ICICI Securities expects IPO market to do better in 2012

According to ICICI Securities, the primary market or the market of Initial Public Offers (IPOs) is likely to be better in the current calendar year on the back of an easing interest rate environment

"We hope that it will be better in the current calendar year in comparison to last year as the reverse rate cycle is likely to set in," ICICI Securities Managing Director and Chief Executive Officer Anup Bagchi said

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Difference between Tax Saving and Tax Free Bonds

A lot of investors tend to get confused between the two types of tax-friendly avenues that are getting popular these days - Tax Free Bonds and Tax Saving Bonds. However, it is critical to note the difference between the two

Tax Saving Bonds are Long Term Infrastructure Bonds issued in pursuance of Section 80CCF of the Income Tax Act, 1961 which was introduced as part of offering investors tax deductions for investment in development of infrastructure in the country

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HUDCO Tax Free Bonds Interest Rates and Details

HUDCO is coming up with a Tax-Free Bond Issue, which would open for subscription from Friday, January 27, 2012


Issue Size and Credit Ratings:
The issue size of the bond issue would be Rs. 4,684.72 crores and the issue has been rated by CARE and Fitch. Fitch Ratings has given a rating of Fitch AA+ and CARE AA+ by CARE, which is one notch below the maximum rating

Face Value and Minimum Investment
The Face Value of each bond would be Rs.1,000/- and the minimum investment would be Rs.10,000/- and in multiples of Rs.1,000/- thereafter. The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under Section 10 (15) of IT Act. Moreover, there will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors

Interest Rate and options available:

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Indian Railways Finance Corporation (IRFC) Tax Free Bonds Details

Indian Railway Finance Corporation Limited (IRFC) has issued Tax Free Bonds to raise money from the market to finance the outlay of Indian Railways. The issue would open for subscription from Friday, January 27, 2012 and the scheduled date of closure would be Friday, February 10, 2012

Issue Size and Credit Ratings:
The issue size is Rs. 6,300 crores and the issue has been rated CRISIL AAA and CARE AAA by CRISIL and CARE respectively, which is their highest rating. Out of the total issue size, 30% would be reserved for Retail Investors (Retail Investor can make investment upto Rs.5 Lakhs)

Face Value and Minimum Investment
The Face Value of each bond would be Rs.5,000/- and the minimum investment would be Rs.10,000/-. The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under Section 10 (15) of IT Act. Moreover, there will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors

Interest Rate and options available:

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Top 3 Performing IPOs of 2011

The calendar year 2011 was not the best of the years when it came to Indian Capital Markets and particularly for the IPO market. However, there were three companies that have so far excelled in performance post listing (in terms of current market price):

1. Onelife Capital Advisors Ltd.
Onelife Capital Advisors is a financial service company offering investment banking services and portfolio management and equity broking services. Company is focused on nurturing small and medium sized enterprises (SME) companies to source capital in various forms. The company came out with an IPO at an Issue Price of Rs.110/- per equity share. The share is currently ruling at around Rs.260/-. The company is still in loss making stages and it is surprising to see it maintain the such high prices

Click here for all posts on Onelife Capital Advisors IPO!


2. Aanjaneya Lifecare Ltd.
The company, a Mumbai-based pharma company is engaged in the manufacture of anti-malarial active pharmaceutical ingredients (APIs) and herbal medicines, inhalers, lozenges and animal health products, came out with its IPO in May, 2011 and has since maintained for a larger part, a gain of more than 100% over the issue price. The company is the world's third-largest manufacturer of quinine salts used in the treatment of malaria. It is also one of the country's largest contract manufacturers of codeinebased cough syrups

Click here for all posts on Aanjaneya Lifecare IPO!


3. Rushil Decor Ltd.
Rushil Decor came up with an IPO of Equity Shares in June 2011. Rushil Decor Ltd. is a flagship company of the Rushil Group which is a leading Indian manufacturer of decorative high pressure laminates and plain particle boards. The group operates in India and internationally with brand names of Vir laminate and Rushil decor premium laminate. They have four manufacturers of particle board products and decorative laminated products in Gujarat state. Vir Laminate is the largest seller of Laminated sheets and Particle Board in India. The Issue Price of the IPO was fixed at Rs.72/- per share while the stock is currently ruling at around Rs.140/- per share

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RINL IPO and NBCC IPO may hit the streets soon

According to a report in Economic Times, The government plans to come out with two initial public offers (IPO) - Rashtriya Ispat Nigam Limited(RINL) and National Building Construction Corporation (NBCC) - to raise about Rs 3,000 crore in the current fiscal itself as part of its efforts to garner funds

