Kolte-Patil IPO - Withdrawal option

Investors to the initial public offering have been given an exit option up to December 4, as directed by SEBI since the notice disputing the company's land reserves has been issued after the date of red herring prospectus. Kolte-Patil has issued an addendum to the RHP this week, disclosing the details of this litigation. The company has also stated that the price band of Rs 125-145 is not primarily based on this project.

Effect on valuation and other details available at http://www.thehindubusinessline.com/2007/11/28/stories/2007112852011700.htm

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eClerx Services Limited IPO

Incorporated in 2000, eClerx Services Limited is one of the leading company according to Business Today magazine in the last three years amongst a list that included some of the largest Indian companies. eClerx Services Limited provides data analytics and customized process solutions to global enterprise clients. eClerx services includes operations management, data audits, metrics management, data analytics and reporting services.

Objects of the Issue:

# The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for Long term working capital requirements.

# Expand production capacity by establishing additional facilities.

# Infrastructure investments.

# General corporate purpose

Open	Dec 04, 2007 to Dec 07, 2007
Type	100% Book Built Issue
Size	Rs. 1,010 million
Price	Rs. 270/- to Rs. 315/- Per Equity Share
Listing At	BSE, NSE
Lead Manager(s)	Edelweiss Capital Ltd, JM Financial Consultants Pvt Ltd
Registrar	Karvy Computershare Pvt Ltd

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BGR Energy System (India) Ltd - IPO opening on Dec 05

BGR Energy System (India) Ltd is entering the capital markets with an initial public offering, IPO of 13,456,000 Equity Shares, for cash, at a premium to be decided through a 100% Book Built Issue.

Incorporated in 1985, BGR Energy System (India) Ltd is an India based company involve in manufacturing and selling a range of equipment, systems and services to the power and process industries.

The price band for the issue has been fixed at Rs. 425/- at lower level and Rs. 480/- at upper level for equity share of Rs. 10/-. The issue opens on Dec 05, 2007, and closes for subscription on Dec 12, 2007. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Objects of the Issue:

1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for Long term working capital requirements;

2. Expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East.

Public Issue Open	Dec 05 to Dec 12, 2007	Public Issue Type	100% Book Built Issue)
Public Issue Size	13,456,000 Equity Shares of Rs. 10/-	Public Issue Price	Rs. 425/- to Rs. 480/- Per Equity Share
Listing At	BSE, NSE
Lead Manager(s)	SBI Capital Markets, Kotak Mahindra Capital, UBS Securities India and CLSA India	Registrar	Intime Spectrum Registry Ltd

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Burnpur Cement IPO – Experts say do not apply

Based on not good existing performance, low EPS of Re 1, long debtor cycle and struggling to survive, the experts are saying this issue can be given a skip.

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JYOTHY LABORATORIES LIMITED – Subscribed 45.83 times

Despite lacklustre performance till yesterday, JYOTHY LABORATORIES LIMITED IPO ended up with 45.83 times subscription with retail segment getting subscribed 14.67 times. That means that the retail investors who have applied for maximum possible 140 shares may get a firm allotment of 10 shares.

 

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Listing - Empee Distilleries Limited, Reliance Gold Exchange Traded Fund & others

Today there were number of new listings (All are NSE Rates):

Symbol	EDL	RMCL	ALKYL AMINE	JMCPR OJECT	RELGOLD
Name of the security	Empee Distilleries Ltd	Radha Madhav Corporation Ltd	Alkyl Amines Chem Ltd	JMC Projects (India) Ltd	Reliance Gold Exchange Traded Fund
Open	462.3	124.55	109.25	595	1069
High	479	124.55	113.65	606	1069
Low	303.1	121.05	84.05	508	1025
Last Price	316	124.55	113.65	510	1057
Prev. Close	440	113.5	9.1	20.5	1017.75
Change	-124	-	4.4	-85	39.25
% Change	-28.18	-	4.03	-14.29	3.86
Average Price	343.87	124.38	99.48	532.3	1050.97

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Jyothy Laboratories IPO – Open for subscription

Jyothy Laboratories IPO opened for subscription on Thursday. The share with face value of Rs 5 each is offered at a price band between Rs 620 and Rs 690 per equity share. After lacklustre first day, second day collection was 0.03 times.

