.
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Birla Sun Life MF set the record date for dividend announcement
2008-04-24 06:23:00
Birla Sun Life Mutual Fund (MF) declares to speak out dividend, below the dividend option of Birla Sun Life Quarterly Interval Fund - Series 6.The fund house set Apr. 21, 2008 as the record date for the announcement of dividend. It will announce the entire distributable surplus available on the record date, as dividend. Pursuant to payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy, if applicable. The NAV of the dividend option of the scheme stood at Rs 10.05 per unit, as on Apr. 15, 2008. All unit holders registered on or before the record date will be eligible to get the dividend.
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SEBI allocate MF?s to sell G-Secs without taking delivery
2008-04-24 06:21:00
SEBI has decided to allocate mutual funds to sell government securities agreement for purchase without taking delivery, in accord with the terms and conditions issued by the RBI. The release said, ?The Mutual funds are at present not allowed to sell such securities contracted for purchase as SEBI regulations required them to take actual physical delivery of the securities. This decision by the SEBI board will put mutual funds on an equal footing with additional market participants such as banks, primary dealers and insurance companies as they can now go in for net settlement of government securities transactions.? SEBI in a statement said, ?This is subject to the transaction being guaranteed by an approved central counterparty, namely Clearing Corporation of India Ltd.? Source: www.paisacontrol.com
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Huasheng picks 7.46% stake in India-based Kiri Dyes
2008-04-21 10:34:00
Huasheng Co. Ltd, a unit of Chinese dyestuff manufacturer Zhejiang Longsheng Group, has acquired 7.46% equity stake in Kiri Dyes and Chemicals Ltd (KDCL), one of country?s leading manufacturer and exporters of dyes and dyes intermediates. Huasheng has purchased 1.1 million shares in Kiri at Rs 115 per share. KDCL has recently closed its initial public offering of 37.5 lakh equity shares of face value of Rs 10 each. Ahmedabad-based, Kiri Dyes, one of the top 10 producers of reactive dyes globally in terms of volume and quality, is an Ahmedabad based company. The company has been in the business of manufacturing Reactive Dyes for past 9 years. The product range of company caters to textiles, leather, paint and printing-ink industries. The Company sells its products to customers across various countries including Korea, Turkey, Indonesia, Taiwan, U.S.A, Canada, and other European countries apart from domestic sales. KDCL plans to raise funds for executing its backward integration proje...
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Aishwarya Telecom Limited IPO
2008-04-20 13:18:00
Incorporated in 1995, Aishwarya Telecom Limited is ISO 9001:2000 Certified Company manufacturing Fiber Optic Test Equipments and Cable Fault Locators. Currently, ATL manufactures products for Telephone Service Providers, Defence Sector, Railways, Telecom equipment manufacturing companies and Cable TV Operators.ATL has 9 R & D, 4 Customer Support, 20 Marketing, 45 Production and 10 Administration Personnel. ATL is planning to expand in to designing products for Defence Sector and Educational Sector.ATL manufactures a wide range of Telecom Fiber Optic products and supplies to Bharat Sanchar Nigam Limited, Tata Tele Services, Bharati Telenet, HFCL public sectors defence sectors like ECIL in India. ATL is exporting cable fault locators to countries like France, Taiwan, Czech Republic, Riyadh, Dubai etc.Objects of the Issue:The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to: Fund the Capital Expenditure for Research & Development ...
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India IPO, M&A to revive after 2008: Merrill India
2008-04-18 13:58:00
By Narayanan Somasundaram and Charlotte CooperMUMBAI (Reuters) - Share issues and overseas acquisitions out of India are unlikely to be as strong this year as 2007 but activity should recover over the next few years, the president of Merrill Lynch's (MER.N: Quote, Profile, Research) India unit said on Thursday.Kevan Watts, who took over as president of DSP Merrill Lynch this week, said Indian companies were now fundamentally more interested in global expansion, and this would place them in good stead when market conditions and confidence improved."They are thinking what their business models bring to companies outside India, and they are very self-confident about their abilities to do these transactions," he said.India's main share index .BSESN has fallen more than 20 percent this year on a global credit crunch and fears of a U.S. recession. It had risen by an average of 44 percent in the past four years."The climate now is not what it was last year in terms of the transaction flo...
