Power Finance IPO launch at month end
Mumbai: Power Finance Corporation (PFC) is planning to offer 11,73,16,700 shares in an initial public offering (IPO) by the end of this month. The company is offering its shares in the IPO in the price band of Rs73-85 per share.

The IPO will open on January 31 and close on February 6 and will constitute 10.22 pc of the fully diluted post-issue capital of the company.

The issue comprises of up to 25,00,000 shares reserved for employees and a public offer of 11,48,16,700 shares.

The company will raise Rs856 crore at the lower band and Rs997 crore at the upper band of the offer.
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GBN IPO subscribed nearly 42 times
Mumbai: The initial public offering (IPO) of Global Broadcast News (GBN), which owns and operates CNN-IBN, the 24-hour English news channel, was subscribed 42 times. The company has decided not to accept applications by foreign investors for its maiden float as the foreign direct investment (FDI) limit in media is 26 per cent, and purchase of shares through the IPO is considered as FDI.

Analysts also said if FIIs are allowed entry through IPO, it leaves little room for the company to induct a foreign partner at a later date.

The retail portion of the IPO, which had a price band of Rs230-250 per share, was subscribed 34 times, the qualified institutional buyers (QIB) segment was subscribed 37 times and the high networth investor segment was subscribed 109 times, as per the information available at 7 pm.

The company is offering an estimated 4.2 million equity shares if the price fixed at lower side (Rs230) or 4.6 million equity shares if it is at the higher side (Rs250).

Kotak Mahindra and ICICI Securities are the book running lead managers while JM Morgan and IL&FS are co-book running lead managers to the issue.
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Transwarranty Finance IPO launch on Jan 23
Ahmedabad: Transwarranty Finance, a professionally managed financial services and investment banking company, is entering the capital market next week to raise funds for increasing the scale of operations and geographic expansion. The IPO will open on January 23 and close on February 2. The price band will be between Rs48 and Rs55 and the company proposes to list the equity shares on the BSE and NSE.

The company proposes to offer 6,000,000 equity shares of Rs10 each for cash at a premium.

The issue comprises net issue of 5,900,000 equity shares to the public and a reservation of 1,00,000 shares for eligible employees. The issue would constitute 42.86 per cent of the post-issue paid-up capital of the company.

The issue is being made through 100 per cent book building process wherein at least 50 per cent of the net issue will be allocated on a proportionate basis to qualified institutional bidders (QIBs). Five per cent of the QIB portion will be available for allocation on a proportionate basis to MFs only, 15 per cent of the Net Issue will go on a proportionate basis to non-institutional bidders and 35 per cent to retail individual bidders, he said. IDBI Capital Market Services Ltd is the sole book running lead manager to the IPO.
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