Details:

Jyothi Laboratories Limited IPO Information:
Public Issue Open	22-27 Nov 2007	Public Issue Type	100% Book Building
Public Issue Size	4,430,260 shares	Listing At	BSE, NSE
Face Value	Rs. 5	Public Issue Price	Rs. 620/- to Rs. 690/-
Market Lot	10 Shares
Lead Manager(s)	Kotak Mahindra Enam Financial	Registrar	Intime Spectrum Registry Ltd

As per India Infoline, Jyothy Labs well placed for healthy growth. As per India Infoline report:

Jyothy Laboratories (JLL) is an FMCG company making a range of branded products, including fabric whiteners, mosquito repellents, dish-washing soaps, soaps and incense. Its key brands are Ujala, Maxo, Exo, Jeeva and Maya.

Investment summary

* Ujala is a well-known brand of fabric whitener, with dominant market share of approximately 72% in the category

* Local presence and wide distribution reach

* Targets the rural market

* Entering into new joint-venture initiatives

Risks and concerns

* Heavily depend on two biggest brands, Ujala and Maxo which contribute 43.6% and 35.4% of its total sales respectively (as on 30 June 2007).

* Dependence on outsourced production through third parties. Any disputes or disagreements may affect their business.

* The company is susceptible to seasonal variations in demand for its products.

Valuations attractive in comparison to the peer group

At the issue price of Rs 620-690, JLL commands an inexpensive P/E (on relative basis) of 18.6x-20.7x based on FY07 EPS of Rs 33.3. The price/book ratio of 3.4x at Rs 690 is also at steep discount to peers. The company is well-placed for healthy growth, given its well-established brand equity, leadership in the fabric whitener segment and strategic alliances. We recommend to Subscribe in the issue.

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Barak Valley Cements Limited - Listing

Barak Valley Cements Limited (BVCL) listed on Friday. BVCL opened at 62.60 and reached a high of 67. It closes at 55.30 a 32% premium. Opening day price averaged 58.39.

Barak Valley Cements Limited (BVCL) IPO Listing details
IPO Listing Date	Friday, November 23, 2007
BSE Script Code	532916
NSE Symbol	BVCL
Listing in	B1 Group of Securities
ISIN	INE139I01011
Issue Price	Rs 42
Face Value	Rs 10

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Rathi Bars Limited IPO - Listing

Rathi Bars Limited listed on BSE on 23 Nov. It opened at Rs 38 (against issue price of Rs. 35), a meagre premium of 8% on issue price. It reached a high of Rs. 45 before closing at Rs. 31 which lower than issue price.

Poor listing of Rathi Bars was anyway expected considering the company.

Rathi Bars Limited IPO - Listing
IPO Listing Date	Friday, November 23, 2007
BSE Script Code	532918
Listing in	B1 Group of Securities
ISIN	INE575I01016
Issue Price	Rs 35-
Face Value	Rs 10-

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Allied Computers International (Asia) Limited IPO – Listing Date

Allied Computers International (Asia) Limited IPO - Listing Date
IPO Listing Date	Friday, November 23, 2007
BSE Script Code	532919
NSE Symbol	ACIASIA
Listing in	B1 Group of Securities
ISIN	INE335I01015
Issue Price	Rs 12-
Face Value	Rs 10-

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Kaushalya Infrastructure Development Corporation Limited – Final Subscription status

So finally Kaushalya Infrastructure Development Corporation Limited garnered 7.20 times subscription with retail investor bidding for 10.15 times of available shares in their segment whereas QIB showing lower interest with only 2.8 times subscription though Non-Institutional investors going for 17.27 times.

Thus does not like this IPO is going to give great returns to the investors.

