InvestmentHeat

Kotak FMP 18M Series 4

Paul Joseph — Wed, 10 Mar 2010 01:20:11 +0000

Mutual Fund Kotak Mahindra Mutual Fund Scheme Type Close Ended Scheme Category Income Launch Date 09-Mar-2010 Kotak FMP 18M Series 4 is a post from: First Blog for Indian Financial Market

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Kotak FMP 18M Series 4

Axis Fixed Term Plan – Series 2(371days)

Paul Joseph — Tue, 09 Mar 2010 20:55:23 +0000

Mutual Fund Axis Mutual Fund Scheme Type Close Ended Scheme Category Income Launch Date 10-Mar-2010 Axis Fixed Term Plan – Series 2(371days) is a post from: First Blog for Indian Financial Market

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Axis Fixed Term Plan – Series 2(371days)

ABB Ltd wins order worth 99 crores

Paul Joseph — Tue, 09 Mar 2010 17:40:18 +0000

ABB Ltd (BOM:500002) has informed the market that it has won order worth 99 crores or 22 million dollars from Haryana state power utility for providing four turnkey substations for the regional grid. The latest orders from Haryana Vidyut Prasaran Nigam to provide four turnkey substations for the regional grid. The order is estimated to be worth USD 22 million and is to be executed by end of 2011. ABB Ltd wins order worth 99 crores is a post from: First Blog for Indian Financial Market

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ABB Ltd wins order worth 99 crores

IVRCL Infrastructures Bonus Issue – Record Date Announced

Paul Joseph — Tue, 09 Mar 2010 17:12:48 +0000

IVRCL Infrastructures & Projects Ltd has informed the market that it has set March 19th 2010 as the record date for the allotment of bonus shares in the ratio of 1:1 approved by the shareholders at the Extraordinary General Meeting of the members of the Company held on March 08, 2010. IVRCL Infrastructures Bonus Issue – Record Date Announced is a post from: First Blog for Indian Financial Market

Well Pack Papers & Container Bonus and Stock split – Record Date Announced

Paul Joseph — Tue, 09 Mar 2010 16:59:49 +0000

Well Pack Papers & Containers Ltd has informed the market that it has fixed March 17th 2010 as the record date for both Subdivision of the equity shares of the Company from Rs. 10/- each into Rs. 1/- per equity share and also for the Issue of Bonus Equity Shares in the proportion of 3:4. Well Pack Papers & Container Bonus and Stock split – Record Date Announced is a post from: First Blog for Indian Financial Market

ICICI Prudential Fixed Maturity PlanâSeries 51â14 Months Plan D

Paul Joseph — Tue, 09 Mar 2010 00:02:12 +0000

Mutual Fund ICICI Prudential Mutual Fund Scheme Type Close Ended Scheme Category Income Launch Date 09-Mar-2010 ICICI Prudential Fixed Maturity PlanâSeries 51â14 Months Plan D is a post from: First Blog for Indian Financial Market

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ICICI Prudential Fixed Maturity PlanâSeries 51â14 Months Plan D

Hindustan Media Ventures IPO – Files for DRHP with sebi

Paul Joseph — Mon, 08 Mar 2010 18:13:39 +0000

HT Media has informed the market that the subsidiary of the company “Hindustan Media Ventures Ltd” has filed a Draft Red Herring Prospectus dated March 05, 2010 with SEBI,They have filed saying that they want to go for IPO of equity shares of Rs 10 each for cash at a price including share premium, aggregating up to Rs 300 crore. Hindustan Media Ventures IPO – Files for DRHP with sebi is a post from: First Blog for Indian Financial Market

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Hindustan Media Ventures IPO – Files for DRHP with sebi

Institutions = Individuals, at least in IPOs

Paul Joseph — Mon, 08 Mar 2010 17:52:00 +0000

Mint reports : Institutional investors [will] now pay 100% of the bid amount upfront while bidding in an IPO, a far cry from the days when they didn’t have to put up any margin money and allotment to them would be on a discretionary basis by merchant bankers. Some years ago, Sebi applied a 10% margin and moved the system to one of proportional allotments. The current move brings complete parity. This has gone through some iterations: Institutions would pay nothing. They could just bid without putting a paisa down. So every one bid because it was unlikely they would ever have to actually pay up, since everything was oversubscribed 600 times or something. So SEBI got angry and said we want you to put 10% down. Institutions said, listen, this IPO business takes 45 days, okay? I’m not going to bid if I have to pay money upfront and I get almost no allocation and the money blocked gets me no interest. But SEBI said 10% is 10% boss, you want it, take, otherwise go home. Some of them went home. Most stayed but then the big crash happened, and very few IPOs actually made it through. SEBI realized the interest problem isn’t just institutional – even individuals suffer. So they created ASBA – your money stays in your bank account and earns interest while the IPO is booked. You just can’t use the money for other purposes, but at least you don’t lose the interest. Now SEBI tells institutions: Listen, you guys can’t throw us the interest argument, so pay 100%. Like the Mint article says, during the IPO process (usually three to five days), NSE and BSE reveal the size of the IPO book (how much already subscribed per category etc.). So if there was already 200% subscription, institutions would say I want to buy 100,000 shares, so let me bid for 200,000 – at current rates I won’t get more than 1/2 of my shares anyway. The 10% margin allowed them to do that (upto 10x the quantity required) That inflated IPO books unnecessarily. Now, with 100% margin, they have to put the entire money up so this practice will be curbed. The downside of course is that TV channels will not get to make statements like “this IPO is only 2x oversubscribed”. (1x is pretty much what people were looking for, beyond that it’s just showing off) Mint also says the exchanges may stop reporting book sizes prior to the issue. That’s not very useful because I for one don’t want to apply to a heavily oversubscribed book. Maybe a compromise can be to only reveal information on the last day of the IPO. This applies only to IPOs after May 1, 2010.

Man Industries bags order worth 950 Crore

Paul Joseph — Mon, 08 Mar 2010 17:15:36 +0000

Man Industries (India) Ltd has informed the market today that it has bagged order worth 950 crore from kuwait and the order is for supply of 1,70,000 tonnes of large diameter pipes.The total order book including this order stays at 2000 crores. Man Industries bags order worth 950 Crore is a post from: First Blog for Indian Financial Market

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Man Industries bags order worth 950 Crore

Credit Growth at 15%

Paul Joseph — Mon, 08 Mar 2010 12:17:00 +0000

Bank Credit Growth has moved up steeply from the lows of sub-10% about six months ago, to over 15% as announced two weeks back.