Daily News from Bse,Nse Stock Markets of India |IPO Information

Gemini Communication Stock Split will be considered in the upcoming board meeting. According to the annoucement made to the exchanges, the company has said that Stock Split will be recommended in the meeting to be held on May, 19th 2008.

Gemini Communication Stock closed negative yesterday by Rs. 6. More information and updates on the Gemini Communication Stock Split will be known after the board meeting.

Frankfinn IPO can be expected next year, Moving forward with its plans to launch a low-cost airline service, Frankfinn Aviation is now mulling a full service airline operation by 2009 end or the beginning of 2010.

Frankfinn the airhostess-training institute is planning an IPO at the beginning of next year.Apart from the IPO route, the company may also invite equity participation from a foreign partner, he said.

Frankfinn had earlier said that it had plans to start only a low-cost airline, competing directly with majors such as Air Deccan, SpiceJet, GoAir and Indigo.

Finalise Project details

The company will operate its airline business under the Air Frankfinn brand and will initially start with six aircraft, Samir Valia, Vice-President, Corporate Communication, told Business Line here, on the sidelines of a press conference. “Our corporate team in Mumbai is in the process of finalising project details. We will initially operate only domestically after getting the necessary approvals from the Government and our aircraft will constitute a mix of large Air bus and small ones,” he said.

An official said the aircraft basket will consist of three to four Airbus 380s and also a few ATRs.

The company has a target of achieving a fleet of 20-30 aircraft in three years. The company has appointed an aviation consultant to finalise the project, industry sources said.

Tie-up wth Jet Airways

Meanwhile, Frankfinn Airhostess Training Institute on Wednesday announced a tie-up with Jet Airways to familiarise its students with off and inflight procedures. The tie-up, however, is not a recruitment arrangement, Valia clarified. The institute’s recruitment tie up with Air Deccan has been terminated, he said.

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The company, which had registered a turnover of Rs 250 crore last year, plans to increase it by 25-30 per cent this year with 20-25 more centres coming up in the same period, Valia said.

Texmaco board to consider dividend and stock split in their upcoming meeting.  A meeting of the board of directors of Texmaco, will be held on May 16, 2008, to consider financial results of the company for the year ended Mar. 31, 2008 and further the board will consider dividend and Stock Split of equity shares of the company.

Texmaco announced a phenomenal rise in standalone net profit for the quarter ended December 2007. During the quarter, the profit of the company rose 2.07 times to Rs 145.81 million from Rs 70.29 million in the same quarter, last year.

Texmaco Net sales for the quarter jumped 84.66% to Rs 1,605.43 million, while total income for the quarter jumped 85.10% to Rs 1,625.18 million, when compared with the prior year period. The company posted earnings of Rs 14.12 a share during the quarter, registering 2.07 times growth over prior year period.

Shares of Texmaco gained Rs 29.65, to close at at Rs 1,459.8 on the BSE. Texmaco Stock Split Ratio and record date will be known only after the board meeting. Do check back for Texmaco Stock Split Details.

The country’s first power trading exchange, India Energy Exchange (IEX), will be up and running in the next 15 days. The project was earlier expected to be operational before the end of last fiscal but was later delayed. Mock drills have been carried out to eliminate anomalies in the system.

India Energy Exchange (IEX) is being promoted by Financial Technologies (India) Ltd and PTC India Ltd, with Reliance Energy, Tata Power Company, Lanco Infratech, Adani Enterprises, REC, and Infrastructure Development Finance Company (IDFC) being the other shareholders in it.

Operations of IEX
Initially, IEX will operate a day-ahead market with features like closed auction with double-side bidding and clearing at uniform price. “This will bring transparency and clarity to the power trading business, which will be driven solely by price and volumes,” Shekhar said.

Currently, the power trading market in India is pegged at 20 billion units a year with a growth rate of 33%. PTC India, the country’s sole public sector trading company, has near monopoly in this field. Last year, it traded close to 9.9 billion units. The day-ahead market is 15% of the total traded market of 20 billion units, Shekhar said. With greater acceptance and demand, products such as week-ahead, month-ahead, seasonal and one-year contracts will also be introduced.

Shekhar said that there would be no potential for speculation like in commodity exchanges because the IEX will deal only in deliverables for the next day. “It will be a physical market and all clearances will take place the very next day. There is no scope for non deliverables and non physical market at this exchange,” he said.

Types of Members in  India Energy Exchange

There will be two types of members under IEX - proprietary and professional. Proprietary members will be those that are grid connected-such as state utilities. They will be direct members.

According to PTC India director Shashi Shekhar, the infrastructure is now in place. “We are ready to start the day we get a green signal from CERC,” he said.

Gokul Refoils And Solvent IPO will hit the markets on May 8th, with an public offer of over 71.5 lakh equity shares of Rs. 10 each to be issued at a price band of Rs. 175 to Rs. 195. Gokul Refoils IPO will open for subscription on May 08, 2008 and the issue closes for subscription on May 13, 2008.

