Onesource Techmedia IPO

Onesource Techmedia Limited, a media company, has come out with an IPO of Rs 2.8 crore by offering 20 lakh shares of face value Rs 10 each. The company is reportedly engaged in the business of distribution and trading of media contents in the form of audio and video cassettes, compact disks etc. It claims to have entered into royalty agreements with various media houses for marketing the contents of devotional & folk songs, animation movie, Tamil TV serials etc. The company is also involved in event management activities.

The IPO shall open on 17 May, 2013 and shall close on 21 May, 2013. The company has fixed a price of Rs 14 per share. Investor needs to bid a minimum of 10,000 and in multiples of 10,000 shares thereafter.

The company intends to utilize the proceeds of the IPO for spending Rs 50 lakh on office infrastructure, Rs 100 lakh on development of contents, Rs 50 lakh as deposits for acquisition of contents and Rs 35 lakh on brand building and general corporate purposes.

Guiness Corporate is the lead manager and Purva Sharegistry is the registrar of the IPO. This IPO shall list on BSE SME platform.

Recommendation:

We do not recommend this IPO to investors.

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Scotts Garments IPO

Scotts Garments, a garment manufacturer, has come out with an IPO of 1,05,06,954 equity shares of face value of Rs 10 each and intends to raise Rs 139 crore through the issue.  The company is mainly engaged in producing woven, knitted & denim garments. It has 15 factories and state of the art textile mills based in Karnataka and Tamilnadu.

The IPO shall open on 25 April, 2013 and was slated to close on 29 April, 2013. The company had fixed the price band of the issue at Rs 130-132 a share. However, due to poor response, the company has revised the closing date as 3 May, 2013 and revised the price band to Rs 118-120 a share.

The company intends to use proceeds of the IPO for setting up of unit for trouser manufacturing at Doddaballapur, Karnataka and knitting and fabric processing unit at Kagal, Kolhapur; margin money for working capital of new units; and general corporate purposes.

Keynote Corporate Services is the book running lead manager and Canara Bank - Merchant Banking Division is the co-book running lead manager. Link Intime India Pvt Ltd is the registrar to the issue. Equity shares of the company are proposed to be listed on BSE and NSE.

Recommendation:

CARE has assigned grade 3 to the IPO indicating average fundamentals. We do not recommend this IPO to investors for now.

Subscription:

The issue was withdrawn after poor response from investors.

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Gold Clutched In Bear Market

Few weeks back, I had written an article mentioning factors that impact gold price. At that time, the gold price in international market was stable and the currency conversion to local currency was impacting the gold price a lot.

However, situation has changed a lot over the last few days. Gold has fallen nearly 8% today and is at 2 year low at US$ 1376 per ounce. Gold had a dream bull run for the last few years but it seems to be loosing the sheen as it has broken significant support levels. Many analysts think that gold is entering the bear market now.

Is it a good time to invest in gold now after the prices have corrected significantly over the last few months? US economy is improving and the stock markets are at a high. This signifies that investors are shifting their investments from gold to other avenues like stocks. If this is indeed a start of bear market for gold, then it may not be a good idea for next few months at least. After the prices stabilize after few months, you can take a call again to invest in gold or not.

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SBI Fixed Deposit Interest Rates

Following are the fixed deposit interest rates for resident and non-resident ordinary (NRO) accounts as of 7 April, 2013:


7 days to less than 1 year: 6.50%
1 year to less than 10 years: 8.75%

Above Rs 1 crore, following are the interest rates for resident and NRO accounts:


7 days to less than 1 year: 7.50%
1 year to less than 10 years: 8.75%

Below Rs 1 crore, following are the interest rates for resident senior citizens:

7 days to less than 1 year: 6.50%
1 year to less than 10 years: 9%

Premature payment of term deposits:
Interest to be charged on premature withdrawal of term deposits at 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower, for tenors above 90 days. Penalty for premature withdrawal of term deposits has been waived for deposits of tenors upto 90 days. However, no interest shall be paid on term deposits that have remained with the Bank for less than 7 days.

SBI savings bank interest rates:
Deposits in SBI savings account get an interest rate of 4%.

Comparison of fixed deposit interest rates with other banks can be checked here!

