CHAPTER 1 IPO's Performance Including Monthly

PERFORMANCE OF IPO IN INDIAN MARKET
CHAPTER 1:
INTRODUCTION OF IPO
WHAT IS AN IPO? WHY MAY A COMPANY NEED AN IPO? WHAT ARE THE TWO SIDE OF IPO COIN? WHO CAN" TOSS THE IPO COIN" PREPARING FOR IPO REGULATORY. PROCESS OF IPO. IDEAL PROCESS OF IPO. THE PROCEDURE FOR THE ISSUE OF AN IPO. DOCUMENT OF IPO. IPO MARKET IN INDIA
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EXECUTIVE SUMMARY:
The transition from being a private company to a public one is one of the most important events in the life of a firm. It is also one of particular interest to institutional investors, and the transition is facilitated through the INITIAL PUBLIC OFFERING (IPO) process. The IPO provides a fresh source of capital Shareholders such as venture capitalists a liquid market for their shares. From an institutional investor's perspective, the IPO provides an opportunity to share in the rewards of the growth of the firm.
When a firm issues equity to the public for the first time, it makes an initial public offering consisting of two kinds of issues the primary issue and the follow-on issue. In a primary, the firm raises capital for itself by selling stock to the public, whereas in the follow on issue, existing large shareholders sell to the public a substantial number of shares they currently own.
It is a well-documented fact that IPOs tend to be generally underpriced, though some issues tend to be overpriced. From the viewpoint of financial research, IPO underpricing in the sense of abnormal short-term returns on IPOs has been found in nearly every country in the world. This suggests that IPO underpricing may be the outcome of basic problems of information and uncertainty in the IPO process, and is unlikely to be a figment of institutional peculiarities of any one market.
There have also been various studies made to suggest the reasons for such underpricing. From the investors point of view, this underpricing appear to provide the sure and quick profit that most dream about. Though first day return could vary, few of the issues tend to provide a very high return over the first day. One of the examples is VA Linux which had a first day return of 700%. It is also seen that for some of the issues, the first day return could also be negative. It then becomes inevitable for most investors to measure the performance of IPOs by the short term (usually within one week of issue), as the general scheme is to buy the shares at a low initial offering price and sell it the next day when the price increases.
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Pricing of the IPOs are done by the issuers with guidance from underwriters from investment banks. There are various ways to price the stocks but what is commonly used now is a process called book building. It is basically a capital issuance process used in an Initial Public Offer which aids price and demand discovery. It is also a process used for marketing a public offer of equity shares of a company. During the period for which the book for the IPO is open, bids are collected from investors at various prices, which are above or equal to the floor price. The offer/issue price is then determined by the issuing company after the bid closing date based on the various bids that have been collected. For a more detailed discussion of book building, one can visit any of the many stock exchanges. An example of the book building process can be seen from the National Stock Exchange. This Initial Public Offering can also be made through the fixed price method or a combination of both book building and the fixed price method.
There have been various studies conducted on the price changes of the shares after prolonged periods (six months to five years). These studies show that while the short-run performance of IPOs is often quite impressive, the long-run performance over the subsequent three to five years is not as impressive. Excluding the initial-day return, IPOs tend to underperform various benchmarks. However, these studies focus mainly on developed economies and tend to neglect the developing counterparts. A study by Madhusoodanan and Thiripalraju studies the performance of Indian IPOs prior to 1996.
It is in the hope that the long term performance of IPOs in developing economies can also be a useful indicator to the potential investor that this study is to be undertaken. The purpose of this paper is to examine the long-run performance of IPOs in Indian stock market which was issued during 20002001. The IPO literature has shown that the IPO issues and performance is based on a cycle. In some years there are a large number of IPOs while in some years, there are only a few IPOs. When it is a vintage year with a large number of IPOs, most IPOs tend to do well on the first day but tend to do poorly over a long term whereas in years when there are only a few IPOs, the results tend to be mixed. The long run performance is likely to be affected while we include IPOs from different time periods because the market movements in different market conditions are likely to be different. In order to see that results are not confounded by the time period when IPO was issued, it was decided to include IPOs
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that were issued within a one-year period. This has resulted in a sample of 116 companies which had IPOs in this period from various industries. This study is important mainly because the Indian stock market has been performing very well from the year 2001 and our research wants to show whether this performance is due to the established firms or the performance also gets to the newly issued shares through IPOs.
The study uses various methods to ascertain the significance of the over or underperformance of IPOs. Among the many reasons for the performance which we see, one of them could be the sensitivity of the results to the choice of benchmarks. Dimson and Marsh, Ritter, Gregory et al, Fama and French and Fama have successively demonstrated the sensitivity of the long-run performance of the IPOs the benchmark used in the study. For this reason, the effect of various benchmarks on the return measurements will be studied so as to elucidate the possibility that the magnitude of the performance is benchmark dependent.
INTRODUCTION OF IPO:
What is an IPO?
An IPO or an Initial Public Offer is a company's first sale of equity shares to general public. Shares offered in an IPO are often, but not always, those of newly set up companies seeking outside equity capital and a public market for their shares.
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An initial public offer is an equity product that allows you to buy cheap tomorrows possible winners -George Mathew
An Initial Public Offering (IPO) can be a good investment avenue for equity investors. While the IPO market is dry these days, a fresh crop is expected soon. Let us take five minutes to understand IPOs and to decide whether to invest in them or not.
Suppose your friend owns a business, his company is profitable and he wants to grow the company faster. For this he needs money. Instead of debt, he wants to offer a part of his company for sale in the stock market. He will make, what is called, a public offer of shares (after a number of procedures and regulatory processes). If the issue is successful, his company will list or begin to trade in a stock exchange. So, an IPO is a fresh offer, where a company that is not yet trading, wants to sell shares directly to the investors. The shares can be offered at par, that is, at face value of Rs 2 Rs 5 or Rs 10, or at a premium. After this, your friend is no longer the only owner but will have diluted his share. The owners of the company may now be thousands of people he may not even know. Yet, if he holds the majority shares, he will still take all the decisions about the company. All the shareholders are now entitled to vote, may get dividends and bonuses. They also have the option to exit from the shares by selling their stock in the secondary market, making a capital appreciation or loss as the price changes from the issue price.
Why may a Company need an IPO?
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PERFORMANCE OF IPO IN INDIAN MARKET To meet short-term requirements, the company may approach banks, lenders or may even accept fixed deposits from the public/shareholders. To meet its long-term requirements, funds can be raised either through loan from lenders, Banks, Institutions etc., (which carry financial burden) or through the issue of capital. Capital can be raised through private placement of shares, public issue, rights issue, etc. Public Issue means raising funds from the public. Promoters of the company may have plans for the company that may require infusion of money. The main purpose of the public issue, amongst others, is to raise money through the public and to get its shares listed at any of the recognized stock exchanges in India. The f for a company to go public:
Raising funds to finance capital expenditure programs like expansion, diversification,
modernization, etc.;
Financing of increased working capital requirements; Financing acquisitions like a manufacturing unit, brand acquisitions, tender offers for shares of
another firm, etc.;

Debt financing ; Exit route for exiting investors.
An IPO has two sides to it, consisting of advantages and disadvantages. Moreover, it needs to be balanced, and this is done by the Regulatory Bodies such as The Securities and Exchange Board of India (SEBI), so that it does not fall on one side. Due to this property of an IPO, it has been referred to as a Coin in this report.
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What are the two sides of IPO coin?

Advantages
Money non-refundable except in the case of winding up or buy back of shares No financial burden i.e. no fixed rate of interest payable. However, in order to service the equity, dividend may be paid. Enhances shareholder's value if the company performs well Greater Transferability Trading & Listing of securities at stock exchanges Better Liquidity of securities Helps building reputation of promoters, company & its products / services, provided the company performs well
Disadvantages
Time consuming process Expensive Several Legal formalities. Involvement of many intermediaries Transparency Requirements and public disclosure of information may lead to lack of privacy Continuous Compliance of provisions of listing agreement and other legal requirements Constant scrutiny of performance by investors May lead to takeover of the company Securities of the company may be made subjective to speculative attacks.
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How is the coin made to balance (Controls)?

Applicable Laws A Company is required to comply with the following laws in connection with a public issue:
Provisions of The Companies Act, 1956 Securities Contracts (Regulations) Act, 1956 SEBI Rules & Regulations Compliance to the Listing Agreement with the concerned stock exchanges after the listing of securities.
RBI regulations in case of foreign.
Who can Toss the IPO Coin?
Eligibility Criteria for Public Issuance of Securities
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Net Tangible Assets of at least Rs. 3 crores in each of the preceding 3 full years (of 12 months each), of which not more than 50% is held in monetary assets. If more than 50% is held in monetary assets, the company should have firm commitments to deploy such excess in its business/project Track record of distributable profits in for 3 out of preceding 5 years Net Worth of at least Rs. 1 crores in each of the preceding 3 full years (of 12 months each) Issue size + previous issue in current FY is lesser than 5 times preissue net worth
Yes
No
Fixed Price or Book building (no minimum allocation to QIBs)
Only Book building, with compulsory allocation of at least 50% to QIBs Or

At least 15% participation in project by FIs/banks, of which at least 10% should come from the appraiser(s) and additionally allocation of at least 10% to QIBs. And
Minimum post-issue face value capital of the Company shall be Rs. 10 crores Or Compulsory market making for 2 years
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Preparing for IPO Regulatory:

Company should adopt best corporate governance practices to assist Investors appreciate greater transparency and disclosure. These have to be complied with before listing.
Board of Directors
Committees
Change
in
composition public interest Increase number of nonexecutive directors to constitute at least 50% (If the chairman of the board is an executive director then the board should have at least 50% independent directors or else at least 1/3rd)
Board to reflect shareholders
Audit
committee of at least 3, all being non-executive directors, with majority being independent & at least 1 director having financial & accounting knowledge Remuneration committee to determine the Companys policy on specific remuneration packages for executive directors Investor Grievance committee
Company would have to ramp up Secretarial and Compliance teams
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Process of IPO:
For private companies in the United States, the first issue of securities to the speculative and rarely do they result in large gains for investors. However, since capital is often needed to grow a private company and values of companies are public is referred to as an Initial Public Offering (IPO). IPO's are extremely best determined in the marketplace, IPO's continue to be used as a way for growing private companies. IPO's are often one of the hottest topics in financial management. Behind the glamour and the glitz of Initial Public Offerings (IPO's) there is a tremendous amount of hard work and personal sacrifice. IPO's require a core group of highly skilled professionals who must literally work around-the-clock for one year. Therefore, one of the first steps to a successful IPO is the formation of a seasoned, experienced team of professionals who will make the IPO happen. You must recruit the best possible people you can find - there is no time to supervise inexperienced MBA's fresh out-of-school. Once an IPO team (Investment Banker, Legal Counsel, SEC Expert, Outside Auditor, etc.) has been formed, you can establish a plan for the IPO Process. A basic timeline for an IPO will usually consist of: Month 12: Recruit new management to run the public company - CEO, CFO, etc. Start compiling the financial information. Month 11: Start due diligence work - worthless assets are written off, inconsistencies with GAAP are resolved, etc.
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Month 10:
Start drafting the prospectus. Coordinate the collection of data to
minimize duplicative efforts.

