Posts Tagged ‘PNC Infratech’

IPO NEWS


PNC Infratech files DRHP, to raise Rs 175 cr via IPO

Delhi based engineering and infrastructure company, PNC Infratech is planning to raise Rs 175 crore (excluding issue related expenses) via initial public offering (IPO).The company refiled a draft red herring prospectus (DRHP) with SEBI after its initial filing on January 17, 2008 .The company intends to utilize the issue proceeds for investment in capital equipment; working capital requirements and prepayment/repayment of loans & advances.

Kumar Urban Development to raise Rs 450cr via IPO

Pune-based real estate firm Kumar Urban Development Ltd plans to raise Rs 450 Cr through an initial public offering (IPO) to retire high cost debts and for new projects. According to the Chairman and Managing Director Lalit Kumar Jain about Rs 200 Cr. would be used to retire high cost debt, while the rest would be for new development and existing projects.

Den Networks to list on Nov 24, issue price at Rs 195/sh

Den Networks, a cable distribution entity with a pan-Indian footprint, will list its equity shares on the exchanges on November 24, 2009 (Tuesday). It has fixed its issue price at Rs 195 per share. The company had entered the capital market on October 28, 2009, with an initial public offering (IPO) of up to 2 crore equity shares and the price band was at Rs 195-205/share. The IPO Proceeds will partly fund the company’s plans to invest in the development of cable television infrastructure and services; the development of cable broadband infrastructure and services; and acquisition of content and broadcasting rights amongst others.

Companies may have to list within 7 days of IPO’s

The Securities and Exchange Board of India (SEBI) plans to reduce the time taken to process initial public offers (IPO) applications to seven days from the existing 20 days. Further, the capital market regulator intends to extend the Application Supported by Blocked Amount (ASBA) system to non-retail investor categories, to reduce the overall time for the IPO process. In ASBA, an IPO applicant’s money does not leave his bank account till shares are allotted to him. At present, this facility is available only to retail investors.

Ashoka Buildcon plans IPO to raise Rs 225-cr

Ashoka Buildcon Ltd, the flagship company of the Ashoka Group, which operates many roads and bridges in India on build, operate and transfer basis (BOT), plans to raise Rs 225 crore through an Initial Public Offer (IPO). The amount raised from the IPO will be used to repay debt and to meet working capital requirements. The company has so far built a road network totaling approximately 2,523 kilometers of lanes in the country. The company also has 13 ready-mix concrete plants which have a capacity of 590 cubic meters per hour.