Sebi panel for recovering gains made by IPO scamsters
The Justice Wadhwa Committee appointed by market regulator SEBI to investigate irregularities in IPOs floated during 2003-2005, suggested the possibility of recovering this amount and distributing it among the deprived applicants and where the scamsters made a profit of Rs 95.69 crore. On 31st October 2007, the value of blocked shares of these scams in [...]
Jindal Power to float IPO to mop up Rs 7,200 cr for expansion
For an initial public offering of Rs 7,200 crore, Jindal Power (JPL) announced the filing of its draft red herring prospectus where it is the largest since the Rs 11,500-crore IPO of Reliance Power in January 2008. However, JPL is mobilizing the funds for brownfield expansion at Raigarh in Chhattisgarh while JPL plans to more [...]
JSW Energy IPO price band at Rs 190-200/sh
JSW Energy files Draft Red Herring Prospectus with the SEBI where Sajjan Jindal owned Power Company is looking at raising close to Rs 3,000 crore by diluting 11% stake in the company and the price band is expected to be at Rs 190-200/share. However, JM Financial, ICICI Securities, JPMorgan, SBI Capital Markets, Kotak Mahindra Capital [...]
Govt plans to set up IPO watchdog
In an attempt to detect early possibility of fund raising with fraudulent intent, The government is planning to set up an expert body, which will be part of the ministry of corporate affairs, very soon, which will collate and analyze business data of companies raising capital through initial public offerings (IPOs). The intent behind setting [...]
NHPC issue gets lukewarm response on day two
NHPC”s IPO issue witnessed lukewarm response on its second day of subscription as it was subscribed about 0.25 times on Monday. However, the issue was subscribed 3.54 times on the first day, according to the data on NSE. The issue, consisting of 168 crore shares and out of that the fresh issue comprises of 111.82 [...]
NHPC IPO to hit market on August 7
National Hydroelectric Power Corporation (NHPC), a Central government enterprise, will raise Rs 6,000 crore from the Initial Public Offer (IPO), which will hit the market on August 7. However, Rs 4,000 crore will be used to finance the under construction projects of the company while Rs 2,000 will be given to the government of India. [...]