Category Archives: SEBI

Retailers can invest upto 2 Lakhs in IPO

Retailers where allowed to invest only upto 1 lakh in IPO until now and if you wanted to invest more they would try to invest in various family names and try to get the IPO pie , If you try to invest more than 1 lakh then you would be considered as HNI and the chance of allotment will go less as normally only 15 % of the IPO size was alloted to HNI , but 35 % was alloted to retailers.One more thing if you would have invested above 1 Lakh you would have not got the 5 % discount that you would have got in Coal India now which was only for the retailers but not for the HNI.
Finally SEBI made all these decisions.

>Sebi doubles the investment limit for retail investors in IPOs and FPOs to Rs 2 lakh |
>There is no change in retail investors’ quota in public offers |
>In case the preferential allotment to promoters is cancelled, there will be a one-year lock-in period
>For insurance cos looking to hit the capital market, Sebi has added more disclosures to the framework wherein the insurer needs to put in the risk factors upfront in the offer document
>They dint make any decision on the Takeover Code

IRDA tells SEBI that banned 14 insurance company will sell ULIPS

IRDA had a meeting today april 10th 2010 and have issues a statement regarding the sebi order over 14 insurance companies.IRDA has taken the Premium paid as some supporting points and have told that

“The IRDA observes that in the year 2008-09, 7.03 crore ULIP polices involving a total premium of Rs.90645 crores were in force. Further, as on February, 2010, during the period 1-4-2009 to 28-2-2010, 16.7 lakhs policies have been sold with a premium of Rs.44611 crores. It is also observed that the 14 insurance companies have an equity capital of Rs.16281 crones as on 31st March, 2009.”

The verdict they gave to SEBI is if these 14 company stops from doing busioness the whole insurance market will come to stand still and it will jeoparadize the The effective stoppage of the sale of the said products will cause a complete drying up of the revenue flows to the insurance companies which could disrupt the payment of benefits on maturity, on
death and on other admissible claims, putting the policyholder and the general public to irreparable financial loss. The financial position of the insurers will be seriously jeopardized thus destabilizing the market and upsetting financial stability.
IRDA has told according to there insurance act they can do business this way and they will not adhere to SEBI’s policy , it will be good to see whats the SEBI’s outcome of this IRDA Letter.
Read more on the IRDA letter to SEBI.

Insurance Company not to sell ULIPS – SEBI BANS 14 Insurance Company

Sebi has come out with the verdict on Insurance company selling ULIPS and it has banned the following insurance company for doing the same . It has been noticed that the following entities have launched several Unit Linked Insurance Products (ULIPs) :-
14 Insurance Company

a. Aegon Religare Life Insurance Company Limited
b. Aviva Life Insurance Company India Limited
c. Bajaj Allianz Life Insurance Company Limited
d. Bharti AXA Life Insurance Company Limited
e. Birla Sun Life Insurance Company Limited
f. HDFC Standard Life Insurance Company Limited
g. ICICI Prudential Life Insurance Company Limited
h. ING Vyasa Life Insurance Company Limited
i. Kotak Mahindra Old Mutual Life Insurance Limited
j. Max New York Life Insurance Co. Limited
k. Metlife India Insurance Company Limited
l. Reliance Life Insurance Company Limited
m. SBI Life Insurance Company Limited
n. TATA AIG Life Insurance Company Limited

Since, the ULIPs launched by the abovesaid entities were prima facie found to be akin to the mutual fund schemes and were launched without obtaining registration from the Securities and Exchange Board of India (hereinafter referred to as “SEBI”)
under the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “the SEBI Act”) and the regulations made thereunder, notices were issued to these entities on January 15, 2010 (except in case of HDFC Standard Life Insurance
Company Limited where the notice was issued on December 14, 2009). SEBI had sought replies from the said entities as to how the ULIPs were launched without obtaining the requisite certificate of registration from SEBI and why appropriate action should not be taken against them under the provisions of the SEBI Act.
Final Verdict : The 14 Insurance Company is restrain from raising further monies/subscription, new and/or additional, from the investors for any product (including ULIPs) having an investment component in the nature of mutual funds till they obtain registration from SEBI.

