House of Pearl enters into pre-IPO deal
New Delhi: Ready-to-wear garments company House of Pearl Fashions has signed an agreement with Lesing Mauritius for a pre-initial public offer investment in the equity shares of the company.

As per the terms of the pre-IPO agreement, a maximum of 135,606 equity shares will be issued to Lesing Mauritius at Rs660 per share for an aggregate amount of Rs8.95 crore.

The company had filed its draft Red Herring prospectus with the Securities and Exchange Board of India on October 11, 2006 with its proposal to access the capital market with its IPO of 6,120,600 equity shares through the 100 per cent book-building process to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

After the pre-IPO investment, the number of equity shares to be issued to the public in the IPO would be reduced to the extent of the number of equity shares issued to Lesing Mauritius Ltd.

Post-IPO, the promoters would hold close to 67 per cent stake in the company depending on how the greenshoe option was exercised. The issue is expected to hit the capital markets after the second week of January.
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New entrants gain in F&O
Mumbai: Twenty-six new entrants in the futures and options (F&O) segment rose on debut, gaining 5 to 10 per cent on hefty buying from retail investors and operators.

On December 29, 35,345 futures contracts valued at Rs792.71 crore were traded on the NSE. The aggregate volumes were at 30.50 million shares, of which 13.89 million shares were carried forward as open interest positions.

The biggest gainers were GTL, Tata Teleservices, HCC, Triveni Engg, Nagarjuna Const, Praj Ind, GDL, Balram Chini, Kotak Bank and JP Aassociates.
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BSE, NSE develop common portal
Mumbai: The BSE and the NSE are developing a common portal for dissemination of filings of corporates listed on the stock markets and it is expected to go live by January 1, 2007, an official release said.

Listed companies will be encouraged to file electronically either through the BSE or the NSE filing system. Information filed electronically would be available on a common portal for dissemination. SEBI will mandate the electronic filing by the listed companies in a phased manner.
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Nissan Copper lists at 2.5 pc premium
Mumbai: The stock of Nissan Copper debuted on the BSE with a narrow premium of 2.56 per cent at Rs40 against the offer price of Rs39. The stock, in the course of the day, touched an intra-day at Rs135.70 before closing at Rs128.80 with a total of 6.11 crore shares being traded on the BSE.

On the NSE, the stock opened at the offer price but gained further during the day at Rs136.90 and settled at Rs130.90. Total traded shares on NSE were about 7 crore shares.
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Merrill Lynch, ChrysCapital invest Rs192-crore in Shriram City
Chennai: Merrill Lynch, Chrys Capital and Cambridge Place Investment Management have acquired a total stake of 30 pc in Shriram City Union, putting in an additional capital of Rs192 crore in Shriram Group's retail finance company. The three new investors have picked up 40 lakh shares each at a price of Rs160 a share.

With this, Shriram City's equity capital base would increase to Rs43 crore from Rs27.1 crore, and promoters' holding would come down to 54 pc from 73.37%. Merrill Lynch made its investment through its arm Indopark Holdings and Chrys Capital through Van Gogh. Spark Capital facilitated the deal.
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