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September 1, 2008

Refund before Anniversary - SVPCL to refund IPO Money

Supreme Court (SC) rejected SVPCL's appeal and asked them to refund the money to the investors. The SVPCL IPO was open from October 22, 2007 to October 26, 2007 and subscribed 1.09 times (retail 2.2419 times) however BSE rejected the application for listing as Post issue Merchant Bankers (UTI Securities Limited) didn't provided an undertaking as required. Now SVPCL has to refund the money back to its IPO investors soon. SVPCL Ltd officials were unable to comment of this.
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Third Biggy to go hiding - Reliance InfraTel choose not to face IPO doldrums

Reliance Infratel is a telecom infrastructure provider company part of Reliance ADA group's Reliance Communications ltd. The company had filed request for IPO but choose not to proceed considering market conditions.
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