ICICI Bank to launch FPO on June 19
Mumbai: ICICI Bank has received the nod from the Securities and Exchange Board of India (Sebi) for its follow-on public offer (FPO). The issue of around Rs10,000 crore will open on June 19 and close on June 22.
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Southern Iron allots shares at a premium of Rs52 to FIs
Mumbai: Southern Iron and Steel Company promoted by the Jindals has allotted 2.56 crore equity shares at a premium of Rs52 per share against the optionally convertible loan of Rs158.93 crore to banks/financial institutions.

The company also proposes to convert the balance optionally convertible loan of Rs236.44 crore into equity. For this, the company will grant an option to the banks/financial institutions to convert either into equity at a premium of Rs52 per share or into 10 per cent cumulative convertible preference shares with the option to convert into equity.
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DLF IPO gets fully subscribed on 2nd day
Mumbai: The initial public offering of real estate company DLF was subscribed 1.28 times on the second day of the book building process on the BSE and NSE mainly due to the large number of bids received for the Qualified Institutional Bidders' (QIB) portion.

A large number of bids were received at the lower end of the price band at Rs500-Rs 550. A total of 22,31,29,480 bids were received against the issue size of 17.50-crore equity shares.

The QIB portion was subscribed 2.08 times. Not much response was seen in the retail individual investor portion and the non-institutional investor portion, which were subscribed 0.10 times and 0.026 times respectively.
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FII limit raised to 75 pc in Rolta
Mumbai: Rolta India has received shareholder approval for enhancing the limit on FII investment in the paid-up equity capital of the company from 40 per cent to 75 per cent, and for raising equity linked funds of up to $250 million (Rs100 crore). The FII investment exclude non-resident Indian and overseas corporate body investments. The company has also received approval to issue any equity linked foreign/ Indian securities such as foreign currency convertible bonds (FCCBs), American depository receipts (ADRs) global depository receipts (GDRs), or equity shares through qualified institutional placements (QIPs) for an amount not exceeding $250 million or equivalent Indian rupees.
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SEL Manufacturing plans IPO
Mumbai: SEL Manufacturing Company, which manufactures and exports knitted garments, fabrics and combed and carded yarn, is entering the capital market with a public issue of 53,99,210 equity shares of Rs10 each to fund its expansion project.

The company plans to expand capacities in garmenting, knitting and spinning at a cost of Rs184.57 crore.

Post expansion, the company will have garmenting capacities of 6 million pieces per annum from the current 4.5 million pieces per annum, fully backed by facilities for spinning, fabric knitting and processing. The debt component of the project cost of Rs103.79 crore would be covered under the Technology Upgradation Fund Scheme.

UTI Bank Ltd has been mandated as the Book Running Lead Manager for the IPO.
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Celestial Labs to tap capital market
Mumbai: Celestial Labs, a Hyderabad based company in the bio-informatics and bio-technology sector, is entering the capital markets with an initial public issue of 50-lakh equity shares of Rs10 each at a price of Rs60 per share aggregating Rs30 crore.

The issue will open on June 18 and close on June 22.

Of the total issue, 2-lakh shares have been reserved for employees and the net offer to the public constitutes 48-lakh shares. The issue comprises of 44.67 per cent of the fully dilutes post-issue paid capital of the company.
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Goldman Sachs strengthens position in KEI Industries
Mumbai: Goldman Sachs Investments (Mauritius) has strengthened its position in KEI Industries.

The board of directors of KEI Industries at its meeting yesterday issued 1.29 lakh shares of Rs2 each upon conversion of Foreign Currency Convertible Bonds (FCCBs) worth 250,000 dollar to Goldman Sachs Investments (Mauritius) I Ltd, KEI Industries said in a communique to the Bombay Stock Exchange.

These shares were issued at Rs86 per share in accordance with the terms of the FCCB issue made by company on November 29, 2006 and rank equal with the existing equity shares of KEI Industries.

After this allotment, the issued, subscribed and paid-up share capital of KEI Industries stands at Rs11, 81, 99, 022.

For the quarter ended March 31, Goldman Sachs had over 13.13 lakh shares representing 2.23 per cent stake in the company, as per data available on BSE.

Shares of the company closed at Rs83.05, down 2.64 per cent on BSE.
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