Shekhawati Poly-Yarn to list its initial public offer (IPO) to BSE NSE Stock Exchange for 1.2 crore equity shares on December 27 with a target of Rs 36 crore at fixed price of Rs 30 per share : IPO buying tips, update, allotment, subscription, status and prospectus

Textile firm Shekhawati Poly-Yarn is entering capital market with its initial public offer (IPO) of 1.2 crore equity shares on December 27. The company aims to raise Rs 36 crore through IPO at fixed price of Rs 30 a share.
The issue will constitute 54.54% of the fully diluted post issue equity share capital of the company. 

Shekhawati is presently engaged in manufacturing of texturised and twisted yarn. Now it proposes to commence manufacturing of Knitted Fabric from Texturised Yarn, being one of the objects of the proposed public issue.
Issue proceeds are proposed to be used for buying new 30 twisting machines and installation of new 30 knitting machines; buying corporate office at an estimated cost of Rs 325 lakh and working capital requirements.
After this expansion, the company will have 35 machines for twisting yarn with capacity of 4,620 MTPA, 30 machines for knitting yarn with 1,980 MTPA and 20 for texturising yean with capacity of 27,400 MTPA.
Hem Securities Limited is the book running lead manager to issue.

src: MC

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A2Z Maintenance and Engineering Services will list its IPO equity shares on NSE BSE stock exchange on DEC 23 with an issue price at lower end of price band of Rs 400-410 a share: IPO Allotments, price, subscription, status and prospectus

Engineering, procurement and construction (EPC) services provider A2Z Maintenance and Engineering Services will be listing its equity shares on exchanges on December 23. It has fixed an issue price at lower end of price band of Rs 400-410 a share.
The issue was just managed to sail through, which was subscribed 0.96 times

The company raised Rs 776.25 crore through IPO of 1,94,07,750 equity shares; it consists of fresh issue of Rs 675 crore and offer for sale of Rs 101.25 crore. Earlier it had aim to raise around Rs 860 crore.
The company will not receive any proceeds from the offer for sale. Fresh issue will be used for investment in three biomass (bagasse)-based power cogeneration projects of 15 MW each in the State of Punjab; investment in five biomass-based power generation projects of 15 MW each in the State of Rajasthan; investment in subsidiaries; repayment of a loan granted by L&T Infrastructure Finance Company Limited (L&T Infrastructure Finance) to the company; and working capital requirements.
A2Z Maintenance provides services to the power transmission and distribution sector with a focus primarily on the distribution segment. 
src MC

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Faster (2010) (In Hindi) Watch Free Movie Online and Download full Movie and Movie Review, cast, writer and Download Movie Poster

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Dwayne Johnson    …     Driver
Mauricio Lopez    …     Prison Guard
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The Chronicles of Narnia – The Voyage of the Dawn Treader (2010) (In Hindi) Watch Free Movie Online and Download full Movie and Movie Review, cast, writer and Download Movie Poster

Starring:
Georgie Henley     …     Lucy Pevensie
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Shares of Claris Lifesciences settled at Rs. 205.85 on BSE, a 9.71% discount to the initial public offer price of Rs. 228. The stock debuted at Rs. 224.40, a 1.58% discount to the initial public offer (IPO) price. The stock hit a high of Rs. 227.90 and a low of Rs. 198.10. On BSE, 1.54 crore shares were traded on the counter, Stock Price, date, allocation, allotment, subscription, status and prospectus

The initial public offer of Claris Lifesciences was subscribed 1.5 times. The IPO got bids for 1.61 crore shares, compared with 1.07 crore shares on offer.

The qualified institutional investors (QIB) category was subscribed 1.31 times, the non-institutional investors category, comprising high networth individuals and corporates, was subscribed 2.03 times and the retail investors portion was subscribed 1.6 times.

The company had slashed the price band for the IPO and had also extended the IPO closing date after a poor response to the issue. The IPO, which was to initially end on 26 November 2010 was extended till 2 December 2010. The company had slashed the IPO price band to Rs. 228-235 per share from earlier Rs. 278-Rs 293.

Claris Lifesciences, on 23 November 2010, raised Rs. 54 crore by selling 18.43 lakh shares to four anchor investors at Rs. 293 per share.

Claris Lifesciences plans to utilise the IPO money to set up a new manufacturing unit, a research and development unit and for pre-payment of a term loan. The Ahmedabad-based firm is one of the largest Indian sterile injectables pharmaceutical companies.

Claris Lifesciences reported a consolidated net profit of Rs. 57.73 crore on total sales of Rs. 324.95 crore for the five month ended May 2010. 

Arjun Handa, managing director and CEO, said the Rs 300 crore raised through its initial public offer (IPO) would be utilised for increasing its manufacturing capacity and other expansion plans.

