Tuesday, May 3, 2011

Aanjaneya Lifecare IPO price band fixed at Rs 228-Rs 240

Mumbai, May 03: Aanjaneya Lifecare Limited, a vertically integrated pharmaceutical company, is entering the Indian Capital Markets with its Initial Public Offer  of 50,00,000 Equity Shares of Rs. 10 each for cash at a price band of Rs 228  to Rs 240.

The Issue will be through a 100% Book Building process which will constitute 39.76 % of the fully diluted post issue paid-up capital of the Company. Not more than 50% of the Issue shall be allocated on a proportionate basis to qualified institutional buyers (QIBs), not less than 15% of the Issue shall be available to non-institutional bidders and not less than 35% of the Issue shall be available to retail individual bidders.

The Company would use the proceeds of the issue for the following purposes:

1. Setting up of Anti Cancer API Facility at Mahad, Maharashtra
2. Setting up of cGMP Block for APIs at Mahad, Maharashtra
3. Setting up of Intermediate API Block at Mahad, Maharashtra
4. Expansion of its existing Research and Development centre at Mahad and Pune, Maharashtra
5. Setting up of a Quality Control and Quality Assurance Block at Mahad, Maharashtra
6. Setting up of Product Development Laboratory at Mahad, Maharashtra
7. Setting up of Stores Building at Mahad, Maharashtra
8. Meeting the Expenses for Branding and Registration of Products in the International Markets

Anand Rathi Advisors Limited and IDBI Capital Market Services Limited are the Book Running Lead Managers to the Issue.

About Aanjaneya Lifecare Limited:

Aanjaneya Lifecare Limited (the “Company) is a vertically integrated pharmaceutical company with manufacturing and marketing capabilities in APIs (Active Pharmaceutical Ingredients) with focus on anti-malarial, and Finished Dosage Forms (FDFs) catering to various therapeutic segments. The Company’s present product portfolio consists of second generation, quinine based anti malarial APIs and third generation artemisinin based anti malarial APIs, niche API’s and FDFs. In the formulation segment, as contract manufacturer, the Company supply to companies like Wockhardt, Cipla, Glenmark etc. In its own branded generic segment, the Company is offering products like Anjtil, Rankorex, Doktor Qure, Prosils, LivChek, Herbal Drops and Esyhil. Further, in 2011, the Company has also launched products like Aanrich, Actipros, Ulsacare, Apticatch, Anjeniya Curcumacare, and Nicco-nil amongst others.

The total income of the Company has grown from Rs. 2,238.43 lacs in FY 08 to Rs. 16,935.66 lacs in FY 10 at a CAGR of 175.06 %. The Profit after tax of the Company has grown from Rs. 231.90 lacs in FY 08 to Rs. 1,507.93 lacs in FY 10 at a CAGR of 155.01 %. The total income and profit after tax of the Company for the ten month period ended January 31, 2011 was Rs. 29,257.61 lacs and Rs. 3,111.19 lacs respectively.

Saturday, November 21, 2009

Sahara Prime City targets to raise Rs 3,450 cr, files DRHP




Mr. Subrata Roy Sahara led Sahara group has braced up for its maiden IPO with its realty arm Sahara Prime City Limited (SPCL) by filing its Draft Red Herring Prospectus (DRHP) with SEBI to raise close to Rs 3,450 cr.

SPCL plans to use the IPO proceeds, estimated to over Rs 3,450 crores including green shoe option, for its ambitious residential and commercial projects in 99 cities across the country. Sources said the company plans to issue shares at a face value of Rs 10 each at a price band to be decided later to raise above money.

Enam Securities Private Limited, JM Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited are the Global Coordinators and Book Running Lead Managers for the issue. Edeliweiss Capital Limited, IDBI Capital Market Services Limited and Daiwa Securities SMB India Private Limited are the Boor Running Lead Managers.


SPCL is one of the largest real estate development companies in India, based on the size of its Land Reserves available for development and number of locations in which these Land Reserves are located, which consist of approximately 8,484.65 acres of land, including 4,194.10 lacs square feet of saleable area, which SPCL own or for which SPCL hold contractual development rights.  Its 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 name across 99 cities in India. 