Month 9: Establish a board of directors for the newly formed public company. Month 8: Draft three-year historical financial statements. Month 7: Circulate draft prospectus for comments.
Month 6:
Establish transition contracts for services and products that will now
be provided to the newly formed public company. Some new contracts will be needed, such as independent audits of financial statements.
Month 5:
Finalize historical financial statements. Start preparing interim (stub)
financial statements for current period.

Month 4: Finalize
pro forma and interim financial statements. Make revisions to
draft prospectus.
Month 3:
Convene new board of directors. Audit of interim financials should be
complete.
Month 2: Outside
auditors opinion is issued. Membership with stock exchange is
complete.
Month 1: File
prospectus with SEC (Securities Exchange Commission). Issue press
release and sell the company to investors. Before the IPO Process is complete, it is essential to implement all of the necessary controls, procedures, and systems that will now be required within
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"public life." Staff changes must be made, new financial systems tested, functions like human resources must be managed, etc. The entire IPO process is much more involved than most people realize. A great IPO team and proper planning is the key to a smooth IPO process.
Ideal IPO Process:
On Monday morning, the newspaper should carry an advertisement which is the prospectus of the IPO, which only talks about the firm and is silent on valuation.
The IPO should take place on Tuesday evening, from 4 PM to 5 PM. The auction should be a simple uniform-price auction with full transparency. A picture of the demand schedule, and the cut-off price, should update on the screen in real-time.
Investors should be able to go to any NSE terminal and place orders into the auction. This harnesses 10,000 odd computer screens in 300 cities all over India in the auction process. From the issuers perspective, NSCC should perform the credit enhancement exactly as it does on the equity market. At a legal level, all orders on the screen should be placed by NSCC, thus shielding the issuer from the credit risk associated with anonymous order placement.
There should be no fragmentation of the shares on offer. All shares to be sold should go through a single auction. If a retail investor wanted to "access the IPO at prices close to the offer price" she would just place non-competitive bids at the IPO, where she bids to buy (say) 100 shares at the IPO price, whatever it proves to be.
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PERFORMANCE OF IPO IN INDIAN MARKET Allocation of shares in the depository should take place on Tuesday itself. There should be no physical shares. Trading on NSE should start on Wednesday (the next day). This gives us a one-- day lag between the IPO and the start of trading.
This proposed IPO process sounds startlingly effective. To put it in perspective, it is part of the same disintermediation process that we have seen in other areas of areas of the financial markets. With anonymous, electronic trading on the equity market, the broker/dealer has been fundamentally disinter mediated out of secondary market trading, which is now dominated by the actions of buyers and sellers (and not intermediaries). In that same fashion, the IPO process proposed here uses technology to link up the issuer and the investor with a transparent pricing mechanism, and eliminates the traditional overheads of intermediation.
The Procedure for the Issue of an IPO:
Many of these steps can be undertaken prior to formal launch of the offering and filing of the offer document with SEBI and other regulators
Preparing for IPO.

Review business plan. Capital structuring. Initiate research. Corporate governance. Financial statements.
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Due diligence.
Business and legal due diligence. Re-stated audited financials. Exemptions and approvals.
Offer document.
Business overview. Management discussion. Statutory disclosures.
Pre-issue marketing.
Meeting with institutional investors. Research briefings. Corporate publicity.
Launch IPO
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File with SEBI. Road shows.
Document of IPO:
A company coming out with a public issue has to come out with an offer document/prospect.
An offer document is the document that contains all information you need about the company. It will tell you why the company is coming is out with a public issue. Its financial and how the issue will be priced.
The Draft Offer Document is the offer document in the draft stage. Any company making a Public issue is required to file the draft offer document with the Securities and Exchange Board of India (SEBI).The market regulator.
If SEBI demands any changes. They have to be made. Once the changes are made. It is field with the registrar of companies are the Stock Exchange. It must be filed with SEBI at least 21 days before the company files it with the ROC/ Stock Exchange during the period. You can check it out on the SEBI website.
Red Herring prospectus is just like the above except that it will have all the information as a draft offer document. It wills, however, not have the details of the price or the number of shares being offered or the amount of issue. That is because the Red Herring prospectus is used in book
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building issues only, where the details of the find price are known only after bidding is concluded.
IPO MARKET IN INDIA:
The IPO Market in India has been developing since the liberalization of the Indian economy. It has become one of the foremost methods of raising funds for various developmental projects of different companies.
The IPO Market in India is on the boom as more and more companies are issuing equity shares in the capital market. With the introduction of the open market economy, in the 1990s, the IPO Market went through its share of policy changes, reforms and restructurings. One of the most important developments was the disassembling of the Controller of Capital Issues (CCI) and the introduction of the free pricing mechanism. This step helped in developing the IPO Market in India, as the companies were permitted to price the issues. The Free pricing mechanism permitted the companies to raise funds from the primary market at competitive price.
The Central Government felt the need for a governed environment pertaining to the Capital market, as few corporate houses were using the abolition of the Controller of Capital Issues (CCI) in a negative manner. The Securities Exchange Board of India (SEBI) was established in the year 1992 to regulate the capital market. SEBI was given the authority of monitoring and regulating the activities of the bankers to an issue, portfolio managers, stockbrokers, and other intermediaries related to the stock markets. The effects of the changes are evident from the trend of the resources of the primary capital market which Includes rights issues, public issues, private placements and overseas issues. The IPO Market in India experienced a boom in its activities in the year 1994.In the year 1995 the growth of the Indian IPO market was 32 %.The growth was halted with the South East Asian crisis. The markets picked up speed again with the introduction of the software stocks.
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IPO Grading
IPO GRADING is designed to provide investors an independent, reliable and consistent assessment of the fundamentals of new public issues. It includes an assessment of business and financial prospects, management quality and corporate governance.
IPO Grades are assigned to each company by the credit rating agencies (CARE, ICRA, CRISIL etc.) Rating given by Credit Rating Agencies:-
IPO Grade 5 strong fundamentals IPO Grade 4 above average fundamentals IPO Grade 3 average fundamentals IPO Grade 2 below average fundamentals IPO Grade 1 poor fundamentals
CHAPTER 2:
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RESEARCH METHODOLOGY:
Statement of problem Scope of the study Objective of study
Selection of Sample Significance of study

Reference period Source of data Tools & techniques Chapter schema: Limitation of study Review of literature
Statement of problem:
To measure short term performance and long term
performance of IPOs. To ascertain the profitability of IPO to the investors who invested. To analyze the volatility of companys post-performance in IPO market.
Title of the study:-
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THE STUDY ON Short and long PERFORMANCE OF INITIAL PUBLIC OFFER (IPO) LISTED IN THE YEAR 2010 WITH REFRENCE TO WAY2WEALTH SECURITIES Ltd.
Scope of the study:

Analysis of 10 IPOs from different years. Measurement of performance with reference to average return in Short run and Long run. (1month, 6month, 12month, 24month, 36month). Project emphasis more in fluctuation of share price after public offering retain then effect of systematic factor.
Objective of study: Main:
To compare performance of IPO in same day of 1day or in short-run & long run.
To know profit potential of IPOs after long period of time.
Secondary:

To understand the return & risk associated of time. To understand profit potential in IPOs & in secondary market.
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Selection of sample:
Project is covered 10-IPOs from different sectors from the selected year.
Significance of study:
The profit opportunity for investor. Performance of IPO in Indian market Complete analysis historical data
Reference period:
6th February, 2010 to 19th February, 2014.
Source of data:
Primary data Secondary data: Electronic source (like websites, blogs, etc.) magazine, newspaper. Book & etc.
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Tools & techniques:

