Mumbai: Reliance Infratel, the tower subsidiary of Reliance Communications, is mulling to mop up Rs 6,000 crore via an Initial Public Offering (IPO). The company has filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI).
The Anil Ambani group company has proposed to offload 10.05 per cent stake to the public, which puts the valuation of the company at around Rs 60,000 crore. The IPO follows that of another group company, Reliance Power, which is to be listed on February 11. According to the DRHP, Reliance Infratel has proposed to offload 8,91,64,100 equity shares of Rs 5 each at a price that will be decided through the book building process. Around 60 per cent of the issue will be allocated to Qualified Institutional Buyers (QIBs), with 5 per cent for mutual funds, and 30 per cent to be allocated on a proportionate basis to retail individual bidders.
Wednesday, February 6, 2008
Saturday, January 19, 2008
Investors bid for as many as 72 times the number of shares that Reliance Power offered for subscription under its initial public offering (IPO). They have put in bids for over 1,654.8 crore shares as against the 22.8 crore shares on offer.
The figures are based on the latest data available but merchant banking sources associated with the offer said that the final tally and the investor composition will be known later in the night.
The issue has already pulled in roughly Rs 60,000 crore by way of application money based on the data available as of yesterday – the exact amount depends on the investor composition.
The IPO received maximum response on the last day compared to the first three days, with the subscription count racing from 24 times as late as 9 p.m. on day three to over 72 times by 6 p.m. today.
On the evidence so far, it is clear that there has been surge in investor response on the last day compared to the earlier three days.
In terms of number of applications Reliance Power IPO has set a new record. It received ever nearly 31 lakh applications by the end of day three, the highest ever, according sources in the merchant banking industry handling the IPO.
By the end of day three the retail portion of the shares on offer received 9.02 times bidding while the qualified institutional buyers’ portion was subscribed 30.68 times. The non-institutional investors’ (corporate and high net worth individuals) portion was subscribed 32.40 times, as per composite BSE and NSE data compiled till late night yesterday.
How it comparesAmong mega issues the Reliance Power IPO has thus set a new benchmark in fund mobilisation. The DLF IPO, which raised Rs 9,188 crore in 2007, received subscriptions only about three times the 17.5 crore shares on offer and the retail portion of the issue barely managed to get full subscription.
Cairn India, which raised Rs 5,260 crore through the IPO in 2006 by offering 32.88 crore shares, again barely managed to get subscribed by 1.3 times under volatile market conditions.
Reliance Petroleum IPO received a similar response with the Rs 2,700-crore issue getting subscribed 52 times for the 45 crore shares on offer and received a commitment of Rs 1,45,080 crore.
Reliance Power is planning to raise Rs 11,700 crore for a number of power generation projects that it plans to execute.
Tuesday, January 15, 2008
Rel Power IPO has a big bang start, oversubcribed
The $3 billion Reliance Power IPO had a big-bang opening on Tuesday morning and the issue was oversubscribed 6.7 times at Rs 450 per share — the upper end of the price band — within hours of opening of its book building process.
Billed as India's largest initial public offer, the IPO is drawing huge response from investors. The Qualified Institutional Buyers or QIB portion has been subscribed 11.3 times with bids worth $17.6 billion. Most of the bids for the issue has come in at the upper band of Rs 450 per share
According to latest data available, the IPO received bids worth over Rs 40,000 crore in the first five minutes of the book-building process.
Over 228 million shares of the Anil Dhirubhai Ambani Group company are on offer in the country's largest-ever IPO with an estimated proceeds of Rs 11,700 crore.
The issue will close on January 18. The price band is between Rs 405-450 per share. The total issue size is of 260 million shares, including the promoters’ contribution of 32 million shares.
Over 30 per cent of this issue is reserved for retail investors with two payment options. Investors can pay in staggered installments or make a full payment upfront.
Retail investors have been also offered a discount of Rs 20 per share, which implies their net cost of subscription will be Rs 430 per share, if they choose to bid at Rs 450 per share.
Under the part payment option, retail investors have the option of putting in only Rs 115 per share upon application. The balance will be called upon, post the allotment of partly paid shares.
With a combined planned installed capacity of 28,200 MW, Reliance Power has one of the largest portfolios of power generation assets under development in India.
RELIANCE POWER PORTFOLIO
Reliance Power has a diversified portfolio of 13 medium and large-sized power projects, under development and strategically located at various places across India, the company had said in a statement.
With an installed capacity of 28,200 megawatts, the Reliance Power IPO will significantly contribute to reducing the demand-supply gap for the power in the country at competitive rates, it added.
