Friday, December 28, 2007

Mega IPOs of the year 2007 India

The booming IPO market, which has given stellar returns this year, could prove even more lucrative for the retail investor. Of the 85 issues listed till date in 2007, 64 ended in positive territory on day one. About 62% of the IPOs are now trading above their issue price. Here's a compilation of IPOs listed during the year.

Religare Enterprises
The public issue of Religare Enterprises was offered at a price band of Rs 160-185 per share to raise Rs 140 crore. The IPO was subscribed 160.56 times. The stock got listed at Rs 323 on November 21, 2007.

Religare Enterprises' shares surged 182% over the issue price on its debut trade on the bourses.
Religare is promoted by Ranbaxy Laboratories and provides financial product and services. The company offers wide range of services including equities, commodities, insurance broking, wealth advisory, portfolio management services, personal finance, investment banking and institutional broking services.

As on Dec. 3, 2007, the stock was trading at Rs 505.45.

DLF
The mega public issue of DLF hit the markets on June 11, 2007 to raise Rs 9,625 crore. The IPO issue, initially scheduled for June 2006 faced a lot of hiccups. DLF shares rose 6% in their market debut, propelling the firm to the list of India's 10 most valuable companies. The issue was subscribed 2.47 times. The price band of the IPO was fixed between Rs 500 and Rs 550 and the shares got listed at Rs 526.60.

DLF is one of India's leading players in the real estate development industry. The company has been in existence since 1946 and has completed 224 million sq ft of development.

The stock price was quoted at Rs 944.40 as on Dec 3, 2007.

Power Grid Corporation

The Rs 2984.45-crore public issue of Power Grid Corporation hit the capital markets on October 5, 2007. The price band of the IPO was Rs 44-52 per share. The issue got overwhelming response and was subscribed by almost 10 times. The shares got listed at Rs 85 per share, 63 per cent more than the issue price.

Power Grid Corporation (PGCIL) is the country's principal electric power transmission company and has been designated a miniratna category-I public sector undertaking.

The scrip closed the trade on Dec. 3, 2007 at Rs 147.90.


Idea Cellular

In order to fund its expansion plans, the Aditya Birla Group-promoted Idea Cellular came out with a public issue to raise Rs 2,500 crore. The public issue was oversubscribed 49.51 times. The IPO was offered at a price band of Rs 65 to Rs 75 per share and the shares got listed on March 9, 2007 at Rs 92.40. The scrip gained 23% on debut.

Nearly 65.15% of the equity shares of Idea Cellular are held by companies belonging to Aditya Birla Group.

The scrip was quoted at Rs 122.65 as on Dec. 3, 2007


HDIL

The public issue of HDIL was offered at a price band of Rs 430-500 per share. The 3-crore sale was subscribed 6.6 times. The IPO got listed on July 24, 2007 at Rs 567.60.

Housing Development and Infrastructure Ltd (HDIL) is a real estate development company based in Mumbai. After listing, HDIL ranks third among realty companies in India.

On Dec 3, 2007, the scrip was quoting at Rs 822.40.


Omaxe

The Rs 552-crore IPO of Omaxe was offered at a price band of Rs 265-310 per share. Omaxe shares, oversubscribed 68 times, were listed at Rs 400 on August 9, 2007, 29% above its offer price.

Omaxe is a real estate development and construction company with operations in 30 cities and 9 states across the country. Omaxe's operations span across all aspects of real estate development, from the identification and acquisition of land, to the planning, execution and marketing of projects.

As on Dec. 3, 2007, the stock was trading at Rs 434.


v

Central Bank of India

Central Bank of India came out with a public issue with a price band of Rs 85 to Rs 102 per share. The Rs 816-crore issue was oversubscribed by 62.07 times. The shares got listed on August 21, 2007 at Rs 130.10 with a premium of 27.5% to its issue price.

Incorporated in 1911, Central Bank of India is a premier public sector bank with branches in 27 out of 28 States and also in 4 out of 7 Union Territories.

The stock price was quoting at Rs 135.30 as on Dec 3, 2007.


ICRA

The Rs 85-crore public issue of ICRA hit the capital markets with a price band of Rs 275-330 per share. The ICRA public issue, oversubscribed by 75 times, made a grand debut on April 13, 2007 at Rs 550 on the NSE and ended the day's trade with a gain of 143.5%.

Established in 1991 by a consortium of financial institutions, commercial banks and financial services companies, ICRA is one of the four credit rating agencies in India providing a wide range of products and services.

The scrip closed the trade on Dec. 3, 2007 at Rs 955.45.


Motilal Oswal Financial Services

Motilal Oswal Financial Services came out with a public issue on September 11, 2007. The price band of the IPO was Rs 725 to Rs 825. The company's shares, oversubscribed 27 times, were listed at Rs 999, recording a premium of 21.09%.

Motilal Oswal Financial Services Ltd is a diversified financial services firm offering a range of financial products and services such as retail wealth management, portfolio management services, institutional broking, venture capital management and investment banking services.

On Dec 3, 2007, the scrip was quoting at Rs 1728.


Indian Bank

The Chennai-headquartered Indian Bank had made a dramatic turnaround and was keen to enter the equity markets at the right time. The IPO, to raise Rs 782 crore, was issued in the price band of Rs 77 to Rs 91 per share. The shares were oversubscribed 57.1 times and got listed on March 1, 2007 at Rs 85 on the NSE and Rs 92.4 on the BSE.

Incorporated on March 5, 1907, Indian Bank is a leading public sector banking institution with the largest network of branches in Tamil Nadu. It was nationalised in 1969, along with 13 other major commercial banks.

The scrip closed the trade on Dec. 3, 2007 at Rs 190.85.


Cairn India

Cairn India tapped the equity markets to raise Rs 6,247 crore. The IPO was offered in the price band of Rs 160 to Rs 190. The issue, oversubscribed by 1.35 times, got listed on January 9, 2007 at Rs 140 per share.

Cairn India closed Day 1's trade 14 per cent below the issue price due to the unenthusiastic response to the issue, concerns about the quality and evacuation of the company's crude and falling global crude prices.
Cairn India, promoted by Cairn Energy Plc, is engaged in the exploration, development, and production of oil and gas in India.

The stock price was quoting at Rs 214.95 as on Dec 3, 2007.



No comments: