DLF Finally comes up with IPO
Real estate giant player DLF Ltd has set a price band of Rs 500-550 per equity share for its forthcoming initial public offering.
The issue opens on June 11 and closes on June 14. The company filed its prospectus with the Registrar of Companies on Thursday.
The company had filed its draft prospectus in January for 17.5 crore equity shares of Rs 2 each.
The company thus proposes to raise Rs 8,750 crore at the lower end of the price band and Rs 9,625 crore at the upper end.
The issue would constitute 10.27 per cent of the fully diluted post-issue capital of the company, reducing the promoter's stake to around 88 per cent.
DLF's public issue would fall shy of Oil and Natural Gas Corporation's public issue in 2004 of around Rs 10,500 crore, the country's largest issue by far, by around Rs 875 crore even if all the shares are subscribed at the upper end of the price band.
Friday, May 25, 2007
Thursday, May 24, 2007
Rajesh Exports secures Rs 286 crores export order
Rajesh Exports Ltd (REL) has informed BSE that the Company has bagged an export order worth Rs 286 crores of gold jewellery from M/s. Excel Goldsmiths, Sharjah. This order is to be completed by September 30, 2007.
Indian jewellery designs have reached high standards and are recognizable the world over. Rajesh Exports has achieved expertise in making hand-made and machine made jewellery in traditional as well as modem designs. Indian hand-made jewellery has always had a large ethnic demand in various countries such as the Middle East, Far East, South-East Asian countries, USA and Canada. The Company has one of the best designing teams in the country and the Company is abreast with the trends in the international markets.
Mr. Rajesh Mehta, Executive Chairman of the Company Said "The R&D team of REL is carrying on path breaking work and has developed global jewellery designs which have ensured a consistent flow of orders to the Company from across the world. This order gains significance as it is for the supply of designer jewellery, which provides better bottom line margins for the Company. The international markets have been exhibiting a robust demand for Indian jewellery."
Rajesh Exports Ltd (REL) has informed BSE that the Company has bagged an export order worth Rs 286 crores of gold jewellery from M/s. Excel Goldsmiths, Sharjah. This order is to be completed by September 30, 2007.
Indian jewellery designs have reached high standards and are recognizable the world over. Rajesh Exports has achieved expertise in making hand-made and machine made jewellery in traditional as well as modem designs. Indian hand-made jewellery has always had a large ethnic demand in various countries such as the Middle East, Far East, South-East Asian countries, USA and Canada. The Company has one of the best designing teams in the country and the Company is abreast with the trends in the international markets.
Mr. Rajesh Mehta, Executive Chairman of the Company Said "The R&D team of REL is carrying on path breaking work and has developed global jewellery designs which have ensured a consistent flow of orders to the Company from across the world. This order gains significance as it is for the supply of designer jewellery, which provides better bottom line margins for the Company. The international markets have been exhibiting a robust demand for Indian jewellery."
Tuesday, May 22, 2007
Reliance Communications cuts roaming rates
Starting a price war, Reliance Communications on Tuesday slashed its roaming rates by about 70 per cent at the lowest 40 paise a minute on some select plans, while incoming has been made just Re 1 per minute.
Incoming calls on roaming has been reduced to just Re 1 a minute from Rs 1.75 a minute.
In February, TRAI had reduced the roaming charges, as per which, the maximum permissible charge for roaming calls, irrespective of terminating networks and tariff plans, was set at Rs 1.40 per minute for outgoing local calls, Rs 2.40 for outgoing nationa l long distance calls and Rs 1.75 for incoming calls. The telecom regulator had already removed rentals.
Roaming charge reduction gained more ground after former Telecom Minister Dayanidhi Maran had told the media that he was planning the abolition of national roaming charges as a gift to Tamil Nadu Chief Minister M Karunanidhi on his birthday on June 3.
The current Minister A Raja has said the Government is looking into the possibility.
Reliance Communications President (Personal Business) S.P Shukla said, ''Now, we have taken a step further by reducing roaming rates to as low as 40 paise per minute on select plans.