The Anil Dhirubhai Ambani Group (ADAG) has announced plans to invest Rs 1,00,000 crore in the power business, while it is aggressively bidding for road projects and as well as in the transport sector. Group company Reliance Energy has bid for the Rs 50,000 crore Ganga Expressway Project in Uttar Pradesh.
It is also bidding for airports at Udaipur and Amritsar and is in the race for the ambitious Mumbai Trans Harbour Link project.
Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, ABN AMRO Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities Private Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and JP Morgan India Private Limited are acting as the Book Running Lead Managers to the Issue whilst Macquarie India Advisory Services Private Limited and SBI Capital Markets Limited are acting as Co-Book Running Lead Managers.
Amarchand & Mangaldas & Suresh A Shroff & Co is advising the Company whilst Cleary Gottlieb Steen & Hamilton and J Sagar and Associates are advising the BRLMs and CBRLMs in relation to the Issue.
Friday, December 14, 2007
The markets have gainerd some points and were trading in green on the back of some buying witnessed in the realty, pharma, metal, consumer durables and FMCG stocks. IT, auto, capital goods and banking stocks were still under pressure.
At 12.40 pm, the Sensex is up 41.10 points or 0.20% at 20145.49, and the Nifty up 15.60 points or 0.26% at 6073.70. About 2409 shares have advanced, 635 shares declined, and 47 shares are unchanged.
Market breadth improved further and the advance decline ratio was nearly 3.5:1 on NSE. Inflation figure for the week ended Dec 1 was at 3.75% versus 3.01% during the same week previous year. Rupee was quoting at 39.36 against a US dollar.
Top gainers on the Nifty are ITC at Rs 203.35 up 3.57%, GlaxoSmithKline at Rs 1,067 up 2.67% and NALCO at Rs 451.10 up 2.38%.
Top losers on the Nifty are Sterlite Inds at Rs 1,054.50 down 1.86%, HDFC at Rs 3,112 down 1.81% and HDFC Bank at Rs 1,726.95 down 1.67%.
In the FMCG space, major gainers were P&G, Marico, ITC and Godrej Consumer Ltd. In the pharma sector, the buzzing stocks were Lupin, matrix, Cadila and Glaxosmithline.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Mkts still choppy; pharma, FMCG, metals up
The markets were trading choppy since opening today swinging across the flat line. It has been one another good day for the midcap and smallcap counters which were outperforming the frontline stocks. Pharma, FMCG, consumer durable and metal stocks were in focus but the capital good, aut, IT and banking stocks were under pressure.
At 12.10 pm, the Sensex is up 16.50 points or 0.08% at 20120.89, and the Nifty down 2.05 points or 0.03% at 6056.05. About 2353 shares have advanced, 693 shares declined, and 45 shares are unchanged
Market breadth was in positive with nearly 900 stocks on the upper side and 200 stocks on the down side on NSE. Rupee was quoting at 39.40 against US dollar. BSE Midcap index was up over 1.3%.
Top gainers on the Sensex are ITC at Rs 203.70 up 3.45%, Cipla at Rs 208.10 up 2.13%, Ranbaxy Labs at Rs 419 up 1.91%.
Top losers on the Sensex are Mah and Mah at Rs 781.95 down 1.53%, HDFC Bank at Rs 1,732 down 1.46% Bharti Airtel at Rs 975.35 down 1.26%.
Top gainers on the Nifty are ITC at Rs 203.35 up 3.57%, GlaxoSmithKline at Rs 1,067 up 2.67% and NALCO at Rs 451.10 up 2.38%.
Top losers on the Nifty are Sterlite Inds at Rs 1,054.50 down 1.86%, HDFC at Rs 3,112 down 1.81% and HDFC Bank at Rs 1,726.95 down 1.67%.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Mkts volatile; IT, auto, power stks under pressure
The markets turned volatile within few minutes of opening and were trading flat with modest cut. IT, auto, banking and power stocks were marginally subdued, but the FMCG, pharma, metal and durables were attracying some attention among the frontliners. Its another good day for the midcap counters which were outperforming the frontliners with significant margins.
Market breadth was in positive with nearly 900 stocks on the upper side and 200 stocks on the down side on NSE. Rupee was quoting at 39.40 against US dollar. BSE Midcap index was up over 1.3%.
At 11.05 hrs IST, the Sensex is down 23.51 points or 0.12% at 20080.88, and the Nifty down 9.40 points or 0.16% at 6048.70. About 2378 shares have advanced, 673 shares declined, and 40 shares are unchanged.
Top gainers on the Nifty are Hindalco at Rs 214 up 2.25%, ITC at Rs 200.60 up 2.16% and Cipla at Rs 208.20 up 2.16%.
