Top 10 IPOs of India

Top 10 IPOs of India-by Kanishq Baweja

The following IPOs have been picked up using multiple criteria such as year of issue, amount raised, total subscription and present trading value. All of thise IPOs caused a furore among investors at the time of their launch.

1. Reliance Power Ltd

IPO size: Rs 11700 croreYear of issue: 2008

Anil Dhirubhai Ambani Group promoted Reliance Power Ltd’s Rs 11,700 crore IPO has set a lot of a record: it started off with a bang on January 15 with the share sale India’s biggest ever getting fully subscribed within a minute of opening.The Reliance Power IPO of 26 crore equity shares is worth $3 billion. Most of the bids came at Rs 450, the upper end of the price band, making it the country’s largest IPO with predictable proceeds of Rs 11,700 crore.The QIB portion was subscribed 17.5 times and high net worth investor (HNIs) segment was subscribed 6.7 times. The company was offering the equity shares at a price band of Rs 405-450 per share. The bidding for allotment of shares in the IPO was to close on January

Name of the issue RELIANCE POWER LIMITED

LTP 42.55

Issue Price ( ) 450

Date of Listing 11-Feb-08

Book Running Lead Manager

BRLM Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, ABN AMRO

Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities

Private Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and J P

Morgan India Private Limited CO BRLM Macquarie India Advisory Services Private Limited and SBI

Capital Markets Limited

Date of Issue 15-18/ January /2008

No. of members 208No. of Bidding

centers128

Issue Size (lakh shares)

2280

Price Range Rs.405 to Rs.450

Introduced in F&O alongwith IPO $

Eligible, subject to SEBI approval

Rating agency CRISIL

Grade assigned IPO Grade 4/5

2. ONGC

IPO size: Rs 9500 croreYear of issue: 2004

The IPO was oversubscribed in half an hour of its opening, with estimated proceeds of Rs 9,500 crore. Till the Reliance Power IPO was launched, the ONGC offering was the biggest IPO by any company ever in the Indian capital markets with 142.59 million shares being sold through the book building route in a price band of Rs 680-750.

Name of the issue Oil & Natural Gas Corporation Limited

LTP 225.2

Issue Price ( ) 750 and 712.50 for retail investors

Date of Listing Offer for sale


Kotak Mahindra Capital Co. Ltd., DSP Merrill Lynch Ltd., J M Morgan Stanley Pvt. Ltd.

Date of Issue 05/03/2004 to 13/03/2004


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1425.933

Price Range Rs.680 to Rs. 750


Not Eligible

Rating agency -

Grade assigned -

3. DLF

IPO size: Rs 9,188 croreYear of issue: 2007

DLF Universal’s IPO hit the markets on June 11, 2007 and closed on June 14. Although scheduled for June 2006, the IPO ran into rough weather with minority investors create a furor with “chatting” allegations against the company. DLF managed to settle this issue and filed a new brochure with the Sebi. The Sebi approval for the same was received soon after. DLF Universal priced its IPO amid Rs 500 and Rs 550.It was previous predictable to price the issue around Rs 600. The issue went up for about Rs 9,188 crore. The IPO was oversubscribed a modest 3.45 times.

Name of the issue DLF Limited

LTP 130

Issue Price ( ) 525

Date of Listing 5-Jul-07


Kotak Mahindra Capital Company Ltd.; DSP Merrill Lynch Ltd.;Lehman Brothers Sec. Pvt. Ltd.; Citigroup

Global Markets India Pvt. Ltd.; Deutsche Equities India Pvt. Ltd.; ICICI Securities PD Ltd.; UBS Securities India

Pvt. Ltd.and SBI Capital Markets Ltd.

Date of Issue 11/06/2007 to 14/06/2007


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1750



Introduced

Rating agency -

Grade assigned -

4. Cairn India


Cairn, the oil and gas exploration company entered the Indian capital market with a public issue of 328,799,675 equity shares of Rs 10 each at a premium decided through a 100 pct book building process. The share was issued in a price band of Rs 160Rs190. The construction and development work for the oil major’s Rajasthan oil field was partly funded by the IPO. The company raised about Rs 5,788 crore through the IPO.

Name of the issue Cairn India Limited

LTP 148.4

Issue Price ( ) 160

Date of Listing 9-Jan-07


ABN AMRO Securities (India) Private Limited, DSP Merrill Lynch Limited, JM Morgan Stanley Private Limited & Citigroup Global Markets India Private

LimitedDate of Issue 11/12/2006 to 15/12/2006


centers59


3287.99675

Price Range Rs. 160 to Rs. 190


Introduced

Rating agency -

Grade assigned -

5. TCS


India’s largest IT company, Tata Consultancy Services Ltd, offered 5.54 crore equity shares of Re 1 each, including a fresh issue of 2.27 crore shares, in its IPO through a book building route. The Rs 5,000crore IPO opening coincided with the birth centenary of JRD Tata, who was at the helm of the Tata group for over four decades before Ratan Tata took charge.The issue also comprised an offer for sale of 3.26 crore shares by Tata Sons Ltd and certain other shareholders of TCS, and a further green shoe option by Tata Sons for 831,000 shares each. The company raised about Rs 5,420 crore (Rs 54.20 billion) through the IPO.

Name of the issue Tata Consultancy Services Limited

LTP 2600

Issue Price ( ) 850

Date of Listing 25-Aug-04


J M Morgan Stanley Pvt. Ltd., DSP Merrill Lynch Ltd.,J P Morgan India Pvt. Ltd.

