Thangamayil Jewellery Limited will list at a listing ceremony on the BSE on Friday the 19th of February. The company had issued shares in a price band of Rs 70-75 to raise Rs 2875.25 lacs. The net offer in the issue at the price band of Rs 75 was for 37,13,667 shares. The issue was oversubscribed.
Thangamayil Jewellery listing date on 19th Feb
February 18th, 2010
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REC FPO Floor price announced as Rs 203
February 18th, 2010
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REC Ltd today announced the floor price at Rs 203 for its forthcoming follow on offer issue opening on Friday the 19th of February and closing on Tuesday the 23rd of February 2010. The floor price has been fixed at Rs 203 against the closing price of Rs 220.15 yesterday on the BSE. The floor price implies a discount of 7.79% to yesterday’s close.
The stock reacted adversely and hit a lot of Rs 205.15 but bounced back from there and after the first half hour of trade was trading at Rs 213, a loss of Rs 7.15 or 3.20%. The stock has recovered significantly from its lows.
Many people were expecting a discount on the floor price for retail investors but because the document filed with SEBI for the issue did not contain the provision, the same was not possible. The floor price therefore has given a discount to all categories of investors.
More on this issue over the weekend.
United Bank of India IPO opens on 23rd Feb
February 17th, 2010
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United Bank of India (UBI) is launching its maiden IPO to sell 5 cr shares. The issue opens on Tuesday the 23rd of February and closes on Thursday the 25th of February 2010. The issue would be closing on the eve of the Union Budget scheduled on Friday the 26th of February 2010.
IPO grade assigned by CARE is 4/5 and assigned by ICRA is 3/5. The price band would be announced latest by Thursday evening and would be available in the newspapers by way of price band announcement on Friday the 19th of February. The bank has its roadshow today in Mumbai and some details would be available post the same.
According to informed sources, the price band is likely to be in the range of rs.60-66