Top losers on the Nifty are HDFC at Rs 3,080.05 down 2.82%, Sterlite Inds at Rs 1,047.70 down 2.49% and Sun Pharma at Rs 1,099.90 down 1.79%.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Markets open quiet; pharma, powers stocks up
The markets opened on quiet note today in line with its Asian peers. US markets had also ended mixed yesterday. Power, pharma and FMCG stocks were in focus in the early trade.Kaushalya Infrastructure lists today on the bourses at Rs 65 versus its issue price of Rs 60. Rupee was trading at 39.40 against US dollar.
At 9:56 am, Sensex was up 51 points at 20115 and Nifty was down 3.6 points at 6054. major gainers in the early trade were ITC, Cipla, SBI, RPL, REL, M&M, Tata Power, Sun Pharma and Grasim. However, Idea Cellular and SAIL were trading lower.
Asian markets were trading lower. Hong Kong's Hang Seng slipped 0.19% or 51.82 points at 27,692.63, Taiwan's Taiwan Weighted declined 0.80% or 65.41 points at 8,122.54, Singapore's Straits Times was down 0.30% or 10.46 points at 3,468.85, South Korea's Seoul Composite plunged 0.53% or 10.08 points at 1,905.82. However, Japan's Nikkei gained 0.62% or 96.20 points at 15,632.72.
US markets: The Dow gained 44.06 points, or 0.33%, to 13,517.96. The Standard & Poor's 500 index shot up 1.82 points, or 0.12%, to 1,488.41, while the Nasdaq composite index slipped 2.65 points, or 0.10%, to 2,668.49.
At 12.40 pm, the Sensex is up 41.10 points or 0.20% at 20145.49, and the Nifty up 15.60 points or 0.26% at 6073.70. About 2409 shares have advanced, 635 shares declined, and 47 shares are unchanged.
Market breadth improved further and the advance decline ratio was nearly 3.5:1 on NSE. Inflation figure for the week ended Dec 1 was at 3.75% versus 3.01% during the same week previous year. Rupee was quoting at 39.36 against a US dollar.
Top gainers on the Nifty are ITC at Rs 203.35 up 3.57%, GlaxoSmithKline at Rs 1,067 up 2.67% and NALCO at Rs 451.10 up 2.38%.
Top losers on the Nifty are Sterlite Inds at Rs 1,054.50 down 1.86%, HDFC at Rs 3,112 down 1.81% and HDFC Bank at Rs 1,726.95 down 1.67%.
In the FMCG space, major gainers were P&G, Marico, ITC and Godrej Consumer Ltd. In the pharma sector, the buzzing stocks were Lupin, matrix, Cadila and Glaxosmithline.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Mkts still choppy; pharma, FMCG, metals up
The markets were trading choppy since opening today swinging across the flat line. It has been one another good day for the midcap and smallcap counters which were outperforming the frontline stocks. Pharma, FMCG, consumer durable and metal stocks were in focus but the capital good, aut, IT and banking stocks were under pressure.
At 12.10 pm, the Sensex is up 16.50 points or 0.08% at 20120.89, and the Nifty down 2.05 points or 0.03% at 6056.05. About 2353 shares have advanced, 693 shares declined, and 45 shares are unchanged
Market breadth was in positive with nearly 900 stocks on the upper side and 200 stocks on the down side on NSE. Rupee was quoting at 39.40 against US dollar. BSE Midcap index was up over 1.3%.
Top gainers on the Sensex are ITC at Rs 203.70 up 3.45%, Cipla at Rs 208.10 up 2.13%, Ranbaxy Labs at Rs 419 up 1.91%.
Top losers on the Sensex are Mah and Mah at Rs 781.95 down 1.53%, HDFC Bank at Rs 1,732 down 1.46% Bharti Airtel at Rs 975.35 down 1.26%.
Top gainers on the Nifty are ITC at Rs 203.35 up 3.57%, GlaxoSmithKline at Rs 1,067 up 2.67% and NALCO at Rs 451.10 up 2.38%.
Top losers on the Nifty are Sterlite Inds at Rs 1,054.50 down 1.86%, HDFC at Rs 3,112 down 1.81% and HDFC Bank at Rs 1,726.95 down 1.67%.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Mkts volatile; IT, auto, power stks under pressure
The markets turned volatile within few minutes of opening and were trading flat with modest cut. IT, auto, banking and power stocks were marginally subdued, but the FMCG, pharma, metal and durables were attracying some attention among the frontliners. Its another good day for the midcap counters which were outperforming the frontliners with significant margins.