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Latest Bank FD Interest Rates

Interest rates have steadily climbed down over the last 6 months and is expected to come down further in the next few months as RBI has cut down the rates. For senior citizens, it is still 10%+ for some terms so it is a good time to invest in these fixed deposits for long term before the interest rates come down significantly. The below mentioned interest rates are for normal residents, senior citizens get 0.25% to 1% more depending on the bank.

Click here to check fixed deposit rates for senior citizen.

Comparison of latest resident / NRO bank fixed deposit interest rates - as of 7 April, 2013:

Bank		6 mnth	1 year	2 year	3 year	4 year	5 year
Lakshmi Vilas Bank		8.50%	9.50%	9.25%	9.00%	9.00%	9.00%
Dhanlaxmi Bank		8.50%	9.25%	9.00%	9.00%	9.00%	9.00%
City Union Bank		7.50%	9.50%	10.00%	9.25%	9.25%	9.25%
Tamilnad Mercantile Bank		9.00%	10.00%	9.75%	9.50%	9.50%	9.50%
HSBC		7.00%	7.50%	7.25%	7.00%	7.25%	7.25%
ICICI		7.00%	9.00%	8.75%	8.75%	8.75%	8.75%
HDFC		8.00%	8.75%	8.75%	8.75%	8.75%	8.75%
Axis		7.50%	8.50%	9.30%	9.30%	9.30%	9.30%
IDBI		8.65%	8.75%	9.00%	9.00%	9.00%	9.00%
Kotak Bank		8.75%	9.00%	9.00%	9.00%	8.75%	8.75%
PNB		8.75%	9.00%	8.75%	8.75%	8.75%	8.75%
BOI		8.00%	9.00%	9.00%	9.00%	9.00%	9.00%
Oriental		8.50%	9.00%	9.00%	9.00%	9.00%	9.00%
Canara		8.00%	9.05%	9.05%	9.05%	9.05%	9.05%
SBI		6.50%	8.75%	8.75%	8.75%	8.75%	8.75%
Dena		8.50%	9.00%	9.25%	9.00%	9.00%	9.00%
Citibank		7.25%	7.25%	7.25%	7.25%	7.25%	7.25%
IndusInd		7.75%	9.25%	9.00%	9.25%	8.75%	8.75%
Yes		8.25%	9.00%	9.25%	9.00%	8.75%	8.75%

Recommended Post for you: Latest company fixed deposit interest rates

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Samruddhi Realty IPO

Samruddhi Realty, a real estate company, has come out with an IPO of 21.7 lakh shares and plans to raise Rs 2.6 crore through the issue.

The IPO shall open on 28 March, 2013 and shall close on 3 April, 2013. The company has fixed price of Rs 12 per equity share. Investors can bid a minimum of 10,000 equity shares and in multiples of 10,000 shares thereafter. So, a retail investor can only purchase 10,000 shares as it amounts to Rs 1,20,000.

The company intends to utilize the proceeds of the IPO to partially repay long term loans.

Hem Securities Ltd is the lead manager of the issue and Sharex Dynamic (India) Pvt Ltd is the registrar of the issue. The IPO shall get listed on BSE SME.

Recommendation:

We would not recommend investors to invest in this IPO.

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Fixed Deposit Calculator

The following fixed deposit calculator enables you to the calculate maturity value of the fixed deposit depending on deposit amount, duration and interest rate.

Enter the investment amount, annual rate of interest, investment period (in months) and mode of compounding to calculate the maturity value of your deposit(s):

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Ashapura Intimates Fashion IPO

Ashapura Intimates Fashion has come out with an IPO of 52.5 lakh equity shares and plans to raise Rs 21 crore through the issue. The company is in the business of designing, branding, marketing and retailing intimate garments such as loungewear, bridal night wear, honeymoon sets, bathrobes and night wear since incorporation.

The IPO shall open on 28 March, 2013 and shall close on 4 April, 2013. The company has fixed the price at Rs 40 per equity share. Investors can bid for a minimum of 3000 equity shares and in multiples of 3000 thereafter. So, a retail investor can only apply for 3000 shares as that amounts to Rs 1,20,000.

The company intends to utilize the proceeds of the IPO to set up 10 EBOs; to fund branding and marketing set-up; investment in the equity shares of our group company; to fund modernization of machinery  to meet incremental working capital requirements; and for general corporate purposes.

