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Upcoming IPO's Information: "Future Capital IPO".........Biyani gets SEBI nod for Future Capital IPO Kishore
Biyani-promoted Future Capital Holdings has received the regulatory
go-ahead from SEBI for its initial public offer, estimated to raise
between Rs 400-500 crore. Market regulator SEBI has issued its observations on the draft prospectus for the IPO of Future Capital, the non-banking financial business arm of Future group, clearing the way for the issue early in 2008, sources close to the development said on Friday. In its draft red herring prospectus filed with the SEBI in September, Future Capital had offered to issue 64.22 lakh equity shares of Rs 10 face value at a price to be decided through the book-building process. The company has proposed to list the shares on the NSE and BSE. The shares offered in the IPO would constitute about 10 per cent of the company's post-issue capital. Kotak Mahindra Capital, Enam Securities, JM Financial and UBS Securities have been appointed as the book-running lead managers to the issue. After the issue, the promoters' holding would decline to about 74.5 per cent, from 83 per cent currently. Pantaloon Retail's about 61 per cent holding in Future Capital will come down to 55 per cent, while the stake held by Biyani and CEO Sameer Sain would decline from 6.6 per cent to 6 per cent and from 15 per cent to 13.5 per cent respectively. Future Capital to raise Rs 500 crore via an IPO that will be on from January 11-16, reports NDTV Profit. DLF to list 5 units, raise $5 bn
Real estate major DLF plans to raise $5 billion over the next three
years by listing five of its business units, including DLF Homes, DLF
Retail, DLF Hotels, DLF Utilities and DLF Infrastructure. There are no
plans to further dilute equity in group flagship DLF. The eventual
strategy is to make DLF a holding company with considerable equity
stakes in the listed entities in addition to being an incubator for new
businesses. In all, the company is looking at a fund infusion of $10-12 billion in its various businesses over the next three years. “We gradually plan to bring IPOs for all our major business units, excluding finance,” DLF group chief finance officer Ramesh Sanka told ET. The $5-billion group will raise the fund through domestic IPOs in addition to Singapore listing of DLF Assets (DAL), the company which own the office space development and management business of the group. At present, the company is awaiting regulatory approvals for this IPO. “We hope to hit the Singapore capital markets by the first quarter of next year,” Mr Sanka said. While Mr Sanka refused to divulge the size of the DAL float, the buzz is that it will be a $2-2.5 billion issue. All other business units of the company are expected to be listed in Indian capital markets only. “As of now, we are not looking at any other overseas market,” Mr Sanka said. In addition, the company would look at options of raising funds by diluting equity in some of its ongoing projects as well. “We are open to private equity as well as strategic investment in special vehicles at project levels,” he said. Pride Hotels Group plans IPO in 2008
The Pride Hotels group on Wednesday said it has decided to come out
with an IPO in the first quarter of 2008, to meet its expansion plans. "Pride Hotels has received an investment from Kotak India Real Estate Fund towards part financing of its Rs 340 crore expansion-cum-renovation plan and aims to utilize the funds towards setting up new hotels in Mumbai, Goa, Bangalore and Alibaug," group Chairman S P Jain told reporters here. The Mumbai-based hotel chain has recently acquired 4.5 acres of land at Alibaug in Maharashtra, where it proposes to set up a resort-cum-spa. The company has also acquired property at Mumbai for the construction of a 200-room hotel. The Bangalore Hotel is nearing completion and will open by June 2008, Jain added. Pride Hotels at present offers a total of 430 rooms in Nagpur, Ahmedabad, Pune and Chennai and post expansion it will offer 1126 rooms in the 5 star category. Pride Hotels has a growth of 77 per cent on total earnings between the year 2006-6007 compared to 48 per cent growth in the year 2005-2006, Jain said adding that "with this key investment from the Kotak realty fund and Mauritius-based primary fund; we are now close to finalising source funds for our expansion plans". Intex mulls IPO, private equity placement
IT hardware and electronics company Intex on Thursday said it may raise
funds from the capital market or opt for a private equity investment. "We want to diversify our holdings. It may be either through an initial public offer or a private equity placement. We have set no time-frame for diversifying our holdings," Intex Executive Vice Chairman Ramesh A Vaswani told reporters. Intex wants to position itself as end-use products company from a mere computer peripherals player, Vaswani said. A few months ago, it entered the cell phone business. "We source cell phones from China and we want to concentrate on rural market," he said. Similarly, the company is looking for a foreign partner in a joint venture to start manufacturing audio products. "Hopefully, the joint venture should happen in the financial year 2008-09. The ball has started rolling," he said. The company has a factory in Jammu and Baddi in Himachal Pradesh. It would build the facility to manufacture audio products at one of these places near to its existing facilities, he said. Intex has set Rs 380 crore in turnover for this financial year. Last year, its turnover stood at Rs 260 crore.
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