Moving Average Method Average Returns
Chapter schema:
1. Introduction of IPO 2. Research Methodoly 3. Company profile 4. Data collection and analysis 5. Data interpretation, Finding and Conclusions.
Data collection:
Issue Details 10 IPO, Data related to the performance of first day performance of Particular IPO. Offer price of all 10 IPO. & Closing price (after 1month, 3month, 6month, 1year, 2year, 3year,) from listing date.
Review of literature
A vast number of empirical studies on initial equity issues in various international markets document substantial abnormal returns. Following the tradition of efficient markets, these findings pose a challenge to financial
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research. A recent excellent survey of the US literature on IPOs with additional references to other markets is given in Welch and Ritter (2002). The published work relating to the topic is reviewed by the Researcher. The relevant literature is reviewed on the basis of Books, Periodicals, News Papers and Websites. The detailed review is given below:-
a. Subrahmanyam, A., S. Titman (1999) in their article The Going Public Decision and the Development of Financial Markets, published in the Journal of Finance mention that stock price efficiency, the choice between private and public financing, and the development of capital markets in emerging economies. Generally, the advantage of public financing is high if costly information is diverse and cheap to acquire, and if investors receive valuable information without cost.
b. Vineet Kohli (2009) in his article Do Stock Markets Allocate Resources Efficiently? An Examination of Initial Public Offerings, published in the Economic & Politically Weekly, concluded that high prices of new equity issues are not related to their future operating performance. It was shown that investors neglect the low profitability aspect of new issues and over emphasize their growth performance. The expectation of growth at the time of issue is not met subsequently.
c. Arwah Arjun Madan (2003), in his article Investments in IPOs in the Indian Capital Market, published in Bimaquest conclude that in the long run (five-year
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PERFORMANCE OF IPO IN INDIAN MARKET after listing), there is a drastic fall in the return on IPOs returns; returns are found to be negative from the second to the fifth year of listing.
d. Anand Adhikari (2010), New Listings Pied Pipers of Primary Market published in Business Today point out that companies with unique business models got listed in the year 2009-10 and made their investors rich.
e. Atul Mehra (2010) IPO Boom, Business Today, point out that promoters are in hurry to IPO because they do not want to be left out.
f. Jagannadham Thunuguntla (2011) in his article IPOs: More Misses Than Hits, published in the Dalal Street Investment pointed out that, the age old philosophy of understanding the company and sticking to the basics should be given due respect. Let the buyer be made aware that the investor has to put a price tag to his hard earned money. There is a need for investor education and awareness and the connections should be on a stable income than an becoming rich overnight.
These conclusions have some important implications for the design of the financial system.
Limitation of study:
Study is only of 10 IPOs from year 2010 of different sectors. It may not give complete idea about the performance of IPOs in short & long run.
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Study analysis the perform only on compare to the retain of index effect of other factor are market.
Tools which are used may have certain militate.
CHAPTER 3:
COMPANY PROFILE
Way2wealth is in the financial advisory business, where knowledge is the key differentiator, change is continuous, and the quality of response and customer servicing efforts determines our success. The changing face of this industry mandates the new entrants to have extremely high professional standards. Individuals who are dynamic, result oriented and possessing a natural flair for understanding and advising on financial products will find their own niche in this environment. Amidst this backdrop Way2Wealth is at the forefront redefining, pioneering and setting benchmark for the way financial intermediaries should function in the future. Our aim is to make investment decisions for our customer simpler and easily available, and be an integral part of their life cycle.
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History:
THE JOURNEY SINCE 1984
SIVAN SECURITIES
VENTURE FUNDING
INVESTMENT CONSULTANCY
VENTURE FUNDING INVESTMENT CONSULTANCY SIVAN SECURITIES
Way2Wealth legacy dates back to Sivan Securities (1984), a premier financial intermediary and incubator for IT start-up firms, spun off its securities broking &
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investment banking arm as Way2Wealth in 2000 and its Venture Capital division came to be known as Global Technology Ventures (GTV).
THE VISIONARY: - Mr.V.G.SIDDHARTHA Mr. Siddhartha has a yen for creating companies and great brands. He has been awarded 'Entrepreneur of the year'-2003 by the Economic Times. He is now actively involved and committed to realizing way 2 wealth's vision, setting new standards in the retail financial services in India.
VISION Way2Wealth is a premier Investment Consultancy Firm, launched with the mission to be the preeminent destination for personalized financial solutions helping individuals creates wealth.
MISSION "To be the pre-eminent destination for personalized financial solutions helping individuals create wealth".
PHILOSOPHY
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Believe that knowledge combined with investors trust and involvement will lead to the growth of wealth and make it an exciting experience. Security: It ensures that the personal information given to us by you at the time of filling up the application form and the client agreement would be stored in a safe and secure place. Also ensure that the personal information on the web is placed in the secured portion of our web-site. We use an advanced 128 bit encryption technology, the Secure Socket Layer (SSL), which is one of the best available technology to ensure that the information transmitted between you and us across the Internet is safe and cannot be accessed by any outsider. SSL has been universally accepted on the World Wide Web for authenticated and encrypted communication between clients and servers.
Key persons Shashibhushan M R - Chief Executive Officer Shashibhushan, has over 21 years experience in Capital markets. In his last assignment with IL&FS
Investsmart Ltd. for over 9 years, he started as Head - Retail Business (Karnataka Region) and subsequently moved to its Corporate Office in Mumbai to head their Retail Equities Business, which included the Branch Network, Alternate Channels, Private Clients Group and Investments Advisory. Currently as CEO for Way2Wealth, he is in-charge of strategic planning. Renowned for turnaround, he is deploying his vast experience in charting the way forward for way2wealth - a name to reckon in the India financial space.
Ketan Sheth - Director (Research)

As director of Research, he drives the Portfolio Management Services desk Known in the markets for his astute stock-picking ability.
Sunil Ramrakhiani Director & Chief Operating Officer
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Currently as COO - Way2Wealth, he would be driving business strategy and is in-charge for trading products, including equities and derivatives in the equities and commodities markets.
Statistical Business Units (SBUs)
Business Overview
25 years in the financial services industry. Part of the coffee Day group. Renowned companies in the group, incl. Amalgamated Bean Coffee Trading Company Ltd.
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PERFORMANCE OF IPO IN INDIAN MARKET Management having a combined experience of over 100 years in the financial services industry. Reputed research desk for fundamental & technical analysis. Exclusive desks for advising and services HNI & Corporate relationships. 296+full service branches spread across 108+Indian cities/Towns. 55,000+broking clients, 1.5 lakh relationships. 750+ wealth managers across the country. 300+ associates for distribution of primary products.
NATURE OF BUSINESS CARRIED ON

Broking Business: Network of 296+ full service branches spread across 108+ Indian cities/towns. 55,000+ broking clients.
Depository holdings - 7500mn+ Structured product offering for HNI clients. Seamless execution services for corporate, institutional & retail clientele. Arbitrage
Distribution of Financial Products: Distribution of MF's, Insurance, PO's. Sticky equity centric assets and low churn. 1.5 lakh relationships. Corporate Acquisition Group for corporate acquaintances.
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750+ wealth managers across the country. 300+ associates for distribution of primary products.
Fund Based Activities Margin Trade Finance IPO Financing Mutual Funds financing. PMS assets of Rs.800 mn. Structured Products assets of Rs.1000 mn.+Structured products ESOP funding
Area of operation
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Key offices:
Corporate office: 4072-75 Oberoi Gardens Estate, B Wing,Chandivli,Andheri(E), Mumbai 400072 Tel no:(022)40843900 Registered Office: Frontline Grandeur,No.14,Walton Road, Bangalore 560001 Tel.No(080)43676869 Fax:(080)43676999
CHAPTER 4: DATA COLLECTION AND INTERPRETATION.
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As the project deals with Post-Performance of IPOs issued in the year 2010 into Indian market, the data required will be available will available sources like internet, print media (newspapers, journals, magazines, companys prospectus &etc.). So the various sources have be used to collect the required information. Way2wealth pvt ltd. Is a stock brokering company which allowed to do my project in its premises, in the company they are various stock brokers and spectators with whom I contacted directly to get to know about the performance about the respected IPOs in the market and the reasons behind they performance.
1. PERSISTENT SYSTEMS LIMITED

Persistent Systems is a global company specializing in software product and technology services. It has 6,000 employees and some 300 customers spread across North America, Europe, and Asia. Its focus areas are: Cloud Computing, Mobility, Analytics and Collaboration, for telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals. Incorporated in 1990, Persistent Systems Ltd is in the business of outsourced software product development (OPD) services. Company design, develop and maintain software systems and solutions create new applications and enhance the functionality of existing software products. Company's main focus is in the area of telecommunications, life sciences and infrastructure and systems. Persistent
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Systems won the 2008 NASSCOM Innovation Award and recognized as one of the leading technology companies in the Deloitte Touch Tohmatsu Technology Fast 500 Asia Pacific 2009. Company has nine development centers in Europe, America and Asia. In India, company operates from Pune. Company has workforce of more than 3500 software professionals. History Persistent Systems was incorporated as Persistent Systems Private Limited on May 30, 1990. It was subsequently converted into a public Limited company on September 17, 2007 with the name Persistent Systems Limited and a new certificate of incorporation was issued on September 28, 2007 from the RoC. Shares in the company were listed on the National Stock Exchange of India in March 2010.[1] The operations of Nagpur-based Info spectrum India Private, an outsourced private development of US Company Info spectrum, was taken over by Persistent in February 2011.
Issue Detail: Issue Open: Issue Type: Issue Size: Issue Size: Mar 17, 2010 - Mar 19, 2010 100% Book Built Issue IPO 5,419,706 Equity Shares of 10
168.01 Crore
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Face Value: Issue Price: Market Lot: Minimum Order Quantity: Listing At: Book running lead manager:
10 Per Equity Share . 290 - 310 Per Equity Share

20 Shares 20 Shares BSE, NSE Enam Securities Private Limited & J.P. Morgan India Private Limited.
Objects of the Issue: The objects of the Issue are to
1. Establish our development facilities; 2. Capitalize our Subsidiaries for establishing development facilities and meeting fit outs and interior design costs; 3. Procure hardware; 4. Fund expenditure for general corporate purpose and 5. Achieve the benefits of listing on the Stock Exchanges.
Persistent Systems IPO Listing Date

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: Tuesday, April 06, 2010 533179 PERSISTENT 'B' Group of Securities IT Consulting & Software
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ISIN: Issue Price: Face Value: INE262H01013
310.00 Per Equity Share 10.00 Per Equity Share
Listing Day Trading Information

BSE 440 420 400 380 360 340 320 300 Issue Open: Low: High: Last Price: Trade: Volume: 9,230,459 14,945,321 BSE NSE High: Last Trade: 448 408 447.3 406.35 Issue Price: Open: Low: 310 400 386 310 361.6 361.6 NSE
Analysis and interpretation:From the above table we can analyze the first day performance of the persistent system ltd, in both the markets NSE & BSE the issue price is same but opening price under BSE is more than NSE and later on, the highest price and closing is the same in both the markets.
Number of Times Issue is Subscribed (BSE + NSE)
Particulars QIBs NIIs RIIs
Share 2926638 487773 1463319
Page | 36

Employee Reservation Total 541976 5419706
10%
QIBs NIIs
27% 54% 9% RIIs Employee Reservation
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Persistent Systems Ltd companys Equity IPOs QIBs hold the major share that is 54%, whereas NIIs hold only 9%, RIIs hold 27% and the companys employees reservation is 10%.
Monthly wise performance of first financial year 2010-2011
Open Month
High
Low
Close
10-Apr 10-May 10-Jun 10-Jul
400 394.9 385 411.9
448 404.7 423.8 507.5
382.65 365 370.35 410.1
397.95 386.9 412.45 456
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10-Aug 10-Sep 10-Oct 10-Nov 10-Dec 11-Jan 11-Feb 11-Mar 456.65 454.1 443.1 406 385 433 390.1 372.5 496.9 474 454.2 424.9 444 467.15 407.7 409.4 450.25 400.55 395 373.25 370 381.8 371 337.05 453.75 445.5 402.95 385 430.1 388.75 376.4 366.7
550 high prices 500 low prices
450
400
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closing vlaues
ge
Analysis and interpretation:From the above chart we can understand and ascertain the Post- Performance of Persistent System Ltd, in the first 12 months i.e... Between April 2010 to March 2011. The chart clearly puts cross the performance of this particular company, in which using the closing price of every particular month, I calculated 2yearly moving average by using which we can measure the stability and performance.
In the above chart we can see how the prices have been fluctuating from each to another month, using the closing price of every month we can conclude the performance of this companys IPO. The company started its path in April 2010 with opening price of Rs.400 and ended with Rs.397.95, so no much change in one month of time. In the month of July the company attained the highest share price that is Rs.507.5. the moving average trend line (Black line) will show the average closing for the period of one year.
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PERFORMANCE OF IPO IN INDIAN MARKET First 5 year ANNUAL PERFORMANCE

Period: Year 2010 to Year 2014 Year Open High Low Close 1250 2010 2011 2012 2013 2014
400 433 330 515 981 507.5 467.15 530 1,057.75 1,047.70 365 280.8 301.1 477 960.4 430.1 328.6 511.95
5 YEAR ANNUAL PERFO
1150 1050 950 PRICE RANGE 850 750 650 550 450 350 250
2010 2011 2012 2013
980.05 965.4
PERIOD {YEARS}
Analysis and interpretation:From the above the chart which presents the annual performance of 5years we can analyze the performance the performance of Persistent System Ltd IPO from 2010 to 2014. While comparing the performance with one to another year. Till the year 2012 the closing price and the highest price is stable and once for all in the 2013 the price of the share will increase up to 980 &1057 respectively. Its sing of hike in price, as IT sector started performing the companys scope is been increased.
2. MANDHANA INDUSTRIES LIMITED

