04 October 2007
Power Grid seen listing Rs 85-100/share Friday
MUMBAI: Power Grid Corporation of India is likely to list Friday at a premium of 50 per cent to its issue price. “Strong listing is expected for Power Grid mainly on positive market sentiment. I expect the stock to list a healthy premium,” said Nitin Khandkar of Keynote Capital without giving a range. Vikas Khemani, co-head, institutional equities, Edelweiss Securities, too is positive on the company.
“PGCIL has a good business model and investors will be holding it for long-term gains. The stock is likely to list around Rs 85-90,” he said. An analyst from another broking firm expects the stock to list at a premium of Rs 40-50. The initial public offering of Power Grid was subscribed 65 times, raising Rs 2,985 crore at the issue price of Rs 52. The company raised funds to part-finance its capital expenditure
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Maytas Infra IPO Subscription Details : IPO Oversubscribed
Maytas Infra IPO closed for subscription today. Maytas Infra IPO has subscribed by about 68 times (oversubscribed 67 times). Maytas Infra IPO received heavy subscription after 12 o clock today. The category wise split up of the subscription figures is not yet available. Retail investor category has been subscribed close to 15 times and hence retail investors are likely to get decent allotment chances.
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We thank the owners of the above articles/sites/sources/Govts www.bullishindian.com for referring this.
US PE fund buys stake in Prabhudas Lilladher
Foreign investors’ appetite in Indian brokerage companies does not seem to be abating. Balyasny Asset Management — a US-based private equity fund has invested $10 million for 2.83% stake in Prabhudas Lilladher Advisory Services (PLAD). This is the holding company of Prabhudas Lilladher, a domestic brokerage firm.
With the stake sale, the holding company has been valued at around Rs 1,450 cr. While the US fund has been investing in India across various sectors, it will be the first time that it has taken a stake in a financial services company. Prabhudas Lilladher is a broking firm, which has restructured itself to offer a gamut of capital market financial services such as institutional and retail broking, capital market, corporate advisory and a non-banking finance company (NBFC). PLAD was created to carry on corporate advisory business and is also the holding company of the entire PL group.
Confirming the deal, senior company officials told ET that the company was planning to go in for a second round of funding sometime later at a premium to this deal. The company is looking at additional dilution of around 10% equity to raise approximately $50 million. Apart from PLAD, other subsidiaries include Prabhudas Lilladher (PL) — to undertake traditional brokerage business, Prabhudas Lilladher Financial Services (PLF) — an RBI-approved NBFC, which will provide margin funding. PL Advisory Services (PLA — a wholly-owned subsidiary of PLF — will get merged with its holding company shortly).
While PL Capital Markets (PLCM) is in the process of obtaining Sebi licence to carry on investment banking business, PL Commodity Markets (PLCO) proposes to undertake commodities trading/brokerage business in the future. Officials added that the firm would also look at bringing in strategic partners in its step-down subsidiaries. The money from this placement would be used to expand the retail brokerage operations of the company. While officials said the company may consider a public offering in two years time, market sources pointed that it could be much sooner.
For further Visit, http://www.indiape.com/blog/_archives/2007/10/3/3267512.html
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With the stake sale, the holding company has been valued at around Rs 1,450 cr. While the US fund has been investing in India across various sectors, it will be the first time that it has taken a stake in a financial services company. Prabhudas Lilladher is a broking firm, which has restructured itself to offer a gamut of capital market financial services such as institutional and retail broking, capital market, corporate advisory and a non-banking finance company (NBFC). PLAD was created to carry on corporate advisory business and is also the holding company of the entire PL group.
Confirming the deal, senior company officials told ET that the company was planning to go in for a second round of funding sometime later at a premium to this deal. The company is looking at additional dilution of around 10% equity to raise approximately $50 million. Apart from PLAD, other subsidiaries include Prabhudas Lilladher (PL) — to undertake traditional brokerage business, Prabhudas Lilladher Financial Services (PLF) — an RBI-approved NBFC, which will provide margin funding. PL Advisory Services (PLA — a wholly-owned subsidiary of PLF — will get merged with its holding company shortly).
While PL Capital Markets (PLCM) is in the process of obtaining Sebi licence to carry on investment banking business, PL Commodity Markets (PLCO) proposes to undertake commodities trading/brokerage business in the future. Officials added that the firm would also look at bringing in strategic partners in its step-down subsidiaries. The money from this placement would be used to expand the retail brokerage operations of the company. While officials said the company may consider a public offering in two years time, market sources pointed that it could be much sooner.
