Orchid Chemicals issues convertible bonds overseas to raises $200 million
Mumbai: Orchid Chemicals & Pharmaceuticals has raised $200 million - including a greenshoe amount of $25 million - by issuing zero-coupon, five-year overseas convertible bonds. The bonds are convertible at Rs348.34 a share, which represents a 30 per cent premium to Monday's closing price of Rs267.95 on the National Stock Exchange.
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DLF IPO on schedule
New Delhi: DLF has denied news about its IPO getting delayed. The company filed its DRHP on January 3 with SEBI and is now awaiting approval from the regulator. The officials said that queries regarding the public issue are coming in and the company was replying to the queries.

Earlier media reports suggested that the company's IPO plan is likely to get delayed as SEBI has sent some legal queries to the real estate firm.

K P Singh-owned DLF had filed a new prospectus with SEBI for getting approval for its public offering, being touted as the country's largest, to raise about Rs13,600 crore.

DLF proposes to enter the capital market with a public issue of 17.5 crore equity shares of Rs2 each through 100 per cent book building process. The post-issue dilution of the proposed issue would be 10.1 per cent.

In the earlier attempt to tap the capital market in May 2006, DLF aimed to raise Rs13,600 crore but then it had offered more number of shares amounting to 20.2 crore equity shares, which reflects the company's increased valuation due to acquisition of more land, projects, besides forming a JV with hospitality major Hilton.
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Idea Cellular offers $550-million IPO
Hong Kong: Idea Cellular has begun to market its initial public offering worth up to $550 million. The company is selling shares in India in a price range of Rs65 to 75 that may raise up to Rs24.44 billion ($553 million), market sources said. The books for the deal will close on Thursday afternoon in Mumbai.

Idea Cellular plans to use the IPO proceeds to set up services in Mumbai and move into other regions.

The company has roughly 12 million subscribers, and the high end of its price range values it at 109 times fiscal 2006 earnings per share of 0.69 rupees. Bharti Airtel trades at about 43 times trailing earnings.

The IPO has an over-allotment option of up to Rs3.19 billion.

Idea Cellular, which is controlled by the diversified Aditya Birla group, had earlier raised Rs3.75 billion in a pre-IPO share placement.
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Euro Ceramics IPO over subscribed 3 times
Mumbai: The initial public offering of Euro Ceramics Ltd was oversubscribed 3.02 times on the BSE and NSE as at 7.00 pm. Bids were received across the price band of Rs150-180 per share. A total of 1, 69,89,630 bids were received against the issue size of 56,21,500 while 48,11,240 bids were received at the cut off price.

UTI Securities and Enam Financial Consultants are the book running lead managers to the issue.
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