Refunds from India's largest IPO Reliance Power Limited are reported to be around Rs 1,00,000 crore. The capital market is all set to witness yet another big fight post RPL IPO – this time for the refunds of RPL application amounts.
Refunds of RPL applications are expected to start hitting the bank accounts around the first week of February.
Many fresh IPOs, including that of highways specialist IRB Infrastructure Developers, Emaar MGF, a joint venture between Dubai-based Emaar Properties and MGF Development and healthcare company Wockhardt Hospitals, are all se to vie with each to garner the RPL refunds.
While IRB and Wockhardt IPOs would open between January 31 and February 5, 2008, Emaar MGF issue opens on February 1.
Emaar MGF plans to raise Rs 7,080 crore, touted to be the second largest IPO by an Indian real estate firm. The company will offer 10.25 crore equity shares of Rs 10 face value at Rs 610 and Rs 690 per share.
IRB Infrastructure is entering the market on the strength of success of its road and highway projects. The company has recently outbid giants like Reliance Energy and L&T to win the contract for six-laning of 239 km long Dahisar-Surat section of the National Highway development Project (NHDP).
IRB Infrastructure Developers' issue opens on January 31, Emaar MGF on February 1 and Wockhardt on February 5. IRB was looking at raising around Rs 1200 crore, Emaar MGF Rs 7,080 crore and Wockhardt Hospitals around Rs 775 crore through the IPOs.
Company Issue date Expecting to raise
IRB January 31 Rs 1200 crore
Emaar MGF February 1 Rs 7,080 crore
Wockhardt February 5 Rs 775 crore |
