Bartronics lists at premium of 73 percent on BSE
Mumbai: Bartronics India, a software and computer services company, listed on the stock exchanges at Rs130, a premium of 73.33 per cent against its IPO price of Rs75.

The scrip touched a high of Rs135 and a low of Rs109.25 before closing at Rs110.60 with traded volumes of 5.7mn shares on BSE.
The issue closing December 24 was subscribed 29.08 times.

The company intends to deploy net proceeds of the maiden issue for funding the capital expenditure requirements for setting up a R&D Technology Centre, setting up of branches in India and abroad, and for repaying the high cost loans.
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Maruti gets Rs.15.67-bn for 8 per cent stake sale
New Delhi: The Government sold an 8 per cent stake in Maruti Udyog for Rs15.67-bn to eight public sector Banks, financial institutions (FIs) and insurance companies. The largest part of the stake went to Life Insurance Corp. of India (LIC) which picked up over 50 per cent of the 23,112,804 shares that were on offer. LIC got 16,800,000 shares of Maruti at Rs682 per share.

SBI got 3,927,074 shares at Rs660 a share. The average price of the transaction works out to be Rs678.24 a share, against the reserve price of Rs620 a share fixed by the Government.

Others included SIDBI, which quoted the highest price of Rs725 per share, Corporation Bank (Rs690), EXIM Bank (Rs680), Indian Bank (Rs670), Union Bank of India (Rs665) and State Bank of Patiala (Rs660).
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Another IPO scam emerges in IDFC IPO
Mumbai: SEBI has uncovered a second scam in IDFC's initial public offering (IPO) where a few investors opened over 14,000 dematerialised accounts to corner large number of shares of the company.

SEBI said in IDFC's IPO four investors opened as many as 14,807 dematerialised accounts with Karvy-DP and, all these account holders have their bank accounts with Bharat Overseas Bank, Ahmedabad.

SEBI said: "further probe is required for examining the systemic fault, if any, of the registrar Karvy-RTI i.e. Karvy Computer Shares P Ltd, and the lead managers Kotak Mahindra Capital Company, DSP Merrill Lynch Ltd and SBI Capital Markets Ltd in identifying and weeding out the benami applications."

According to SEBI, Karvy-DP, also named in the YES Bank IPO case has not adhered to `Know-your-Client' norms, as per the reports of inspection submitted by NSDL and CDSL on the DP. Also, some of the documents collected by CDSL during the course of inspection show that Karvy-DP has obtained letters purportedly issued by the banks' concerned such as BhOB as proof of identity and proof of address of the person for the purpose of opening dematerialised accounts.

SEBI said one branch manager has on the same date signed as authorised signatory of different branches of the bank raising doubts as to the authenticity of the bank documents obtained by Karvy-DP for opening dematerialised accounts.

SEBI has banned four investors (in whose names the multiple accounts were opened) viz., Ms Roopalben Nareshbhai Panchal (who was also named in the YES Bank IPO scam), Sugandh Estates & Investments, Purshottam Ghanshyam Budhwani and Manojdev Seksaria from doing any kind of transactions in the securities market, till further directions.
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