Incorporated in 1984, Mandhana Industries Limited is vertically integrated textile and garment manufacturing company in India having presence across operations ranging from yarn dyeing to garment manufacturing. Mandhanas business includes designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing. Mandhana Industries ltd currently carries out its garment manufacturing operations with 1,150 sewing machines with an overall production capacity of 36.00 lakhs pieces per
Page | 40
PERFORMANCE OF IPO IN INDIAN MARKET annum. In addition, they are also equipped to perform decoration and surface ornamentation processes like embroidery, printing & washing. As of December 31, 2009, the Companys export customers constituted around 100 customers, which includes brands/labels and retail chains for garments including Tommy Hilfiger, Charles Vogele, FCUK, RIP CURL, All Saints, Simint, Pepe Jeans, LAFUMA, Auchan, Ben Sherman, Valentino, Colins and New Yorker. The Company also getting revenue from sale of yarn, with the yarn dyeing capacity of 30 lakh kgs per annum. The Company caters to clients like Aditya Birla Nuvo (manufacturers of brands like Louis Phillipe, Van Heusen, Peter England, and Allen Solly), Pantaloon Retail, ITC (manufacturer of brand Wills LifeStyle), Woodland, Liliput, Blackberry, Indian Terrain Clothing, Colorplus Fashion, Turtle, PJL Clothing India Limited (manufacturers of the brand Pepe in India), Gini and Jony Limited and S-Oliver.
Company Promoters:
The Promoters of Mandhana Industries Ltd are:
1. Purushottam C Mandhana - Chairman & Managing Director, 2. Manish B Mandhana - Joint Managing Director, 3. Biharilal C Mandhana - Executive Director, 4. Ghyanendra Nath Bajpai - Ind. Non-Executive Director,
5.
Khurshed M Thanawalla - Ind. Non-Executive Director.
Company Financials:
Particulars For the year/period ended (Rs. in Lahks)
Page | 41

31-Mar-09 Total Income Profit After Tax (PAT) 46,325.17 3,656.42 31-Mar-08 40,693.94 3,530.38 31-Mar-07 24,033.69 1,943.10 31-Mar-06 18,134.79 1,212.63 31-Mar-05 12,656.42 641.11
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Apr 27, 2010 - Apr 29, 2010 100% Book Built Issue IPO 8,300,000 Equity Shares of 10
107.90 Crore 10 Per Equity Share 120 - 130 Per Equity Share
50 Shares
Minimum Order Quantity: 50 Shares Listing At: BSE, NSE
Book Running Lead Manager: EDELWEISS CAPITAL LIMITED & AXIS BANK LIMITED
Objects of the Issue:

The Objects of the Issue are:
Setting up of new garment manufacturing facility at MIDC, Tarapur Maharashtra;
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Expansion of yarn dyeing and weaving facility at MIDC, Tarapur, in the State of Maharashtra; Margin Money for Working Capital; General Corporate Purpose and Meeting issue expenses.
Mandhana Industries IPO Listing Date

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price:
Face Value:
Wednesday, May 19, 2010 533204 MANDHANA 'B' Group of Securities Textile INE087J01010 Rs. 130.00 Per Equity Share
Rs. 10.00 Per Equity Share
BSE Issue Price: 130
NSE 130
Open: Low:
132.7 130
131 130
Page | 43

High: Last Trade: 139 138 137 136 135 134 133 132 131 130 Issue Price: Open: Low: High: Last Trade: BSE. NSE. Volume: 10,883,290 16,919,452 139.15 133.65 139.5 133.55
Chart Title
140
Analysis and interpretation:From the above table we can analyze the first day performance of the Mandhana Industries ltd, in both the markets NSE & BSE the issue price is same but opening price under BSE is more than NSE and later on, the low price, highest price and closing is the same in both the markets.

Subscribers QIBs NIIs RIIs Total Share 2996150 1245000 2905000 7146150
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41%
42%
17%
QIBs NIIs RIIs
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Mandhana Industries companys Equity IPOs QIBs hold the major share that is 42%, whereas NIIs hold only 17% and RIIs hold 41%.
Company :Mandhana Industries Ltd 533204 Period: Year 2010 to Year 2014
All Prices in
Year
Open
High
Low
Close
2010 2011 2012 2013
132.7 264.65 221.85 275
295 320.1 299 309
130 166 211.05 195.9
262.2 217.6 273.4 232.3
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2014 234.9 238 231.95 232.1
340 320 300 280 260 240 220 200 180 160 140 120 100 2010 2011 2012 239.9 245.5 252.85 open values high prices low prices closing values 2yearly moving average
Price range
Period
2013
2014
Page | 46
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3. HATHWAY CABLE & DATACOM Ltd

Incorporated in 1995, Hathway Cable & Datacom Limited is the leading cable television services provider in India, as well as one of the leading cable broadband services providers. Company offer analog and digital cable television services across 125 cities and towns and highspeed cable broadband services across 20 cities. Hathway Cable is the leading operator in several key markets of India including among others, cities such as Mumbai, Delhi, Bangalore, Ahmedabad, Hyderabad, Jaipur, Indore, Bhopal, Baroda and Surat. As per MPA Report, Hathway is the largest distributor of digital cable in India. As of December 31, 2008, their digital television subscriber base constituted approximately 42% of the total digital cable television market in India. As of July 31, 2009, company had 1,319,646 subscribers for analog cable television services and 972,969 digital cable television subscribers. Hathway Cable & Datacom hold a pan-India ISP license and were the first cable television services provider to offer broadband internet services. They are currently India's largest cable broadband services provider with 953,084 two-way broadband enabled homes passed, as on 31 July, 2009. In addition to cable television and broadband service offerings, they also generate advertising and airtime revenue from advertisements aired for and on behalf of channels owned by third parties, such as the Hindi movie channel, Cine Channel, and the music channel, iTV. . Company Promoters: The individual promoters of the Company are: 1. Mr. Akshay Raheja, age 27 years, has been a non-executive Director since 2000. He is a commerce graduate from the University of Mumbai and has obtained an MBA from Columbia Business School, New York.
2. Mr. Viren Raheja, age 25 years, has been a non-executive Director since 2008. He is a commerce graduate from the University of Mumbai and has obtained an MBA from London Business School.
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Company Financials:
Particulars 31-Mar-09 Total Income Profit After Tax (PAT) 6,728.76 116.95 For the year/period ended (Rs. in Million) 31-Mar-08 4,346.65 46.70 31-Mar-07 3,086.31 10.97 31-Mar-06 2,532.38 9.07 31-Mar-05 2,085.78 6.55

The objects of the Issue are to: 1. Fund customer acquisitions; 2. Investment in the development of digital capital expenditure, services and set top boxes; 3. Investment in the development of broadband infrastructure, capital expenditure and services; 4. Repayment of loans; and 5. Fund expenditure for general corporate purposes.
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Feb 09, 2010 - Feb 11, 2010 100% Book Built Issue IPO 27,750,000 Equity Shares of Rs. 10 Rs. 666.00 Crore Rs. 10 Per Equity Share Rs. 240 - Rs. 265 Per Equity Share 25 Shares
Page | 49
PERFORMANCE OF IPO IN INDIAN MARKET Minimum Order Quantity: Listing At:

Hathway Cable IPO Listing Date Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Booking Running Lead Manager Thursday, February 25, 2010 533162 HATHWAY B Group Broadcasting & Cable TV INE982F01028 Rs. 240.00 Per Equity Share Rs. 10.00 Per Equity Share 1. Kotak Mahindra Capital Company Limited 2. Morgan Stanley India Company Pvt Ltd 3. UBS Securities India Private Limited
25 Shares BSE, NSE
Listing Day Trading Information BSE Issue Price: Open: Low: 246 206.2 250 204.5 240 NSE 240
Page | 50

High: Last Trade: Volume: 6,249,043 7,443,846 246 207.8 250 207.65
250 245 240 235 230 225 220 215 210 205 200 Issue Price: Open: BSE Low: NSE High: Last Trade:
Analysis and interpretation:From the above table we can analyze the first day performance of the Hathway Datacom and Cable ltd,
in both the markets NSE & BSE the issue price is same but opening price under BSE is less than NSE by Rs.4 and
later on the low price, highest price and closing is the same in both the markets.
Subscribers QIBs NIIs RIIs Total
Share 11655000 2775000 8325000 22755000
Page | 51
37% QIBs 51% NIIs RIIs
12%
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Hathway Datacom & Cable Ltd companys Equity IPOs QIBs hold the major share that is 51%, whereas NIIs hold only 12% and RIIs hold 37%.
Company :Hathway Cable & Datacom Ltd 533162 Period: Jan 2010 to Feb 2014
All Prices in
Month
Open
High
Low
Close
10-Feb
246
246
189.1
201.05
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10-Mar 10-Apr 10-May 10-Jun 10-Jul 10-Aug 10-Sep 10-Oct 10-Nov 10-Dec 203.9 209.75 211.25 188 182.9 176 205.8 207.9 184.15 167 224.4 229.1 216 198.25 188.5 233.7 237 215 206 180 190 196.8 181 175 170.5 175.05 203.1 180.05 150 148 207.2 210.25 187.4 183.25 174.7 205.5 204.35 184.1 165.2 167.05
11-Jan
169.25
170.25
126.2
127.85
250
200
150
100
50 10-Aug 10-Feb 10-Sep 10-Mar 10-May 11-Feb 10-Apr 11-Jan 11-Mar 10-Nov 10-Jul
10-Oct
10-Jun
Opening value
High prices
Low prices
10-Dec
Closing price
Page | 53
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Company :Hathway Cable & Datacom Ltd 533162