The IPO shall get listed on BSE SME. KJMC Corporate Advisors (India) Limited is the lead manager of the issue and Link Intime India Private Limited is the registrar of the issue.

Recommendation:

Visit this post again for recommendation details!

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Opal Luxury IPO

Opal Luxury Time Products has come out with an IPO of 10 lakh equity shares and plans to raise Rs 13 crore through the issue. The company designs and manufactures wall & table clocks and market them under two brands - flagship premium brand Opal and budget brand Caliber.

The IPO shall open on 25 March, 2013 and shall close on 28 March, 2013. The company has fixed a price band of Rs 130 to Rs 135 per equity share. Investors need to bid for a minimum of 1000 shares and in multiples of 1000 thereafter. Retail investors can invest only 1000 shares as it amounts to Rs 1,30,000. 

The company intends to utilize the proceeds of the IPO for investments in moulds, tools & equipment, indigenisation of the designs for expansion of the existing manufacturing facility; enhancement of company’s brand through advertising and other brand building activities; and general corporate purposes.

IDBI Capital Market Services Limited is the lead manager of the issue. Karvy Computershare Private Limited is the registrar of the issue. The IPO shall get listed on NSE SME.

Recommendation:

Visit this post again for recommendation details!

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Lakhotia Polyesters IPO

Lakhotia Polyesters (India), a yarn manufacturer, has come out with an IPO of 14.52 lakh equity shares and plans to raise Rs 5.082 crore through the issue. The company is engaged in the business of manufacturing of lacquer coated Polyester films, transfer foils and M type metallic yarns, which are appropriate for textile, printing, decoration and packing industry and manufacturing of grey fabrics used in sarees and as interline cloth.

The IPO shall open on 19 March, 2013 and shall close on 21 March, 2013. The company has fixed a price of Rs 35 per share. Investors can bid a minimum of 4000 shares and in multiples of 4000 thereafter. So, a retail investor can invest a maximum of 4000 shares as that amounts to Rs 1,35,000.

The company intends to utilize the proceeds of the IPO for augmenting of long term working capital requirement and general corporate purposes.

Equity shares are proposed to be listed on the SME platform of Bombay Stock Exchange. Intensive Fiscal Services Private Limited is the lead manager of the issue and Sharex Dynamic (India) Pvt Ltd is the registrar of the issue.

Recommendation:

Visit this post again for recommendation details!

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GCM Securities IPO

GCM Securities, a broking and trading company, has come out with an IPO of 60.9 lakh equity shares and plans to raise Rs 12.18 crore through the issue. The company is currently engaged in the business of equity broking, investing and trading activities.

The IPO shall open on 18 March, 2013 and shall close on 20 March, 2013. The company has fixed a price of Rs 20 per share. Investors need to bid minimum of 6000 shares and in multiples of 6000 thereafter. So, a retail investor can bid for a maximum of 6000 shares as it amounts to Rs 1,20,000.

The company intends to use proceeds of the IPO for augmenting its long term working capital. 

Equity shares are proposed to be listed on Bombay Stock Exchange SME platform. Inventure Merchant Banker Services Private Limited is the lead manager to the issue. Purva Sharegistry (India) Private Limited is the registrar to the issue.

Recommendation:

We do not recommend this IPO for now.

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Repco Home Finance IPO

Repco Home Finance, a professionally managed and NHB registered housing finance company has come out with an IPO of 1,57,20,262 equity shares of face value of Rs 10 each. The company is promoted by Repco Bank Limited, a Government of India enterprise. The issue includes a reservation of 1,80,000 equity shares of Rs 10 each for subscription by eligible employees at the issue price. The issue shall constitute 25.29 percent and the net issue (issue less the employee reservation portion) shall constitute 25 percent of the post issue paid-up capital of the company, respectively.

The IPO shall open on 13 March, 2013 and shall close on 15 March, 2013. The company has fixed a price band at Rs 165-172 per equity share. Bids can be made for a minimum of 75 equity shares and in multiples of 75 equity shares thereafter. The company has decided to offer a discount of Rs 16 on the issue price to eligible employees. The maximum shares that a retail investor can apply is 1200 on lower band and 1125 on higher band.

