GPL to float IPO to raise Rs1200-crore
New Delhi: Gopalpur Port Limited (GPL) plans to float an IPO to raise Rs1200 crore from the markets to funds the port the company is developing on Built Operate Owned Share and Transfer (BOOST) basis in Orissa's Ganjam district.

The company would raise Rs1,200 crore from the market and the remaining funds would come from internal resources and would be private equity.

GPL is a Special Purpose Vehicle (SPV) formed by a consortium of three companies- Sara International Limited, Orissa Stevedores Limited and Hong Kong-based Noble, to develop the Gopalpur Port.

The consortium had signed an agreement with the Navin Pattnaik government on September 16, 2006, on developing the port, which mandated them to develop it within 12 months. "However, we have more than matched the deadline and are slated to begin the first phase of the port operations on January 15, for which we have already spent Rs150 crores," he said.
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Karvy case to be wrapped up by Mar 31
Mumbai: The Securities Appellate Tribunal (SAT) has fixed March 31 as the deadline for the Securities and Exchange Board of India (Sebi) to complete its enquiry into Karvy Stock Broking's involvement in the multicrore initial public offering (IPO) scam.
SAT asked the market regulator to pass final order in this regard by May this year.

Last year Sebi prohibited Karvy from opening fresh demat accounts as a depository participant pending enquiry into the IPO scam.

Dismissing an appeal by Karvy against the Sebi order, SAT said: "The Sebi enquiry.
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Emaar set to float Rs13000-crore IPO
Mumbai: Emaar MGF, the Delhi-based real estate major, is planning to raise around Rs13,000 crore from the capital market to fund its rapidly growing property development business in India.

DLF recently filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer of Rs13,500 crore.

This is the country's largest IPO till date. Sources close to the development said the Emaar MGF IPO is expected to hit the markets in the second half of 2007.
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24/7 Customer plans initial public offering
Bangalore: 24/7 Customer, a $70 million BPO services provider plans to tap the capital market, but not in the immediate future.

This follows the successful public offering of its peers such as WNS and EXL Services which went public in the US market. 24/7 Customer, funded by Sequoia Capital and Ram Shriram, expects its topline to hit $100 million by the end of this fianancial year.

According to analysts, the company will be preparing for the maiden float after the current fianancial year. It would look at a Nasdaq listing in 2007-08. 24/7Customer has almost doubled its revenues from $39 million during 2004-05 to $70 million in 2005-06.

Sequoia Capital had invested $22 million for around 25 per cent stake, while the promoters along with employees hold the majority stake.
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