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May 13, 2010Have US and Europe already Lost the Green Industry Leadership to China
May 13, 2010I have been writing about the rash of low quality offerings in the Indian market.Many of these companies are trading below their list prices because investors are refusing to chew on these low quality names.Despite the market volatility seen in the wake of the last week’s Greek crisis,India seems set to see more offerings.While some of these IPO’s are no doubt of good companies from the public sector like Coal India and Engineers India,the rest are of doubtful fundamentals.Many of them are from the cash strapped real estate space which is difficult to value.Would advise readers to be extremely discerning if they want to invest here.
Companies line up IPOs in a volatile market – Financial Express
A flurry of initial public offerings (IPOs) is expected to hit the market in the next three months.. The IPOs will be in sectors ranging from real estate to infrastructure to education.Foreign bank Standard Chartered Plc is coming out with Indian Depository Receipts by this month-end to mop close to Rs 4,500 crore, as per reports.
The government aims to raise about Rs 40,000 crore through stake sale in state firms in 2010-11. Engineers India and Coal India are slated to hit the capital market in June and August respectively, while the Hindustani Copper issue is likely in August/September.
At about Rs 12,500 crore, Coal India might be the biggest IPO to hit the capital market. Investment bankers believe that such a large issue will not hinder the prospects of other issues as there is ample liquidity in the market. Institutional and not retail participation will be critical for its success, they also feel.
A host of private sector companies are lining up to hit the market. Investment bankers feel that Jan Infraprojects and J Kumar Infraprojects (real estate), Bhaskar Power Projects (power), Apollo Pharmacy (healthcare) and Career Launcher (education) may hit the market.Realty companies Lodha Developers (estimated issue amount Rs 3,000 crore), Emaar MGF Land (Rs 3,850 crore) and Oberoi Realty (Rs 1,000 crore) have got Sebi approval. In infrastructure, PNC Infratech, Sterlite Energy and Indosolar have got the Sebi nod.
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