The leading sterile injectables pharmaceutical company had fixed a price band of Rs 278-293 for its public offer. However, since the company received a lukewarm response, it had extended the closing date of the IPO and also lowered its price-band to Rs 228-Rs 235.

The company plans to set up a new plant comprising a small volume parenterals line, a PVC bag line, a non-PVC bag line and a fat emulsion line. “We would be setting up a new manufacturing line for propofol and other fat emulsion products at our existing plant, Clarion IV and also construct a facility for research and development at our Clarion manufacturing facilities,” Handa said.

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Infrastructure firm Abhijeet Group's Initial Public Offerings (IPO) Stock Price, date, allocation, allotment, subscription, status and prospectus

Nagpur-based infrastructure firm Abhijeet Group plans to raise about Rs 1,500 crore fresh equity through an initial public offering to part finance its expansion plans including those in power sector.

It would file the draft papers in this regard with Securities and Exchange Board of India (SEBI) this month.

"We are planning to hit the market in April, next year...file the papers with SEBI by the end of this month and expecting to raise about Rs 1500 crore," Abhishek Jayaswal, MD, Abhijeet Group said in a telephonic interview.

The company which funds its projects at a debt equity ratio of 80:20 has tied up loans from Axis Bank , SBI , Punjab National Bank , Rural Electrification Corp and Power Finance Corp.

The company recently signed a $2.5 billion deal with the Chinese power equipment maker DongFang for sourcing equipment for its power projects.

"We have signed a BTG (boiler, turbine, generator) and EPC (engineering, procurement, construction) contract for our thermal power projects in Bihar, Jharkhand and Madhya Pradesh with DongFang," Jayaswal said.

The proceeds from the IPO would also be used to finance this deal with the Chinese firm.

At present the company has a power generation capacity of the company of 100 MW with its projects in West Bengal and Maharashtra.

It plans to increased this capacity to 300 MW by the end of the current financial year.

"We would have a capacity of 300 MW by March, 2011," Jayaswal said.

The Nagar based Group has interest in core sectors such as power, mining, roads, steel etc.

Dongfang Electric Corporation Limited is a Chinese Government holding company specialising in power equipment manufacturing.

It also focuses on worldwide power projects, contracting for thermal, hydro, nuclear, wind, solar, gas turbine, and combined cycle power plants. 
src:ET

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The Hero Group announced that it would buyout the entire 26 per cent stake of its partner Honda Motor Company Group in Hero Honda, India's No.1 bike manufacturer, thus breaking its 26-year-old partnership with the Japanese auto major.

The Hero Group on Thursday announced that it would buyout the entire 26 per cent stake of its partner Honda Motor Company Group in Hero Honda, India's No.1 bike manufacturer, thus breaking its 26-year-old partnership with the Japanese auto major.

Without disclosing the size of the deal, a company release said: “The decision to restructure the equity has been reached in a cordial and amicable manner…As per the MoU, Hero Group will buy the entire 26 per cent equity stake of Honda Motor in Hero Honda Motors Ltd (HHML) in a phased manner from two or more qualified promoters. Upon completion of the transaction, Hero Group will be the sole promoters of the company.”

It was in 1984 that the Hero Group joined hands with Honda Motor Co. to become not only India's but also world's largest two-wheeler manufacturer.

In 2009-10, Hero Honda had sold 46-lakh two-wheelers, capturing 48 per cent of the Indian two-wheeler market, which is the second biggest in the world after China.

“This is the most important announcement I have made in the last 25 years... The board has approved an MoU between Hero Honda and Honda. The two companies will sign a definitive agreement within the next few weeks. Now, with this new arrangement, we are set to charter new segments and geographies and develop new products. This marks the beginning of a revitalised journey of growth for the company and its people and business associates,” HHML Managing Director and CEO Pawan Munjal told journalists here.

Hero Honda will continue to produce and sell the existing models, while new models would be also launched. However, all future products will be rolled out under the new licensing agreement between Hero Group and Honda. Hero Honda brand name will also be changed over time.

Commenting on the deal, Honda Managing Director and COO, Regional Operations (Asia and Oceania), Fumihiko Ike said: “In order to assure service to the customers, Honda will grant the necessary licence to enable continued production and sales of current products as well as licence for new products.” Declining to share the deal value, Mr. Munjal said: “Royalty (to Honda) will remain in line or even lower...it is incorrect that royalty will go up to 8 per cent.” The royalty paid in 2009-10 on an average stood at 2.3 per cent to 3 per cent of sales.

The new licensing arrangement signed between the Hero Group and Honda Motor Co., Japan, would also enable higher growth by giving it (Hero Group) the freedom to develop its own research and development capabilities and exploit global export and manufacturing opportunities.

The two-wheeler major will also start exporting products across the globe and look for manufacturing opportunities.

“Hero Honda can go out and can make its presence felt globally,” Mr. Munjal said, adding that the company could now establish distribution networks across the globe. 

src: TH

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