Central Bank plan to tap the Capital Markets:plans an IPO of 1000 cr.

Central Bank of India, one of the few government-controlled banks yet to tap the capital market, has filed its draft prospectus for an initial public offering with the capital markets regulator Sebi to raise close to Rs 1,000 crore.
The bank, which is planning to launch a public offering of eight crore shares, is likely to price its issue at close to Rs 110 per share. Central Bank, like other banks in the country, needs funds to bolster its capital base to feed rising demand in an economy which has recorded an average growth of 8% during the last four years.
The public offer will help the bank bolster its capital adequacy ratio now at 10.4%. The beefing up of its capital base will also aid the bank in fulfiling regulatory norms for banks with overseas operations.

Source: Economic Times

Indian BPO's want share in US markets;Genepact next in list

Genepact is harboring ambitions to upfold what could be the biggest Indian IPO in US markets and is speculated to be worth around $600 mn.

The listing in the New York bourse would make Genepact the third Indian BPO trading in US after WNS and EXL services listed on the NYSE and the Nasdaq respectvely.The proceeds from the share sale will be used to repay debt bligations and for realizing potential acquisitions, according to a filing with the US Securities and Exchange Commission.

Genpact will apply to have its common shares listed on the NYSE under the symbol “G”. The IPO will be managed by Morgan Stanley, Citigroup Inc. and JPMorgan Chase.

General Atlantic and Oak Hill Capital Partners hold 60 per cent of the company’s equity, while GE owns the remaining 40 per cent. All the three sareholders are diluting their stake through the proposed IPO, according to the SEC filing.

Source:www.bpowatchindia.com

Central Bank to roll out IPO in June

The Central bank of India is expecting an approval for an IPO from the Securities and Exchange Board of India(SEBI) in June. The capital realized by the bank would be used to amend the basel-2 Capital adequacy ratio (CAR) as directed by the Reserve Bank of India(RBI).The CAR is expected to rise to 12 per cent from the current levels of 10.40 percent after the issue.

The management also plans to expand the bank internally, upgrade it technologically and strengthen the Human resource department. The size of the IPO is expected to be somewhere around Rs300 crore. The bank is also thinking on capital expansion as a means of capital restructuring and diversifying it services.

Koutons files DRHP with SEBI

The retail garment brand Koutons has filed its draft red herring prospectus, DRHP with SEBI and intends to enter the capital market with an IPO as reported on Moneycontrol.

This comes after a round of PE funding from Passport India, UTI Ventures & Argonaut. Passport India Investments (Mauritius) has picked up 6,00,000 equity shares in Koutons Retail India for an investment amount of Rs 210 million. Passport has been allotted the equity shares at a fixed price of Rs 350 per equity share. With this infusion Koutons Retail India has raised an aggregate amount of Rs 1,216 million as private equity since June 2006. The earlier investors were UTI Venture Funds Management Company Private Limited and Argonaut Ventures.

As on February 28, 2007, the company had 26 manufacturing and warehouse facilities in and around Gurgaon, and a network of 674 retail outlets across India.

MIC Electronics plans an IPO

MIC Electronics, an Hyderabad based manufacturer of LED display systems, is planning to raise close to Rs 100 crores through an IPO in first quarter of January, reported Business Standard. MIC Electronics is into media (LED display), Infotech (software) and telecommunications business

The amount raised is expected to be utilized for infrastructure development, rentals fo screens, development of 3D LED display screens and ramping up research & development amongst other things. Plans are also on to acquire Infostep, a US based company and also venture into entertainment theme park development.

Edelweiss Capital were appointed advisors to the issue which will constitute 25.34% of the company’s fully diluted post issue paid up equity capital.

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