Wednesday, October 13, 2010

Prestige Estates Projects Ltd

Issue Details

Issue Period

Oct 12th -Oct 14th, 2010

Face Value

Rs 10 per equity share

Price Band

172- 183 per equity share

Lot Size

30 equity shares

Issue Size

1200 crores



Book Running Lead Managers

Enam Securities Private Limited

Kotak Mahindra Capital Company Limited

J P Morgan India Private Limited

UBS Securities India Private Limited


Link Intime India Private Limited

Objects of Issue

Finance Ongoing Projects and Projects Under Development

Invest in existing Subsidiaries which investment will be utilized for the construction and development of our commercial Ongoing Project,retail Ongoing and retail Projects Under Development undertaken by those Subsidiaries

Finance the acquisition of land

Debt repayment

General corporate purposes

Company Profile

Incorporated in 1986, Prestige Estates Projects Ltd is a Bangalore based company involve in real estate development. Prestige Estates is south India’s largest real estate development company.

Company has completed 142 real estate projects of approximately 27.09 million sq. ft. Company has a diversified portfolio of real estate development projects including residential (including apartments, villas, plotted developments and integrated townships), commercial (including corporate office blocks, built-to-suit facilities, technology parks and campuses and SEZs), hospitality (including hotels, resorts and serviced accommodation) and retail (including shopping malls) segments of the real estate industry.

Company has established a strong brand image, has a successful track record of execution and a diversified portfolio of real estate projects.

Rating: The issue has been rated by ICRA-3/5, indicating average fundamentals.

Tuesday, October 12, 2010

Coal India IPO price band at Rs 225-245/Share

The price band for the eagerly awaited initial public offer (IPO) of India's largest coal producing company, Coal India (CIL) has been fixed at Rs 225-245 a share.

Retail Investors will get 5% discount on the offer price.

The government expects to raise over Rs 15,000 crore through the IPO, which will be largest ever amount raised by an Indian company via offering. And, Jaiswal said, we would not rope in anchor investors in the IPO.

The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder (GoI), whose stake will be 89.99% post the issue. The IPO is set to open for subscription on October 18 and will close on October 21, 2010.

The company is offering 63.16 crore equity shares through the issue, which was an offer for sale by the President of India, acting through the ministry of coal, Government of India.

The offer shall constitute 10% of the post offer paid-up equity share capital of company. The issue will close on October 21

As per draft prospectus, CIL is the largest coal producing company in the world (Source: CRISIL Research), based on raw coal production of 431.26 million tons in fiscal 2010. It is also the largest coal reserve holder in the world (Source: CRISIL Research) based on reserve base as of April 1, 2010.

Thursday, October 7, 2010

Coal India IPO Details

Issue Opens : October 18th.

Issue Closes : for QIBs on October 20th, for Retail & HNI on October 21st

Price Band : To be announced on October 13th

Application lot size : To be announced on October 13th

Retail Discount : To be announced on October 13th

Credit of Shares : November 1st/2nd

Refund of funds : November 2nd

Listing / Trading : November 4th

Preliminary Terms

Issuer : Govt of India

Transaction : IPO

Share Type : 100% Secondary

Vendor : Government of India (Acting through Ministry of Coal)

Issue Size : 631,636,440 Equity Shares

Employee Resv : 63,163,644 equity shares

Net Offer to Public : 568,472,796 equity shares

Tranche Split : 50% to QIBs

35% to Retail

15% to HNIs

Bookrunners : Citi, BoAML, Enam, DB, Kotak, MS Maximum number of shares that can be applied for by a QIB : 568,472,796 shares However, if a FII is investing on behalf of its sub account which is a foreign corporate or an individual : 315,818,220 shares