A significant feature of this rate reduction has been on incoming calls, while roaming, which have been reduced from current Rs 1.75 per minute to Re 1 per minute. (source-hindubusinessline)
Starting a price war, Reliance Communications on Tuesday slashed its roaming rates by about 70 per cent at the lowest 40 paise a minute on some select plans, while incoming has been made just Re 1 per minute.
Incoming calls on roaming has been reduced to just Re 1 a minute from Rs 1.75 a minute.
In February, TRAI had reduced the roaming charges, as per which, the maximum permissible charge for roaming calls, irrespective of terminating networks and tariff plans, was set at Rs 1.40 per minute for outgoing local calls, Rs 2.40 for outgoing nationa l long distance calls and Rs 1.75 for incoming calls. The telecom regulator had already removed rentals.
Roaming charge reduction gained more ground after former Telecom Minister Dayanidhi Maran had told the media that he was planning the abolition of national roaming charges as a gift to Tamil Nadu Chief Minister M Karunanidhi on his birthday on June 3.
The current Minister A Raja has said the Government is looking into the possibility.
Reliance Communications President (Personal Business) S.P Shukla said, ''Now, we have taken a step further by reducing roaming rates to as low as 40 paise per minute on select plans.
A significant feature of this rate reduction has been on incoming calls, while roaming, which have been reduced from current Rs 1.75 per minute to Re 1 per minute. (source-hindubusinessline)
Sunday, May 20, 2007
New Fund - HDFC Mid-Cap Opportunities
HDFC has come out with its new fund named Mid-Cap Opportunities fund with aim of investing in mid and small cap compnies.
The equity component of the portfolio will range from 75% to 100%. Out of this, small-caps will form a minimum of 5% and a maximum of 15% of the portfolio while mid-caps will be in the 70%-95% range.
Equity and equity related securities other than the above will be in the 0%-25% range.
Debt and money market securities will be in the 0%-25% range.
Investment Strategy
Fundamentally Strong Businesses
HDFC has come out with its new fund named Mid-Cap Opportunities fund with aim of investing in mid and small cap compnies.
The equity component of the portfolio will range from 75% to 100%. Out of this, small-caps will form a minimum of 5% and a maximum of 15% of the portfolio while mid-caps will be in the 70%-95% range.
Equity and equity related securities other than the above will be in the 0%-25% range.
Debt and money market securities will be in the 0%-25% range.
Investment Strategy
Fundamentally Strong Businesses
Invest in Fundamentally strong businesses having predictable cash flows and sustainable long-term competitive advantages
Create a portfolio of ‘growth’ and ‘value’ based on their discount to intrinsic or private market value
Strong, High Integrity Management Teams
Invest in businesses run by strong management teams with proven track records
Risk Management
Small and Mid-Cap companies carry higher risk than large cap companies, particularly over the short and medium term. The Scheme endeavours to control risk by adopting following investment strategy:
Maximum exposure to single small and mid-cap company to be restricted to 10% of net assets
Number of stocks in the portfolio to be at least 25
The investment in Small Cap to be restricted to 15% of net assets
The Scheme permits investments in companies other than small and mid-cap companies up to 25% of net assets
Due diligence – regular company visits and financial analysis
WHY CLOSE – ENDED FUND?
Mid and Small-Cap companies may take time to mature, therefore there is a need to remain invested for a longer period of time
Flexibility to develop core portfolio with longer time horizon to reap full benefits of investments as there is no pressure to invest/divest in hurry- Helps take advantage of volatility
PRODUCT FEATURES
Liquidity – The Scheme will offer for redemption/switch out of units on an ongoing basis at quarterly intervals at NAV based prices. The Redemption/Switch-out will be available only during the specified Redemption Period i.e. 15th day (or immediately succeeding business day if that day is not a business day) immediately after end of each calendar quarter
Options – Growth and Dividend (with Payout and reinvestment) options. Dividend reinvestment facility will be available only after the scheme is converted into an open-ended scheme
Application Amount – Minimum of Rs 5,000 and in multiples of Rs 1,000 thereafter
Snapshot
Scheme: Close-ended equity scheme
Fund opened: May 7
Options: Growth, Dividend Option with payout facility only
Entry load: Nil
Exit load: Nil
Minimum application amount: Rs 5,000Fund Managers: Chirag Setalvad, Anand Laddha (for foreign securities)
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