Koutons Retail IPO subscribed 30x

Apparel maker Koutons Retail India has been received overhelming response from investors, especially qualified institutional investors (QIBs). A 35.24 lakh issue has received bids for 10.41 crore shares, which includes bids for 39.12 crore shares at cut off price.

Public issue was subscribed 29.54 times, as per data available on NSE, at 2 pm.

The company had entered capital market with an initial public offer of 35.24 lakh equity shares in the band of Rs 370-415 a share. The offer will constitute 11.54% of the post-issue capital.

The company is planning to raise at around Rs 130.39 crore to Rs 146.25 crore in lower and higher end of price band, respectively.

Proceeds will be utilised for setting up exclusive brand outlets of the company at the cost of Rs 41.2 crore, establishment of new integrated manufacturing facility (Rs 30.18 cr). The company is also going to purchase plant and machinery to increase finishing and manufacturing capacity (Rs 10 cr) and improve Information technology network (Rs 5.57 cr).

JM Financial Consultant Pvt Ltd is the book running lead manager to the issue.

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CCCL issue subscribed 52 times

The initial public offering (IPO) of Consolidated Construction Consortium (CCCL), a provider of integrated turn-key construction services, has been given a good support from investors. Realty stocks has been surging high in last three days, that might be the reason for getting good subscription numbers.

Public issue received bids for 19.34 crore shares, including bids for 26.33 crore shares at cut off price. It was subscribed 52.29 times, as per NSE website.

The company had entered capital market with an initial public offer (IPO) of 37,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process. The price band is between Rs 460 and Rs 510 per equity share.

The company will be raised Rs 170.20 crore at lower end of price band and Rs 188.70 crore at higher end.

The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. The issue would constitute 10.01% of the post-issue paid up capital of the company.

The objects of the issue are to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.

The book running lead managers to the issue are Enam Securities Private Limited and Kotak Mahindra Capital Company Limited while the co-book running lead manager is Spark Capital Advisors (India) Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.

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Grey Market Premium

Circuit Systems : 4 to 5

Dhanus Tech : 80 to 90

Consolidated Constructions : 130 to 150

Koutons India : 85 to 90

Kaveri Seeds : 6 to 8

Allied Computers : 1 to 1.50

Power Grid corporation : 19 to 20

Magnum Ventures : 1 to 2

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Koutons Retail IPO bids start today

Apparel maker Koutons Retail India is open for subscription with an initial public offer of 35.24 lakh equity shares in the band of Rs 370-415 a share. Public offer closes on September 21, 2007. The offer will constitute 11.54% of the post-issue capital.

The company is planning to raise at around Rs 130.39 crore to Rs 146.25 crore in lower and higher end of price band, respectively.

Proceeds will be utilised for setting up exclusive brand outlets of the company at the cost of Rs 41.2 crore, establishment of new integrated manufacturing facility (Rs 30.18 cr). The company is also going to purchase plant and machinery to increase finishing and manufacturing capacity (Rs 10 cr) and improve Information technology network (Rs 5.57 cr).

Koutons manufactures and retails of Men’s wear under brand name “Koutons” and “Charlie Outlaw” and has network of 674 exclusive brand outlets accross in India ( as on Feb 2007).

For the year ended March 2007, it has reported net sales of Rs 264.86 crore and profit after tax of Rs 23.96 crore.

JM Financial Consultant Pvt Ltd is the book running lead manager to the issue.

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CCCL IPO opens for subscription

Consolidated Construction Consortium (CCCL), a provider of integrated turn-key construction services in the industrial, commercial, infrastructure and residential sectors of the construction industry, is open for subscription with an initial public offer (IPO) of 37,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process.

The issue will close for subscription on September 21, 2007. The company has fixed the price band between Rs 460 and Rs 510 per equity share.

The company will be raised Rs 170.20 crore at lower end of price band and Rs 188.70 crore at higher end.

The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. The issue would constitute 10.01% of the post-issue paid up capital of the company. This issue has been assigned IPO grade 3 by ICRA.

The objects of the issue are to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.

The total value of its order book as on July 31, 2007, is Rs 20,495.68 million. These projects include industrial structures, IT parks, commercial building, airport terminal buildings, hotel, hospitals and educational institutions

The book running lead managers to the issue are Enam Securities Private Limited and Kotak Mahindra Capital Company Limited while the co-book running lead manager is Spark Capital Advisors (India) Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.

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Grey Market Premium

Power Grid Corporation : 18 to 19
Dhanus Technologies : 90 to 100
Koutons Retail : 60 to 65
Circuit Systems (India) Ltd. : 4 to 4.5
Consolidated Construction : 100 to 110
Magnum Venture : 2.5 to 3
Kaveri Seeds : 6 to 8

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Koutons Retail India IPO

Issue price / Floor Price (Rs) 370-415
Issue opens 18-Sep-07
Issue closes 21-Sep-07
Listing on BSE,NSE

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