About the Company

Gokul Refoils And Solvent Limited, a Gujarat based company, engaged in the business of solvent extraction, refining of Edible oils and Vanaspati manufacturing. The company markets its products under the brand name “Gokul” in the states of Gujarat, Maharashtra, Rajasthan, Delhi, Haryana, J&K, Himachal Pradesh, Uttar Pradesh, Maharashtra, Bihar, Jharkhand, Chhattisgarh, Sikkim and Punjab. The brand has also been marketed in parts of Uttaranchal, Assam, West Bengal and Tamil Nadu.

The brand enjoys a national recognition and the products that are packed and sold include Mustard oil, Sunflower oil, Groundnut oil, Cottonseed oil, Palmolein oil, Vanaspati oil and Soya Bean oil these are not only sold in bulk quantities but also consumer retail packs of 15 Kgs, 15 Litre, 10 Litre, 5 Litre, 1 Litre and 500 ml. Pan India distribution network spread across 19 States catered by 18 C&F agents and 802 distributors, 3 depots, 15 brokers and 295 resellers, distributing Gokul products through a total 1133 bulk points.

Financials of the company:

Gokul Refoils and Solvent Limited consolidated total income for the financial years ended March 31, 2007 stood at Rs. 1599.86 crore and Rs.1347.82 crore for the period ended November, 2007. Profit after tax (PAT) for the FY07 was Rs. 25.73 crore, and Rs.41.83 crore for the period ended Nov 30, 2007.

Company’s standalone sales has grown at a CAGR of 39.30% over the last 5 financial years and its standalone PAT has increased at a CAGR of 41.16% over the last 5 financial years and EPS reported a growth of 24 % in last 3 years.

Purpose of the Gokul Refoils IPO

The company plans to used the proceeds raised from the issue , To set up a new 1500 TPD Soyabean processing plant near Gandhidham, Expansion of its existing edible oil refinery at Surat from 100 TPD to 400TPD ,Investment in its wholly owned Singapore subsidiary and Investment in increasing warehousing capacities and continuous Capex for existing units.

Gokul Refoils & Solvent IPO Grading

ICRA has assigned an ICRA IPO Grade “3/5″ (pronounced “three on five”) to the proposed initial public offering of Gokul Refoils and Solvent Limited which indicates average fundamentals.

The Book Running Lead Managers to the Gokul Refoils IPO are Anand Rathi Financial Services Limited and Intensive Fiscal Services Private Limited.

For information and updates on the Gokul Refoils & Solvent IPO Subscription details and Gokul Refoils IPO Review do check back later.

Anu’s Laboratories IPO is ready to hit the markets on 12th May, 2008 with an issue of over 38 lakh equity shares of Rs 10 each with a price band of Rs 200 to Rs 210 per equity share with the subscription of the issue closing on15th May 2008.

About the Company

Anus Laboratories is engaged in the manufacture of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers. The company was incorporated in 1996 for manufacturing of Bulk Active Pharma Ingredients and Intermediates for drug molecules and was promoted by Mr. K. Hari Babu. The Company exports its products to Israel, Italy, Japan, France, USA and Singapore which comprise of 19.97% of the total sales turnover.

Financials of the company

Anu’s Laboratories total income during the Financial Year ended March 31, 2007 was Rs 12,129.52 lakhs as against Rs. 9,533.93 lakhs in the Financial Year ended March 31, 2006 and the net profit during the corresponding period was Rs 1,359.15 lakhs against Rs. 557.25 lakhs respectively. The total income and the net profit for the nine months period ended December 31, 2007 were Rs. 11,382.26 lakhs and Rs. 1,312.36 lakhs respectively.

Purpose of the Anus Laboratories IPO

In order to expand its current activities by means of forward integration, the Company has decided to expand its operations by setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients (APIs) at Vishakhapatnam.

With an estimated cost of Rs 55.09 crores and setting up a pilot plant for carrying out Contract Research and Manufacturing (CRAM) at Vishakhapatnam at an estimated cost of Rs 8.34 crores.The long term working capital requirements would be Rs 16.67 crores. The Company plans to meet the aforesaid objects by means of issue proceeds and internal accruals.
Anu’s Labs IPO Grade:
The IPO has been graded by ICRA and has assigned “ICRA IPO Grade 2” to the Initial Public Offering which indicates below average fundamentals of the issue.

Book Running Lead Manager to the Anus Laboratories IPO is Almondz Global Securities Ltd, and Karvy Computershare Pvt Ltd is the Registrar for the Issue. The Equity shares of the Anu’s Labs IPO are proposed to be listed on BSE.

For information and updates on the Anu’s Laboratories IPO and Anus Labs IPO Subscription details do check back later. Keep visiting for Anu’s Laboratories IPO Review and Anus Labs IPO Allotment details.

The rupee dips to an 8-month low against the dollar. The US currency rose on consistent demand from oil importers, while inflows from FIIs were not forthcoming.

The breach of the Rs 40.80 technical barrier led to some exporter cancellation. The RBI has refused to let the rupee appreciate as a tool to tame inflation. This will be a bit of releif for the exporters and the IT Companies as they have major financial dealings in the Rupee.