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Mundra Port and SEZ Ltd IPO – Listing Date

Mundra Port and SEZ Ltd IPO listing date & info
IPO Listing Date	Tuesday, November 27, 2007
BSE Script Code	532921
NSE Symbol	MUNDRAPOR
ISIN	INE742F01034
Issue Price	Rs. 440
Face Value	Rs. 10

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Mundra Port and SEZ Ltd IPO Allotment Status

Allotment status for Mundra Port and Special Economic Zone Ltd IPO that was closed on November 07, 2007 is available at http://203.196.188.27/webapplication/site/display_application.asp

The issue had received bumper response and was oversubscribed by around 115.84 times with retail at 16 times.

Notice on registrar Intime Spectrum Registry Limited

As per information made available by ECS-Refund Banker AXIS BANK

Credit into respective account through ECS can be expected

In Mumbai by : 24/11/2007

Other than Mumbai by : 27/11/2007

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JYOTHY LABORATORIES LIMITED – First day subscription

JYOTHY LABORATORIES LIMITED IPO which opened yesterday did not draw any applications in any segment except few in retail segment.

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KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED – IPO Closes today

KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED IPO issue closes today. Till yesterday it is subscribed 1.83 times with retail segment subscribed 0.53 times. Somehow I am giving a miss to this IPO.

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KOLTE PATIL DEVELOPERS LIMITED – Closing today

KOLTE PATIL DEVELOPERS LIMITED IPO is closing today. Till yesterday it was subscribed 2.69 times with retail category fully subscribed.

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Varun Industries listed at 75% premium

Defying apprehension Varun Industries, listed at 105, up 75% over its issue price of Rs 60 and reached 140 (133%).

The stock is now hovering around 105.

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Religare Enterprises ends with 182% premium

Religare Enterprises ended the day at Rs 522, up 182%. The stock spurt to Rs 601 (a premium of 225% over its offer price of Rs 185) in early trade and remained above Rs 500 through the day despite negative sentiment across the market (the Sensex lost more than 670 points).

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Varun Industries Limited IPO Listing

Varun Industries Limited IPO
IPO Listing Date	Thursday, November 22, 2007
BSE Script Code	532917
NSE Symbol	VARUN
Listing in	B1 Group of Securities
ISIN	INE032G01012
Issue Price	Rs 60/-
Face Value	Rs 10/-

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Renaissance IPO subscribed 23.63 times

Initial public offering of Mumbai-based Renaissance Jewellery (RJL) was subscribed 23.63 times on closing. It received 125.82 million bids as against issue size of 5.32 million shares. A total of 18.17 million bids were received at the cut off price.

Retail segment is subscribed 10.5 times that mean the retail investor who applied for 475 or more will get a firm allotment for atleast one lot of 45 shares.

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RENAISSANCE JEWELLERY LIMITED – Subscription status

Renaissance Jewellery Limited which will close for subscription on 21 Nov is subscribed 1.64 with retail subscribed 50%.

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Grey Market premium

Latest Grey Market premium for IPOs

Company	Premium
Barak Valley	25+
Edelweiss Capital Limited	800+
Empee Distilleries Limited	50+
Jyothi Laboratories Limited	400+
Kaushalya Infrastructure Development Corpn.Ltd.	25+
Kolte-Patil Developers Ltd.	150+
Mundra Port	650+
Religare Enterprises	370+
Renaissance Jewellery Ltd.	90+
Varun Industries	80+

 

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IPO Roll – Current and Forthcoming issues

Current Issues

Company	Open Date	Close Date	Issue Price (Rs)
Renaissance Jewellery Ltd.	Nov 19, 2007	Nov 21, 2007	125-150
Kolte-Patil Developers Ltd.	Nov 19, 2007	Nov 22, 2007	125-145
Kaushalya Infrastructure Development Corpn.Ltd.	Nov 20, 2007	Nov 23, 2007	50- 60

Forthcoming Issues

Company	Open Date	Close Date	Issue Price (Rs)
Jyothi Laboratories Limited	Nov 22, 2007	Nov 27, 2007	620-690

 

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KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED – IPO open for subscription

Kaushalya Infrastructure Development Corporation Limited opened for subscription today though response was mild because of other biggies. First day subscription was meagre 0.01 times.