Read More From Sebi .

SJVN LTD IPO – PSU IPO/FPO Filed with SEBI

About SJVN
The SJVN Ltd (formerly Nathpa Jhakri Power Corporation Limited – NJPC ) was incorporated on May 24, 1988 as a joint venture of the Government of India ( GOI ) and the Government of Himachal Pradesh (GOHP) to plan, investigate, organize, execute, operate and maintain Hydro-electric power projects. The present authorized share capital of SJVN is Rs 4500 crores

Company : SJVN LTD.
IPO/FPO : IPO
Bookbuilding/Fixed Price Bookbuilding
Industry Power Generation & Supply
Instrument Equity
Issue Amount (Rs. crore) (Tentative) 1200.00
Date of Filing with SEBI 26/02/2010
Lead Managers :

JM FINANCIAL CONSULTANTS PVT.LTD., MUMBAI
IDFC-SSKI LTD., MUMBAI
IDBI CAPITAL MARKET SERVICES LTD., MUMBAI
SBI CAPITAL MARKETS LTD., MUMBAI

More About SJVN here.

Hindustan Media Ventures IPO – Files for DRHP with sebi

HT Media has informed the market that the subsidiary of the company “Hindustan Media Ventures Ltd” has filed a Draft Red Herring Prospectus dated March 05, 2010 with SEBI,They have filed saying that they want to go for IPO of equity shares of Rs 10 each for cash at a price including share premium, aggregating up to Rs 300 crore.

SEL Textiles Ltd IPO – Files for DRHP with SEBI

SEL Manufacturing Company Ltd has informed the market that the subsidiary of the company SEL Textiles Ltd has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India.They are coming out with this IPO to finance the cost of Setting up a new facility for manufacturing of Terry Towels with an installed capacity of 3600 TPA out of the net proceeds of the issue.

Aster Silicates IPO – Files DRHP with SEBI

About Aster Silicates

Aster Silicates limited is a company involved in the manufacturing of food grade Sodium Silicate from last 12 years Which is used for manufacturing of Food Grade Silica PPT, having applications in Gel Tooth Paste, Free flowing Salt, Pesticides ,Rubber and Tyre etc.

About Aster Silicates IPO

Aster Silicates have filed for DRHP with SEBI to raise upto Rs 53.10 crore via VIA IPO,The issue proceeds will be used for expansion of manufacturing facilities (with cost of Rs 44.32.19 crore); additional working capital requirements (Rs 7.5 crore) and public issue expenses (Rs 5 crore). The above amount included internal accruals of Rs 3.72 crore.

Eros International IPO – Files for DRHP with SEBI

Eros Group in its application of DRHP with SEBI, it has told that Eros International Media, which is a part of Eros group, have made plans to raise more than Rs 350 crore, and they have planned to do the same via Initial public offering (IPO). They have also made a pre-IPO placement for Rs 20 crore.
They have planned to use the money of 280 to fund our Hindi, Tamil and other regional language film projects that they are planning to release in fiscal 2011 and 2012.

Tirupati Inks IPO – Files for DRHP with SEBI

Tirupati Inks has planned to go for a IPO and they have filed DRHP with Sebi for the same .The IPO is anywhere in the range of 51.5 crore.
About Tirupati Inks

Tirupati Inks Limited is one of the most established Printing Ink Manufacturers in India. We offer inks for all types of printing processes and methods. Our inks are enabled for use in new-generation, upgraded printing machines. The company has started its first unit at Kanpur (U P) in the year 1999 headed by very talented professionals. Through the years of growth, Tirupati Inks has transformed itself into a multi-dimensional, multi- location company offering a comprehensive range of quality products, efficient customer service and a wide distribution network. In India, it is a marketing powerhouse with its branches, technical centers and distributors all over India.