An integrated township typically will consist of a gated community with residential units in the form of apartment towers, townhouses and individual houses together with ancillary facilities such as schools, a hospital, a hotel, retail and leisure facilities.  Its residential complexes typically will be smaller scale developments comprised solely of residential units.  The primary source of revenue of company is expected to be from the construction and sale of residential units within its integrated townships.
SPCL currently have construction under way for nine integrated townships and one residential complex, which in the aggregate are planned to comprise approximately 547.10 lacs square feet of saleable area, 85.00 lacs square feet of which is already under construction.  SPCL plan to deliver the residential units from 2011 in its integrated townships in Indore, Nagpur and Lucknow.  SPCL refer to these 10 projects under development, for which land or land development rights have been fully acquired and construction has commenced, as Ongoing Projects.  
SPCL have an additional 16 integrated townships for which SPCL expect to commence construction within the next 12 months, which SPCL refer to as Forthcoming Projects, which in the aggregate are currently planned to comprise approximately 884.70 lacs square feet of saleable area. 

SPCL refer to its remaining 77 projects as Upcoming Projects, which in the aggregate are currently planned to comprise approximately 2,762.30 lacs square feet of saleable area.

SPCL is part of the Sahara Group, a major business conglomerate in India.  The Sahara Group has operations in multiple sectors, including real estate, infrastructure and housing, financial services, housing finance, mutual funds, life insurance, print and television media and film production and distribution, information technology, medical, tourism hospitality and consumer products.  The Sahara Group was founded in 1978 and has grown to an asset base of approximately US $12.0 billion to date.  Over the past 10 years, the Sahara Group has completed four township projects under the “Sahara States” brand name, located in Lucknow, Hyderabad, Bhopal and Gorakhpur. During that same period, the Sahara Group completed two residential complexes, in Gurgaon and Lucknow, under the “Sahara Grace” brand name, two additional residential projects in Gorakhpur and Lucknow and five retail centers, for a total saleable area of 110.53 lacs square feet.  This total saleable area was comprised of approximately 68.16 lacs square feet of residential area, approximately 23.82 lacs square feet of retail and commercial area, approximately 8.00 lacs square feet of healthcare-related area and approximately 10.55 lacs square feet of hospitality-related area. 

The Sahara Group also has developed approximately 150.00 lacs square feet of saleable area, including facilities to be operated by the Sahara Group or leased to third parties, at Aamby Valley City, a large scale luxury township project.  In addition, the Sahara Group has developed approximately 85 kilometers of roads, 350 acres of landscaped area, an airport at Aamby Valley City with a 1,200 meter runway, 12 power stations, three dams and 11 artificial bodies of water.

Through a wholly owned subsidiary, SPCL own and operate the Sahara Hospital, which opened in Lucknow in February 2009.  In addition, through another subsidiary, SPCL also operate the Sahara Star hotel, located adjacent to the Mumbai domestic airport.

With these mega plans and its past record SPCL has presented a unique business model in real estate industry and it will be an interesting story to follow.

Tuesday, October 27, 2009

Astec LifeSciences IPO opens on Oct 29th: Price band Rs 77-Rs82



Mumbai, October 27, 2009: Agro chemical and Pharma Company Astec LifeSciences Limited will enter the capital market with its IPO of 75, 00,000 Equity Shares of Rs 10 each on October 29, 2009. The IPO closes on November 04, 2009. The price band of the IPO has been fixed at Rs.77 to Rs. 82.