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Italy's Prada Says No June IPO; Aiming For Fall :2nd UPDATE
2008-04-18 13:38:00
ROME -(Dow Jones )- Prada SpA said Thursday that it won't launch an initial public offering in June , as previously anticipated due to "unfavorable conditions," but will now try for the autumn.A Prada IPO has been one of the most keenly anticipated in the fashion industry.The company has said it envisaged two windows to list its shares, one in June and one in the autumn, despite signs U.S. economic turmoil is spreading to Europe's luxury goods sector."There won't be an initial public offering before the summer...it doesn't seem like there are the right conditions," Chief Executive Patrizio Bertelli said earlier Thursday in an interview with Italian press agency Radiocor.A company spokesman confirmed the remarks.Prada, which is 95%-owned by designer Miuccia Prada and her husband, Patrizio Bertelli, said in December that market conditions would be a factor in the IPO's timing, but the company aims to list its shares in 2008.Mediobanca (MB.MI) has been tapped as its financial advise...
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Sreeven Infocom planning IPO next year
2008-04-18 13:36:00
HYDERABAD, INDIA: Sreeven Infocom is planning to launch an IPO next year. The company, as part of its expansion plan, is scaling up its team and trying to woo investors.Based in Hyderabad, Sreeven focuses on e-governance and has a capital order of Rs 60 crore. It has achieved a top line of Rs 10 crore in the fiscal 2007-08.Chennai based Dhanus Technologies, a BSE listed Rs 180 crore telecommunications company, on Wednesday picked up a 60 per cent stake in the company, in an all cash deal amounting to Rs 7.5 crore."This is not a sale of stock but additional capital investment to the company and will be strategic investment to our growth plan," said K.S Raju, managing director, Sreeven Infocom.While Sreeven will retain its identity and current board of directors, there will be few new board members added from Dhanus.Sreeven has e-governence projects in Andhra Pradesh, Punjab, and Delhi."There are minimum requirements of company size to service some government sectors, now we have that...
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Sensex ends up 237pts, Infosys gains 4%
2008-04-17 15:52:00
The Sensex opened with a positive gap of 212 points at 16,456 on positive cues from the global markets.The index moved in a range of 174 points between 16,397 (low) and 16,571 (high) before finally settling with a gain of 237 points at 16,481. The Sensex thus ended the holiday-shortened week with a gain of 673 points (4.3%).The market breadth was fairly positive - out of 2,779 stocks traded, 2,028 advanced, 700 declined and 51 were unchanged today.The NSE Nifty ended with a gain of 71 points at 4,958.INDEX MOVERS...HDFC Bank zoomed 6% to Rs 1,396. Hindalco soared 5.5% to Rs 186.HDFC and DLF surged 4.3% each to Rs 2,487 and Rs 649, respectively. Infosys rallied over 4% to Rs 1,666.Tata Steel gained 3.5% at Rs 715. Satyam advanced 3.3% to Rs 469, and Mahindra & Mahindra added nearly 3% to Rs 639.TCS and Wipro moved up 2.7% each to Rs 1,001 and Rs 459, respectively.ICICI Bank gained 2.4% at Rs 835. Bharti Airtel was up 2% at Rs 823, and Jaiprakash Associates added 1.6% to Rs 217......
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Indian shares open higher; Information technology, power stocks gain
2008-04-16 10:47:00
MUMBAI (Thomson Financial) - India n shares opened higher amid renewed interest in information technology companies and tracking positive Asian cues.At 10:30 a.m., the Bombay Stock Exchange's 30-share benchmark Sensex rose 216.80 points or 1.34 percent to 16,370.46 and the National Stock Exchange's 50-share S&P CNX Nifty gained 62.3 points or 1.28 percent to 4,941.95.Dealers said fresh positions are seen in information technology (IT) companies after bellwether Infosys Technologies Ltd. posted in-line fourth-quarter results and relatively better guidance on Tuesday. The IT index on the Bombay Stock Exhcnage (BSE) was up by over 3 percent in early trade, with Infosys gaining 3.46 percent to 1,563.10 rupees.Stock markets across Asia rose Wednesday, taking their cue from Wall Street where better-than-expected manufacturing data and news about strong earnings overshadowed worries about the U.S. economy.Among Sensex-30 stocks today, Anil Dhirubhai Ambani Group (ADAG) company Relianc...