About Tirupati Inks IPO
It has planned to come out with a IPO of 51.5 crore and have planned to use the same procees for the following items.

>For setting up facility for manufacturing of speciality inks and ink concentrates (with a cost of Rs 24.25 crore);
>Capital expenditure on lab equipments for existing facilities (Rs 25 lakh);
>Augmenting working capital resources (Rs 14 crore);
>General corporate purposes (Rs 10 crore) and meeting the expenses of the issue (Rs 3 crore).

Persistent Systems IPO – Files for DRHP with SEBI

Persistent Systems infromed the market that they have come out with a decision to go public and also have filed for DRHP with SEBI for the same , if everything goes well with DTHP we can expect Persistent system IPO also coming out in feb 2010.
About Persistent Systems

Persistent is one of the leading outsourced software product development (OPD) specialists, offering customers the benefits of offshore delivery. We deliver services across all stages of the product life cycle, which enables us to work with a wide range of customers and allows us to develop, enhance and deploy our customers’ software products. From R&D to development, testing, support and professional services, we lever it all. We have fashioned an innovative suite of Time-To-Market accelerators and tools that give our customers a competitive advantage. Our comprehensive suite of service offerings allows us to attract new customers and expand existing customer relationships.

About Persistent Systems IPO

Persistent Systems has filed the draft red herring prospectus (DRHP) for the third time with the Securities & Exchange Board of India (SEBI). It has planned a public issue of 54,19,706 equity shares of Rs 10 each.

United Bank of India IPO – Files for DRHP with sebi

United bank came out with details of IPO in December 2009 itself , it has filed for DRHP and most probably if everything goes smmoth from here , we can see the United bank IPO coming in Feb 2010, The Public sector undertaking, United Bank of India is coming out with an initial public offering (IPO) of 5 crore equity shares of Rs 10 each.The bank had received the government’s approval for an initial public offering on December 4, 2009.

Jindal Power IPO – files for DRHP with Sebi

Jindal Steel & Power Ltd has informed the market that one of the subsidiary of the company Jindal Power Ltd. (JPL has decided to go ahead with a public issue and have started the process for the same and has went ahead and have a DRHP with the Securities and Exchange Board of India.
Issue Details

Jindal Power IPO proposes to raise 7200 crores and its planning to use the fund financing the construction and development of various Thermal Power Projects and for other general affairs.

Talwalkars IPO – Files for DRHP woth Sebi

First time a Fitnees service provider as filed for DRHP with sebi to come out with a IPO ,
About Talwalkars and Talwalkars IPO

Established in 1932, Talwalkars Better Value Pvt Ltd (TBVF), commonly famous as Talwalkars, is India’s largest chain of health centres. It has 45 ultramodern branches across major cities in the country, with 50,000 members.Talwalkars Better Value Fitness is planning to enter the stock market by coming out with a a public issue of 6,050,000 equity shares of Rs 10. It has filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) and wants to raise over Rs 70 crore.

IL&FS Transportation Networks IPO – Files for DRHP with SEBI

About IL and FS Transportation Networks Limited

They are an established surface transportation infrastructure company and they believe they are one of the largest private sector BOT road operators in India. They are a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance. They were incorporated in 2000 by IL&FS, an infrastructure development and finance company, in order to consolidate their existing road infrastructure projects and to pursue various new project initiatives in the area of surface transportation infrastructure. In March 2008, they commenced international operations through the acquisition of Elsamex S.A. (“Elsamex”), a provider of maintenance services primarily for highways and roads in Spain and other countries.