For further Visit, http://www.indiape.com/blog/_archives/2007/10/3/3267512.html
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VC, PE Updates
Siemens Venture Capital Announces Business Plan Contest; Last Date Nov 30
Raman Roy’s Quatrro Eyes Game Offshoring; May Buy Game Outsourcing Shop
Euro RSCG, Publicis, Ybrant Looking For Digital Buyouts
Lehman, Och-Ziff Capital To Invest $100M Each In Future Group’s Hotel Business
Helion Invests $5.1 Million In Mumbai e-Learning Company Hurix Systems
Warburg Did 80 Deals Worth $1.1B In Last 15 Years, ICICI Venture 158 Deals For $542M
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Raman Roy’s Quatrro Eyes Game Offshoring; May Buy Game Outsourcing Shop
Euro RSCG, Publicis, Ybrant Looking For Digital Buyouts
Lehman, Och-Ziff Capital To Invest $100M Each In Future Group’s Hotel Business
Helion Invests $5.1 Million In Mumbai e-Learning Company Hurix Systems
Warburg Did 80 Deals Worth $1.1B In Last 15 Years, ICICI Venture 158 Deals For $542M
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Corporate Updates
from Rediff.com
Small firms may get their own bourse
How a strong Re will benefit India
DTH to be a costly affair for new entrants :
ICICI Pru Life launches biometric cards :
From MoneyControl.Com
ECB leaves rates unchanged at 4%
Spentex Ind to acquire East Europe Yarn Co: NW18
Reliance to convert petroleum coke into synthetic fuel
Essar plans to invest in oil exploration sector in Vietnam
Tata Steel looking for iron ore projects in Atlantic basin
Jindal Steel scales to new high
Transformers and Rectifiers (India) files DRHP with SEBI
Crompton Greaves to mfg 765 Kv Power Transformer in India
Kotak Realty Fund acquires 11.1% in Pride Hotels
Power Grid to give over 50%, hold for long term: Experts
From Other Leading portal's Sources (Business Line and etc):
India approves Maruti's JV with Futaba of Japan
DLF board to consider foreign acquisitions
Direct tax collections up 40% in April-September
Educomp Solutions in pact with Raffles Institution, Singapore
HSBC buys 3% in Sintex
We thank the owners of the above articles/sites/sources/Govts for referring this.
Small firms may get their own bourse
How a strong Re will benefit India
DTH to be a costly affair for new entrants :
ICICI Pru Life launches biometric cards :
From MoneyControl.Com
ECB leaves rates unchanged at 4%
Spentex Ind to acquire East Europe Yarn Co: NW18
Reliance to convert petroleum coke into synthetic fuel
Essar plans to invest in oil exploration sector in Vietnam
Tata Steel looking for iron ore projects in Atlantic basin
Jindal Steel scales to new high
Transformers and Rectifiers (India) files DRHP with SEBI
Crompton Greaves to mfg 765 Kv Power Transformer in India
Kotak Realty Fund acquires 11.1% in Pride Hotels
Power Grid to give over 50%, hold for long term: Experts
From Other Leading portal's Sources (Business Line and etc):
India approves Maruti's JV with Futaba of Japan
DLF board to consider foreign acquisitions
Direct tax collections up 40% in April-September
Educomp Solutions in pact with Raffles Institution, Singapore
HSBC buys 3% in Sintex
We thank the owners of the above articles/sites/sources/Govts for referring this.
