EClerx, Brigade to list on Monday

Brigade Enterprises to list on Monday

Brigade Enterprises, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, will list on the stock exchanges on Monday, December 31, 2007. It has fixed the issue price at Rs 390 per equity share (upper end of price band) for its initial public offering of 16,624,720 equity shares of Rs 10 each.

The price band was between Rs 351 and Rs 390 per equity share. The issue opened for subscription on December 10, 2007 and closed on December 13, 2007. According to the preliminary bidding data received from the stock exchanges, the issue was subscribed 13.07 times. The qualified institutional bidders' portion was subscribed around 18.29 times; the non institutional bidder portion was subscribed around 4.89 times and the retail bidder's portion subscribed around 5.6 times.

The primary objective of the issue is to fuel the future growth plans of the company, including by way of acquisition of land, meeting construction and development costs in relation to the Company’s ongoing and forthcoming real estate projects and general corporate purposes.
The global co-ordinators and book running lead managers to the issue are J P Morgan India Private Limited and Enam Securities Private Limited and the book running lead manager is ICICI Securities Limited.

Brigade may give Rs 50-60 gain on listing
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eClerx Services likely to list around Rs 400: Experts

eClerx Services, provides data analytics and customised process solutions to global enterprise clients, is likely to list at around Rs 400-500, according to experts. They also advised that one can remain invested in the stock.

R S Iyer of K R Choksey Securities said, "eclerx Services is likely to open around Rs 400-500. One should book profits above Rs 450."

"Its deep domain knowledge, unique business model, proven delivery model, ever increasing clientele base, consistent Y-O-Y growth over the last four years will drive the growth of eClerx Services Limited. Investors can remain invested in the stock with a medium to long term view", Arpit Agrawal Head of Research, Arihant capital markets said.

According to Investment Advisor, S P Tulsian, "eClerx Services is likely to get listed on Monday at Rs 390 as against the IPO price of Rs 315 per share. Profit booking is advised upto Rs 375."
It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.

The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits. The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.

eClerx Services to list on Dec 31
eClerx looks good with long term perspective: Experts



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