IL and FS Transportation Networks Limited IPO Details

PUBLIC ISSUE OF [] EQUITY SHARES OF FACE VALUE OF RS. 10 EACH (“EQUITY SHARES”) OF IL&FS TRANSPORTATION NETWORKS LIMITED (THE “COMPANY” OR THE “ISSUER”) FOR CASH AT A PRICE OF RS. [] PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. [] PER EQUITY SHARE) AGGREGATING UP TO RS. 7,000 MILLION (THE “ISSUE”) CONSISTING OF A FRESH ISSUE OF [] EQUITY SHARES BY THE COMPANY (“FRESH ISSUE”) AND AN OFFER FOR SALE OF 4,278,844 EQUITY SHARES (“OFFER FOR SALE”) BY TRINITY CAPITAL (TWO) LIMITED (THE “SELLING SHAREHOLDER”). THE ISSUE WILL CONSTITUTE []% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.

ILFS transportation Network IPO allotment can be seens here.When the IPO is over

Midfield Industries IPO – files for DRHP with SEBI

About Midfield Industries

Midfield Industries was incorporated in 1990 and the main objective of the company is tapping industrial packaging segment in India. It provides packaging consumables like high tensile steel strapping in various dimensions and strengths, different seals for different applications, collated nails and corner boards being used for general and the end of line packaging of goods by varied industries.

About Midfield Industries IPO

Public Issue of 4,500,000* Equity Shares of Face Value of Rs. 10/- each for cash at a price of Rs.[•] per Equity Share (including a share premium of Rs.[•] per Equity Share) aggregating to Rs.[•] million (the “Issue”). The Issue would constitute 35.10% of the fully diluted post issue paid-up capital of our Company.

Midfield Industries IPO allotment status link is here.

Rosmerta Technologies IPO files for DRHP with SEBI

About Rosmerta Technologies
Rosmerta Technologies Pvt., Ltd. is a information technology services company in India.They focus on systems integration and technology solutions in various business domains. The company provides enterprise level solutions for smart cards, biometrics, radio frequency identification, and imaging domains.they are based in New Delhi, India with regional and representative offices in India.
Rosmerta Technologies IPO

>Issue : 28,00,000 Equity Shares
>Which comprises of: Fresh Issue : 5,00,000 Equity Shares,Offer for Sale : 23,00,000 Equity Shares
> Retail portion : 9,80,000 Equity Shares

Rosmerta Technologies IPO Allotment Status can be seen here.

PCI Limited IPO – Files for DRHP with SEBI

About PCI Limited

PCI limited which was also known as Prime Chemfert Industries Pvt. Ltd. (later renamed PCI Ltd.).They are a diversified multi activity company primarily in the business of providing hi-tech power equipments,

They are a diversified multi activity company primarily in the business of providing hi-tech power equipments, systems and test instrumentation which find applications in power and energy, telecom, railways, aviation, aerospace, and other allied industries.Over the years, the Prime Group has surged through continuous expansion, diversification and transformation of its initial venture into a varied field of Hi-tech Instrumentation for testing, measuring and condition monitoring, Capital Goods, Precision Engineering, Geo-technology, Information Technology, Power Generation, Lease-Finance, Imports and Exports.
About PCI Limited IPO

Public Issue 5,000,000 equity shares of face value Rs. 10
Retail Portion Atleast 1,750,000 equity shares of face value Rs. 10 each at a premium of Rs. [●] for cash
QIB Portion Atleast 2,500,000 equity shares of face value Rs. 10 each at a premium of Rs. [●] for cash

Issue Outstanding

Equity Shares outstanding prior to the Issue 13,782,749 equity shares of face value Rs. 10 each
Equity Shares outstanding after the Issue 18,782,749 equity shares of face value Rs. 10 each

PCI Limted IPO allotment Can be seen here when the IPO allotment is ready.

Sahara Prime City IPO – Files for DRHP with sebi

About Sahara City Homes

Sahara city homes is Chain of high quality township across 217 cities ,These townships have been planned on 100 to 300 acre (40.47 hectare to 121.41 hectare) of land depending on the city. 55% – 60% of its total land area is open & surrounded by breathtaking ambience, laden with greenery.