The year of 2011 has not been the best of the years for IPO and the government would be looking to make over some of the divestment target till March, 2012. The aforesaid IPOs may help in taking Government's divestment objectives a step further

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SEBI introduces call auction session to curb IPO listing volatility

The market watchdog SEBI has said that normal trading upon listing of an IPO can now take place only after a call auction session. This is primarily a move to check volatile price movements on the first day of trading in newly listed and re-listed stocks

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Vodafone's big win would clear road for IPO

The Supreme Court has made a historical judgement and ruled in favour of Vodafone in a tax case that was pending since a long time. The court has made a critical judgement stating that the Indian tax department cannot tax the transaction that saw Vodafone acquire 67 per cent stake in Hutchison Essar, a mobile phone operator in India in 2007. The deal was for a staggering Rs.55,000 crores or $11.5 billion. The Court observed that I-T dept has no jurisdiction on transactions outside the country

Further, the Income-Tax Department has been asked to return to Vodafone Rs.2,500 crore which it had earlier paid to the department. The Apex Court has also asked the department to pay the said amount along with 4 per cent interest within two months. Supreme Court Registry has also been asked to return to Vodafone the bank guarantee of Rs.8,500 crore

The case will come as a great relief from legal tangles for Vodafone and would clear the deck for the company's proposed Initial Public Offering (IPO). In several interviews earlier also, Vodafone's global CEO Vittorio Colao had warned that the outcome of the tax case would govern Vodafone's approach to future investment in its India arm

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Mutual Fund NFO: Indiabulls Mutual Fund launches Indiabulls Bluechip Fund NFO

Indiabulls Mutual Fund has launched Indiabulls Bluechip Fund. The scheme will be jointly managed by Aviral Gupta, Amarjeet Singh and Sumit Bhatnagar

The investment objective of the scheme would be to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of blue-chip large-cap companies.

The New Fund Offer (NFO) has opened for subscription on today on January 20, 2012 and closes on February 3, 2012. As with all NFOs, it is priced at Rs.10/- per unit. The minimum application amount would be of Rs.5000 and in multiples of Re.1 thereafter for lumpsum investment. For Systematic Investment Plan (SIPs), the minimum application would be of Rs.1000 and in multiples of Re.1 thereafter

The scheme would allocate 65% to 100% of assets in equity and equity related securities - blue chip large-cap companies, upto 35% of assets in equity and equity related securities - other companies and upto 35% of assets in debt & money market securities / instruments

Click here for full details on Indiabulls Bluechip Fund NFO

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Indiabulls Bluechip Fund NFO Details

Type of scheme: Open-Ended
NFO opens from: January 20, 2012
NFO closes on: February 3, 2012
Benchmark Index: S&P CNX Nifty
Minimum Application Amount: Rs.5,000 for lumpsump application and Rs. 1,000 for SIP
Options: Growth & Dividend (Dividend Re-investment & Dividend Pay-out)
Exit Load: 1% if redeemed/switched out within first year, NIL if redeemed/switched out after 1 year

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Vodafone appoints Investment Banker for IPO

Vodafone, the UK-based telecom major, has appointed investment bank NM Rothschild to assist the listing plans, reported in Economic Times quoting sources

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Reliance buyback can be the biggest in history

Reliance Industries Ltd. led by billionaire Mukesh Ambani, has informed the NSE and the BSE that the company is considering a proposal to buyback equity shares at a board meeting scheduled to be held on January 20, 2012

A notice on the BSE website read: "Reliance Industries Ltd. has informed BSE that a meeting of the Board of Directors of the Company will be held on January 20, 2012, inter alia, to consider and approve a proposal for Buy Back of the Company's equity shares in accordance with all applicable provisions of law"

Although there is no announcement in this regard, the speculation is that the buyback could be around 10-12 per cent of the existing equity of Reliance Industries Limited. RIL is India's largest company and the buyback, if materialized is likely to be the biggest in India's history, according to Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities

The buyback will utilise the large pile of cash and cash equivalents (approximately Rs.70,000 crore) lying on Reliance’s Balance Sheet. Currently, the market capitalisation of Reliance Industries is in excess of Rs.2.5 Lakh Crores

The Buyback Price is speculated to be around Rs.850 to Rs.900 per share, although there is no official communication in this regard. Check back this blog for latest updates on Reliance Industries Ltd. Buyback Offer

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Reliance Industries considering buyback

