Union Budget 2011-12 Highlights: Direct Taxation

• A new revised income tax return form 'Sugam' to be introduced for small tax-papers
  
• Exemption Limit for Individuals raised from Rs.160,000 to Rs.180,000 for individual tax payers
  
• For senior citizens, the qualifying age reduced from earlier 65 years to 60 years
  
• For senior citizens, the Basic Exemption Limit raised to Rs.250,000
  
• New Category of tax-payers “Very Senior Citizens” created consisting of Citizens having age of 80 years and above
  
• Basic Exemption Limit for Very Senior Citizens at Rs.500,000
  
• Surcharge on Domestic Companies reduced to 5% from 7.5%
  
• Minimum Alternate Tax raised to 18.5% from 18%

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Union Budget 2011 Highlights: Indirect Taxation

• Service tax widened to cover hotel accommodation above Rs.1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests
• Service tax on air travel increased by Rs.50 for domestic travel and Rs.250 for international travel in economy class. On other higher classes, Service tax to be at 10%
• Standard rate of excise duty held at 10 percent;
• No change in CENVAT rates
• Service tax rate unchanged at 10%
• Iron ore export duty raised to 20 percent
• Nominal 1% Central Excise Duty on 130 items entering the tax net
• Basic food and fuel and precious stones, gold and silver jewellery to be exempted
• Peak rate of customs duty maintained at 10%
• Basic customs duty on agricultural machinery reduced to 4.5% from 5%

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Fineotex Chemical Limited IPO - Final Subscription Status

QIB: 0.00 times
Non-Institutional Investors: 0.22 times
Retail: 4.38 times
Overall: 1.57 times

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Sudar Garments IPO - Final Subscription Status

QIB: 0.17 times
Non-Institutional Investors: 4.47 times
Retail: 2.27 times
Overall: 1.55 times

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Acropetal Technologies IPO - Final Subscription Status

QIB: 1.12 times
Non-Institutional Investors: 2.00 times
Retail: 1.21 times
Overall: 1.28 times

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Fineotex Chemical Limited IPO - Bidding Status on Day 1

QIB: 0.00 times
Non-Institutional Investors: 0.08 times
Retail: 1.47 times
Overall: 0.53 times

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Acropetal Technologies IPO - Bidding Status till Day 3

QIB: 0.84 times
Non-Institutional Investors: 0.09 times
Retail: 0.41 times
Overall: 0.58 times

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Sudar Garments IPO - Bidding Status till Day 3

QIB: 0.14 times
Non-Institutional Investors: 3.44 times
Retail: 0.45 times
Overall: 0.75 times

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Sudar Garments IPO - Bidding Status till Day 2

QIB: 0.00 times
Non-Institutional Investors: 2.97 times
Retail: 0.30 times
Overall: 0.55 times

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Acropetal Technologies IPO - Bidding Status till Day 2

QIB: 0.00 times
Non-Institutional Investors: 0.09 times
Retail: 0.32 times
Overall: 0.13 times

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Sudar Garments IPO Details

Issue Size: 9,088,000 Equity Shares of Rs.10/- each
Issue Opens on: Monday, February 21, 2011
Issue Closes on: Thursday, February 24, 2011
Price Band: Rs.72/- to Rs.77/- per equity share
Bid Lot: 81 Equity Shares and in multiples thereof
Lead Manager: Ashika Capital Ltd.
Registrar: Link Intime India Pvt. Ltd.

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Acropetal Technologies IPO Details

Issue Opens on: Monday, February 21, 2011
Issue Closes on: Thursday, February 24, 2011
Price Band: Rs.88/- to Rs.90/- per equity share
Bid Lot: 60 Equity Shares and in multiples thereof
Lead Manager: Saffron Capital Advisors Pvt. Ltd.
Registrar: Sharex Dynamic (India) Pvt. Ltd.

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Acropetal Technologies IPO Price Band fixed

The Price Band for the upcoming IPO of Acropetal Tech IPO is fixed at Rs.88/- to Rs.90/- per equity share. Acropetal Technologies' Rs 170 crore initial public offering (IPO) will open for subscription on Monday, February 21, 2011 and would remain open for subscription till Thursday, February 24, 2011

Acropetal Technologies offers IT/ITES solutions and a broad spectrum of engineering design services to reduce product design cycle time and cost

Check back Indian IPO Blog for latest updates on Acropetal Technologies IPO!