More About: Information , Technology , Power , Stocks

Investors might be able to hold IPO subscription
2008-04-14 12:19:00
A senior official said, ?Market regulator expect to allow investors to hold subscription amounts for initial share offerings in their bank accounts until allotment to cut the time amid the stock sale and listing.? Bhave said, ?The last month the board will review the IPO process to reduce the time between the sale and listing and make the it additional efficient.? The Sebi hopes to take a decision in the next three months, C B Bhave, chairman of the regulator told reporters at a seminar on IPO. He said, ?It is our belief that with the present technology available it is possible to earmark the amount in the investor account itself and not have the money actually transferred.?He added, ?For this we need to talk to different players involved to see that it is operationalised initially on a voluntary basis and so keep both options open and slowly push it.? source : paisacontrol.com
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CRISIL IPO assigned to Shankara Pipes India Ltd
2008-04-14 12:16:00
CRISIL has assigned IPO Grade ?2/5? to the proposed issue of Shankara Pipes India Ltd, which indicates that the fundamentals of the issue are below average. Shankara Pipes aims to increase in between Rs 790 and 910 million throughout its proposed public issue of 6, 1 15,000 equity shares.The CRISIL IPO Grade 2/5 reflects Shankara Pipes? facility to grow to be an Rs 5-billion steel pipe and tube distribution company, having a strong foothold in South India. The management has demonstrated a good understanding of the Electronically Resistance Welded segment within steel pipe and tube distribution, both in terms of supply arrangements with manufacturers and distribution set up. In excess of the last few years, however, Shankara Pipes has seen a sharp increase in its working capital requirement, leading to the decision of re-modeling its business strategy by entering retail distribution and initiation an e-portal. Shankara Pipes's ability to carry forward the expertise of its old busin...

Lodha Group plans IPO News
2008-04-14 12:12:00
Real estate developer Lodha Group on yesterday said it plans to elevate Rs 8,000 crore from the primary market to fund its various projects and develop its operations.Last year, Deutsche Bank invested USD 425 million in Lodha Group. JP Morgan has also invested in one of Lodha's luxury apartments. The group is promoted by Mangal Prabhat Lodha, who is also the Chairman and Managing Director of the group. Lodha Group is developing 27 projects in Mumbai and Thane. Its profile consists of 60 pct residential projects, 30 pct commercial and 10 pct retail. The company, which specializes in building luxury homes, announced the launch of a new luxury residential project, Lodha Marina, in Mumbai.He said, ?With Lodha Marina, we look forward to make available premium lifestyle residential offerings in Mumbai's eastern seaboard. At Lodha, we understand the demands of ultra-modern living and are committed to focus our endeavours towards creating landmarks of exemplary design, luxury and quality ...
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Get Profit from a Falling Stock
2008-04-14 12:06:00
To know most basic principals to get profit out of falling stock read the following article. In this, we have discussed shorting stock versus buying "put" options.For an illustration, you are just selling a stock, taking in the cash for the sale, and "buying back" or covering the sale at a cheaper price. As a result, if you "short" of ABC Company at 60 Rs and you sold 1000 shares, you took in 60,000 Rs. At this instant if, ABC falls to 50, and you "Cover" you are buying it back cheaper. In this case, you will spend 50,000 Rs. The difference between where you sold and what you spent, 10000 Rs. is your profit.That really is as easy and it is no more risky than going long as long as you use stops to protect yourself. Ever since the market is volatile and goes up and down, if you only opt for the long-term games then you are losing countless income possibilities.However, you will face some troubles with this strategy. Firstly, you will require a margin account to do it. All short sales ...
