Eros plans to tap Indian markets in June next
Eros International, the AIM-listed entertainment company, will make its initial public offering in the Indian market sometime in June 2008.
Even as their biggest movie acquisition, Om Shanti Om (believed to have been acquired at Rs 75 crore), is due for release, Lullas, the promoters of Eros, are in the process of finalising merchant bankers for the proposed IPO
Kolte-Patil Developers IPO opens Nov 19
Kolte-Patil Developers will enter the capital market with its initial public offering of 19,000,836 equity shares on Nov 19. Price band of the 100 per cent book-built issue is Rs 125-145 per share of Rs 10 each.
At the lower end of the price band the company would raise Rs 237.51 crore and at cap price it would garner Rs 275.55 crore. The issue closes on Nov 22.
Easier IPO pricing & disclosure rules likely
Indian policy managers are considering amendments to primary market rules to give companies greater leeway in pricing initial public offerings (IPOs) and disclosures.
SEBI rules on pricing of IPOs stipulate that if the issue price is less than Rs 500 per share, the face value should be Rs 10 per share. If the issue price is Rs 500 or more, the issuer (unlisted) company can fix the face value below Rs 10 per share, subject to the condition that it should not be less than Re 1 no matter what.
According to sources, a proposal is set to be considered at the regulator's forthcoming board meeting to allow firms to issue shares at a price of less than Rs 500 even when the face value of the shares being issued is less than Rs 10 per share. This needs amendments to Sebi's disclosure and investor protection guidelines.
OIL to file draft document for IPO this month
State-run Oil India Ltd (OIL) will this month file a draft red hearing prospectus to offload 10 per equity through an initial public offering (IPO) in February 2008.
"We will file the DHRP this month," OIL Chairman and Managing Director M R Pasrija told reporters on sidelines of India-Africa Hydrocarbon Conference here.
OIL, which has seven full time directors, will appoint an equal number of independent directors to comply with the corporate governance norms before filing the DHRP.
Glenmark plans IPO for generics business
Drug maker Glenmark Pharmaceuticals Ltd said on Wednesday that it plans to spin off its generics business into a new subsidiary and list it through an initial public offering (IPO) by the middle of next year.
Emaar MGF will need $1 billion more even after public issue
Real estate developer Emaar MGF Land Ltd, which is planning an initial public offering (IPO), will face a shortage of funds of about $1 billion (around Rs3,900 crore) even after the proposed public issue that could mop up as much as Rs6,000 crore, said a person familiar with the matter.
Eros International, the AIM-listed entertainment company, will make its initial public offering in the Indian market sometime in June 2008.
Even as their biggest movie acquisition, Om Shanti Om (believed to have been acquired at Rs 75 crore), is due for release, Lullas, the promoters of Eros, are in the process of finalising merchant bankers for the proposed IPO
Kolte-Patil Developers IPO opens Nov 19
Kolte-Patil Developers will enter the capital market with its initial public offering of 19,000,836 equity shares on Nov 19. Price band of the 100 per cent book-built issue is Rs 125-145 per share of Rs 10 each.
At the lower end of the price band the company would raise Rs 237.51 crore and at cap price it would garner Rs 275.55 crore. The issue closes on Nov 22.
Easier IPO pricing & disclosure rules likely
Indian policy managers are considering amendments to primary market rules to give companies greater leeway in pricing initial public offerings (IPOs) and disclosures.
SEBI rules on pricing of IPOs stipulate that if the issue price is less than Rs 500 per share, the face value should be Rs 10 per share. If the issue price is Rs 500 or more, the issuer (unlisted) company can fix the face value below Rs 10 per share, subject to the condition that it should not be less than Re 1 no matter what.
According to sources, a proposal is set to be considered at the regulator's forthcoming board meeting to allow firms to issue shares at a price of less than Rs 500 even when the face value of the shares being issued is less than Rs 10 per share. This needs amendments to Sebi's disclosure and investor protection guidelines.
OIL to file draft document for IPO this month
State-run Oil India Ltd (OIL) will this month file a draft red hearing prospectus to offload 10 per equity through an initial public offering (IPO) in February 2008.
"We will file the DHRP this month," OIL Chairman and Managing Director M R Pasrija told reporters on sidelines of India-Africa Hydrocarbon Conference here.
OIL, which has seven full time directors, will appoint an equal number of independent directors to comply with the corporate governance norms before filing the DHRP.
Glenmark plans IPO for generics business
Drug maker Glenmark Pharmaceuticals Ltd said on Wednesday that it plans to spin off its generics business into a new subsidiary and list it through an initial public offering (IPO) by the middle of next year.
The company plans to dilute not more than 30% of the new subsidiary, to be called Glenmark Generics Ltd, Glenn Saldanha, chief executive and managing director, Glenmark Pharmaceuticals, told a press conference.
The funds raised from the IPO would be used to acquire a marketing firm in the US, build the parent firm's speciality drug business and build a late-state research pipeline, Saldanha added. "I do not think it is the question of scale, it is a question of focus," Saldanha said, when asked about the reason for the spin-off.
Emaar MGF will need $1 billion more even after public issue
Real estate developer Emaar MGF Land Ltd, which is planning an initial public offering (IPO), will face a shortage of funds of about $1 billion (around Rs3,900 crore) even after the proposed public issue that could mop up as much as Rs6,000 crore, said a person familiar with the matter.
The firm "will need around $1 billion over the next two-and-a-half years to fund projects", the person said. Emaar MGF plans to set up special purpose vehicles for its development projects and allow investors to pick up a stake in these projects to meet its funding needs, the person said. He did not wish to be identified because the company has filed for an IPO.
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