Sahara City Homes is a hub for all the assured facilities of security, health, education, well-connected transport and communication. It also has fully developed infrastructure with an easy access to all the amenities providing leisure and happiness, amusement and pleasure, boost of energy and eternal peace to its residents.
About Sahara City Homes IPO
They are filing for DRHP with sebi for IPO of Rs 3,450 crore including a greenshoe option — the proceeds will be channelled into residential and commercial projects. The company’s business plan is focused on developing 88 integrated townships under the ‘Sahara City Homes’ brand name and 15 residential complexes under the ‘Sahara Grace’ brand across 99 cities in India.
sahara city homes IPO Allotment detail will be given when the IPO is over.

Ambience limited IPO – Ambience IPO files for DRHP with SEBI

About Ambience Limited

They are a real estate development company in the National Capital Region with in-house construction capabilities,focused on premium developments.

We have a diversified portfolio of completed, ongoing and planned real estate development projects, which include integrated townships; residential projects, including premium and luxury residential apartment complexes; commercial projects, including corporate office towers and retail projects, including shopping malls. We believe we have established a strong brand image and a successful track record in the real estate industry with the completion of innovative, premium and contemporary projects.
About Ambience Limited IPO

They have filed a draft prospectus for a Rs 1,294-crore IPO .
Equity Shares outstanding prior to the Issue : 302,837,500 Equity Shares
Ambience Limited IPO Allotment will be given here when they tell the information of the register , when the ipo is open i will update this infromation.

Lodha Group IPO – Files For DRHP with Sebi

About Lodha Group

Established in 1980, Lodha Group is a premier real estate developer headquartered in Mumbai. The Group is currently developing in excess of 29 million sq. ft. of prime real estate over 38 projects in Mumbai, Pune, Lonavala and Hyderabad making it one of the largest developer in the country.

There Company was incorporated as Lodha Developers Private Limited on September 25, 1995. We became a public limited company on July 17, 2009 and the name of our Company was subsequently changed to Lodha Developers Limited. The fresh certificate of incorporation consequent on change of name was granted by the RoC, Mumbai to our Company on August 10, 2009. For details of changes in our Registered Office, see section titled “History and Certain Corporate Matters” on page 117.
Lodha Group Website: http://www.lodhagroup.com/
About Lodha Group IPO

Issue of Equity Shares*** = Rs. 27,900 million
Pre and post-Issue Equity Shares
A) Equity Shares outstanding prior to the Issue : 216,216,000 Equity Shares

Lodha Group IPO allotment Detail can be seen here when the IPO is over : http://www.linkintime.co.in/site/ipo.asp

Ashoka Buildcon Limited IPO – Files for DRHP with SEBI

About Ashoka Buildcon

They build and operate roads and bridges in India on a build, operate and transfer(“BOT”) basis. They believe They currently operate one of the highest number of toll-based BOT projects in India.

In addition to BOT projects, They also (i)engineer and design, procure the raw materials and equipment for and construct roads, bridges, commercial buildings, industrial buildings and institutional buildings for third parties, (ii)manufacture and sell ready-mix concrete(“RMC”) and bitumen and(iii) collect tolls on roads and bridges owned and constructed by third parties.
Ashoka Buildcon IPO Issue
The company is planning to raise around Rs 2,25 crore through the issue. The issue proceeds will be used for investment in capital equipment; working capital requirements; prepayment/ repayment of project loans of the company and funding certain subsidiaries for prepayment/ repayment of their loans.
Company Website : http://www.ashokabuildcon.com

Reliance Infratel IPO – Reliance Communication announces it filed for DRHP again

Reliance Infratel Ltd, which is a subsidiary company promoted by Reliance Communications Ltd, a part of Reliance Anil Dhirubhai Ambani Group, said that its going to undertake an IPO of equity shares,they have informed that they have filed the DRHP for the same with SEBI again yesterday september 24th 2009 .The IPO proposed is for 15,60,00,000 shares of rs 10 each to be given at a premium which is to be decided later , some banks are saying that they might be aiming for 1 billion dollar through the IPO , if thats the case then premium would be anywhere from 300 to 330 .But we will see nothing is sure until the final premium is out.