ET - Corporate Stories
From The Economic Times
BSNL to invite tenders for setting up 50K WiMax kiosks
ICICI Bank raises $ 8 billion from debt
Eight suitors participate in IFCI pre-bid meet
Dabur enters malted food drink segment; ropes in Amitabh
Power sector funding may come under priority lending
PFC pays Rs 248 cr dividend to govt for 2006-07
Biocon in talks with Bayer for drug development
Moody's assigns medium grade rating to Larsen & Toubro
TCS to add 4,000 to GCP headcount
Nimbus ties up with Australian broadcaster
Railway invites private players to set up agri retail chain
TRAI fixes tariff ceiling for non-CAS areas
SEZ goods may get CST waiver in DTA
Singapore proposes SEZs in TN, Maharashtra
Kaveri Seed lists at Rs 204
BSE makes changes in Mid-cap, Small-cap indices
IBM bags Rs 70 crore project from BSNL
M&A-hungry India Inc takes European trek
Ranbaxy to hive off R&D biz
Volvo leads race for stake in Eicher
Enam Financial picks 10% stake in rural financial inclusion firm
Royal Dutch Shell to buy BPCLbs 49% stake in Bharat Shell
ONGC to spend $1.4 bn on redevelopment of field
Sun TV Network launches 2 more FM radio stations
CapitaLand all set to form 50:50 JV with DS Kulkarni
India beats China in overseas M&A deal growth
JSW Steel Q2 crude steel production up 21%
Govt collects over Rs 1 lakh crore from direct taxes
ONGC, SBI, SAIL top advance taxpayers for Sept
Wipro launches Quad Core ready desktops
Veta to start operations in Singapore by year end
Kingfisher to break-even in first half of next fiscal: CFO
Tata Motor launches new Safari
IRB Infrastructure to tap market with 5.1 crore share float
After IT, Indian realty cos march to East Europe
We thank the owners of the above articles/sites/sources/Govts for referring this.
ICICI Bank raises $ 8 billion from debt
Eight suitors participate in IFCI pre-bid meet
Dabur enters malted food drink segment; ropes in Amitabh
Power sector funding may come under priority lending
PFC pays Rs 248 cr dividend to govt for 2006-07
Biocon in talks with Bayer for drug development
Moody's assigns medium grade rating to Larsen & Toubro
TCS to add 4,000 to GCP headcount
Nimbus ties up with Australian broadcaster
Railway invites private players to set up agri retail chain
TRAI fixes tariff ceiling for non-CAS areas
SEZ goods may get CST waiver in DTA
Singapore proposes SEZs in TN, Maharashtra
Kaveri Seed lists at Rs 204
BSE makes changes in Mid-cap, Small-cap indices
IBM bags Rs 70 crore project from BSNL
M&A-hungry India Inc takes European trek
Ranbaxy to hive off R&D biz
Volvo leads race for stake in Eicher
Enam Financial picks 10% stake in rural financial inclusion firm
Royal Dutch Shell to buy BPCLbs 49% stake in Bharat Shell
ONGC to spend $1.4 bn on redevelopment of field
Sun TV Network launches 2 more FM radio stations
CapitaLand all set to form 50:50 JV with DS Kulkarni
India beats China in overseas M&A deal growth
JSW Steel Q2 crude steel production up 21%
Govt collects over Rs 1 lakh crore from direct taxes
ONGC, SBI, SAIL top advance taxpayers for Sept
Wipro launches Quad Core ready desktops
Veta to start operations in Singapore by year end
Kingfisher to break-even in first half of next fiscal: CFO
Tata Motor launches new Safari
IRB Infrastructure to tap market with 5.1 crore share float
After IT, Indian realty cos march to East Europe
We thank the owners of the above articles/sites/sources/Govts for referring this.
Sensex ends 70 points lower on profit booking
SENSEX 17777.14 -69.90
NIFTY 5208.65 -2.15
NIFTY 5208.65 -2.15
The benchmark Sensex snapped the 11-day rally by falling 70 points on the Bombay Stock Exchange (BSE) on Friday due to heavy profit-selling by funds at the existing higher levels.T
he 30-share index of the Bombay Stock Exchange, which was on an upward march for the last 11 straight trading sessions to reach close to 18,000 points, shed 69.90 points to close at 17,777.14, after touching the day's high of 17,890.49 points and low of 17,494.70.
Similarly, National Stock Exchange's Nifty settled lower by 2.15 points at 5,208.65, after touching an intra-day high of 5,233.10 points and a low of 5,126.05.
A steep rise in metal and capital goods stocks averted any major fall in in the Sensex and Nifty. Metal index surged the most by 223.35 points to 14,384.87, followed by capital goods index, which rose 184.13 points to 15,253.33. Consumer durable index shot up by 130.26 points to 4,870.23.
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Day's Quote/Corporate Story
Quote of the Day
"You can't climb the ladder of success with your hands in your pocket."
Personality / Corporate of the Day
N.R.Narayana Murthy / Founder, Infosys.
N.R. Narayana Murthy (Kannada: ಎನ್. ಆರ್. ನಾರಾಯಣಮೂರ್ತಿ) is an Indian industrialist, software engineer and one of the 7 founders of Infosys Technologies, a global consulting and IT services company based in India.
For further, Visit : http://en.wikipedia.org/wiki/Narayana_Murthy
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