Date of Issue 29/07/2004 to 05/08/2004


centers109


554.526



Introduced

Rating agency -

Grade assigned -

6. NTPC


The National Thermal Power Corporation offered a public issue of equity shares of Rs 10 each by offering 865,830,000 equity shares in a price band of Rs 52 to Rs 62. The issue was made through 100 pct book building process. The offer was made for 10.5 pct of NTPC’s enlarged capital. The issue rose about Rs 5,368 crore at the top end of the price band. Post offer, the government’s stake in NTPC reduced to89.5%, the issue opened on October 7, 2004 and closed on October 14.

Name of the issue National Thermal Power Corporation Limited

LTP 121.15

Issue Price ( ) 62

Date of Listing 5-Nov-04


ICICI Securities Ltd., Enam Financial Consultants Pvt. Ltd., Kotak Mahindra Capital Company Ltd.

Date of Issue 07/10/2004 to 14/10/2004


centers54


8658.3



Introduced

Rating agency -

Grade assigned -

7. Reliance Petroleum


Reliance Petroleum opened for bidding on April 13, 2006. The price band was fixed at Rs 57 to Rs 62 and the bidding closed on April 20, 2006. This was the second time in the market for the petrol chemical major, after 1993 when it first came out with an IPO.The company offered 45 crore equity shares for subscription. Retail investors could bid for up to 1,600 shares at the upper end of the price band and they needed to pay only Rs 16 per share at the time of bidding. The balance amount was to be payable on allotment.The company raised Rs 2,700 crore through the IPO.

Name of the issue Reliance Petroleum Limited

LTP -

Issue Price ( ) 60

Date of Listing 11-May-06


JM Morgan Stanley Pvt. Ltd., DSP Merrill Lynch Ltd., ENAM Financial Consultants Private Ltd., Citigroup

Global Capital Markets India Pvt. Ltd., ICICI Securities Ltd., Deutsche Equities India Pvt. Ltd., HSBC Securities & Capital Markets (India) Pvt. Ltd., UBS Securities India

Pvt. Ltd., SBI Capital Markets Ltd.

Date of Issue 13/04/2006 to 20/04/2006


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4500



Introduced

Rating agency -

Grade assigned -

8. Idea Cellular


The company fixed the price band between Rs 65 and Rs 75 per Rs 10share.The premium was decided through a 100 pct book building process. The issue opened for subscription on February 12, 2007 and closed on February 15, 2007. The company raised Rs 2,443 crore (Rs 24.43 billion) through the IPO.

Name of the issue Idea Cellular Limited

LTP 142.7

Issue Price ( ) 75

Date of Listing 9-Mar-07


JM Morgan Stanley Pvt. Ltd., DSP Merill Lynch Ltd. Senior Co-BRLM : Citigroup Global Markets India

Private Limited, UBS Securities India Private Limited

Date of Issue 12/02/2007 to 15/02/2007


centers46


(.) Equity Shares aggregating Rs. 2125.00 Crs. (Excluding Green Shoe Option of Rs. 318.75 Crs.)



Introduced

Rating agency -

Grade assigned -

9. Reliance Petroleum


The company raised Rs 2,172 crore (Rs 21.72 billion) through the IPO. The original RPL, which was subsequently merged with Reliance Industries in 2002, floated the IPO in September 1993 with a stated plan of commissioning its 9 million tonne capacity refinery by the second quarter of 1996. At the time, it was the largest IPO to hit the Indian capital markets and had taken investors by a storm.

10. Jet Airways


The IPO by Jet Airways met with overwhelming response on the very first day — February 18, 2005. The issue was fully subscribed within five minutes of opening and was oversubscribed 4.4 times. The issue received a total 7.5 crore bids for the 1.72 crore shares on offer at a price band of Rs 9501,125.The QIB category was oversubscribed almost eight times. Of the total shares, 60 pct had been reserved for this category of buyers, while 90 pct of the bids came in at Rs 1,125 per share, the top end of the price band. The company raised Rs 1,899 crore through the IPO.

Name of the issue Jet Airways (India) Limited

LTP 320.7

Issue Price ( ) 1100

Date of Listing 14-Mar-05


Deutsche Equities India Pvt. Ltd., HSBC Securities and Capital Markets (India) Private Ltd., UBS Securities

India Pvt.Ltd., Citigroup Global Markets India Pvt. Ltd., DSP Merrill Lynch Ltd., Kotak Mahindra Capital

Company Ltd.

Date of Issue 18/02/2005 to 24/02/2005


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172.66801



Introduced

Rating agency -

Grade assigned -

List of Primary Dealers in Government Securities Market

(As on July 13, 2015)

STANDALONE PRIMARY DEALERS

1. Morgan Stanley India Primary Dealer Pvt. Ltd.

2. ICICI Securities Primary Dealership Limited

3. Nomura Fixed Income Securities Pvt. Ltd.

4. PNB Gilts Ltd.

5. SBI DFHI Ltd

6. STCI Primary Dealer Limited

7. Goldman Sachs (India) Capital Markets Pvt. Ltd.

BANK PRIMARY DEALERS

1. Bank of America

2. Bank Of Baroda

3. Canara Bank

4. Citibank N.A

5. Corporation Bank

6. HDFC Bank Ltd.

7. Hongkong and Shanghai Banking Corpn. Ltd.(HSBC)

8. J P Morgan Chase Bank N.A, Mumbai Branch

9. Kotak Mahindra Bank Ltd.

10. Standard Chartered Bank

11. Axis Bank Ltd.

12. IDBI Bank Limited

13. Deutsche Bank AG

14. Yes Bank Limited

Documents

Top 10 IPOs of India