Market breadth was in positive with nearly 900 stocks on the upper side and 200 stocks on the down side on NSE. Rupee was quoting at 39.40 against US dollar. BSE Midcap index was up over 1.3%.
At 11.05 hrs IST, the Sensex is down 23.51 points or 0.12% at 20080.88, and the Nifty down 9.40 points or 0.16% at 6048.70. About 2378 shares have advanced, 673 shares declined, and 40 shares are unchanged.
Top gainers on the Nifty are Hindalco at Rs 214 up 2.25%, ITC at Rs 200.60 up 2.16% and Cipla at Rs 208.20 up 2.16%.
Top losers on the Nifty are HDFC at Rs 3,080.05 down 2.82%, Sterlite Inds at Rs 1,047.70 down 2.49% and Sun Pharma at Rs 1,099.90 down 1.79%.
SUN TV, Kaushlya Infra, EIH, IFCI, Lanco, Ispat Inds were some of the very active counters on the bourses today.
Markets open quiet; pharma, powers stocks up
The markets opened on quiet note today in line with its Asian peers. US markets had also ended mixed yesterday. Power, pharma and FMCG stocks were in focus in the early trade.Kaushalya Infrastructure lists today on the bourses at Rs 65 versus its issue price of Rs 60. Rupee was trading at 39.40 against US dollar.
At 9:56 am, Sensex was up 51 points at 20115 and Nifty was down 3.6 points at 6054. major gainers in the early trade were ITC, Cipla, SBI, RPL, REL, M&M, Tata Power, Sun Pharma and Grasim. However, Idea Cellular and SAIL were trading lower.
Asian markets were trading lower. Hong Kong's Hang Seng slipped 0.19% or 51.82 points at 27,692.63, Taiwan's Taiwan Weighted declined 0.80% or 65.41 points at 8,122.54, Singapore's Straits Times was down 0.30% or 10.46 points at 3,468.85, South Korea's Seoul Composite plunged 0.53% or 10.08 points at 1,905.82. However, Japan's Nikkei gained 0.62% or 96.20 points at 15,632.72.
US markets: The Dow gained 44.06 points, or 0.33%, to 13,517.96. The Standard & Poor's 500 index shot up 1.82 points, or 0.12%, to 1,488.41, while the Nasdaq composite index slipped 2.65 points, or 0.10%, to 2,668.49.
Wednesday, December 12, 2007
The market is trading strong. Sensex and Nifty are both in the positive. Sensex is at 20312, up 21 points and Nifty is at 6123, up 25 points from the previous close. The market breadth is positive with advances at 820 against declines of 384 on the NSE.
Adlabs is a good stock to have in the portfolio with long term prospects and a stop loss of Rs 1200, says Deepak Mohoni, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1265, up 3.9% on the BSE.
Eton Park deal values Reliance AMC at Rs 10,000 crore and the deal is around 13% of AUM, reports CNBC TV18. Eton Park to invest 5% in Reliance AMC for Rs 501 crore and the deal is likely to be completed by January 08
Adlabs is a good stock to have in the portfolio with long term prospects and a stop loss of Rs 1200, says Deepak Mohoni, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1265, up 3.9% on the BSE.
Eton Park deal values Reliance AMC at Rs 10,000 crore and the deal is around 13% of AUM, reports CNBC TV18. Eton Park to invest 5% in Reliance AMC for Rs 501 crore and the deal is likely to be completed by January 08
The Asian markets are trading weak. The Indian market is trading flat, swimming against the tide of immense global weakness. Sensex is currently at 20231, down 59 points and Nifty is at 6092, down 4 points from the previous close. The BSE Smallcap index and CNX Midcap index are both trading strongly, up nearly 1.5%, BSE Realty Index and BSE Metal Index are both up by nearly 1.6% and BSE IT Index is down 2%. The market breadth is positive with advances at 834 against declines of 372 on the NSE.
The market has opened slightly lower Wednesday, but key indices holding on to the significant levels. The The Sensex is currently at 20,135, down 154 points from the previous close. Nifty is at 6016, down 80 points.
The Television Eighteen India board has approved the acquisition of at least 53% stake in Infomedia India from ICICI Venture managed fund. TV18 is currently trading at Rs 499.95, up 3.1% and Infomedia is at Rs 292, up a whopping 13%, on the BSE.
The Television Eighteen India board has approved the acquisition of at least 53% stake in Infomedia India from ICICI Venture managed fund. TV18 is currently trading at Rs 499.95, up 3.1% and Infomedia is at Rs 292, up a whopping 13%, on the BSE.
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