IPO

An Initial Public Offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. In case, the company chooses the equity route, the first such offering of equity shares to the public via listing of the shares in the stock markets is called an IPO.

In accordance with the SEBI circular No. CIR/CFD/POLICYCELL/11/2015 , all IPO application forms should be supported by ASBA with client signature on the IPO form. Hence, we request you to visit our branch to subscribe to the IPO, alternatively you may visit your bank branch to submit the IPO subscription form.

Current Issues More

Company Issue Open Issue Close Issue Type Offer Price(`) Download Action
Globalspace Technologies Ltd 26 Jul 28 Jul Fixed Price - SME 66.00 No File Place Order
Keerti Knowledge & Skills Ltd 24 Jul 28 Jul Fixed Price - SME 52.00 No File Place Order
Total Transport Systems Ltd 25 Jul 28 Jul Fixed Price - SME 45.00 No File Place Order

New Listing Issues More

Company Date Listing Price(`) High(`) Low(`) LTP(`) Volume (Nos.)
Salasar Techno 26 Jul 259.15 296.00 271.45 271.45 128882
7NR Retail Ltd 26 Jul 27.00 27.20 27.00 27.10 24000
G G Engineering 26 Jul 21.00 20.70 20.70 20.70 12000
Gautam Exim 26 Jul 40.00 42.00 42.00 42.00 3000

Top Performing Issues More

Company Listed On Issue Price Current Price Change
Dilip Buildcon 11 Aug 219.00 519.45 116.44
RBL Bank 31 Aug 225.00 522.30 90.83
Shankara Build. 05 Apr 460.00 1005.90 84.57
PNB Housing 07 Nov 775.00 1523.00 76.48

Closed Issues More

Company Issue Type Open Date Close Date Offer Price(`)
Shanti Overseas (India) Ltd Fixed Price - SME 21 Jul 26 Jul 50.00
Captain Technocast Ltd Fixed Price - SME 20 Jul 24 Jul 40.00
Jigar Cables Ltd Fixed Price - SME 18 Jul 20 Jul 30.00
Univastu India Ltd Fixed Price - SME 14 Jul 19 Jul 40.00

Forthcoming Issues More

Company Issue Type Issue Size (In ` Crore) Open Date Close Date Offer Price(`)
Surevin BPO Services Ltd Book Building - SME 3.47 - 3.65 28 Jul 01 Aug 38.00
Security & Intelligence Services India Ltd (Book Built Portion) 770.02 - 779.58 31 Jul 02 Aug 805.00
Cochin Shipyard Ltd (Book Built Portion) 1440.92 - 1468.11 01 Aug 03 Aug 424.00

A corporate may raise capital in the primary market by way of an initial public offer, rights issue or private placement. An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. It is the largest source of funds with long or indefinite maturity for the company.

What is Book Building?

SEBI guidelines defines Book Building as "a process undertaken by which a demand for the securities proposed to be issued by a body corporate is elicited and built-up and the price for such securities is assessed for the determination of the quantum of such securities to be issued by means of a notice, circular, advertisement, document or information memoranda or offer document".

Book Building is basically a process used in Initial Public Offer (IPO) for efficient price discovery. It is a mechanism where, during the period for which the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The offer price is determined after the bid closing date.

As per SEBI guidelines, an issuer company can issue securities to the public though prospectus in the following manner:

The concept of Book Building is relatively new in India. However it is a common practice in most developed countries.

Difference between Book Building Issue and Fixed Price Issue

In Book Building securities are offered at prices above or equal to the floor prices, whereas securities are offered at a fixed price in case of a public issue. In case of Book Building, the demand can be known everyday as the book is built. But in case of the public issue the demand is known at the close of the issue.