INDIA INC RIDES RECOVERY WAVE, RAISES $16.7 BLN IN APR-DEC

Despite poor participation from retail investors, India Inc raised $16.7 billion (Rs 78,000 crore) through equity issues in the first eight months of the current fiscal, five times that in the entire financial year ended March 2009, as foreign investors returned and companies resumed expansion activities.

The pick-up in fund-raising coincided with the economy showing clear signs of revival and the sharp rebound in stock market valuations after they hit a low in early March.

However, the amount raised so far in the current fiscal is still far lower than in the corresponding period of 2007-08, a boom year for the stock markets. India Inc raised Rs 125,526 crore between April and November 2007.

The Economic Times

Spice plans $100 mn mobile services IPO

Indian conglomerate Spice will list its mobile services unit in May or June this year in Singapore and Bombay in an initial public offering (IPO) worth $100 million, its chief executive said on Monday. Spice, which owns telecommunications firm Spice Communications and Spice Mobiles, is looking to list its mobile value-added services firm, Cellebrum, on the Bombay and Singapore stock exchanges. It will also list its mobile retail unit, Hot Spot, at year-end.

Mint
http://www.livemint.com/2008/01/21094941/
Spice-plans-100-mn-mobile-ser.html

Reliance Power IPO | Indian institutions outbid foreign investors

The Anil Ambani-controlled Reliance Power Ltd’s public float that saw subscriptions of $190 billion has the who’s who of international investors putting in bids for the company’s shares. According to a source close to the development, foreign institutional investors (FIIs) accounted for nearly half the demand for the issue. FIIs such as Deutche Bank, UBS Securities, ABN-Amro Securities, Macquarie Securities and Merrill Lynch have put in bids ranging from $13.9 billion to $1 billion for shares on offer to institutions. The George Soros-controlled Quantum Fund is said to have put in a bid of $1.6 billion.

Mint
http://www.livemint.com/2008/01/20190149/
Reliance-Power-IPO----Indian.html

Rel Power IPO to make Anil richest Indian

Reliance Power Ltd's IPO, the country's biggest, has helped the promoter Anil Ambani whiz past elder brother Mukesh and NRI tycoon Lakshmi Mittal at the top of India's richie-rich club, with his wealth soaring to more than 60 billion dollars. As per a list of richest Indians put out by renowned business magazine Forbes late last year, Mittal and Mukesh Ambani were ranked at the top two positions, followed by Anil at the third position.

The Financial Express
http://www.financialexpress.com/news/
Rel-Power-IPO-to-make-Anil-richest-Indian/263561/

Reliance Power IPO subscribed 72.58 times

The initial public offer (IPO) of Reliance Power Ltd (RPL), which closed for subscription on Friday, received overwhelming response from the investor community. The issue was subscribed 72.58 times with the total number of bids received standing at 1,654.80 crore-equity shares against the issue size of 22.80 crore-equity shares as per the National Stock Exchange (NSE) demand graph. The total bids received at the cut-off price were 87.31 crore-equity shares.

The Financial Express
http://www.financialexpress.com/news/
Reliance-Power-IPO-subscribed-72-58-times/263146/

BSNL mulls IPO, valued at over $ 100 bn

State-owned telecom firm Bharat Sanchar Nigam Ltd, which has been valued at over 100 billion dollar (Rs 400,000 crore), is considering an IPO to dilute up to 10 per cent of its equity to fund expansion plans.

The Financial Express
http://www.financialexpress.com/news/
BSNL-mulls-IPO-valued-at-over-100-bn/261324/

Reliance Power IPO beats expectations

Power on. India on. That’s the ad slogan for Reliance Power. On Tuesday, as India’s largest initial public offer received an overwhelming response on day one of subscription, it seemed to be a case of ‘Reliance Power on, Dalal Street off’. The 22.85 crore share mega issue, looking to raise roughly Rs 11,000 crore, was fully subscribed under a minute of the start of bidding, making you wonder if there were any early-bird prizes on offer. At last count, bids for more than 10.5 times the issue size had been received.

The Economic Times
http://economictimes.indiatimes.com/
Reliance_Power_IPO_beats_expectations/
articleshow/2703391.cms

World's top IPO - $8-bn; India's total - $8.3-bn

Indian bourses saw over eight billion dollars worth of initial public offers in 2007, but this is just a shade higher than the world's single-largest IPO that was brought by a Russian company, latest data show. The worldwide IPO activity raised a record capital of 255 billion dollars till November in 2007, including 8.3 billion dollars on Indian bourses, according to data compiled by international consultancy firm Ernst and Young. India was the fifth largest market in terms of number of IPOs and seventh largest in terms of the proceeds for the year, E&Y said.

The Financial Express
http://www.financialexpress.com/news/
Worlds-top-IPO-8bn-Indias-total-8-3bn/254467/