Of the 75 lakh shares, equity shares up to 1, 00,000 will be reserved for the company’s employees. This Issue is being made through a 100% Book Building Process. Almondz Global Securities Limited are the book running lead managers.
The main purpose of the IPO is to raise funds for the company’s expansion plans for its production and R&D units in Maharashtra. Astec plans to expand the production capacity of its unit in Mahad from the current 2800 Metric Tonnes to 3950 Metric Tonnes. The company will also upgrade its R&D facility at Dombivli near Mumbai which will enable them to carry out research on more complex molecules and to undertake contract research activities. The proceeds of the IPO will also be utilized to register two products in Brazil and six products in India.
Astec LifeSciences is engaged in the manufacture and sale of intermediates, active ingredients and formulations in the off patent–proprietary category with a focus on agrochemical and pharmaceutical Industry. The company carries out its manufacturing activities at two locations in Maharashtra, India comprising of three units. The Company has a team of 10 chemists who are engaged in research and development activities. Recognized by the Department of Science and Industrial Research, the R&D unit of Astec LifeSciences has been able to develop processes for various new products like Tebuconazole, Propiconozole and Metalaxyl. Astec LifeSciences has been granted ISO 9001:2000 Certificate of Assessment by International Standards Certification Pty limited, Australia for “Design, Development, Manufacture and Supply of Organic Chemical and Intermediates for Pharmaceutical and Agrochemical Industry”. 
About Astec LifeSciences:
Astec LifeSciences is one of India’s leading producers of Agrochemical and Pharmaceutical products engaged in the manufacture and sale of intermediates, active ingredients and formulations in the off patent–proprietary category with a focus on agrochemical and pharmaceutical Industry. With three manufacturing units in two locations, Astec believes in producing a diversified range of products catering to the needs of a wide range of customers.  The company has been granted ISO 9001:2000 Certificate of Assessment by International Standards Certification Pty limited, Australia for “Design, Development, Manufacture and Supply of Organic Chemical and Intermediates for Pharmaceutical and Agrochemical Industry”.

Tuesday, September 22, 2009

Pipavav Shipyard fixes IPO price at Rs 58 - Issue subscribed 9 times; Most bids came in at upper end of price band - Rs 60

MUMBAI, September 22, 2009: India’s largest dockyard Pipavav Shipyard fixed the issue price at Rs 58, Rs 2 lesser than the upper end of its price band at which most of the bids through 100% book building process came in.
Reflecting tremendous confidence among investors across the board, the IPO was subscribed almost 9 times on Friday when the issue closed. Data available with the stock exchanges shows that the retail investors flocked to the IPO with the segment registering subscription three times. The QIB segment was subscribed eleven times and the non-institutional portion 15 times. The employee portion was almost fully subscribed.
Building India’s largest dry dock and world class multi-sector fabrication facility, Pipavav Shipyard hit the capital market on the last Wednesday with a bang as the issue was fully subscribed within the 1st hour.
The company targeted to raise over Rs 510 crores with the issue of over 85.45 million equity shares of Rs 10 each with a price band of Rs 55-Rs 60. The company intends to use the IPO proceeds for Construction of facilities for shipbuilding, ship repair and the Offshore Business among other things.
JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited, Enam Securities Private Limited and SBI Capital Markets Limited, are the book running lead managers and Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Private Limited are the co-book running lead managers.
Pipavav Shipyard enjoys a strong order book position of 34 ships – 22 Panamax size huge dry bulk carriers for 3 European shipping companies and 12 OSVs for ONGC. It has also bid for 7 naval vessels.
Pipavav Shipyard will focus on building ships for the Indian navy and coast guard. In addition, Pipavav Shipyard intends to utilize its shipbuilding facilities to repair a wide range of vessels, including VLCCs and OSVs, and other specialty vessels such as LNG carriers.
Its dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. Installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, is also in progress.


