Allahabad Bank and Shringar Cinema

The first two IPOs of the new financial year are from two sunrise sectors – entertainment and banking. Shringar Cinema and Allahabad Ba...

The first two IPOs of the new financial year are from two sunrise sectors – entertainment and banking. Shringar Cinema and Allahabad Bank’s issues come at a time when Sebi has increased small investors’ quota from 25 per cent to 35 per cent of the total issue. Sebi has also reduced the number of days the offer will remain open. So you have more chances to buy stocks in FY 2006, but in less time. Here is what’s on offer:

Shringar Cinema
Opening on: April 5
Closing on: April 11
Price Band: Rs 47-Rs 53 per equity share of face value of Rs 10
Issue will use the money
for:
exhibition growth
Distribution growth
Minimum application (book-built portion): 100 shares (Rs 4,700 – Rs 5,300)
Minimum application (fixed price portion): 100 shares
Promoters: Shyam Shroff, Balkrishna Shroff, Shravan Shroff, Aditya Shroff
Lead Manager: JM Morgan Stanley

HIGHLIGHT: The entertainment firm is coming out with public issue of equity shares comprising of 81.5 lakh equity shares of face value of Rs 10 each with a premium. The issue would constitute 25.82 per cent of the post issue paid-up capital of the Mumbai company.

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Allahabad Bank
Opening on: April 6
Closing on: April 12
Price Band: Not announced
Issue will use the money for:
To augment the long-term resources
Augment capital base
Meet future capital requirements
Minimum Application (Book-built portion): 10 shares
Minimum Application (Fixed price portion): 10 shares
Lead managers
Bajaj Capital
DSP Merrill Lynch
Enam Financial Consultants
ICICI Securities
JM Morgan Stanley
Kotak Mahindra Capital
SBI Capital Markets

HIGHLIGHT: The Kolkata-based bank is coming out with a public issue of 10 crore shares of Rs 10 each for cash. The issue would constitute 22.38 per cent of the fully diluted post issue paid-up capital of the bank. Last Wednesday, Allahabad Bank closed at Rs 92.25 a share on the BSE.