SJVN subscribed 1.83 times

The Initial Public Offering (IPO) of SJVN Limited which opened for subscription on April 29, 2010 will be closed today on Monday - May 3, 2010.


The IPO has received subscription of 1.83 times with total bids for 758380250 equity shares against the offer of 415000000 equity shares.

Parekh Aluminex Target acheived..

Parekh auminex as expected as almost doubled in last 3 months.

http://beyond-basics.blogspot.com/2010/01/parekh-aluminex.html ( Around Rs130)

Currently it is trading at 255.10           +17.70   +7.46%

 

Goenka Diamond & Jewels Limited IPO

Goenka Diamond & Jewels Limited is entering the capital markets with an initial public offering (IPO) of 10,000,000 equity shares of face value of Rs.10 each with a price band of Rs. 135- 145 per share. The Company is looking to raise in excess Rs. 1.35 bn through this issue. The issue shall constitute 30.93% of the fully diluted post issue paid up capital of the Company.

The issue appears attractive with an annualized FY10 P/E of 6.9x compared to an average of 15.7x for its peers (Shrenuj, Asian Star, Renaissance, Rajesh Exports and Gitanjali).

It has enjoyed a superior ROE (FY09) of over 46% compared to a peers’ average of 10%-18%.

I think we should go ahead and subscribe to the issue.