Loha Ispaat To Raise Funds Through IPO

Date:27/12/2012,

IPO,

Domestic Company, Closed Deal,

Loha Ispaat Ltd founded in 1985 by   Rajesh Poddar, planning to raise funds through IPO and has filed DRHP for the same. The company is offering around 30,214,320 equity shares of face value R10 each, diluting 29.94% stake in the company.

The proceeds will be used to fund working capital requirements (post expansion at Khopoli and Taloja Plants) and for general corporate purposes.

Loha is also considering a pre-IPO placement of up to 49 lakh equity shares, according to draft prospectus of the company.

Aryaman Financial Services Ltd is the book running lead manager for the issue.

Promoter Rajesh Poddar's stake will be reduced to 49.09% from 70.07% post issue while promoter group and relatives' stake to 20.97% from 29.93% stake.

Loha Group has marketing & distribution network across India, UAE, Hongkong supplying to diversified industries such as Automobile , Infrastructure , Fabrication , Heavy & General Engineering, Pipes & Tubes , Constructions , Power, Electrical & Transformer ,Panels , pre-building Engineering ,Heavy & Transport Vehicles Manufacturing etc.

Currently, the company operates from two locations in Western Maharashtra, i.e. at Khopoli and Taloja. The Khopoli Unit provides various lines for Slitting and CTL facilities with an installed capacity of 900,000 MTPA, which would be increased to around to 2,181,900 MTPA post the current expansion project.

The company has two subsidiaries Loha Ispaat Hong Kong Limited, Loha Ispaat Middle East FZ Company.

Gayatri Projects Raises Funds Through Institutional Placement

Date:18/12/2012,

Public Equity,

Domestic Company, Closed Deal,

Gayatri ProjectsLtd, raised INR 75.21 Cr through fresh equity issuance to QIBs.

The company issued more than 62.58 lakh shares at a price of R120.18 per share. Its weighted average stock price stood at INR124.83 today.

Elara Capital was the sole book running lead manager to the offering.

Whereas the purpose of the fund raise was not disclosed, in September the company was planning to invest in overseas JV companies and also acquire equity in Gayatri Trident Africa FZC, its overseas JV firm.

Gayatri Projects was planning a stake dilution (to the extent of NR 500 Cr and offloading 15%) in its energy holding company Gayatri Energy Ventures to finance its power ventures. It is working on two coal based power projects at Krishnapatnam, Andhra Pradesh.

Also the company had recently concluded the full redemption of its FCCBs by paying off JPY 2,190,442,454, which was financed through ECB of JPY 1.9 Bn raised from IDBI Bank and rest taken care of by internal accruals.

Gayatri Projects, operating since 1975, is a player in the infrastructure fields of construction of roads, roads, dams, highways, canals and other civil works. Its subsidiary – Gayatri Energy Ventures handles its power projects.

It is also in the process of setting up a 1,320MW thermal power plant in Nellore, AP through a 51:49 JV, Thermal Powertech Corporation India Ltd, with Singapore based Sembcorp. Total equity required is about INR1,700 Cr. The promoters have infused about 35% of the equity so far, with Gayatri pumping in INR237 Cr and Sembcorp is infusing R350 Cr in the project. 

Other infra firms that planned/raised funds through QIP include Marg Ltd., which was looking to raise INR500 Cr by the said method for its projects.

Major player GMR Infra was planning to raise INR2500 Cr via any of the methods including GDR/ADR/FCCB/QIP or follow on offer etc.

MobME To Raise Funds Through IPO

Date:13/12/2012,

IPO,

Domestic Company, Announced Deal,

MobME Wireless Solutions Pvt Ltd, Mobile value added services provider, planning to raise funds through an IPO at the SME Exchange on the NSE, according to nextbigwhat.

The company is the first startup from Kerala to go public for raising funds and is preparing a DRHP for the same.

It has appointed IDBI Capital Market Service as the Merchant Banker. 

Founded in 2006 in Trivandrum Technopark, MobMe providers value added services to telecom operators like Vodafone, Airtel, Idea and others.

Recently, MobMe partnered with Dutch security leader Gemalto and Valimo Wireless Oy of Finland to roll out mobile digital signatures for secure logins and transactions in India. 

MobME is also the first telecom mobile VAS company to have a full-fledged R&D facility certified by the Central Department of Government of India. 

Management consulting firm Zinnov says that the MVAS market in India, currently valued at over $5 Bn will cross $6 Bn in 2013. India has over 900 Mn wireless subscribers with a growing appetite for buying mobile based services.Larger companies like OnMobile and One97 also fall into the MVAS category.

Recently, Thejo Engineering got listed at R412 per share on NSE’s SME platform.

In the Space, Zipdial Mobile Solutions, a mobile solution startup in Bangalore has secured seed investment from 500Startups; Mobile application developer - Twist Mobile India raised series A investment from Matrix Partners; Bangalore based United Mobile Apps raised $1Mn Series A funding from Mumbai Angels.

PC Jeweller To Raise Funds Through IPO

Date:04/12/2012,

IPO,

Domestic Company, Closed Deal,

PC Jeweller Ltd is raising INR 609 Cr through IPO by offering 45,133,500 shares which constitutes 25.2% of the post issue paid-up equity capital. The fund raise will be used to finance establishment of new showrooms and for general corporate purpose.

The Company has set the price band of INR 125-135 for the issue which will be open from 10th December to 12th December’12.

SBI Capital Markets and Kotak Mahindra Capital Company are the book running lead managers, while IDBI Capital Market Services is the co-book running lead manager for the issue.

PC Jeweller Ltd founded in 2005 by Padam Chand Gupta and Balram Garg, PCJL is engaged in the business of manufacturing and selling of gold and diamond-studded jewellery to wholesale /retail customers in domestic and export markets.  

IndusInd Bank Ltd Raises Funds Through QIP

Date:03/12/2012,

Public Equity,

Domestic Company, Closed Deal,

IndusInd Bank Ltd founded in 1994, raised around INR 2000 Cr through QIP. The banks has issued 5,21,00,000 shares at INR 384 per share.

UBS, Government of Singapore, SBI Mutual Fund and HDFC Life bought the shares.

IBL has a network of over 421 branches and 735 ATMs spread across 288 locations across India. IBL also has a Representative Office each in Dubai and London.