Emmbi Polyarns IPO – Files for DRHP with Sebi

Abput Emmbi Polyarns Limited
Emmbi Polyarns Limited is India’s leading manufacturer for FIBC (Jumbo Bags) and Woven Sacks . Emmbi is the first Woven Polymer processing company in India to get certified for ISO 9001: 2000 for manufacture and supply of ‘Woven sacks, FIBC ,Plastic Bags, Printed Paper Laminated Sacks, Printed Film Laminated sacks, Leno Bags, Plastic Tarpoline, Woven fabric for various other uses’ . The manufacturing facilities are located at Silvassa, 150 km North of Mumbai (Bombay). These facilities are augmented with adequate power and water sources. Polymer Processing Capacity is 6000 TPA. This translates into 2 million FIBC & Box bags along with 24 million Small Plastic Woven Bags Per Year.
Company website : http://www.fibcindia.com/
Emmbi Polyarns IPO

Public Issue aggregating to Rs. [•] lacs:Which comprises of fresh issue of 95,74,000 Equity Shares of Rs. 10/- each Of which:Retail Portion:Not less than 33,33,400 Equity Shares of Rs. 10/- each constituting 35% of the Net Issue that will be available
for allocation to Retail Individual Bidders.
ISSUE Outstanding
Equity Shares outstanding prior to the Issue: 78,32,550 Equity Shares of Rs. 10/- each
Equity Shares outstanding post the Issue: 1,74,06,550 Equity Shares of Rs. 10/- each

Cox And Kings IPO – Files for DRHP with SEBI

Recent Post : http://www.rupya.com/2009/11/18/cox-and-kings-ipo-details-opens-today/11670
About Cox & Kings
They have filed for DRHP again after almost 1 and half years , we have already talked about them way back in Jan 2008 when they filed for DRHP at that time.

Cox & Kings is the longest established travel company in the world. Its distinguished history began in 1758 when it was appointed as general agents to the regiment of Foot Guards in India under the command of Lord Ligonier.

By 1878, C&K were agents for most British regiments posted overseas, including the Royal Cavalry, Artillery and Infantry, as well as the Royal Wagon Train and the Household Brigade. The Royal Navy was next and in 1912, The Royal Air Force came under its wings.
About Cox & Kings IPO

PUBLIC ISSUE OF 18,496,640 EQUITY SHARES OF RS. 10/- EACH OF COX AND KINGS (INDIA) LIMITED (THE “COMPANY” OR THE “ISSUER”) FOR CASH AT A PRICE OF RS [] PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. [] PER EQUITY SHARE), CONSISTING OF A FRESH ISSUE OF 15,450,000 EQUITY SHARES BY THE COMPANY AND AN OFFER FOR SALE OF 3,046,640 EQUITY SHARES BY LEHMAN BROTHERS OPPORTUNITY LIMITED, DEUTSCHE SECURITIES MAURITIUS LIMITED AND MERRILL LYNCH CAPITAL MARKETS ESPANA, S.A., S.V. (THE “SELLING SHAREHOLDERS”), AGGREGATING TO RS.[] MILLION (THE “ISSUE”). THE ISSUE COMPRISES OF A NET ISSUE TO THE PUBLIC OF 18,296,640 EQUITY SHARES OF RS. 10/- EACH (THE “NET ISSUE”) AND A RESERVATION OF UP TO 200,000 EQUITY SHARES OF RS. 10/- EACH FOR THE ELIGIBLE EMPLOYEES (AS DEFINED HEREIN) ON A COMPETITIVE BASIS (THE “EMPLOYEE RESERVATION PORTION”). THE ISSUE WOULD CONSTITUTE 29.40% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY. THE NET ISSUE WILL CONSTITUE 29.08% OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE COMPANY.