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News Releases WSP Holdings Celebrates IPO on NYSE
2008-04-12 10:04:00
NYSE Now Lists 48 Companies from Greater China, 17th New Listing from Greater China Year-To-Date NEW YORK, Dec. 6, 2007 ? WSP Holdings , a major manufacturer of seamless Oil Country Turbular Goods (OCTG) in China, today opened for trading on the New York Stock Exchange under the ticker symbol ?WH ? after its successful IPO in which it raised $212.5 million."WSP Holdings is a welcome addition to our fast-growing family of Chinese listed companies," said NYSE Euronext President & Co-COO Catherine R. Kinney. "NYSE Euronext looks forward to providing WSP Holdings and its shareholders with the superior services, market quality and brand visibility provided by listing on NYSE Euronext markets."To celebrate today?s special occasion, WSP Holdings Chairman & CEO, Mr. Longhua Piao, rang today?s opening bell, joined by NYSE Euronext EVP Noreen M. Culhane.Background on NYSE Euronext-China: The NYSE now has 48 companies listed from Greater China, including 36 from Mainland China , 7 from ...
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Aishwarya Telecom IPO started on Tuesday of Rs 32
2008-04-11 10:57:00
Aishwarya Telecom 's IPO will open for subscription on Tuesday . The issue, priced within a band of Rs 32 to Rs 35, will offer 40, 00,000 equity shares of Rs 10 each during the 100 pct book building process. The issue closes on today.The issue comprises a reservation of up to 1,00,000 equity shares for eligible employees while the rest would be open for public, which constitutes 36.59 pct of the fully diluted post issue paid-up capital of the company. The proposed issue will be lead managed by SREI Capital Markets, Sobhagya Capital Options and the registrar to the issue will be Big share Services.Aishwarya Telecom is in the business of manufacturing test and measurement equipments like mobile tester, fibre optic tester, data tester, cable fault locator. The company currently manufactures products for telephone service providers, defense sector, railways, telecom equipment manufacturing companies and cable TV operators.The company has its manufacturing facilities at Yanam, Pondicherry...
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Private equity firm Apollo Global Management plans to list on NYSE
2008-04-10 20:05:00
Apollo Global Management , a leading manager of private equity and credit-oriented capital markets funds, filed with the SEC for a shelf offering on Tuesday and will apply to list its shares on the NYSE. Selling shareholders are offering up to 29.8 million shares originally acquired in a 144A offering in August 2007. Shares trading on a private OTC market have recently sold at $14, indicating a maximum deal size of roughly $418 million. No underwriters were named in the initial filing.Apollo Global Management (AGM)Business Business A leading manager of private equity and credit-oriented capital markets fundsIndustry Financial-Investment MgmtEmployees 276 Founded 1190 Financial Data ($ in millions) Market Cap $1,761.2Revenues $638Net Income $153*Revenues and Net Income is for last twelve months ending 12/31/07Corporate Data Company Address 9 West 57th Street, 43rd Floor, New York, NYPhone Number (212) 515-3200
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Market trades Weak: Wirpro, L&T, JP Associates down
2008-04-08 10:35:00
The markets are trading weak without any signs of recovery. Selling pressure is seen in capital goods, telecom, FMCG, IT, oil stocks. Broader markets have given up some of its gains and are trading absolutely flat. On the global front, most Asian markets ended lower.At 1.19 hrs IST, the Sensex is down 237.65 points or 1.51% at 15519.43, and the Nifty down 72.10 points or 1.51% at 4689.10.About 1197 shares have advanced, 1256 shares declined, and 619 shares are unchanged.Wirpro, L&T, JP Associates are down over 4% each. SAIL, Grasim, Bharti Airtel, Tata Communications are among the tother losers.JB Chemicals has approved a buyback upto 7% and the stocks is up over 7%, Glenmark is getting active and is up over 6%. Among the top gainers were BHEL, DLF, SBI, ICICI Bank, HDFC Bank and Sterlite Industries.Orchid Chem, BHEL, Reliance Industries and L&T were most active shares on the bourses.Capital goods stocks have underperformed the market today, BSE Capital Goods Index was down 1.5%. Te...
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Bharat Oman Refineries files DRHP with SEBI
2008-04-07 21:50:00
Bharat Oman Refineries Limited (BORL), an equal joint venture between state-owned Bharat Petroleum Corporation (BPCL) and Oman Oil Company (OMCL), plans to raise Rs 2,400 crore through an initial public offer and other placements.The company has filed the draft red herring prospectus with SEBI for the proposed IPO on Friday.The company plans to sell a total of about 48% through the public offer and a pre-IPO placement to raise up to Rs 2400 crore.The present issued and paid-up equity share capital of BORL is Rs 151 crore, which primarily comprises equity shares held by, inter-alia, BPCL and Oman Oil Company S.A.O.C.Post the IPO, Oman Oil?s stake in the company is likely to reduce to 5 per cent.The company is raising funds for its Rs 10,400-crore six-million-tonne petroleum refinery at Bina in Madhya Pradesh.As on February 15, 2008, nearly 49.50% of the project was completed. The refinery project is intended to be funded with a mix of debt and equity in the ratio of 1.6:1.The rest am...
