Capstocks set to expand operations
Thiruvananthapuram: Capstocks & Securities Ltd (Capstocks), engaged in a slew of services, is set to open six more branches in the country, as well as start overseas operations. The stock broking company is opening new branches in New Delhi and Mumbai, and will also open new branches over the next three months in Coimbatore, Mangalore, Technopark (Thiruvananthapuram) and Thiruvalla in Kerala.

Company officials said that the company would open a representative office at Sharjah Airport International Free Zone in a month's time. The company was trying to rope in a local partner to start a subsidiary company there.

Capstocks already has branches at Thrissur, Kozhikode, Palakkad, Thodupuzha, Irinjalakkuda and Kollam in Kerala and in metros such as Chennai and Bangalore. It is a member of the National Stock Exchange, depository participant of the Central Depository Services Ltd. (CDSL) and a SEBI-registered portfolio manager. It intends to take membership in Bombay Stock Exchange as well, company officials said.

The company is offering its clients commodity trading facility through its subsidiary company, Capstocks Financial Services Ltd, which is a member of Multi Commodity Exchange of India Ltd (MCX).

The other services provided by the company include online trading, Internet trading, derivatives trading, portfolio management services, research and analysis, technical analysis and NRI services mutual funds.
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Kotak Mahindra to launch flexi-cap scheme
Mumbai: Kotak Mahindra Mutual Fund is set to launch a flexi-cap fund called the Kotak Focussed Equity Fund. The fund is an open-ended equity scheme that will invest in equity and equity-related instruments across the market irrespective of capitalisation.

The fund can invest 65-100 per cent in equity and equity-related securities. Up to 35 per cent of the corpus of the fund can be in debt and money market instruments.

The offer document of the fund, now filed with the SEBI, says that the portfolio of the fund will generally not exceed 20 stocks. The fund will be benchmarked against CNX 500.

The minimum investment amount for the fund will be Rs5,000. The fund will charge an exit load of 2.25 per cent for redemptions within one year, and an entry load of 2.25 per cent on direct investments of less than Rs3 crore. The scheme will offer both growth and dividend options.

The fund could also invest in derivative instruments such as index futures, stock futures, index options, stock options, warrants, and other derivative instruments that are permitted by SEBI, according to the offer document.
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IPOs for over Rs4,000 crore set to hit the market
Mumbai: Companies from varied sectors with consistent track record and profitability are set to tap the capital market for fresh funds over the next 6-8 weeks, with the issues expected to raise over Rs4,000 crore.

Among companies slated to hit the primary market in the next few weeks are IVRCL Infrastructure, Jaiprakash Hydro-Power, 3i Infotech (formerly ICICI Infotech), Gokuldas Exports, Oriental Bank of Commerce, Allahabad Bank, Shringar Cinema and Shoppers' Stop. Some small IPOs are also scheduled for this period, investment bankers said.
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Yes Bank files prospectus for IPO
Mumbai: Yes Bank has filed its red herring prospectus with SEBI to enter the capital market with a public issue of seven crore equity shares.

The price of the shares having a face value of Rs10 will be fixed through the book-building process. The issue is likely to hit the market in the second week of April, bank officials have said. Yes Bank is raising the money primarily to invest in retail infrastructure, build a capital corpus and increase the single borrower and group eligibility limit.

Currently, the bank has four branches and licences for 16 branches. By March 2006, it hopes to increase the number of branches to 30. The bank also wants to focus on corporate lending and middle market lending. The promoters of Yes Bank, Rana Kapoor and Ashok Kapur, currently hold 52.1 per cent of the outstanding equity shares. After the public issue, their stake will come down to 40 per cent. Similarly, the stake of Rabobank International will come down from the current 20 per cent to 15 per cent.

The three foreign private equity investors in Yes Bank are Citicorp International Finance Corporation with a 10 per cent holding, ChrysCapital with 7.5 per cent and AIF Capital with 7.5 per cent. After the issue their joint stake will come down to approximately 17 per cent, officials said.

Of the seven crore shares on offer, Yes Bank plans to allocate up to 50 per cent to qualified institutional buyers, 25 per cent to non-institutional bidders and 25 per cent to retail investors.
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