Sunday, September 20, 2009

Euro Multivision to hit capital markets with solar back-up


MUMBAI: Seeking to diversify into solar energy space, India’s 2nd largest manufacturer of CDRs and DVDRs Euro Multivision Ltd will enter the capital market with its IPO of 8.8 million equity shares of Rs 10 each, with a price band of Rs 70-75, on September 22, 2009. The issue, which closes on September 24, 2009 is on a 100% book building process.
Of the 8.8 million shares, equity shares up to 200,000 will be reserved for the company’s employees. The net issue will constitute 36.97% of the company’s post issue paid up capital. Anand Rathi Advisors Limited are the book running lead managers.
The main purpose of the IPO is to raise resources for the company’s photovoltaic solar cell manufacturing unit in an SEZ at Bhachau in Gujarat’s Kutch district. The plant, being built at a cost of Rs 178.03 crores, will have a capacity of 40MW per year.
“This new field of business is synergistic with Company’s existing businesses and we will leverage on our core competencies in the areas of precision high technology, mass manufacturing, and project management,” said Mr Hitesh Shah, MD, Euro Multivision Limited.
“As one of the early entrants in this space, EML is well-positioned to leverage this growing business opportunity. EML is targeting one segment in the PV value chain that is most attractive from a synergy standpoint, since it leverages the company’s manufacturing competencies,” Mr Shah added.
The company has already acquired 28.75 acres of land for setting up the SEZ adjacent to the existing manufacturing unit at Bhachau, District- Kutch, Gujarat. The Company has also received its SEZ Notification on April 23, 2009 and the same was published in the Gazette of India.
As regards to the Plant & Machinery required for the proposed photovoltaic unit, the Company has a contract with OTB Solar B.V (The Netherlands), for selling and designing, delivering, installing, testing, and mechanically commissioning the Solar Cell Production Line at a fixed price of EURO 13,220,000.
The company’s diversification comes in the backdrop of increasing awareness about and reliance on renewable sources of energy, including solar photovoltaic, solar thermal, small hydro and biomass power. Under the BAU (Business As Usual) scenario the contribution of renewable forms of energy is expected to be quite modest, but a concerted effort to implement a more visionary plan could significantly alter this outcome.
Apart from reducing India’s dependence on imported fuels and the strain on the environment, some forms of renewable energy such as biomass power production and ethanol motor fuel offer the added advantage of potentially creating millions of rural employment opportunities and contributing to higher rural incomes, rather than higher outflows of foreign exchange. Tapping this potential will require conducive national policies and programmes designed to attract active participation from the private sector.
Energy is an essential building block of economic as well as overall development of the country. In an effort to meet the demands of a developing nation, the Indian energy sector has witnessed a rapid growth. Areas like the resource exploration and exploitation, capacity additions, and energy sector reforms have been revolutionized. However, resource augmentation and growth in energy supply have faced difficulties to meet the ever-increasing demands exerted by the multiplying population, rapid urbanization and progressing economy. Hence, serious energy shortages continue to plague India.
India's energy requirements are enormous and the demand is growing but our resources are limited both in physical and financial terms. It is a long term imperative that these resources are exploited optimally. India is attracting significant attention from major overseas project developers, equipment suppliers and financiers. However, there remain difficult issues to be resolved before these projects become a reality. (Source: http://www.bharatbook.com/India-Energy-Summit-2007.asp)
One of the possible solutions to this problem is Solar Energy. India receives solar energy equivalent to over 5,000 trillion kWh per year. The daily average solar energy incident varies from 4 -7 kWh per square meter depending upon the location. The annual average global solar radiation on horizontal surface, incident over India is about 5.5 kWh per square meter per day.
In India Solar Photovoltaic which is one form of Solar Energy comes under the Ministry of Renewable Energy.  As per official records, the annual turnover of the Renewable Energy Industry in the country, including the power generating technologies for Wind and other sources, has reached a level of over Rs. 30,000 million.
About Euromultivision Limited:
Euro Muiltivision Limited, part of EURO group promoted by Mr Nensi Shah, has emerged as the second largest company manufacturing CDRs and DVDRs (Source: Optical Disk Manufacturers Welfare Association). EURO group, started in 1995, that has presence across multi products such as Vitrified & Ceramic Tiles, Agglomerated Marble, Aluminium Section, Aluminium Composite Panels (Bond), Hardware & Sanitary ware Fittings, Plywood, Veneers, Laminates, Mica, Canfor, Imported Furniture, Sponge Iron, CDR, DVDR, Glass Articles, Dry Battery Cell and Wooden Flooring and spread over various parts of India.
Euro Multivision limited was incorporated on April 29, 2004 and has set up a plant for the manufacture of Compact Disc Recordables (CDRs) and Digital Versatile Disc Recordables (DVDRs). It has commenced commercial production in April, 2005 with five manufacturing lines having an installed capacity of 720 lac units of CDRs and 72 lac units of DVDRs a year. After successfully operating five lines in the first year of its commercial operation, the company expanded the capacity by adding another five manufacturing lines in the second half of financial year 2006-07 taking the total to 10 manufacturing lines with a total installed capacity of CDRs to 1800 lac units a year. These lines are interchangeable and are convertible to manufacture DVDR as and when the requirement arises. Also these lines are compatible for manufacturing of pre recorded CD’s and DVD’s. In the same financial year, the DVDR manufacturing line was converted into CDR manufacturing line. The CDR production is fully stabilized and is operating on full capacity.
Our manufacturing facility is situated at Taluka Bhachau, District- Kutch, Gujarat. Our manufacturing facility is fully automated with least human intervention, which ensures international quality standards with optimum utilization of installed capacities. The major parts of the said manufacturing facility are procured from VDL ODMS B.V, Netherlands which is one of the leading suppliers for CDR manufacturing technology. Further, our manufacturing facility operates in Class 10000 (class 10,000 clean rooms, which enable us to produce clean, sterile, aseptic and dust-free products and components) environment and is completely powered by our Captive power plant for uninterrupted power supply.