Period: Year 2010
to Year 2014
All Prices in
Year 2010 2011 2012 2013 2014 Open 246 169.25 110 286 285 High 246 170.25 306 301.7 286.8 Low 148 72 110 227.05 251 Close 167.05 109.9 283.35 282 252.1
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4. Thangamayil Jewellry Limited (TJL)
Incorporated in 1984, Thangamayil Jewellery Limited (TJL) is one of the leading jewellery retailers in Madurai. The Company trades in Gold Jewellery, Diamond and Platinum jewels. Variety of ornaments like Gold chains, Necklaces, Bangles, Ear Studs, Nose Rings, Waist Belts, Kasu Malai, Finger Rings, Bracelets and other items fitting to the taste of the customers are being sold by the Company. The ornaments are also made to order as per specific requirements by the customer and the same are manufactured at the companys unit near Madurai. Further gold Jewels are bought readymade from various dealers in the states of Andhra
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PERFORMANCE OF IPO IN INDIAN MARKET Pradesh, Gujarat, Kerala and West Bengal, according to the designs, models and current fashions and demand in the market for sale at the counters. Thangamayil introduced the Hallmarking practice for the first time in Madurai and also conducted an awareness campaign introducing this concept to the customers in the market serviced by the Company. The gold jewels are tested for its purity and hallmarked at 916* for a guaranteed quality and purity of its contents by the Company. The Company presently has a customer base of more than 1, 00,000 customers. The Company has its showroom at Netaji Road, Madurai. This showroom was set up in the year 2001. The showroom is housed in a three storied set up in total area of 11,416 sq. ft. TJL has a policy of price assurance with respect to returns of the product subject only to changes in underlying metal prices. Again, the Company has very transparent practices when it comes to exchange of jewellery. The Company has acquired sophisticated machinery to measure the quality and carat value of the gold brought in. The measurements are scientific and tamper proof, thereby giving the customer an assurance on the exchange value that they receive in return for their jewellery.
Company Promoters:
The company has been promoted by: 1. Mr. Balarama Govinda Das, is the founder member and the Managing Director of the He is a Commerce Graduate from the Madurai Kamaraj University. 2. Mr. Ba. Ramesh, is also a founder member and a Joint Managing Director of the Company. 3. Mr. N.B. Kumar, manages the day-to-day affairs of the Company. He is incharge of the entire human resources in the company. Company.
Company Financials:
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Particulars 31-Mar-09 Total Income Profit After Tax (PAT) 24,685.56 749.27 For the year/period ended (Rs. in Lacs) 31-Mar-08 22,460.11 561.14 31-Mar-07 12,722.37 309.90 31-Mar-06 4,924.70 146.07 31-Mar-05 2,693.89 34.45

The objects of the Issue are: 1. To expand existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi and to renovate the existing outlet at Madurai; 2. To meet the working capital requirement; 3. To meet the expenses of the Issue; and 4. To list the equity shares of the Company on the Stock Exchanges.
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Minimum Order Quantity: Listing At:
Book Running Lead Manager
Jan 27, 2010 - Jan 29, 2010 100% Book Built Issue IPO 3,833,667 Equity Shares of Rs. 10 Rs. 28.76 Crore Rs. 10 Per Equity Share Rs. 70 - Rs. 75 Per Equity Share 80 Shares 80 Shares BSE, NSE
Keynote Corporate Services Ltd
Thangamayil IPO Listing Date
Page | 58

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Friday, February 19, 2010 533158 THANGAMAYL 'B' Group of Securities Other Apparels & Accessories INE085J01014 Rs. 75.00 Per Equity Share Rs. 10.00 Per Equity Share

83 82 81 80 79 78 77 76 75 74 73 72 71 70 69 68 Issue Open: Price: Low: High: Last Trade: Last Trade: Volume: Rs. 71.10 8,613,802 Rs. 71.05 11,915,169 BSE NSE Low: High: Rs. 70.00 Rs. 79.00 Rs. 70.00 Rs. 82.00 Open: Rs. 70.00 Rs. 75.70 Issue Price: Rs. 75.00 Rs. 75.00 BSE NSE
Analysis and interpretation:From the above table we can analyze the first day performance of Thangamayil Jewellry ltd, in both the markets NSE & BSE the issue price is same but opening price under BSE is more than NSE and later on, the low price, highest price and closing is the same in both the markets.
Page | 59

Subscribers QIBs NIIs RIIs Employee reservation Total Share 1989465 1392625 596839 128571 4107500
3% 15%
48%
QIBs NIIs
34%
RIIs Employee reservation
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Thangamayil Jewelry Ltd companys Equity IPOs QIBs hold the major share that is 48%, whereas NIIs hold 34%, RIIs hold 15% and the companys employees reservation is 3%.
Company :Thangamayil Jewellery Ltd 533158

Period: February 2011 to January 2011
All Prices in
Month
Open
High
Low
Close
Feb-11 Mar-11 Apr-11
70 66.1 83.5
79 82.4 113
62 62.6 79.95
65.2 81.35 96.1
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May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 96.8 100.25 126.25 119 158.1 162.85 165.75 161 166.15 104.5 143 129 172 178.65 169 187.5 178.8 175.2 90 98 112 115.6 151 156.25 152.2 140 153 99.5 127.1 118.7 158.8 161.85 163.6 161.5 166.95 156.4
190 180 170 160 150 140 130 120 110 100 90 80 70 60 50
Price range
Opening values High price Low price Closing price 2 per. Mov. Avg. (Closing price)
period
Page | 61

Company :Thangamayil Jewellery Ltd 533158
Period: Year 2010 to Year 2014
All Prices in
Year
Open
High
Low
Close
2010 2011 2012 2013 2014*
70 166.15 143.5 325 153.3
187.5 205 351 346 170
62 139 140 146 138
166.95 144.7 325.3 157.3 149.9
Five year Annu

350 300
Price range
250 200 150 100 50 2010 2011 2012
Period:
Page | 62
5. Jubilant FoodWorks Limited

Incorporated in 1995, Jubilant FoodWorks Limited (the Company) is a Jubilant Bhartia Group Company Jubilant FoodWorks Ltd is a food-service company and currently operates Dominos pizza stores in India. Jubilant FoodWorks Limited is the master franchisee of Dominos Pizza. According to the India Retail Report, 2009, they are the largest pizza chain in India and one of the fastest growing multi-national fast food chains between 2006-2007 and 2008-2009, in terms of number of stores. Jubilant FoodWorks Ltd is promoted by Mr. Shyam Sunder Bhartia, Mr. Hari Shanker Bhartia and Jubilant Enpro Private Ltd. Company opened first Domino's Pizza store in India in January 1996 at New Delhi. Today Domino's Pizza India has grown into a countrywide network of stores, with a team of over 6,000 people. Dominos Pizza India had a network of 274 stores, in 55 cities, in 20 states and union territories (as on 31st August 2009). They have recently renewed their contract with master franchise controller Dominos International. The new contract is for 15 years, it gives them exclusive rights for operations in India, Nepal, Sri Lanka and Bangladesh. The contract also says that Dominos will open 25 stores in 2011 and 2012. For fiscal 2009, 2008 and 2007, company's net sales are Rs. 2,806.10 million, Rs. 2,111.57 million and Rs. 1,386.81 million, respectively, and company made a profit after tax of Rs. 67.43 million, Rs. 77.57 million and Rs. 55.80 million, respectively. The number of stores in India has increased from 130 as on March 31, 2007 to 241 stores as of March 31, 2009. Similarly, Domino's sold 8.99 million pizzas (including Add-ons) in fiscal 2007, 15.61 million pizzas (including Add-ons) in fiscal 2008 and 21.74 million pizzas (including Add-ons) in fiscal 2009. The Company launched Dunkin Donuts in India in April 2012 in Delhi. The Company has 21 Dunkin Donuts restaurants in India (as of 31st December, 2013).With the launch of Dunkin Donuts in India, the company is now well poised to address two distinct non-competing segments of the Food Service Industry in India, namely the home delivery of Pizzas market and
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PERFORMANCE OF IPO IN INDIAN MARKET the all-day part food and beverage market. Dunkin Donuts is the worlds leading Donuts, baked goods and coffee with market leadership Donuts, regular/decaf drip coffee, iced coffee, hot flavored coffee, bagels and muffin categories. Dunkin Donuts (DD) in India is positioned as a Food Caf, occupying the sweet spot between Cafs and quick service restaurants. DD serve a wide range of Donuts, Dunkin Donuts Original Blend drip coffee; espresso coffee based beverages such as cappuccinos and Lattes, fruit milkshakes, smoothies, tea, as well as a delectable range of sandwiches made out of artisan breads such as Focaccia, Croissant, Ciabatta, Bagels. Each Dunkin Donuts restaurant is designed with care and brings alive the brands International, youthful, colorful and playful brand personality. The restaurants offer its young guests a great ambience to catch up with their friends and family in a relaxed and comfortable environment. And yes, Dunkin also serve the worlds best Donuts.
Companys Promoters: Mr. Shyam S. Bhartia aged 57 years is our Chairman and founder director. He holds a bachelors degree in commerce from St. Xaviers College, Calcutta University. He is also a fellow member of the ICWAI. Mr. Shyam S. Bhartia has over 22 years of experience in the pharmaceuticals and speciality chemicals, food, oil and gas, aerospace and IT sectors. Mr. Hari S. Bhartia aged 53 years is our co-Chairman and founder director. He holds a bachelors degree in chemical engineering from the Indian Institute of Technology, Delhi. Mr. Hari S. Bhartia has over 20 years of experience in the pharmaceuticals, food, oil and gas, aerospace and information technology sectors. Jubilant Enpro Private Limited (JEPL). JEPL was incorporated as Enpro Services India Limited on November 6, 1991 under the Companies Act. The name of the company was changed to Enpro
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PERFORMANCE OF IPO IN INDIAN MARKET Services India Private Limited on March 5, 1993, further to Enpro Indian Private Limited on June 1, 1994 and further to Epro India Limited on October 10, 1994. Its name was subsequently changed to Jubilant Enpro Limited on October 15, 2001 and further to Jubilant Enpro Private Limited on December 12, 2003.
Mr. Shyam S. Bhartia and Mr. Hari S. Bhartia are the promoters of JEPL. There has been no change in the control or management of JEPL during the period of three years immediately preceding the date of filing of this Draft Red Herring Prospectus with SEBI. any stock exchange. The equity shares of JEPL are not listed on
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Jan 18, 2010 - Jan 20, 2010 100% Book Built Issue IPO 22,670,447 Equity Shares of Rs. 10 Rs. 328.72 Crore Rs. 10 Per Equity Share Rs. 135 - Rs. 145 Per Equity Share 40 Shares
Minimum Order Quantity: 40 Shares Listing At: BSE, NSE
Jubilant FoodWorks Ltd IPO Grading / Rating

Limited
Book Running Lead Manager: Kotak Mahindra Capital Company
Fitch has assigned an IPO Grade 3 to Jubilant FoodWorks Ltd IPO. This means as per Fitch, company has average fundamentals.
Jubilant FoodWorks IPO Listing Date
Page | 65

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Monday, February 08, 2010 533155 JUBLFOOD 'B' Group of Securities Restaurants INE797F01012 Rs. 145.00 Per Equity Share Rs. 10.00 Per Equity Share

