SJVN to list on Thursday 20th May 2010

May 18th, 2010 Comments Off on SJVN to list on Thursday 20th May 2010

SJVN Limited which had launched its offer for sale issue between the 29th of April and 3rd of May is to list on Thursday the 20th of May at the NSE and BSE respectively. The company had launched its issue to sell 41.5 cr shares in a price band of Rs 23-26. The issue carried a discount of 5% for retail investors and was very well received. The issue received excellent response with an overall oversubscription of 6.64 times. The QIB portion was subscribed 9 times and the HNI portion about 3.38 times. The retail portion was subscribed 3.11 times clearly demonstrating the fact that a reasonable price will always bring retail participation.

The issue was priced at Rs 26 which means that retail investors will be allotted shares at Rs 24.70 per share. Retail investors who have applied for the maximum 3750 shares have been allotted 1268 shares. There will be listing gains in this share and investors would be well rewarded. SJVN Limited is an existing dividend paying company and the high payout ratios would continue going forward as well.

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Tarapur Transformers Listing morning Sedate start: around issue price

May 18th, 2010 Comments Off on Tarapur Transformers Listing morning Sedate start: around issue price

The company had tapped the capital markets with its maiden IPO during the 26th and 28th of April. The price band was Rs 65-75 and the issue was subscribed 1.74 times. The company had sold 85 lakh shares.

The share listed today on the BSE and NSE and the opening price was Rs 75 on the BSE and NSE respectively. The highs were Rs 80.80 on the BSE and Rs 81 on the NSE. The lows were Rs 70.20 on the BSE and Rs 70.35 on the NSE respectively.

Exchange Open High Low  Close Net Change % gain Volume Wt Avg
BSE 75.00 80.80 70.20 77.60 2.60 3.47 12907555 78.28
NSE 75.00 81.00 70.35 77.85 2.85 3.80 14076650 78.44
Total 26984205

The traded volumes are very brisk and in the first two hours over 2.70 cr shares have been traded. This traded volume is 3.17 times the IPO size. It may also be mentioned here that the issue had received adequate response from HNI and retail investors and not enough from the QIB category. The share is holding itself at round the 77.50-78 level providing an exit route to all investors. More on this share at the end of the day when delivery figures are available.

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Shriram Transport Finance NCD issue

May 16th, 2010 Comments Off on Shriram Transport Finance NCD issue

Shriram Transport Finance Company Limited is tapping the capital markets with a bond issue to raise Rs 250 crs with an option to retain over-subscription of Rs 250 crs. There is a very high reservation of the issue for retail investors with 80% of the issue reserved for them. Within this reservation half of the same is reserved for applications upto Rs 5 lakhs and half for applications above Rs 5 lakhs.

The issue opens on Monday the 17th of May and closes on Monday the 31st of May. The yield on the instrument will vary from 9.75% to 11.25% depending upon the tenor of the instrument. More on this issue which is attractive in the next two days.

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