Details at http://www.investorsouk.com/ipo/2007/11/15/kaushalya-infrastructure-dev-corp-ltd-ipo/

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Religare Enterprises expected list at huge premium

It is being expected that Religare Enterprises to list around Rs. 550-600 today against issue price of Rs. 185. So may be those lucky investors who got allotment may want to book some profit.

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EDELWEISS CAPITAL LIMITED – Subscribed 111 times

Though EDELWEISS CAPITAL LIMITED got subscribed 111 times but retail category is subscribed 17 times only so atleast the investors who had applied for maximum possible shares i.e. 120 shares have good chance of getting one lot of 8 shares allotted. Category wise subscription status:

 Sr.No.    Category    No. of times of total meant for the category

1    Qualified Institutional Buyers (QIBs)     153.1465

2    Non Institutional Investors    164.3048

3    Retail Individual Investors (RIIs)    17.2171

4    Employee Reservation    10.1774

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Religare Enterprises Limited shares - Listing date

Religare Enterprises Limited shares are listing as follows:

Listing Date		Wednesday, November 21, 2007
BSE Script Code	532915	NSE Symbol	RELIGARE
Listing in	B1 Group of Securities	ISIN	INE621H01010
Face Value	Rs. 10	Issue Price	Rs. 185

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Allied Computers International (Asia) Ltd (ACi) – Allotment Status

Allied Computers International (Asia) Ltd (ACi) Allotment Status is available at http://www.bigshareonline.com/IPO/ipostatus.aspx however it is asking username and password similar to Varun Industries Allotment status.

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Varun Industries IPO Allotment Status

Varun Industries IPO Allotment Status is available at http://www.bigshareonline.com/IPO/ipostatus.aspx however it is asking username and password. We have sent mail to th registrar, will keep you updated.

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Burnpur Cement Limited - IPO

Incorporated in 1986, Burnpur Cement Limited (BCL) is a leading cement manufacturing company of eastern India. BCL has a good market share in West Bengal, Bihar and Jharkhand states. BCL has current production capacity of 1000 TPD. Burnpur Cement is a ISO - 9001 and IS 455 : 1989 certified company. BCL's existing plants are located at Kanyapur, Burdwan, West Bengal.

Objects of the Issue: To set-up a Integrated Clinkerisation and Cement grinding plant of 800 TPD capacity expandable to 1600 TPD in the Hazaribagh district of Jharkhand at Patratu Industrial Estate, for manufacturing Clinker, Ordinary Portland Cement (OPC), Portland Pozzolona Cement (PPC) and Portland Slag Cement (PSC).

 

Burnpur Cement Limited IPO
Issue Period	November 28, 2007 to December 03, 2007	Issue Price	Rs. 12-
Issue Size	3,18,25,100 Equity Shares	Listing	BSE and NSE
Issue Type	Fixed price issue	Book Running Lead Manager	SREI Capital Markets Limited
Face Value	Rs. 10/-	Name of the registrar	Niche Technologies Pvt. Ltd

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RENAISSANCE JEWELLERY LIMITED – IPO Open

RENAISSANCE JEWELLERY LIMITED IPO is open for subscription for now. This issue will remain open till 21 Nov.

Details of the issue are available at http://www.investorsouk.com/ipo/2007/11/15/renaissance-jewellery-limited-ipo-opens-on-november-19th-2007/

Opening day subscription is 0.78 times.

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KOLTE PATIL DEVELOPERS LIMITED – IPO Open

KOLTE PATIL DEVELOPERS LIMITED IPO is open now. It is open till 22 Nov.

Details are available at http://www.investorsouk.com/ipo/2007/11/15/kolte-patil-developers-limited-ipo/

This got subscribed 0.53 on opening day today.

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EDELWEISS CAPITAL LIMITED – IPO Subscription Status – Going very strong

EDELWEISS CAPITAL LIMITED is going strong and on the close penultimate day it is subscribed 13.79 times. Retail is subscribed 1.4 times already. I am surprisingly seeing that employee category is subscribed 5.6 times a rare sight. And all this when last day is still pending.

