Thursday, October 18, 2012

Bronze Infra-tech Ltd IPO will open on Oct 19th

Bronze Infra-tech Ltd is entering in the capital markets (through BSE SME) with an initial public offering, IPO of 57,04,000 Equity Shares of Rs 10/- each. The price for the issue has been fixed at Rs 15/- per share.

Bronze infra-tech Ltd is engaged in the business of Land development, construction, execution of infrastructure projects and supply of IT equipments. They are currently executing four diversified projects, two of which are land development based projects, one project for civil work and another project related to supply of IT Equipments.

The issue opens on Oct 19, 2012 and closes for subscription on Oct 23, 2012. The equity shares of the issue are proposed to be listed on the SME Platform of BSE Limited ("BSE").

Visit Bronze Infra-tech Ltd IPO page for more detail.

Wednesday, October 10, 2012

Rashtriya Ispat Nigam Ltd (RINL) IPO has been postponed for the 3rd time

Rashtriya Ispat Nigam Ltd (RINL) IPO has been postponed for the 3rd time. The PSU IPO was planned to open on Oct 15th to sell 10% government of India stakes in the company.

While the exact reason to defer the IPO was not disclosed by the finance minister P Chidambaram, sources said that the merchant bankers had suggested a price band of Rs 15-17 for RINL shares, which was not acceptable to the Ministry of Steel. The Ministry insisted that the share price should be above the book value of Rs 22.

This is the 3rd time when RINL IPO is deferred and surly a setback to the disinvestment program of Government of India plans to raise Rs 30,000 Cr though stock sells in PSU’s.  The RINL IPO was first to kick start the disinvestment program.

No further detail is provided by finance ministry on the future plans for RINL IPO.

Visit Rashtriya Ispat Nigam Ltd IPO webpage for latest update.

Monday, October 8, 2012

Rashtriya Ispat Nigam Ltd (RINL) IPO will open on Oct 15th

Rashtriya Ispat Nigam Ltd is entering in the capital markets with an initial public offering, IPO of 488,984,620 Equity Shares of Rs 10 each. The price band for the issue has not been fixed yet and will be decide at least two working days prior to the offer opening date.

Rashtriya Ispat Nigam Limited (RINL) is second largest government owned India based Steel manufacturer. Rashtriya Ispat Nigam Ltd, also known as Vizag Steel, is a PSU under the Ministry of Steel. Rashtriya Ispat was granted the ‘Navratna’ status by the Government of India in Nov 2010. RINL is a debt free company.

The issue opens on Oct 15, 2012 and closes for subscription on Oct 18, 2012. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). India Ratings & Research Private Ltd has been assigned the "IND 4" indicating above average fundamentals.

The promoter of Rashtriya Ispat Nigam, has offered upto 5% discount to retail investors and eligible employees in Rashtriya Ispat Nigam IPO shares.

Visit Rashtriya Ispat Nigam Ltd IPO detail page for more info.