Skip to main content

Market Rout compels 6 firms to delay IPO



Concerned over the recent volatility in the domestic stock markets, six companies have reportedly put off their initial public offering (IPO) plans.
The companies that are looking for stabilisation in markets to launch their IPOs include L&T Infotech, Parag Milkfoods, Catholic Syrian Bank, AGS Transact, Thyrocare Technologies and Bharat Matrimony.

The last month's sell-off in the domestic stock markets weighed heavily on the stock prices of companies that had hit the markets during late last year, with some of them falling by around 20% in a month compared to about 6% decline in the benchmark indices.
Some firms might even contemplate trimming their issue sizes either by cutting the price band or by reducing the number of shares to be issues in public offers, sources told The Financial Express.


Infrastructure firm Dilip Buildcon has already reduced its IPO size to Rs 430 crore from Rs 650 crore as planned earlier, the company said in a refiled draft prospectus to the Sebi.
"Primary markets are complimentary to secondary markets and hence any corrections in stock markets would have impact on the IPOs," Prithvi Haldea, chairman, Prime database told the daily.
However, two recent IPOs of Precision Camshafts and TeamLease Services witnessed positive response from the subscribers despite the prevailing uncertainty in the markets. The two companies plan to raise nearly Rs 400 crore each.
Additionally, Quick Heal Technologies, a Pune-based anti-virus provider, is set to issue its IPO next week. The company plans to raise just over Rs 400 crore through the offering.
Last year, 21 companies got listed on the Bombay Stock Exchange (BSE). Of those, 12 companies managed to gain anywhere between 1.3% and 102% after their listings, while eight have declined by roughly 1.76% to 35.28%.


Sandip Ginodia , Director 

We deal in over 60 unlisted companies with 15 years of experience .
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Comments

Popular posts from this blog

HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life  has entered into a  bancassurance  (the selling of life assurance and other insurance products and services by banking institutions) tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers. HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s  1.5 million  customer base across all its branches over a period of time. Sandip Ginodia , Director   A LTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p...

NBI Industrial Finance Limited

NBI Industrial Finance Limited , Strand Road, Kolkata-700001 NBI Industrial Finance Limited was originally incorporated in Lahore in 1935 as The New Bank of India Limited. Dr. Ganeshi Lal Aggarwal and Mr. Kohli were the original promoters. After 1947 the Registered office was shifted to New Delhi. To provide for the losses due to partition the face value of the share was reduced from Rs. 10 to Rs. 5 . Later, The New Bank of India Ltd. was nationalised. Most of the non promoter shareholders took cash compensation. The Registered Office of the Company was shifted from Connaught Place, New Delhi to Strand Road , Kolkata. The share's face value was consolidated to Rs. 10. Share Capital : Rs. 1 cr 12 lakh Reserves : Around Rs.11 cr  NBI Industrial Finance Company is , now , the investment holding Company of Bangurs ( Benu Gopal Bangur of Shree Cement group ). They were the promoters of New Bank of India at the time of nationalisation. As the Company has holding of Shree Cement Ltd. it...