Saturday, September 19, 2009

Pipavav Shipyard IPO subscribed 8.24 times amid strong retail response

MUMBAI: Reflecting the mood upbeat among investors across the board, the IPO of India’s largest dockyard Pipavav Shipyard was subscribed 8.24 times with the retail segment getting subscribed more than twice.

While the counting was still on till late in the evening yesterday, data available with the stock exchanges shows that the retail investors flocked to the IPO with the segment registering subscription 2.70 times. The QIB segment was subscribed 10.63 times, HNI-14.80 times. The employee portion was also fully subscribed.

Building India’s largest dry dock and world class multi-sector fabrication facility, Pipavav Shipyard hit the capital market on Wednesday with a bang as the issue was fully subscribed within the 1st hour.

The company targeted to raise over Rs 510 crores with the issue of over 85.45 million equity shares of Rs 10 each with a price band of Rs 55-Rs 60 through a 100% book building process. The company intends to use the IPO proceeds for Construction of facilities for shipbuilding, ship repair and the Offshore Business among other things.

JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited, Enam Securities Private Limited and SBI Capital Markets Limited, are the book running lead managers and Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Private Limited are the co-book running lead managers.

Pipavav Shipyard enjoys a strong order book position of 34 ships – 22 Panamax size huge dry bulk carriers for 3 European shipping companies and 12 OSVs for ONGC. It has also bid for 7 naval vessels.

Pipavav Shipyard will focus on building ships for the Indian navy and coast guard. In addition, Pipavav Shipyard intends to utilize its shipbuilding facilities to repair a wide range of vessels, including VLCCs and OSVs, and other specialty vessels such as LNG carriers.

Its dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. Installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, is also in progress.

Wednesday, September 16, 2009

Pipavav Shipyard IPO opens with a bang - Issue fully subscribed within 1st hour

MUMBAI, September 16, 2009: The IPO of India’s largest dockyard Pipavav Shipyard opened with a bang today with the issue getting fully subscribed within the 1st hour. According to information available with the stock exchanges, the issue was subscribed nearly 2.67 times by 5 PM today.

Building India’s largest dry dock and multi-sector fabrication facility, Pipavav Shipyard hit the capital market targeting to raise over Rs 510 crores. The issue of over 85.45 million equity shares of Rs 10 each with a price band of Rs 55-Rs 60 through a 100% book building process closes on Friday.

The company yesterday received commitment of Rs 92 crores from six top anchor investors ahead of the IPO yesterday. The anchor investors - Batterymarch Financial Management Inc. A/C Legg Mason Emerging Markets Trust, Commonwealth Equity Fund Limited, California Public Employee’s Retirement System managed by Batterymarch Financial Management Inc, GI India II, India Diversified (Mauritius) Limited and Marshal India Select Fund Limited - subscribed to the IPO at Rs 60 each - the higher end of the price band.

The company intends to use the IPO proceeds for Construction of facilities for shipbuilding, ship repair and the Offshore Business among other things.

Pipavav Shipyard enjoys a strong order book position of 34 ships – 22 Panamax size huge dry bulk carriers for 3 European shipping companies and 12 OSVs for ONGC. It has also bid for 7 naval vessels.

Pipavav Shipyard also intends to focus on building ships for the military and the government, initially focusing on vessels for the Indian navy and coast guard. In addition, Pipavav Shipyard intends to utilize its shipbuilding facilities to repair a wide range of vessels, including VLCCs and OSVs, as well as naval, coast guard and other specialty vessels such as LNG carriers.

Its dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. Installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, is also in progress.