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EMPEE DISTILLERIES LIMITED – IPO Allotment Status

EMPEE DISTILLERIES LIMITED – IPO Allotment Status is now available at http://210.18.91.212/nipo1.asp?IPO_queries=6

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Rathi Bars Limited – IPO Allotment status

Rathi Bars Limited IPO Allotment status is now available at http://www.masserv.com/default.htm

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EDELWEISS CAPITAL LIMITED – IPO Open

Edelweiss Capital (ECL) IPO is open now and doing great. First day itself, the issue got subscribed 6 times.

Incorporated in 1996, Edelweiss Capital Limited is in the business of providing investment banking, institutional equities, private client broking, asset management and investment advisory services, wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients. Edelweiss is headquartered in Nariman Point, Mumbai and operate from another 43 offices in 21 Indian cities and employed around 843 full time employees including 40 research professionals.

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital

1. To enhance margin maintenance with stock exchanges;
   
2. To establish additional offices and acquire office infrastructure;
   
3. To enhance existing technological capacity and
   
4. To prepayment of loans.
   

EDELWEISS CAPITAL LIMITED
Issue Period	November 15, 2007 to November 20, 2007	Market Lot	8 shares
Issue Size	8386147 Equity Shares	Minimum Order Quantity	8 shares
Issue Type	100% Book Building	Book Running Lead Manager	Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited , and Lehman Brothers Securities Private Limited.
Face Value	Rs. 5/-	Syndicate Member	Kotak Securities Limited and Edelweiss Securities Limited
Price Range	Rs 725 TO Rs 825	Name of the registrar	Intime Spectrum Registry Limited
Tick Size	Re. 1/-	Address of the registrar	C-13, Pannalal Silk Mills Compound,L.B.S. Marg, Bhandup (West),Mumbai – 400 078.

 

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Kolte-Patil Developers Limited IPO

Incorporated in 1991, Kolte-Patil Developers Limited is a relatively small Pune based real estate development company. As of last year company has developed 25 projects, 22 in Pune and 3 in Bangalore which includes 2 IT Parks. Company has 28 ongoing projects in Pune and Bangalore; 23 are residential and 5 are commercial, IT Parks.

Company is ISO 9001 certified and received the Government of Maharashtra's First Prize for "Best IT Infrastructure in the State of Maharashtra" for our GigaSpace IT Park project in Viman Nagar, Pune.

For 3 of its big projects in Pune company has joint venture with ICICI Venture. ICICI Venture has provided financing for these projects. Company has identified and acquired lands, invested equity, designed and conceptualized the projects and served as project manager and developer for these projects.

Objects of the Issue:

1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for Finance land acquisition;

2. Finance the construction and development costs for some of the proposed projects;

3. Fund expenditures for general corporate purposes.

Kolte-Patil Developers Limited
Issue Period	November 19, 2007 to November 22, 2007	Issue Price	Rs. 125 - 145
Issue Size	18,812,709 Equity Shares	Listing	BSE and NSE
Issue Type	100% Book Building	Book Running Lead Manager	DSP Merrill Lynch Limited and Edelweiss Capital Limited
Face Value	Rs. 10/-	Name of the registrar	Bigshare Services Pvt Ltd

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Kaushalya Infrastructure Dev Corp Ltd IPO

Incorporated in 1992, Kaushalya Infrastructure Development Corp Ltd (KIDCO) is in the business of Construction & infrastructure development and Hotel industry.

KIDCO's infrastructure development projects involving construction and maintenance of roads and highways, construction of bridges, erection of transmission lines, electrification projects, as well as commercial and residential complexes. KIDCO has completed several major projects and has catered to a wide range of clients in Eastern India including NPCC Ltd, WBSRDA, Mackintosh Burn Ltd., Energy Power Department, Govt. of Sikkim, Westinghouse Saxby Farmer Ltd., Engineering Projects (I) Ltd, RCD of Jharkhand, PWD of West Bengal, Jharkhand, Chattrishgarh and Sikkim.

