Ipo Opening Today

1) MIC Electronics Ltd.

Opening Date : 30/04/2007
Closing Date : 08/05/2007

United Bank Of India Postpones IPO

Kolkata: United Bank of India (UBI) has deferred its IPO plan for the current fiscal. The decision comes after its capital revamping plans were not cleared by the Reserve Bank of India (RBI) and the Finance Ministry. The Kolkata-based bank, however, has Rs 800 crore headroom in the upper and lower tier II levels, which can be used to fund business growth. Interest rates on deposits have reached the roof and I do not foresee any further rise in the cost of deposits. UBI had proposed to change 40 per cent of its equity to preference share. But it did not get clearance from the RBI and the finance ministry. To fund the growth of the bank had already mopped up Rs 200 crore as tier II capital earlier during 2006-07. UBI reported 32.3 per cent growth in business to Rs 59808 crore. While the deposits increased by 27.1 per cent to Rs 37,167 crore, the advances grew by 41.8 per cent to Rs 22,641 crore. The net profit grew by 30.7 per cent from Rs 204.57 crore to Rs 267.28 crore. The bank''s net NPA ratio fell to 1.50 per cent in March 2007 while the gross NPA level fell to 3.60 per cent. During the year, the Bank sold 17 NPAs having book value of Rs 75.37 crore to Arcil.

MIC Electronics Mulls IPO For Rs 76.5Cr

Mumbai: MIC Electronics Ltd, the Hyderabad-based provider of LED (liquid electronic diode) video display systems, to float an IPO to mop up as much as Rs 76.5 crore by offering 51 lakh shares of Rs 10 each. The price band has been fixed at Rs 129-150 per share. A major portion of the issue proceeds will be used to fund setting up an additional facility for manufacture of LED video modules and for maintaining sufficient stocks of LED display systems. Further, 15 per cent of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders, while 35 per cent of the net issue to the public shall be available for allocation on a proportionate basis to retail bidders. The issue will constitute 25.34 per cent of the fully diluted post-issue equity share capital of the company. Edelweiss Capital Ltd will manage the sale.
The company is establishing a new facility in Cherlapally, Hyderabad to augment its existing production capacity of LED boards. A sum of about Rs 15 crore has been earmarked to maintain a sufficient stock of LED video displays for its rental/ leasing business. About Rs 21 crore of the IPO proceeds will be invested in design and development of 3D Stereoscopic displays, completing the acquisition of InfoStep Inc, US (the company has bought a 51 per cent stake in October 2006) and for oversees market development. Edelweiss Capital Ltd is the sole book running lead manager to the issue.

Ipo Closing Today

1) Bhagwati Banquets & Hotels Ltd.

Opening Date : 18/04/2007
Closing Date : 25/04/2007

Central Bank Receives Permission For IPO

Mumbai: Central Bank of India mulls to hit the domestic capital market with an initial public offering by June this year. The bank will issue 80 million shares with a face value of Rs 10 each. It has received permission (from the Government) for the equity issue. The Government holding after the IPO will come down to about 80 per cent from 100 per cent. The lead bank managers for the issue will be ICICI Securities, IDBI Capital Market Services and Enam Securities among others. The bank will soon register its red herring prospectus with the SEBI. The bank has recorded a 93.77 per cent growth in net profit to Rs 498 crore for the year ended March 31, 2007 against Rs 257 crore for the corresponding period last year. The bank has registered a 28.94 per cent growth in total business as on March 31, 2007 from Rs 1,05,678 crore last year to Rs 1,36,265 crore. The total deposits grew by 24.51 per cent to Rs 82,776 crore as against last year's Rs 66,483 crore.

Uma Precision Ltd Files For IPO With SEBI

Pune: Uma Precision Ltd has registered its draft red herring prospectus with SEBI for foraying the capital market with its initial public offering (IPO) of 40 lakh equity shares of Rs 10 each for cash at a premium, comprising an employee reservation of one lakh equity shares. The issue will be conducted via 100 per cent book building process and the net issue to the public will constitute 27.12 per cent of the fully diluted post-Issue paid - up capital of the company. An official release of the company has stated that up to 50 per cent of the net issue to the public will be available for allocation on a proportionate basis to qualified institutional buyers (QIBs). The book running lead manager is Karvy Investor Services Ltd. The shares will be listed at the Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd. Uma Precision Ltd is a manufacturer and exporter of precision assemblies, systems and machined parts for auto and electrical industry and has 1,000 different components for auto and electrical industries.

Ipo Closing Today

1) Hilton Metal Forging Ltd.

Opening Date : 18/04/2007
Closing Date : 24/04/2007

Ipo Opening Today

1) Fortis Healthcare Ltd.

Opening Date : 16/04/2007
Closing Date : 20/04/2007

Ipo Closing Today

1) Ammana Bio Pharma Ltd.

Opening Date : 28/03/2007
Closing Date : 05/04/2007