Reliance Industries Ltd has informed the NSE and the BSE that the company is considering a proposal to buyback equity shares at a board meeting scheduled to be held on January 20, 2012. There is speculation that it could be around 10-12 per cent of the existing equity of Reliance Industries Limited

Click here for more on Reliance Industries Buyback from Indian IPO Blog Buzz

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Morgan Stanley launches Morgan Stanley Multi Asset Fund

Morgan Stanley has launched Morgan Stanley Multi Asset Fund, an open-ended debt fund, with an aim to generate regular income for its customers.  The NFO opens for subscription on Tuesday, January 17, 2012 and will close on Tuesday, January 31, 2012

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SEBI IPO Crackdown continues with Taksheel Solutions IPO

SEBI has been on a roll with crackdowns on IPOs. Now, as part of a crackdown by the Securities & Exchange Board of India (SEBI) on manipulation of public offerings, Taksheel Solutions Limited (TSL), its directors, key executives and its merchant banker, PNB Investment Services (PNB) are among those barred from accessing the capital markets

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Franklin Templeton launches India Feeder Fund

Franklin Templeton has launched Franklin Templeton India Feeder - Franklin US Opportunities Fund, an open ended fund which will invest into the Luxembourg domiciled Franklin US Opportunities Fund (Master Fund), which in-turn invests in US based companies across different sectors

Franklin US Opportunities Fund (Master Fund) follows a combination of bottom up and top down approach and has major exposure to large cap US companies

The minimum investment amount is Rs. 5,000. It would carry 2% exit load if redeemed before one year. The fund will be benchmarked against Russell 3000 Growth Index

The fund opened for subscription on Tuesday, January 17, 2012 and closes on Tuesday, January 31, 2012. The scheme reopens for subscription on Tuesday, February 14, 2002

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We've added new sections!

Keeping in pace with the developments in the world of investing in India, Indian IPO Blog would now also report on a wider spectrum of investing avenues in India. We would now also feature posts on Bonds, Debentures as well as New Fund Equity Offers from Mutual Funds in India. The IPO news and updates would continue as usual (Learn more....)

We'd be covering the newer areas in same old format that you love - simple and to the point posts! We hope the new version of the blog would be helpful in keeping you updated on the latest happenings of the investing world in India.

Here are some quick ways to stay updated on our latest posts:

RSS Feeds: http://feeds.feedburner.com/indianipoblog

Facebook page: http://www.facebook.com/pages/Indian-IPO-Blog/159204032388

Twitter link: http://twitter.com/indianipoblog

Click here for more details on new sections introduced

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PTC India Financial Services (PFS) Long Term Infrastructure Bonds - Series 2 Details

PTC India Financial Services (PFS) Long Term Infrastructure Bonds, which carry benefit under Section 80CCF of the Income Tax Act, 1961, will be open till February 29, 2012

Following are the salient features of the bonds:

PTC India Financial Services (PFS) Long Term Infrastructure Bonds - Series 2 Details:
Eligibility: Resident Indian Individuals and HUFs
Application Size: The lots for application would be 1 Bond and in multiples of 1 Bond thereafter.
Face Value: Rs.5,000/- per bond
Form: Demat / Physical Form. However, trading will be allowed only in Demat form after lock-in period
Rating:  ‘A+’ by CARE, ‘A+’ by ICRA, ‘AA’ by Brickwork Ratings

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SEBI crackdown on Tijaria Polypipes IPO

As part of the nationwide crackdown on Initial Public Offerings (IPO), the Securities Exchange Board of India (SEBI) has barred Tijaria Polypipes (TPL) as well as several individuals and stock brokers from accessing the securities market

Earlier, SEBI had received a complaint alleging insider trading and artificial volumes had caused huge losses to retail investors. An investigation exposed a shocking tale of manipulation and deceit through the collusion with certain retail and qualified institutional buyers (QIBs). The three QIBs—Sparrow Asia Diversified Opportunities Fund, Credo India Thematic Fund (CREDO), and IPRO Funds were clearly allowed to exit the stock on listing day at a premium to the issue price. They had exited at an average price of Rs.62 per share, while the stock closed at Rs18.10 towards the end of the day

Indian IPO Blog Insights had recommended a clear avoid to the issue. Click here to read Indian IPO Blog Insight on the IPO

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India's first online Retail Government Security Portal launched by IDBI Bank

Retail Investors would have one more investment avenue in the form of Government Securities now. IDBI Bank Ltd. has launched India's first online retail G-Sec Portal. This Portal provides an opportunity for retail investors to invest in Government securities. Government Securities are bonds issued, by Central and State Government

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