Blockbuster IPOs: Orbit Corp, Everonn, MIC Electronics

2008-01-01 17:00:08 Source : moneycontrol.com

2007 was a MALAMAAL year for investors and record-breaking year for markets. Sensex with a return of 47% outperformed most of the major Asian and other global markets. IPOs were not behind in this race and gave some bumper returns to the investors. Companies raised more than Rs 45,000 crore from capital markets in 2007, which was 80% more than the money raised in 2006.

FIIs were one of the key drivers for the growth shown by the secondary market as well as primary market. FIIs pumped in huge money and invested nearly USD 17 billion. FIIs flow in Indian markets was robust and is expected to remain strong in forthcoming years.

103 companies got listed in 2007, out of which 78 companies gave good returns while the rest remained below issue price. Wealth creators among IPOs had offered more than 250%-750% returns since their listing, which includes Orbit Corp, Everonn Systems, MIC Electronics, GBN, Allied Digital, Vishal Retail etc. Nearly 28 companies gave profits in a band of 100%-250%.

Orbit Corporation, real estate developer, was the star performer of the year, offered over 750% returns in 9 months. The company had raised over Rs 100 crore from its IPO of 91 lakh shares at a price of Rs 110 per share in April.

A fully integrated knowledge management, education and learning solutions company, Everonn Systems was the second topper in the gainers list. It gave hefty gains over 640% in just five months since listing. It had come out with a public issue of 35.71 lakh shares at a price band of Rs 125-140 per share and raised nearly Rs 50 crore.

MIC Electronics, a Hyderabad base player in Light Emitting Diode (LED) display systems, offered over 500% returns since listing in May 2007. The company garnered Rs 76.5 crore from capital markets by issuing 51 lakh shares at Rs 150 per share.

However, 23 companies were still below issue price in the year 2007, viz Broadcast Initiatives, House of Pearl, Vijayeswari, Orient Trimex etc.

Top IPO money collector of the year was DLF, India's largest real estate company and fourth biggest company by market cap, which garnered more than Rs 9,100 crore and in FPOs, ICICI Bank, India's second leading bank, mopped up over Rs 10,000 crore (including green shoe option).

Power Grid Corp, India's major power distribution company, raised nearly Rs 3000 crore by issuing equity of 5,739 lakh shares at Rs 52 per share.

Equity

Issue Price

Current Price

%Gain/Loss

Orbit Corporati

110

940

754.55

Everonn Systems

140

1043.1

645.07

MIC Electronics

150

918

512

Pyramid Saimira

100

534.1

434.1

Allied Computer

12

61.85

415.42

GBN

250

1042

316.8

Gremach Infra

86

350.2

307.21

Allied Digital

190

743

291.05

Redington

113

422.35

273.76

Vishal Retail

270

946

250.37

Refex Refrigera

65

204.5

214.62

Power Finance

85

262

208.24

Time Techno

315

960

204.76

ICRA

330

999.5

202.88

Religare Enterp

185

548

196.22

Ashtavinayak

160

461

188.13

Mundra Port

440

1267

187.95

Nitin Fire Prot

190

545

186.84

Tanla Solutions

265

739.9

179.21

Power Grid Corp

52

142.85

174.71

Ankit Metal

36

95.15

164.31

Maytas Infra

370

893.9

141.59

Cambridge Tech

38

91

139.47

Indowind Energy

65

148

127.69

Saamya Biotech

10

22.65

126.5

Koutons Retail

415

930

124.1

Simplex Project

185

412.75

123.11

Varun Industrie

60

133.75

122.92

Bhagwati Banque

40

88

120

Indus Fila

170

373

119.41

Akruti City

540

1164

115.56

Motilal Oswal F

825

1762.1

113.59

Glory Polyfilms

48

102

112.5

Indian Bank

91

193

112.09

Suryachakra Pow

20

42.2

111

HDIL

500

1045

109

DLF

525

1066

103.05

Consolidated Co

510

1025

100.98

Advanta

640

1225

91.41

Kaveri Seed Co

170

325.05

91.21

Meghmani Organi

19

36.3

91.05

Edelweiss Cap

825

1533.5

85.88

Omaxe

310

570.1

83.9

Idea Cellular

75

131.3

75.07

Evinix

120

208

73.33

Take Solutions

730

1240

69.86

Astral Poly Tec

115

195

69.57

Pochiraju Ind

30

48.6

62

Supreme Infra

108

174.5

61.57

Kolte-Patil

145

227

56.55

Transformers

465

726

56.13

Cairn India

160

247.2

54.5

Kaushalya Infra

60

92.55

54.25

Binani Cement

75

115

53.33

Omnitech Infoso

105

153

45.71

Euro Ceramics

165

237

43.64

eClerx Services

315

448.3

42.31

Spice Comm

46

62.1

35

Central Bank

102

134.1

31.47

Page Industries

360

465

29.17

SEL Manufacturi

90

115

27.78

Barak Vally Cem

42

52.5

25

Jyothy Labs

690

858

24.35

Roman Tarmat

175

212

21.14

Zylog Systems

350

423

20.86

Lumax Auto

75

88.7

18.27

Magnum Ventures

30

35.3

17.67

Mindtree Cons

425

494.1

16.26

Firstsource Sol

64

73.3

14.53

Dhanus Tech

295

330

11.86

Circuit Systems

35

39

11.43

Cinemax India

155

170.15

9.77

Mudra Lifestyle

90

98.75

9.72

Puravankara Pro

400

434.8

8.7

Asian Granito I

97

104.3

7.53

Autoline Ind

225

230.5

2.44

Celestial Labs

60

61.45

2.42

Renaissance Jew

150

151

0.67

Rathi Bars

35

35.05

0.14

Fortis Health

108

106

-1.85

Brigade Enterprises

390

378.55

-2.94

C and C Const

291

271.5

-6.7

AMD Metplast

75

62.5

-16.67

Raj Television

257

214

-16.73

IVR Prime

550

453

-17.64

Nelcast

219

176

-19.63

Empee Distiller

400

318.15

-20.46

KPR Mill

225

175.95

-21.8

Lawreshwar Poly

16

12.51

-21.81

Technocraft Ind

105

81.2

-22.67

Transwarranty

52

40.05

-22.98

Insecticides In

115

87.05

-24.3

SMS Pharma

380

281.25

-25.99

Hilton Metal

70

51.75

-26.07

Asahi Songwon

90

66

-26.67

Alpa Laboratori

68

49.65

-26.99

Decolight Ceram

54

38.2

-29.26

Abhishek Mills

100

68.65

-31.35

Jagjanani Text

25

15.78

-36.88

Oriental Trimex

48

29.8

-37.92

Vijayeswari Tex

100

55.5

-44.5

House of Pearl

550

281

-48.91

Broadcast

120

59

-50.83