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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September 1, 2008
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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August 17, 2008
Resurgere Mines & Minerals India Ltd IPO Final subscription status:
Resurgere Mines & Minerals India Ltd IPO Final subscription status:
Overall subscription: 1.16 times
Retail Individual Investors (RIIs) category: 0.40 times
Qualified Institutional Buyers (QIBs): 1.34 times
Non Institutional Investors: 2.41 times
Austral Coke & Projects Ltd IPO Final subscription status
Austral Coke & Projects Ltd IPO Final subscription status:
Overall subscription: 1.65 times
Retail Individual Investors (RIIs) category: 0.67 times
Qualified Institutional Buyers (QIBs): 0.62 times
Non Institutional Investors: 7.32 times
August 8, 2008
Vishal Information Technologies Ltd IPO – Listing Date
Vishal Information Technologies Ltd IPO is getting listed on 11-Aug-08 . Listing details are:
Vishal Information Technologies Ltd | |
Listing Date | 11-Aug-2008 |
BSE Scrip Code | 533011 |
NSE Symbol | VITLINFO |
Listing in | 'B' Group of Securities |
ISIN | INE108J01014 |
Issue price | 150 |
Face Value | 10 |
Mother of all IPOs coming
The proposed mega public listing of Bharat Sanchar Nigam Ltd (BSNL) moved a step ahead with the government indicating a valuation of about Rs 2,00,000 crore for the state-owned telecom behemoth.
August 7, 2008
'ASBA' payment method – new rabbit from SEBI’s hat
Introduced in July 2008, Applications Supported by Blocked Amount (ASBA) Process, is the alternative payment method (optional) for IPO application where the IPO bidding amount remains in investors account, but blocked by the bank until allotment is done. If there is no allotment, the amount would be released by bank, and the investor could be able to use it immediately.
This is an additional method of payment available exclusively to retail individual investors through participatory banks (SCSB's). Banks would be required to register themselves in the SCSB list, which would be available on SEBI's website. The purpose of adding this new payment option is to reduce the turn around time for IPO Stock listing and to make the refund process faster.
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