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Kiri Dyes fixes issue price
2008-04-07 21:33:00
Kiri Dyes & Chemicals, manufacturer of reactive dyes also known as Synthetic Organic and Dye Intermediates has fixed the issue price at Rs 150 per equity share for its IPO of 37,50,000 equity shares of Rs 10 for cash at a price determined through 100% book building process.The initial public offering was subscribed 1.43 times, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead manager to the issue is Centrum Capital.
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Stocks watch Ranbaxy and Orchid
2008-04-07 21:27:00
got a pleasant surprise today as short covering pushed the markets sharply higher after a calm start. Indices ended the day with smart gains despite a large round of profit booking. The Nifty closed 114 points higher at 4,761 and the Sensex shut shop at 15,757, up 414 points.Technical Analyst Sudarshan Sukhani of Technical Trends is positive on Ranbaxy and Orchid.?Every time the stock market gets oversold in some form or the other, there is a buying opportunity. As the market goes towards 4,900, I am assuming resistance will come in. Sooner or later this trading range is going to break, either on the down or on the upside. That is where big opportunities will come. Anything above 4,900 and a close above that level would tell us that the bulls are certainly getting stronger. Inside this range, wait patiently. Whenever there is a sense of gloom, that is the time to buy and then take profits on the upper side,? said Sukhani.Here?s how Sudarshan Sukhani views the stocks on board:On Ranb...
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OnMobile Global Limited IPO
2008-04-04 11:15:00
Incorporated in 2000, OnMobile Global Limited is a leading provider of telecommunications value added software products and services in India.OnMobile products are targeted at end-user telecommunications with an increasing focus on capitalising on the convergence between wireless and wired line telecommunications services, media content distribution, internet, mobile marketing and mobile commerce. They have broad range of applications for their end-user subscribers. Products include ring back tones, voice portals, ring tones downloads, contests, music messaging, mobile radio, dynamic voicemail and missed call alerts.OnMobile?s major customer includes Bharti, BSNL, Tata Teleservices Limited, Vodafone Essar Limited and more than 10 international telecommunications operators in eight countries. In addition to telecommunications carriers, OnMobile market its services to media companies such as AOL, Disney, ESPN, India Today Group digital, a division of Living Media India Ltd., Star, han...
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Titagarh Wagons Limited IPO
2008-04-04 10:45:00
Incorporated in 1997, Titagarh Wagons Limited is one of the leading private sector wagon manufacturers in India. It is in the business of manufacturing railway wagons, Bailey bridges, Heavy Earth Moving and Mining equipment, steel and SG iron castings of moderate to complex configuration etc.They also manufacture other products for the Indian defence establishment, such as special purpose wagons, shelters and other engineering equipments. They had approximately 16.9% market share in the wagon manufacturing segment in Fiscal 2006, which has further increased to approximately 22.1% in Fiscal 2007.Titagarh Wagons Limited are the only private sector company registered with the Ministry of Defence, Government of India to manufacture Bailey bridges and other related accessories in India. Titagarh Wagons Limited aspires to be a leader as a manufacturer of heavy engineering equipment and a world-class service provider for the infrastructure sector. They operate two manufacturing facilities ...

Kiri Dyes and Chemicals Limited IPO
2008-04-03 08:19:00
Incorporated in 1998, Kiri Dyes and Chemicals Limited is engaged in the business of manufacturing of reactive dyes which are called synthetic organic dyes used for cotton fabrics like garments, dress materials, bed-sheets, carpets etc. The dyes are of basically colours like black, blue, red, orange, yellow and numerous variants of these basic colours identified by color index number internationally. The product range of company caters to textiles, leather, paint and printing-ink industries with total production capacity of 10800 MTPA.The Industry produces a wide spectrum of products, which include Pharmaceuticals, Dyes, Man-made Fibers, Plastics, Pesticides, Fertilizers, Cosmetics and Toiletries, Paint, Auxiliary Chemicals and wide range of organic and Inorganic compounds for applications ranging from automobiles, textile industry, engineering industry, construction chemicals and food additives to veterinary and health care products.The company is engaged in the business of manufact...