BSE 240 230 220 210 High: 200 190 180 170 160 150 140 Issue Price: Open: Low: High: Last Trade: BSE NSE Volume : 31,753,857 56,963,373 Last Trade: 241.95 229 240.9 229.1 Issue Price: Open: Low: 161.6 161.6 160 160 145 NSE 145
Analysis and interpretation:From the above table we can analyze the first day performance of the Jubilant FoodWorks ltd, in both the markets NSE & BSE the issue price is same but opening price is slightly high of 0.6 in BSE than NSE later on, the low price, highest price and closing is the same in both the markets.
Page | 66
Subscribers 12% QIBs NIIs 36% RIIs
Shares 7141192 3,060,510
7141191
2267044
QIBs
Employees Reservation
NIIs
36%
Total
19609937
RIIs
16%
Emploee Reservation
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Jubilant FoodWorks Ltd companys Equity IPOs QIBs hold the major share that is 36%, whereas NIIs hold 16%, RIIs hold 36% and the companys employees reservation is 12%.
Page | 67
Company :Jubilant FoodWorks Ltd 533155 Period: Jan 2007 to Feb 2014
All Prices in
Month
Open
High
Low
Close
Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11
161.6 229.8 318 339.95 282.8 302.65 353.7 492 476.7 516 600.6 630
253.1 361.8 424.8 347.5 316.15 362.4 558 559 539.85 636.45 670.7 661
161.6 229.1 315.3 251.65 274.15 300 345.3 466 476.7 512 498.8 525.75
226.95 313.65 339.1 282.5 303.9 350 487.35 472.55 510.45 595.8 624.6 550.45
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Monthly wise Performance for first one month

700 650 600 550 500 450 400 350 300 250 200 150 Closing values Low prices High prices
Price range
Opening values
Jun-10
Jul-10
Apr-10
May-10
Mar-10
Nov-10
Aug-10
Dec-10
Feb-10
Sep-10
Oct-10
Jan-11
2 per. Mov. Avg. (Closing values)
Period
Company :Jubilant FoodWorks Ltd 533155 Period: Year 2008 to Year 2014
All Prices in
Year
Open
High
Low
Close
2010
161.6
670.7
161.6
624.6
Page | 69

2011 2012 2013 2014* 630 1,021.80 756 1,397.00 1,294.05 1,389.95 461 753.9
732 1,288.10 928 1,267.20
1,272.00 1,300.70 1,022.10 1,057.35
Five year Annual Performance

1450 1350 1250 1150 1050 950 850 750 650 550 450 350 250 150 2010 2011 2012 2013 2014*
Opening price High price Low price Closing price 2 per. Mov. Avg. (Closing price)
Price range
Period
6. Infinite Computer Solutions
Page | 70
PERFORMANCE OF IPO IN INDIAN MARKET Infinite Computer Solutions is a global service provider of Infrastructure Management Services, Intellectual Property (IP) Leveraged Solutions, and IT Services, focused on the Telecom, Media, Technology, Manufacturing, Power and Healthcare industries. Infinite Computer services span from Application Management Outsourcing, Packaged Application Services, Independent Validation and Verification, Product Development and Support, to higher value-added offerings including Managed Platform and Product Engineering Services. Infinite Computer's major customers includes Verizon, IBM, ACS, GE and AOL. Company have 14 offices across the globe, including offices in multiple locations in the US, UK, India, China, Malaysia, Singapore and Australia. Infinite is one of the leading providers of telecom- specific offerings to service providers, OEMs and ISVs in the Telecom vertical, globally. For fiscal year 2008-09, the telecom vertical contributed to 59.4% of their total revenues. Infinite Computer Solutions was founded in 1999 by Sanjay Govil. Infinite is listed on the Bombay Stock Exchange and the National Stock Exchange of India. Infinite has been ranked among the Top 20 IT Services providers by the Indian IT Industry body NASSCOM.
Infinite offers consulting and information technology services to companies in the BFSI, Telecom, Media & Content, Energy & Utilities, and Healthcare fields. Its services include IT Infrastructure Management Services, Application Management Services, Mobility & Messaging, and Product Engineering. In 2007, Infinite acquired US-based telecom firm Comnet International. In 2010, Infinite and Motorola entered a strategic alliance with Motorola where Infinite would take on Motorola's messaging business. This created the wholly owned subsidiary Infinite Convergence Solutions.
Infinite was ranked No. 5 in Dataquest's 2010 "India's 20 best IT employers." In August 2011 Forbes named Infinite one of their "Asia's 200 Best Under a Billion" companies. Infinite's CEO Upinder Zutshi has won "The CEO of the year Award" at ILC 2013. THE PROMOTER OF THE COMPANY
Page | 71
PERFORMANCE OF IPO IN INDIAN MARKET The promoter of Infinite Computer Solutions company is Mr. Sanjay Govil Mr. Sanjay Govil, Mr. Sanjay Govil, aged 42 years is the promoter and the Non Executive Chairman of the Company. He is an NRI, settled in USA. He holds the degree of Bachelor of Science degree in Electrical Engineering from Auburn University and a Master of Science degree in Electrical Engineering from Syracuse University. In the year 1999 he ventured on his own and set up this Company and has been the force behind the growth of the Company. Mr. Govil has extensive work experience with companies like IBM and Verizon Communications.

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to: 1. Capital Expenditure; 2. Acquisitions; 3. Repayment of Debt; 4. General Corporate Purposes; 5. Issue Related Expenses.
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price:
Jan 11, 2010 - Jan 13, 2010 100% Book Built Issue IPO 11,503,000 Equity Shares of Rs. 10 Rs. 189.80 Crore Rs. 10 Per Equity Share Rs. 155 - Rs. 165 Per Equity Share
Page | 72
PERFORMANCE OF IPO IN INDIAN MARKET Market Lot: Minimum Order Quantity: Listing At: Book Running Lead Manager 40 Shares 40 Shares BSE, NSE 1. India Infoline Limited & 2. Spa Merchant Bankers Ltd
Infinite Computer Solutions Ltd IPO Grading / Rating

CRISIL has assigned an IPO Grade 2 to Infinite Computer IPO. This means as per CRISIL, company has below average fundamentals.

210
Particulars
Issue Price: 200 Open: Low: 190 BSE. 180 NSE Volume: High: Last Trade:
BSE 165 178.35 178.35 205.8 191.6
NSE 165 170 170 206 191.8
16,382,299
24,435,160
170
160 Issue Price: Open: Low: High: Last Trade:
Analysis and interpretation:From the above table we can analyze the first day performance of the Infinite Computer Solutions ltd,
in both the markets NSE & BSE the issue price is similar, whereas both the opening and low price in BSE is
178.35 and in NSE is 170, highest price and closing is the same in both the markets.
Page | 73
SUBSCRIBERS QIBs NIIs

41% 41% QIBs NIIs
SHARE 4026050 1725450 4026050
RIIs TOTAL
9777550
RIIs
18%
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Infinite Computer Solution Ltd companys Equity IPOs QIBs hold the major share that is 41%, whereas NIIs hold only 18% and RIIs hold 41%.
Monthly wise Performance for first one Year
Page | 74
Company :Infinite Computer Solutions (India) Ltd 533154 Period: February 2010 to January 2011
All Prices in Month Open High Low Close
Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11
178.35 197.5 193.35 172.6 172.5 170.95 175 161.1 167.9 162.25 171 192
221.8 222.9 201 199.7 177.95 182 182.85 185.8 173.5 187.5 189 222
178.35 190 169.55 152.75 163.05 166.7 158.05 157.25 160.3 156.25 165 175
196.45 190.85 172.55 171.3 169.65 171.65 159.3 168.4 161.7 169.45 187.25 179.45
Page | 75
230 220 210
Monthly wise Performance for first one Year
Price range
200 Opening values 190 180 170 160 150 High prices Low prices Closing prices 2 per. Mov. Avg. (Closing prices)
Period
Page | 76
First Five year Annual Performance of Infinite Computer solution ltd
Year
Open
High
Low
Close
2010 2011 2012 2013 2014*
178.35 192 60.65 126 132
222.9 152.75 187.25 222 166.85 135.8 169.7 56.25 60.05
60.5 124.15 76.3 122 131.6 145.4
Five year Annual Performance

230 210 190 170 150 130 110 90 70 50 2010 2011 2012 2013 2014* High prices Low prices Closing prices 2 per. Mov. Avg. (Closing prices)
Price range
Opening values
Period
Page | 77
7. Vascon Engineers Limited
Incorporated in 1986, Vascon Engineers Limited is engineering, procurement and construction services and real estate Development Company with operations in a number of states and union territories in India. Vascon have significant experience of 23 years in providing EPC services which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings. Vascon Engineers third party EPC clients include well-known Indian and multi-national companies such as Cipla Limited, Emcure Pharmaceuticals Limited, Zensar Technologies Limited, Kirloskar Brothers Limited, Symbiosis, Okasa Pharma Private Limited, PTC Software (India) Private Limited and Goa Institute of Management. They have also provided EPC services to their Subsidiaries and the Other Development Entities projects, such as Marigold, Marisoft Annex, Weikfield IT Citi Infopark, Vista and Zircon. In addition to developing and providing EPC services for real estate projects, Vascon also continue to own or operate certain projects subsequent to their completion. For example, they own the Vista do Rio, Vascon own an interest in the Galaxy Resorts in Goa, the Golden Suites service apartment complex in Pune, and Marigold Premises Private Limited, which owns and operates the Mariplex mall and office complex. Additionally they are involved in developing a multi-level car parking for Delhi International Airport.
Vascon Engineers has more than 25 years of experience, conceiving, developing, constructing and managing varied projects. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.
Right from its inception in 1986 Vascon has remained committed to applying the art or valuebased aesthetics into the science of construction through efficient engineering. The Vascon team is mainly made up of engineers who are backed up by highly qualified specialists from various fields of management. Right from planning and procurement to testing and execution, every Vascon professional
Page | 78

follows well-documented system and procedures.
Today, Vascon's achievements range from sprawling factories to premium homes, from glittering malls to towering software parks and from classy hotels to elegant schools. One simple principle guides Vascon's approach to every project: "Understand the customer's needs and exceed the expectations" This is how Vascon has been able to strike the right balance between efficient engineering and thoughtful development in project after project, across the country.
Company Promoters:
The individual promoters of the Company are: 1. R. Vasudevan; 2. Lalitha Vasudevan; 3. Thangam Moorthy; and 4. Geeta Lulla.
The corporate promoters of the Company are:

1. Vatsalya Enterprises Private Limited; 2. Premratan Exports Private Limited; and 3. Golden Temple Pharma Private Limited.