The company intends to utilize the proceeds of the IPO for augmentation of capital base to meet future capital requirements.

The equity shares are proposed to be listed on the NSE and the BSE. The book running lead managers to the issue are SBI Capital Markets Limited, IDFC Capital Limited and JM Financial Institutional Securities Private Limited. Karvy Computershare Pvt Ltd is the registrar to the issue.

Recommendation:

ICRA has assigned grade 3 to the IPO indicating average fundamentals to the issue. We would recommend this IPO to investors from medium term view, though if you get listing gains, encash them.

Subscription:

Repco Home Finance IPO got 1.65 times subscribed.

At the close of the IPO,
QII segment got subscribed by 3.39 times
NII segment got subscribed by 0.35 times
Retail segment got subscribed by 0.51 times
Employees segment got subscribed by 0.57 times

Allotment:

Click here to check Repco Home Finance IPO Allotment status!

Listing:

Repco Home Finance IPO got listed on 1 April, 2013.  The IPO touched an intra-day high of Rs 176 and intra-day low of Rs 158.05 before closing the day at Rs 168.85 against its issue price of Rs 172 per share.

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Best Bank NRE Interest Rates

Due to rupee depreciation, RBI deregulated NRE interest rates at the end of last year 2011 which allowed banks to set their own interest rates like they do for domestic or NRO savings account interest rates.

This has led to a huge jump in the NRE interest rates which will definitely attract more investment from NRIs who will want to take benefit of high interest rates in India compared to 2-4% in other parts of the world. To make it even more attractive, the interest is tax free as well.

Following are some of the top NRE interest rates from various banks as of 11 March, 2013:

Bank	Tenure	Interest Rate
Karur Vysya Bank	1 year to 2 years	9.50%
City Union Bank	1 year	9.50%
Tamil Nadu Mercantile Bank	1 year to less than 3 years	9.50%
Karnataka Bank	1 year to less than 2 years	9.25%
Dena Bank	1 year to less than 2 years	9.00%
IDBI Bank	500 days to 5 years	9.00%
State Bank of Travancore	500 days	9.25%
South Indian Bank	15 months	9.60%
Corporation Bank	12 months	9.00%
J&K Bank	1 year to less than 10 years	8.50%
Federal Bank	1 year only	9.25%
Indian Bank	1 year to less than 10 years	9.00%
Andhra Bank	1 year to less than 3 years	9.00%
SBI	1 year to less than 10 years	8.75%
ICICI Bank	390 days to 2 years	9.00%
HDFC Bank	1 year to 5 years	8.75%
Central Bank of India	555 days	9.25%
Vijaya Bank	1 year to less than 5 years	9.00%
Bank of Baroda	1111 days	9.15%

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NHB Tax Free Bonds 2012-2013

National Housing Bank, a Government of India undertaking, has come out with Rs 3750 crore public issue of tax free secured redeemable non-convertible bonds. The company operates as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions. It is wholly owned by the Reserve Bank of India. For those individuals who are in the highest tax bracket, this is a good source of tax free secured interest income. 

Opening and Closing dates:

The issue shall open on 11 March, 2013 and shall close on 15 March, 2013.

Face Value:

The face value is Rs 10000 per bond and the minimum application for subscription in retail segment is Rs 10,000 with maximum at Rs 10 Lakhs in increment of Rs 10000.

Available options:

	Interest Rate %
Period	Retail	HNI / Corporate
10 yr	7.32%	6.82%

Those investing up-to Rs 10 lakhs are retail investors and above that are High Net-worth Investors (HNIs) for the purpose of this issue. These bonds carry a step-down clause - the coupon gets reduced by 50 basis points for retail investors once the bonds get listed or the ownership of bonds changes hands. Interest would be paid annually for all categories.

CRISIL has rated AAA and CARE AAA to the bond issue indicating high grade safe investment. These bonds would be listed and tradable on NSE and BSE. No tax would be deducted at source on income and the allotments would be on first come first serve basis.

The issue can be subscribed in DMAT as well as physical form.

National Highways Authority of India, Housing and Urban Development Corp, National Housing Bank, Indian Railways Finance Corp, IIFCL, Ennore Port, Jawaharlal Nehru Port and Dredging Corporation are among companies permitted by the government to sell tax-free bonds under Section 10 (15).

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