AEGON Religare Life Insurance - Religare enters Life Insurance Space
2008-04-02 19:36:00
Religare Enterprises Ltd has informed the market that AEGON Religare Life Insurance Company Ltd , which has formed as a joint venture between AEGON, one of the world?s largest life insurance and pension Companies and Religare itself .Theyhave also received the initial approval - R1 license, from the Insurance Regulatory & Development Authority (IRDA) to operate in the Life Insurance space. So there is two more process to get registered itself.
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U.S. STOCKS - Market turns up; banks extend Tuesday gains
2008-04-02 19:31:00
NEW YORK (Reuters) - U.S. stocks turned higher on Wednesday, with financial shares extending gains from Tuesday 's sharp rally on signs the worst of the credit crisis may be over.The Dow Jones industrial average was up 18.65 points, or 0.15 percent, at 12,673.01. The Standard & Poor's 500 Index was up 5.07 points, or 0.37 percent, at 1,375.25. The Nasdaq Composite Index was up 15.28 points, or 0.65 percent, at 2,378.03.
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Oil prices drop below $100
2008-04-02 09:32:00
World oil prices slid under $100 per barrel, extending recent sharp losses on mounting concerns that slowing global growth could dampen energy demand, traders said.New York's main oil contract, light sweet crude for delivery in May, lost 72 cents to reach $100.88 per barrel after earlier touching as low as $99.55.London's Brent North Sea crude for May fell 39 cents to $99.91 per barrel. It earlier tumbled as low as $98.99.Yesterday, New York crude had slumped by $4.04 and London Brent had dived by $3.47."Market participants still remain concerned over slowing fuel demand in the US, with figures last week showing US oil demand over the last four weeks averaging around 2.2 per cent lower than one year ago, said Sucden analyst Andrey Kryuchenkov."It seems that consumers are starting t feel record high gasoline (petrol) prices and refineries are cutting down on their production due to slipping profit margins."Crude oil prices have fallen since Friday when the US government confirmed t...
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No plans for IPO: Jupiter Capital
2008-04-01 07:13:00
MUMBAI: Venture development managment and investment company Jupiter Capital said it has no plans to tap the capital market. "We will not be listing any of my companies, at least not in the short-term," said, Jupiter Capital's Chairman and CEO Rajeev Chandrasekhar. Jupiter Capital is a venture development, management and investment company started in 2005 after Chandrasekhar sold his stake in BPL Mobile to Essar group. Chandrasekhar said a listed company has to follow many rules and regulations, which he was not prepared to. Market regulator Sebi wants a listed company to hold board meetings regularly and conduct an annual general meeting. Chandrasekhar was one of the early movers into the mobile telephony space in the mid-1990s. The Jupiter Capital Chairman said he has identified verticals that would yield rich dividends in a few years, but are not attractive now. Chandrasekhar's Jupiter Capital has invested in infrastructure, media and technology, aviation, transportation, techn...
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Chiripal Industries files for IPO with SEBI
2008-03-28 10:44:00
MUMBAI: Chiripal Industries Ltd has filed a draft red herring prospectus with Securities and Exchange Board of India for an initial public offering of 14,216,700 equity shares of Rs 10 each, at a price to be decided through 100 per cent book-building process.The issue comprises of a net issue to public of 12,100,000 shares of Rs 10 each, promoters' contribution of 1,916,700 shares of Rs 10 each and a reservation of up to 200,000 shares of Rs 10 each for employees. The net issue will constitute 34.57 per cent of the post issue paid up capital.The shares will be listed on Bombay Stock Exchange and National Stock Exchange.The company is also considering a pre-IPO placement. If the placement is completed, the net issue to the public would be reduced to the extent of the share placement.The company has appointed IDBI Capital Market Services as a book running lead manager.Chiripal Industries, the flagship of Ahmedabad based Chiripal Group, has presence in the textile chain right from man...
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