The objects of the Issue are to raise funds for 1. Construction of EPC contracts and real estate development projects; 2. Repayment of debt; 3. General corporate purposes; and 4. Achieve the benefits of listing on the Stock Exchanges.
Issue Detail:
Page | 79
PERFORMANCE OF IPO IN INDIAN MARKET Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Minimum Order Quantity: Listing At: NSE
1. Enam Securities Private Limited
Jan 27, 2010 - Jan 29, 2010 100% Book Built Issue IPO 10,800,000 Equity Shares of Rs. 10 Rs. 178.20 Crore Rs. 10 Per Equity Share Rs. 165 - Rs. 185 Per Equity Share 35 Shares 35 Shares BSE,
Book Running Lead
2. Kotak Mahindra Capital Company Limited
Manager
Vascon Engineering Ltd IPO Grading / Rating

CRISIL has assigned an IPO Grade 3 to Vascon Engineering Ltd IPO. This means as per CRISIL, company has 'Average Fundamentals'.
Vascon Engineers IPO Listing Date

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Monday, February 15, 2010 533156 VASCONEQ 'B' Group of Securities Realty INE893I01013 Rs. 165.00 Per Equity Share Rs. 10.00 Per Equity Share
Page | 80

180 BSE Issue Price: 170 Open: Low: High: 160 BSE NSE Last Trade: Volume: 150 5,951,747 9,470,462 147.2 148.05 170 144 173.45 156 145.1 171.95 165 NSE 165
Analysis and interpretation:From the above table we can analyze the first day performance of the Vascon Engineers ltd, in both the markets NSE & BSE the issue price is similar, whereas the opening price in BSE goes up with price of Rs.170 but in NSE it falls down for Rs.156. The low price, highest price and closing is the same in both the markets.
Page | 81

1%
SUBSCRIBERS QIBs NIIs
SHARES 6420000 1070000 3210000 100000
30% QIBs NIIs RIIs 59% 10% Employee Resarvation
RIIs Employee Reservation TOTAL
10800000
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Vascon Engineers Ltd companys Equity IPOs QIBs hold the major share that is 59%, whereas NIIs hold 10%, RIIs hold 30% and the companys employees reservation is only 1%.
Company :Vascon Engineers Ltd 533156 Period: Jan 2008 to Feb 2014
Feb-11 Mar-11 Apr-11
170 123.8 154.05
173.45 156.9 168
120 119 148.1
121.7 155.3 161.7
Page | 82

May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 162 143.85 141.6 143.9 169.9 167.05 165.75 142 147.5 164 151.75 151.85 196.4 186.5 180 171.5 147.5 148.8 138.1 130.05 135 138 162.7 158.75 112.35 116 110.05 140 141.4 141.6 166.7 165.85 162.3 141.4 140.65 113.55
Monthly wise Performance for first year

200 190 180 170
price range
160 150 140 130 120 110 100
Opening values High prices Low prices Closing prices 2 per. Mov. Avg. (Closing prices)
period
Page | 83
First Five years Annual Performance
Year
Open
High
Low
Close
2010 2011 2012 2013 2014*
170 147.5 37.75 66.4 23
196.4 148.8 63.5 66.65 27.35
112.35 36 34 16.2 18.1
140.65 36.55 63.5 22.95 19.6
Five yearly Annual Performance

200 180 160 140
Price range
120 100
Opeing values High prices
80 60 40 20 0 2010 2011 2012 2013 2014* Low prices Closing values 2 per. Mov. Avg. (Closing values)
period
Page | 84
Page | 85
8. Bajaj Corp Ltd
Incorporated in 2006, Bajaj Corp Ltd is one of Indias leading FMCG Company with major brands in Hair care category. Bajaj Corp Ltd is part of Shishir Bajaj Group of companies (the "Bajaj Group"). Through its subsidiaries, the Bajaj Group operates businesses in the consumer goods, sugar, power generation and infrastructure development industries throughout India. Bajaj Corp sells the Bajaj Almond Drops, Amla Shikakai, Brahmi Amla and Jasmine Hair Oil brands. Bajaj Almond Drops is the key product of the company. It also produces oral care products under the brand name Bajaj Black Tooth Powder. Bajaj manufacture their products at two company-operated facilities in Parwanoo and Dehradun. Company also expect to open a third company-operated facility at Paonta Sahib. By completing this 3,500 square meter facility in Paonta Sahib, Bajaj expect their production capacity for light hair oil to increase from 39 million liters per annum to 74 million liters per annum. In addition, they also engage third-party manufacturers at Parwanoo, Himachal Pradesh for hair oils and Udaipur, Rajasthan to produce our oral care products. These third-party facilities have a combined installed capacity of 9 million liters per annum. As of December 31, 2009, the combined production capacity for all company and third-party operated production facilities was 83 million liters per annum.
Page | 86
Company Promoters: Company's Corporate Promoter: 1. Bajaj Consumer Care Limited Company's Individual Promoters: 1. Mr. Shishir Bajaj; 2. Mrs. Minakshi Bajaj; 3. Mr. Kushagra Bajaj; and 4. Mr. Apoorv Bajaj. Company Financials: Particulars For the year/period ended (Rs. in Millions) 31-Dec-09 Total Income Profit After Tax (PAT) 2,391.97 564.97 31-Mar-09 2,520.26 469.92 31-Mar-08 0.01 (0.63)
Objects of the Issue: The object of the issue are: 1. Promote future products; 2. Acquisitions and other strategic initiatives; and 3. General Corporate Purposes.
Page | 87
Issue Detail: Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Minimum Order Quantity: Listing At: Book Running Lead Manager Bajaj Corp Ltd IPO Grading / Rating
CRISIL has assigned an IPO Grade 4 to Bajaj Corp Ltd IPO. This means as per CRISIL Company BAJAJ Corp Ltd has 'Above Average Fundamentals'.
Aug 02, 2010 - Aug 05, 2010 100% Book Built Issue IPO 4,500,000 Equity Shares of Rs. 5 Rs. 297.00 Crore Rs. 5 Per Equity Share Rs. 630 - Rs. 660 Per Equity Share 10 Shares 10 Shares BSE, NSE
1. Kotak Mahindra Capital Company Limited
Bajaj Corp IPO Listing Date

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Wednesday, August 18, 2010 533229 BAJAJCORP 'B' Group of Securities Personal Care INE933K01013 Rs. 660.00 Per Equity Share Rs. 5.00 Per Equity Share
Page | 88

820 800 780 760 740 720 700 680 Volume: 660 Issue Price: Open: Low: High: Last Trade: 3,707,538 5,863,899 BSE NSE High: Last Trade: 812 758.25 816.95 758.75 Open: Low: 730 730 760 747.65 Issue Price: BSE 660 NSE 660
Analysis and interpretation:From the above table we can analyze the first day performance of the Bajaj Corp ltd, in both the markets NSE & BSE the issue price is similar, whereas in BSE the Bajaj Corp Ltd. opening price starts from Rs.760 in BSE less than BSE where it starts at Rs.730, First day recorded Lower price in BSE is Rs.730 and in NSE is 747. Highest price and closing is almost the same in both the markets.
Subscribers
shares
QIBs
1890000
Page | 89

NIIs 450000
RIIs
1350000
Total
37% QIBs NIIs 51% RIIs
3690000
12%
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Bajaj Corp Ltd companys Equity IPOs QIBs hold the major share that is 51%, whereas NIIs hold only 12% and RIIs hold 37%.

Company :BAJAJ CORP LTD. 533229
Period: February 2010 to July 2011
Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11
730 727.95 697.3 650 558.75 534 419 510
812 757.5 730 652 588.9 542.7 544.5 550
710.1 692.9 636.05 531.1 502.3 417.1 366.5 417
726.1 695.65 648.45 549.6 541 419.85 512.35 500.45
Page | 90

Apr-11 May-11 Jun-11 Jul-11 500 565 107.75 115.25 568 584.5 119.35 130.5 491.15 101.5 103.55 112.8 561.9 105.4 117 121.2

800 700 600
Price range
500 400 300 200 100 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11
Opening values High prices Low prices Closing price 2 per. Mov. Avg. (Closing price)
Period:
First Five yearly Annual Performance
Year
Open
High
Low
Close
2010 2011
730 534
812 584.5
502.3 95.1
541 98.35
Page | 91

2012 2013 2014*
99 236 220.5 244.35 287.15 223.5 96.5 198 203.95 233.35 219.3 209.75
780 680
Opening values High prices Low prices Closing values 2 per. Mov. Avg. (Closing values) 2010 2011
Price range
580 480 380 280 180 80
Period
2012
2013
2014*
Page | 92
9. Prestige estates limited

Incorporated in 1986, Prestige Estates Projects Ltd is a Bangalore based company involve in real estate development. Prestige Estates is south Indias largest real estate development company. Company has completed 142 real estate projects of approximately 27.09 million sq. ft. Company has a diversified portfolio of real estate development projects including residential (including apartments, villas, plotted developments and integrated townships), commercial (including corporate office blocks, built-to-suit facilities, technology parks and campuses and SEZs), hospitality (including hotels, resorts and serviced accommodation) and retail (including shopping malls) segments of the real estate industry. Company has established a strong brand image, have a successful track record of execution and a diversified portfolio of real estate projects
Prestige Estates Projects Ltd. is a property development company in South India. It was founded by Razack Sattar in 1986 and is based in Bangalore, India. Prestige Group has several national and international awards in 11 various categories. Prestige has developed residential colonies and commercial space in Bangalore such as Prestige Shantiniketan, UB CityPrestige Golfshire, Prestige Angasana, Prestige Acropolis, Prestige Elgin, Prestige Greenwoods, Prestige Monte Carlo, Prestige Langleigh, Prestige Dorchester, Prestige Cedars, Prestige Opal, Prestige Meridian, Prestige Towers, Prestige Blue Chip, Prestige Sterling, The Forum and others.
Company Promoters:
The Promoters of the Company are: 1. Mr. Irfan Razack 2. Mr. Rezwan Razack 3. Mr. Noaman Razack
Page | 93
Company Financials:
Particulars For the year/period ended (in Rs. Million) 31-Mar-10 31-Mar-09 31-Mar-08 31-Mar-07 31-Mar-06 31-Mar-05 Total Income Profit After Tax (PAT) 9,161.51 707.31 9,892.65 541.63 4,271.42 390.91 4,743.31 305.34 3,816.45 346.03

The Objects of the Issue are to:
1. Finance our Ongoing Projects and Projects Under Development; 2. Invest in our existing Subsidiaries which investment will be utilized for the construction and development of our commercial Ongoing Project, retail Ongoing and retail Projects Under Development undertaken by those Subsidiaries; 3. Finance the acquisition of land; 4. Repay certain loans of our Company; and
5. General corporate purposes.