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Fineotex Chemical Limited IPO Price Band

Fineotex Chemical Limited IPO Price Band is set at Rs.60/- to Rs.72/- per equity share. The IPO would consist of 4,211,160 Equity Shares of Rs.10/- each

The objects of the Issue are for meeting public issue expenses, general corporate purposes and for:

1. Setting up of Manufacturing facility for production of specialty chemicals;
2. Setting up of Sales Office in Mumbai;
3. Margin Money for Working Capital

Fineotex Chemical Limited is an ISO 9001:2000 certified Company engaged in business of Specialty Chemicals and Enzymes for various industries. Fineotex Chemical produces and provides Specialty Chemicals and Enzymes to Textile & Garment Industry, Construction Industry, Leather Industry, Water Treatment Industry, Agrochemicals, Adhesives and others

Check back Indian IPO Blog for latest updates on Fineotex Chemical Limited IPO!

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Sudar Garments IPO opens from February 21, 2011

Sudar Garments Limited, a manufacturer and exporter for ready-made garments, is entering capital markets with an IPO of 9,088,000 Equity Shares of Rs.10/- each

Sudar Garments Limited is a leading manufacturer and exporter for readymade garments specialized in elegant Shirts, Trousers and wide range of apparel for Men, Women & Kids. The objects of the issue are Meeting General Corporate and Issue Expenses and for:

1. Expansion of the existing apparel manufacturing unit;
2. Meeting Working Capital Requirement;
3. Setting up Retail Outlets and Brand Building;
4. Creating a public trading market for the equity shares of the company

Sudar Garments Limited IPO would remain open for subscription between Monday, February 21, 2011 and Thursday, February 24, 2011

Stay tuned for the latest updates on Sudar Garments Limited IPO!

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Fineotex Chemical IPO opens on February 23, 2011

Fineotex Chemical Ltd. (FCL) is entering the capital market with an Initial Public Offer (IPO) of 4,211,160 Equity Shares of Rs.10/- each. The IPO will open for subscription on Wednesday, February 23, 2011 and close on Friday, February 25, 2011

Fineotex Chemical is in the business of manufacturing specialty chemicals and enzymes consumed by the textile and garment industry, leather, water treatment, construction, paper, paint, adhesives, agrochemical and other industries

Stay tuned for the latest updates on Fineotex Chemical Ltd. (FCL) IPO!

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Omkar Speciality Chemicals nosedives upon listing, closes at 52% discount

Omkar Speciality Chemicals Ltd., which listed its Equity Shares on the exchanges today, had a disastrous debut with the share plunging from its Issue Price of Rs.98/- per share right down to the level of Rs.46.20 on the BSE.

The share opened trade at Rs.95/- on the BSE, at a discount of Rs.3/- as against its Issue Price of Rs.98/- per share and started bleeding soon thereafter. At one stage, it also went onto the level of touching Rs.42.50 - a deep cut of 56.6% on the Issue Price

Omkar Speciality Chemicals Ltd. is mainly engaged in the manufacture and sale of speciality chemicals viz. selenium compounds, iodine compounds, molybdenum compounds etc. and pharma intermediates viz. Potassium Iodate, Bismuth Ammonium Citrate, Bromoform etc.

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SAIL FPO may hit the streets in March 2011 now

The FPO of Steel Authority of India Ltd. (SAIL) is expected to hit the streets in March 2011. The FPO was scheduled to be launched in February 2011 earlier, but the same has now been rescheduled

SAIL is India's largest steel producing company. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country

SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel and other alloy steels. The Company is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets

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Tata Steel FPO - Basis of Allotment

The Retail Category has been over subscribed to the extent of 1.52 times. The total number of Equity Shares allotted In Retail Individual Investors category is 19,917,874 Equity Shares to 181,496 successful applicants. The categorv-wise details of the Basis of Allotment are as under:

Category	No. of Applications	% to total	Total No. of Equity Shares applied for	% to total	No.of Equity Shares allocated	Ratio	Total No. of Equity Shares allocated
10	12,322	6.64	123,220	0.41	10	25:38	81,070
20	12,850	6.92	257,000	0.85	13	1:1	167,050
30	8,548	4.60	256,440	0.85	20	1:1	170,960
40	5,636	3.03	225,440	0.74	26	1:1	146,536
50	12,668	6.82	633,400	2.09	33	1:1	418,044
60	2,648	1.43	158,880	0.52	39	1:1	103,272
70	1,903	1.02	' 133,210	0.44	46	1:1	87,538
80	5,192	2.80	415,360	1.37	53	1:1	275,176
90	1,331	0.72	119,790	0.40	59	1:1	78,529
100	14,127	7.61	1,412,700	4.66	66	1:1	932,382
110	975	0.53	107,250	0.35	72	1:1	70,200
120	1,197	0.64	143,640	0.47	79	1:1	94,563
130	667	0.36	86,710	0.29	85	1:1	56,695
140	667	0.36	93,380	0.31	92	1:1	61,364
150	3,685	1.98	552,750	1.82	99	1:1	364,815
160	35,973	19.37	5,755,680	19.00	105	1:1	3,777,165

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