Leading stock exchange BSE expects to have 200 companies listed by June on its SME platform, an exclusive platform it has launched for raising of funds by small and medium enterprises.
Accordingly, companies that are seeking migration from the small and medium enterprises (SME) platform to the main board, would be required to submit an undertaking that the company, its promoters and directors have not been debarred by Sebi.
Mutual Funds have begun investing in quality small and medium enterprise (SME) IPO, with a public issue of over Rs 21 crore by Valiant Organics getting investment from leading fund house Reliance MF
VS Fernando a veteran IPO analyst has come out with his view on Sri Krishna Constructions (India) IPO. "Steep pricing makes it unpalatable!", says the expert.
Ultracab India is going to list its equity shares on the Bombay Stock Exchange (BSE) under SME platform on Friday.
Ultracab (India): Financials lend credence to pricing though appreciation could be a distant dream!, says VS Fernando.
Karnimata Cold Storage a West Bengal based company is going to open it public issue on February 25, which will close on March 03, 2014.
Gujarat-based SI VI Shipping Corporation has come out with its public issue of 27.42 lakh equity shares of a face value of Rs 10 each. The issue price is fixed at Rs 25 per share and the company aims to raise Rs 6.85 crore.
Mitcon Consultancy and Engineering Services: Since there is no identifiable promoter, the entire post-issue capital of Rs 12.10 cr is considered as public float. Though MITCON is the fourth IPO to be listed on the SME Platform of NSE, it is the first 'fixed price' SME on NSE, says VS Fernando.
Silverpoint Infratech a West Bengal-based company is going to list its 1.97 cr equity shares of Rs. 10/- each on Wednesday (August 28) on the BSE SME platform, which was opened for subscription between August 12-14, 2013.
Tiger Logistics: Issuing shares at exorbitant rate to unknown entities and then promoter acquiring same shares at a heavy discount followed by a bumper bonus within four days' of acquisition raise serious doubts, says VS Fernando.
The 11.4 lakh shares public issue of Tiger Logistics India will open for subscription on August 27 and close on August 29. The issue price is fixed at Rs 66 per share.
VKJ Infradevelopers' public issue of 51,00,000 equity shares of Rs 10 each has opened for subscription today.
Market regulators are supposed to protect investors from manipulators. But, GCM group has managed to fool investors time and again exposing BSE's incompetence. The quality of IPOs entertained by BSE in recent months and the unjustifiable post-listing price trend seriously question the utility of BSE's SME Platform: VS Fernando.
Shares of Delhi-based company Edynamics Solutions closed at day's high of Rs 26.65 Wednesday, up 6.6 percent over its issue price of Rs 25.
e-Dynamics Solutions: Sounds like a hi-tech e-commerce company but, hardly has any infrastructure for e-tailing despite having already raised more than Rs 15 cr as equity. Ironically, the so called e-tailing company‘s current activity is dominated by investments, loans and advances!
Sanco Industries has filed a draft red herring prospectus (DRHP) with SEBI for a public issue of Rs 14 crore.
After mooting the idea of separate SME platform, market regulator Sebi is now working on a platform for start-up companies to help them access capital and remove other obstacles.
Mumbai-based garments manufacturer and retailer Ashapura Intimates Fashion is going to launch its public issue of 52.5 lakh equity shares of Rs 10 each on March 28, 2013.
Opal Luxury Time Products, a Pune-based premium home products manufacturing and marketing company, proposes to enter the capital markets with a public issue of Rs 13 crore through a book building process.
Bothra Metals is making a public offer of 48.84 lakh shares of Rs 10 each at a fixed price of Rs 25 a piece aggregating to Rs 12.21 crore.
Even while there is a drought-like situation on the `main frame‘ section of the primary market, a little known investment banker from Kolkata, Guiness Corporate Advisors, has created a record of sort by bringing out as many as five IPOs in less than three months: VS Fernando.
VS Fernando: The 2002 -registered New Delhi-based Channel Nine Entertainment is making a fresh issue of 46.68 lakh shares of Rs 10 each at a fixed price of Rs 25 a piece aggregating to Rs 11.67 cr.
Veto Switchgears and Cables Ltd, engaged in the manufacture and sale of wires, cables and electrical accessories, has fixed the issue price band at Rs 48-50 per share to raise Rs 25 crore through initial public issue. The equity shares are proposed to be listed on the SME Platform of the NSE - EMERGE.
Enthusiastic response from the market to SME listings with 5 public issues in 6 months