Issue Detail: Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Oct 12, 2010 - Oct 14, 2010 100% Book Built Issue IPO 65,573,770 Equity Shares of Rs. 10 Rs. 1,200.00 Crore Rs. 10 Per Equity Share Rs. 172 - Rs. 183 Per Equity Share 30 Shares
Page | 94

Minimum Order Quantity: Listing At: BSE, NSE Book Running Lead Manager 1. Enam Securities Private Limited 2. J.P. Morgan India Private Limited 3. Kotak Mahindra Capital Company Limited 30 Shares
Prestige Estates Projects Ltd IPO Grading / Rating
4. UBS Securities India Private Limited
ICRA has assigned an IPO Grade 3 to Prestige Estates Projects Ltd IPO. This grade indicates that the fundamentals of the IPO are 'Average' relative to other listed . equity securities in India.
Prestige Estates IPO Listing Date

Listing Date: BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: Wednesday, October 27, 2010 533274 PRESTIGE 'B' Group of Securities Realty INE811K01011 Rs. 183.00 Per Equity Share Rs. 10.00 Per Equity Share

BSE Issue Price: 183 NSE 183
Open:
190
190
Page | 95

Low: High: 205 Last Trade: 190 209 192.55 188.35 208.8 193.15
210
Volume: 200
15,573,821
24,480,607
195
BSE NSE
190
185
Analysis and interpretation:From the above table we can analyze the first day performance of the Prestige estates ltd, in both the markets NSE & BSE the issue price and opening price in both the market is similar. Only a slight difference in Low price where NSE falls by Rs.2 than BSE. Highest price and closing is almost the same in both the markets.
Subscribers QIBs
Share 29229071
Page | 96

NIIs RIIs
37% QIBs 51% NIIs RIIs
6959303 20877906 Total 57066280
12%
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Prestige estates projects Ltd Companys Equity IPOs QIBs hold the major share that is 51%, whereas NIIs hold 12%, RIIs hold 37%.

Company :PRESTIGE ESTATES PROJECTS LTD. 533274 Period: October 2010 to September 2011
Oct-10 Nov-10
190 200.1
209 232
188.15 149
198.3 168.45
Page | 97

Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 174.65 176 150.1 117 134.75 149 148.9 121.7 133 99 199.95 190 153 147 164.85 158.5 154.1 143 136.45 100.5 140.05 135 112.8 104 122.4 130.7 119.25 118.05 94 85 170.35 149.4 116.2 125 145.6 148.8 120.45 131.25 98.5 91.65
240 220 200
Price range
180 160
Opening values High prices
140 Low prices 120 Closing values 100 80 2 per. Mov. Avg. (Closing values)
Period
Page | 98
First Five yearly Annual Performance

Year Open High Low Close
2010 2011 2012 2013 2014*
190 176 72.5 180.8 163
232 190 191.7 194.9 165.1
140.05 57.55 67.65 105.1 135.95
170.35 70.75 179.15 162.3 136.65

235 215 195
Price range
175 155 135 115 95 75 55 2010 2011 2012 2013 2014*
Opening values High prices Low prices Closing price
Period
2 per. Mov. Avg. (Closing price)
Page | 99
10. MOIL LIMITED
Incorporate in 1896, MOIL Limited (Manganese Ore India Limited) is India based producer of manganese ore, primarily used to make ferro-alloys for steel production. MOIL is a 'Mini Ratna' PSU, owned by Government of India and under the administrative control of the Ministry of Steel. MOIL Limited is the largest producer of manganese ore by volume in India. MOIL operate seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi) to produce more than 1,093,363 tons of manganese ore. In addition to high, medium and low grade manganese ore, company produces manganese dioxide and chemical grade manganese ore. The major competitive strengths of the company are: 1. Largest producer of manganese ore in India with access to significant reserves; 2. Well positioned to capture the growth potential of the Indian steel industry; 3. Track record of growth and efficient operations; 4. Strategic location of the mines and 5. Strong capabilities for exploration, mine planning and research development. MOIL Limited (formerly Manganese Ore India Limited) is a mini ratna stateowned manganese-ore mining company headquartered in Nagpur, India. With a market share of 50%, it was the largest producer of manganese ore in India in the fiscal year 2008. MOIL Limited has been ranked #486 among the 500 top companies in India and 9th in the Mines and Metals Sector of the Fortune India 500 list for 2011. MOIL operates 10 mines, six located in Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. Of the 10, seven are underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three are opencast mines (Dongri Buzurg, Sitapatore, and Tirodi). Its Balaghat mine is the deepest underground manganese mine in Asia.
Page | 100
PERFORMANCE OF IPO IN INDIAN MARKET In December 2010, the government divested about 20% of its equity through an IPO. Of the 20%, the Government of India's share will be 10%, and the governments of Maharashtra and Madhya Pradesh will each divest 5% of the total equity. At present, the Government of India holds 81.57% share in the company, Maharashtra government has 9.62%, and Madhya Pradesh Government holds 8.81%.
Company Promoters: The promoters of the company is the President of India, acting through the MoS, Government of India (GoI). Present paid-up Equity Share capital of GoI - 81.6% Post-Offer paid-up Equity Share capital of GoI - 71.6%
Company Financials:
Particulars 31-Mar-10 Total Income Profit After Tax (PAT) 10,878.53 4,663.46 For the year/period ended (in Rs. Millions) 31-Mar-09 14,394.09 6,637.93 31-Mar-08 10,154.48 4,798.15 31-Mar-07 4,167.41 1,342.09 31-Mar-06 3,637.37 1,145.17

The objects of the Offer are:1. To carry out the disinvestment of 33,600,000 Equity Shares by the Selling Shareholders and 2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Page | 101
Issue Detail:
Issue Open: Issue Type: Issue Size: Issue Size: Face Value: Issue Price: Market Lot: Minimum Order Quantity: Listing At: Nov 26, 2010 - Dec 01, 2010 100% Book Built Issue IPO 33,600,000 Equity Shares of Rs. 10 Rs. 1,237.51 Crore Rs. 10 Per Equity Share Rs. 340 - Rs. 375 Per Equity Share 17 Shares 17 Shares BSE, NSE
1. Edelweiss Capital Limited
Book Running Lead Manager
2. IDBI Capital Market Services Limited 3. J.P. Morgan India Private Limited
Maximum Subscription Amount for Retail Investor: Rs. 2, 00,000 MOIL Limited IPO Grading / Rating CARE has assigned an IPO Grade 5 to MOIL Limited IPO. This means as per CARE Company has 'Strong fundamentals'.
Page | 102
MOIL IPO Listing Date

Listing Date: Wednesday, December 15, 2010 BSE Scrip Code: NSE Symbol: Listing In: Sector: ISIN: Issue Price: Face Value: 533286 MOIL 'B' Group of Securities Mining - Minerals INE490G01020 Rs. 375.00 Per Equity Share Rs. 10.00 Per Equity Share
Chart Title
625
BSE Issue Price: 375
NSE 375
575
Open: Low:
551 458.5 591.05 466.5
565 456.65 590 465.05
525
High: Last Trade:
475
425
Volume: 31,568,413 65,132,435
375 Issue Price: Open: BSE Low: NSE High: Last Trade:
Analysis and interpretation:From the above table we can analyze the first day performance of the MOIL ltd , a well know Government companys first days in both the markets NSE & BSE the issue price is similar. Only a slight increase in opening price i.e... BSEs opening price is Rs.551 and in NSEs is 565. Rest Low price, highest price and closing is almost the same in both the markets.
Page | 103
2%
Subscribers QIBs NIIs
Share 16464000 4939200 11524800 672000
34% 49%
QIBs NIIs RIIs Employee Reservation 15%
RIIs Employee Reservation Total
33600000
From above Pie chart we can understand the percentage of subscription made by QIBs, NIIs, RIIs and employees reservation. In Moil Ltd companys Equity IPOs QIBs hold the major share that is 49%, whereas NIIs hold 15%, RIIs hold 34% and the companys employees reservation is 2%.
Monthly wise Performance for First One Year Company :MOIL LTD. 533286 Period: December 2010 to November 2011
All Prices in
Page | 104

Month Open High Low Close
Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11
551 451 413 395.6 397 384.3 370 333 350 303 278 255.05
591.05 460.5 424.4 412 417.45 384.7 371.75 374.6 350 312 280.75 256.2
367.35 394.55 386.35 375.55 379.5 348 320.5 333 295 279.55 244.75 222
449.85 409.6 394.8 394.55 381.5 365.9 334.1 346.25 302.05 280.75 256.95 231.15
Montly wise Performance for First One Year

600 550 500 450 opening values 400 350 300 250 200 high prices Low prices Closing values 2 per. Mov. Avg. (Closing values)
price range
Period
Page | 105
Year
Open
High
Low
Close
2010 2011 2012 2013 2014
551 451 229.95 268 241
591.05 460.5 296.4 274.9 241.95
367.35 217.35 226.3 182.35 214.25
449.85 227.75 264.65 239.9 215.95
Page | 106

700 600 500
Price range
400 300 200 100 0 2010 2011 2012 2013 2014
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CHAPTER 1 IPO's Performance Including Monthly

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CHAPTER 1 IPO's Performance Including Monthly

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PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Why may a Company need an IPO?

another firm, etc.;

PERFORMANCE OF IPO IN INDIAN MARKET

What are the two sides of IPO coin?

PERFORMANCE OF IPO IN INDIAN MARKET

How is the coin made to balance (Controls)?

RBI regulations in case of foreign.

Who can Toss the IPO Coin?

Eligibility Criteria for Public Issuance of Securities

PERFORMANCE OF IPO IN INDIAN MARKET

Fixed Price or Book building (no minimum allocation to QIBs)

Only Book building, with compulsory allocation of at least 50% to QIBs Or

PERFORMANCE OF IPO IN INDIAN MARKET

Preparing for IPO Regulatory:

Board to reflect shareholders

Company would have to ramp up Secretarial and Compliance teams

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Start drafting the prospectus. Coordinate the collection of data to

minimize duplicative efforts.

Finalize historical financial statements. Start preparing interim (stub)

financial statements for current period.

pro forma and interim financial statements. Make revisions to

Convene new board of directors. Audit of interim financials should be

auditors opinion is issued. Membership with stock exchange is

prospectus with SEC (Securities Exchange Commission). Issue press

PERFORMANCE OF IPO IN INDIAN MARKET

Ideal IPO Process:

The Procedure for the Issue of an IPO:

Preparing for IPO.

PERFORMANCE OF IPO IN INDIAN MARKET

Business overview. Management discussion. Statutory disclosures.

Meeting with institutional investors. Research briefings. Corporate publicity.

PERFORMANCE OF IPO IN INDIAN MARKET

File with SEBI. Road shows.

PERFORMANCE OF IPO IN INDIAN MARKET

IPO MARKET IN INDIA:

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Statement of problem Scope of the study Objective of study

Selection of Sample Significance of study

Title of the study:-

PERFORMANCE OF IPO IN INDIAN MARKET

Scope of the study:

Objective of study: Main:

To know profit potential of IPOs after long period of time.

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Tools & techniques:

Moving Average Method Average Returns

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Tools which are used may have certain militate.

PERFORMANCE OF IPO IN INDIAN MARKET

VENTURE FUNDING INVESTMENT CONSULTANCY SIVAN SECURITIES

PERFORMANCE OF IPO IN INDIAN MARKET

PERFORMANCE OF IPO IN INDIAN MARKET

Ketan Sheth - Director (Research)