KIDCO also runs a hotel (Hotel Kaushalya Heritage) in Jhargram, West Bengal. Jhargram is an important tourist destination because of its magnificent forests of Sal, Piyal and Mahua. Hotel complex is on 2.49 Acres of Land and has 10 AC Rooms & 1 Non AC rooms.

Objects of the Issue:

1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital To Purchase capital equipments comprising construction and infrastructure equipments for execution of projects.

2. For Real Estate Development and/or BOT/BOOT projects;

3. To meet the long term working capital requirements of the Company

Kaushalya Infrastructure Dev Corp Ltd IPO
Issue Period	November 20, 2007 to November 23, 2007	Issue Price	Rs. 50.00 - 60.00
Issue Size	8500000 Equity Shares	Listing	BSE and NSE
Issue Type	100% Book Building	Book Running Lead Manager	SREI Capital Markets Limited
Face Value	Rs. 10/-	Name of the registrar	Intime Spectrum Registry Ltd

 

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Renaissance Jewellery Limited IPO - opens on November 19th 2007

Renaissance Jewellery Limited (RJL) is in the business of manufacture and sale of studded gold, platinum and silver jewellery. Renaissance product profile includes rings, earrings, pendants, bracelets, necklaces, etc. which are manufactured using polished diamonds, precious and other semi precious stones which are set in precious metals like gold, platinum and silver. Renaissance has three manufacturing units, two in Mumbai and one at Bhavnagar, Gujarat.

Objects of the Issue:

# The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital To fund capacity expansion at our Bhavnagar and Mumbai units;

# To investment in foreign subsidiary;

# To increase company's working capital

Renaissance Jewellery Limited
Issue Period	November 19, 2007 to November 21, 2007	Issue Price	Rs. 125 to Rs. 150
Issue Size	5,324,240 Equity Shares	Listing	BSE and NSE
Issue Type	100% Book Building	Book Running Lead Manager	Edelweiss Capital Limited
Face Value	Rs. 10/-	Name of the registrar	Intime Spectrum Registry Ltd

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Jyothi Laboratories Limited - IPO

Jyothi Laboratories Limited, an FMCG company (consumer goods) is in the business of manufacture and sale of fabric care, household insecticide, surface cleaning, personal care and air care products. Company offer branded products including fabric whitener, mosquito repellent, dishwashing, bath and incense products. Jyothi Laboratories manufacture its products through 21 manufacturing facilities in 14 locations across India.

Company's key brands are Ujala, Maxo, Exo, Jeeva, and Maya. Ujala is among the oldest and top selling brand of the company and consists of fabric whitener, fabric stiffener and washing powder.

Jyothi Laboratories total consolidated gross sales have grown over the last three fiscal years at a compound annual growth rate (CAGR) of approximately 10 %. Company's total consolidated gross sales were Rs. 3,663.01 million for the year ended June 30, 2006 and Rs. 3,294.57 million and Rs. 2,797.46 million for the nine months ending March 31, 2007 and 2006, respectively. Company's total consolidated net sales were Rs. 3019.33 million for the year ended June 30, 2006 and Rs. 2775.47 million and Rs. 2285.74 million for the nine months ending March 31, 2007 and 2006, respectively. Company's profit after tax was Rs. 398.85 million for the year ended June 30, 2006 and Rs. 395.69 million and Rs. 301.84 million for the nine months ending March 31, 2007 and 2006, respectively.

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to carry out the divestment of 4,430,260 Equity Shares by our Selling Shareholders.

Jyothi Laboratories Limited
Issue Period	November 22, 2007 to November 27, 2007	Issue Price	Rs. 620 - 690
Issue Size	4,430,260 Equity Shares	Listing	BSE and NSE
Issue Type	100% Book Building	Book Running Lead Manager	Kotak Mahindra Capital Company Ltd, Enam Financial Consultants Pvt Ltd
Face Value	Rs. 5/-	Name of the registrar	Intime Spectrum Registry Ltd

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