An eye on the IPO market. For what's up in corporate sector in india please also check: http://corporateradar.blogspot.com/
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 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
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
Sunday, September 20, 2009
Euro Multivision to hit capital markets with solar back-up
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.
