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IPO, New Issues
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Chemcel Biotech a company engaged in the business of agro-chemicals closed at Rs 5.15 on the BSE against issue price of Rs 16 at a huge discount of 67.81%....
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State-run Oil India`s (OIL) initial public offering (IPO) has been put off by at least a month in view of the choppy market conditions.
OIL was to launch its IPO of 2.64 crore equity shares on November 10, but the reversal of fortunes on the stock markets has resulted in a rethink on its timing.
"The November 10 deadline cannot be kept. Market conditions are not right for the IPO now. I do not know when the issue will be rescheduled but it is unlikely to happen before December," a senior company official said.
"The IPO plan will has to be reworked in consultations with the government... We are keeping a close watch on market conditions," he said.
The government currently holds 98.13 per cent stake in OIL, which produces close to four million tonnes of crude oil a year. Alongside the IPO, the government plans to sell 10 per cent of its current holding in OIL to Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum. Post-IPO and equity transfer, the government shareholding in the company will come down to 78.43 per cent. IOC will hold 4.45 per cent stake in the expanded equity base while HPCL and BPCL would hold 2.23 per cent each. Public holding would be 12.66 per cent.
The official said OIL had received all approvals for the IPO from market regulator Sebi and was watching market conditions.
"We have fully complied with the Sebi regulations about independent directors on the company board. We now have six independent directors on our board besides one government director," he said.
The appointment of independent directors on OIL board had been holding up the IPO since early 2008.
"We hope the market conditions will improve in the next couple of months and we are in discussions with our bankers on the exact timing of the IPO," the official said.
Due to the turbulent market conditions, several IPOs were shelved earlier, including those by realty major Emaar MGF, Wockhardt Hospital and SVEC Constructions. State-run power firm NHPC`s initial offering had also been deferred earlier this month.
BS......
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this is only resoan from globle melt down otherwise i feel our economey is stong...
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a new investers recently entered in this speculation world and earned huse amount profits. but due to economic failures in usa economy and inflmation in india the capital structure failure and no support from real investors. so those issues failed for the issue price in the market, so many new investors incurred huse loss so they lost confidence in the primary market. not only this there are so many reasons for the good issue allotment is very typical...
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Dear Guest,
Yes , when you can make some good money in a very short period of thime and that too with certainity you are sure to go MAD.
Just one thing add some Method to this Madness , get to know when to cover your shorts , look for F&O cues and you would do just great.
Best wishes as always.
:-)...
In reply to:
Its time to prepare shopping list guys !
Posted by :
Guest
ankurji ....after you shorting call last week ....i am going mad doing thzt...it an easy way......kindly advice
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India is not usa.Here 70% people are below poverty line .Tax payer money should reach to these people....
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Primary Market / IPOs
Posted by :
asana
The Govt should motivate the market by slowly and time the nationalisation of some govt undertakings at good price to keep the market moving and interest of investors in the mkt. Just cutting interest rates and changing SEBI regulations will not help. Mkt means excitment and Govt should generate excitment then we can see FDI in secondary mkt and money coming in in Mutual funds
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Chemcel Biotech a company engaged in the business of agro-chemicals will list on the bourses with its equity shares on October 13, 2008. The issue price is Rs 16. The public issue of 1.54 lakh equity shares of Rs 10 each was subscribed 1.83 times....
The Govt should motivate the market by slowly and time the nationalisation of some govt undertakings at good price to keep the market moving and interest of investors in the mkt. Just cutting interest rates and changing SEBI regulations will not help. Mkt means excitment and Govt should generate excitment then we can see FDI in secondary mkt and money coming in in Mutual funds...
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hi ritesh its been long we talked.
markets will recover rightly sed bro.
anything in ur radar that one can pick now...
In reply to:
Its time to prepare shopping list guys !
Posted by : Ritesh_kg
Hi Bhavna !!
Nice to know that u r still tracking the markets closely ... as u r aware, this is a tough time for market .. but v all know that it is not the first time when markets r tanking globally ... it has happened before .. so nothing new in it .. v`ll hv to be patient !!
I m sure that v will again c the daylight :-)
Good Luck !!
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Hi Bhavna !!
Nice to know that u r still tracking the markets closely ... as u r aware, this is a tough time for market .. but v all know that it is not the first time when markets r tanking globally ... it has happened before .. so nothing new in it .. v`ll hv to be patient !!
I m sure that v will again c the daylight :-)
Good Luck !!...
In reply to:
Its time to prepare shopping list guys !
Posted by : bh2008
hi ankur, as usual i saw ur mssg a little late... i used to chk the site everyday but nobody seemed to be here.. so got tired and stopped chking...
thanks for ur inputs... and u are rite this is a good market to make money...esp. yesterday and today was very good... i had bought some shares like unitech, relcap, bharti, icicibank when the markets were at its lowest and made good profit doing intra day. i am buyig and selling at the first opp. and not getting very greedy.
i have already invested some money in fmps when the yeild was quite high...10.45.... and i do not have any f.d's but thanks for the advice.
pls keep posting ur suggestions and what u are doing!!!!!! "a little more regularly." people like me are always waiting for some inputs from u and ritesh. thanks bhavna
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Hi Dalip !!
As i asways said, at this point of time when Sensex is at 2 years low .. if u wanna invest, then u must stick to the Biggies .. ya, BHEL is reliable but not RPower ...
Rest, choice is yours :-)...
In reply to:
Its time to prepare shopping list guys !
Posted by :
dalip19
hi bhavana--good to hear that intra is giving profit, in my opinion Bhel and Rpower r good buys for medoum to long term. what do u say? Hi Ritesh/chino/renu come to the board and share something......
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Hi Ramesh !!
Rightly said bro ... TELCO is also facing WESTERN MUSIC :-)
I took some at cmp ...
...
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Its time to prepare shopping list guys !
Posted by : ultima23
It seems like the price going below that price! Getting cheaper!
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Sandeep, so many big stocks are mouth watering cheap!! Some of the Reliance stocks hitting 52wk low! It is so tempting. Hopefully we dont wait too much and miss the opp to pick some heavy weights cheaper for LT!...
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Its time to prepare shopping list guys !
Posted by : sandeep_arora99
hi ramesh
good to hear from you
no buys from me except few bartronics.
u r right its agonising looking at pf big losses. but only thing we can do is wait and watch.
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ankurji ....after you shorting call last week ....i am going mad doing thzt...it an easy way......kindly advice
...
In reply to:
Its time to prepare shopping list guys !
Posted by : librankur
Dear Bhavna,
You are risking your investments if you are investing in FMPS for the yield you mentioned , even FDs today have a better return than that and that too at no capital risk.
Liquid Funds should have been the funds of your choice in these markets.
Anyways, good to know you are happy with what you are doing.
Enjoy the fall.
:-)
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hi ramesh
good to hear from you
no buys from me except few bartronics.
u r right its agonising looking at pf big losses. but only thing we can do is wait and watch....
In reply to:
Its time to prepare shopping list guys !
Posted by : ultima23
hi sachin, things are going as predicted :( Now below 12k!
I have totally avoided looking at my Pf since it will cause more agony! As my losses more than 3L now! I abs dont know what will happen but still everyone agree that LT is good for our market. All we can do is hope. For time being i will simply wait. But i dont think the global markets can recover from this for a year or two!
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