SC lifts stay on Shoppers' Stop IPO
New Delhi: The Supreme Court has stayed an interim order of the Shillong Bench of Guwahati High Court restraining the IPO of leading retailer Shoppers' Stop, giving the go-ahead for its Rs150 crore initial public offer (IPO).

The bench headed by Justice N Santosh Hagde, said that the interest of justice will be met only by staying the impugned order of the High Court. Ensuring a hassle free IPO, the court said till it decided the matter no other court or forum shall pass any interim order pertaining to the IPO.
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Birla MF opts for CAMS as its transfer agent
Kolkata: The Birla Mutual Fund has mandated the Computer Age Management Services (CAMS) as its registrar and transfer agent, snapping ties with Citibank in the process.

The fund has said that they had opted for CAMS keeping in view three factors, namely the experience that the Chennai-based outfit had gained so far, its pioneering status in the business and its leadership position in terms of servicing.

Birla MF, which had used Citibank's services for several years, has also advised its investors to take note of the change. The fund's latest move marks a shift to a service-provider that is said to command roughly more than 50 per cent of the market.

CAMS, which originally came up as a software developer, moved over from capital market transaction processing to transaction processing for MFs. It currently caters to more than a dozen fund houses.

The HDFC group owns a critical share of the company's equity.
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Prudential ICICI launches Blended Plan for equity and derivatives market
Kolkata: The Prudential ICICI MF has launched a fund that will use arbitrage opportunities as they arise in the equity and equity derivatives markets.

According to the MF, the Prudential ICICI Blended Plan will strike a mix between equity, debt, money market instruments and derivatives, aiming at capital appreciation and income distribution. The idea is to generate risk-adjusted returns for unit holders.

The fund offers two plans, both of which will pursue a spot-future arbitrage strategy. Plan A will try to maintain 50 per cent exposure to fully hedged equity, up to 49 per cent in money market securities and a small percentage in equity, adequate to cover the 51 per cent required exposure. Plan B will invest between 51-100 per cent in money market instruments and the balance in fully hedged equity.

The plans, the press note said, will be available for subscription (after the closure of the IPO) on an ongoing basis during business days falling between 17th and 22nd of every month. Under both plans, investors have a choice between growth and dividend options.
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IL&FS Investsmart files prospectus for IPO
Mumbai: IL&FS Investsmart, a financial services company, has filed a draft red herring prospectus for an initial public offering (IPO) of 1.14 crore equity shares with SEBI. While 88 lakh shares will be freshly issued, the balance 26 lakh shares will be for sale by various investors in the company.

The shares, with a face value of Rs10 each, will be offered for cash at a price to be decided through a 100 per cent book-building process. The issue is slated to hit the capital markets in June 2005, IL&FS Investsmart has said in a press release.

According to the company, the issue proceeds would be used to fund the expansion of its domestic and global branch network, technology investments in existing business and scaling online trading business. Following our strategic tie-up with E*TRADE and Softbank, the company will be able to improve its focus on online and international businesses to offer world-class services to our clients.

IL&FS Investsmart intends to expand its branch network in major centres to offer a complete range of financial management solutions for corporates and individuals. It also plans to set up branches at Singapore, Hong Kong, Dubai, London and New York.

The company has appointed SBI Capital Markets Ltd, Enam Financial Consultants and Kotak Mahindra Capital Company as the book running lead managers.
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Gokaldas Exports debuts at the bourses at hefty premium
Mumbai: The shares of Gokaldas Exports made their debut on the BSE at Rs566 on Wednesday, a premium of 33.18 per cent to the issue price of Rs425. The shares moved up further to Rs665 and ended the session at Rs630.45 on the BSE. A total of 40.62 lakh shares were traded.

On the NSE, the stock opened at Rs500, and touched a high of Rs668.90 and a low of Rs500. The stock closed at Rs629.60. The shares traded were 63 lakh shares and the turnover was Rs402.29 crore.

Gokaldas Exports had raised Rs132.81 crore during the IPO.
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India Infoline IPO oversubscribed 6.6 times
Mumbai: India Infoline's IPO has been oversubscribed more than 6.6 times as per the details available with stock exchanges' web sites. The issue received bids for 7.83 crore shares compared to the issue size of 1.18 crore.

The IPO had a price band of Rs70-80 and the issue closed on Wednesday. Maximum number of bids for 7.76 crore shares were received at upper price band of Rs80.

As per the details till Tuesday, FIIs were the major investors in the company.
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