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Listing of Securities 3
32
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3Listing of Securities
The stocks, bonds and other securities issued by issuers require listing for providing liquidity to investors. Listing means formal admission of a security to the trading platform of the Exchange. It provides liquidity to investors without compromising the need of the issuer for capital and ensures effective monitoring of conduct of the issuer and trading of the securities in the interest of investors. The issuer wishing to have trading privileges for its securities satisfies listing requirements prescribed in the relevant statutes and in the listing regulations of the Exchange. It also agrees to pay the listing fees and comply with listing requirements on a continuous basis. All the issuers who list their securities have to satisfy the corporate governance requirement framed by regulators.
Benefits of Listing on NSE
The benefits of listing on NSE are as enumerated below:
• NSE provides a trading platform that extends across the length and breadth of the country. Listing on NSE thus, enables issuers to reach and service investors across the country.
• NSE being the largest stock exchange in terms of trading volumes, the securities trade at low impact cost and are highly liquid. This in turn reduces the cost of trading to the investor.
• The trading system of NSE provides unparallel level of trade and post-trade information. The best 5 buy and sell orders are displayed on the trading system and the total number of securities available for buying and selling is also displayed. This helps the investor to know the depth of the market. Further, corporate announcements, results, corporate actions etc are also available on the trading system, thus reducing scope for price manipulation or misuse.
• The facility of making initial public offers (IPOs), using NSE's network and software, results in significant reduction in cost and time of issues.
• NSE’s web-site www.nseindia.com provides a link to the web-sites of the companies that are listed on NSE, so that visitors interested in any company can visit that company’s web-site from the NSE site.
• Listed companies are provided with monthly trade statistics of the securities of the company listed on the Exchange.
• The listing fee is nominal.
Listing Criteria
The Exchange has laid down criteria for listing of new issues by companies through IPOs, companies listed on other exchanges, etc. in conformity with the Securities
34
Contracts (Regulation) Rules, 1957, SEBI Guidelines and other relevant guidelines/acts. The criteria include minimum paid-up capital and market capitalisation, company/promoter's track record, etc. The listing criteria for companies in the CM Segment are presented in Table 3-1. The issuers of securities are required to adhere to provisions of the Securities Contracts (Regulation) Act, 1956, the Companies Act, 1956, the Securities and Exchange Board of India Act, 1992, and the rules, circulars, notifications, guidelines, etc. prescribed there under.
Listing Agreement
All companies seeking listing of their securities on the Exchange are required to enter into a formal listing agreement with the Exchange. The agreement specifies all the quantitative and qualitative requirements to be continuously complied with by the issuer for continued listing. The Exchange monitors such compliance and companies who do not comply with the provisions of the listing agreement may be suspended from trading on the Exchange. The agreement is being increasingly used as a means to improve corporate governance.
Compliance by Listed Companies
NSE has institutionalised a process of verifying compliance of various conditions of the listing agreement. It conducts a periodic review for compliance on account of announcement of book closure/record date, announcement of quarterly results, submission of shareholding pattern, annual reports, appointment of compliance officer, corporate governance report, investor grievances and various disclosures etc.
Disclosures by Listed Companies
It is essential that all critical price sensitive/material information relating to securities is made available to the market participants and the investors immediately to enable them to take informed decisions in respect of their investments in securities. The Exchange therefore ensures certain important timely disclosures by listed companies and disseminates them to market through the NEAT terminals and through its website. These disclosures include corporate actions, quarterly/half yearly results, decisions at board meeting, non-promoters’ holding, announcements / press releases etc.
De-listing
There are two kinds of delisting which can be done from the Exchanges as per the SEBI (Delisting of Securities) Guidelines, 2003 in the following manner:
Voluntary De-listing of Companies
Any promoter or acquirer desirous of delisting securities of the company under the provisions of these guidelines are required obtain the prior approval of shareholders of the company by a special resolution passed at its general meeting, make a public announcement in the manner provided in these guidelines, make an application to
35
the delisting exchange in the form specified by the exchange, and comply with such other additional conditions as may be specified by the concerned stock exchanges from where securities are to be de-listed. Any promoter of a company which desires to de-list from the stock exchange should also determine an exit price for delisting of securities in accordance with the book building process as stated in the guidelines. The stock exchanges shall provide the infrastructure facility for display of the price at the terminal of the trading members to enable the investors to access the price on the screen to bring transparency to the delisting process.
Compulsory De-listing of Companies
The stock exchanges may de-list companies which have been suspended for a minimum period of six months for non-compliance with the listing agreement. The stock exchanges have to give adequate and wide public notice through newspapers and also give a show cause notice to a company. The exchange shall provide a time period of 15 days within which representation may be made to the exchange by any person who may be aggrieved by the proposed delisting.
The Stock Exchanges may, after consideration of the representation received from the aggrieved persons, delist the securities of such companies. The stock exchange shall ensure that adequate and wide public notice is given through newspaper and on the notice boards/trading systems of the stock exchanges and shall ensure disclosure in all such notices of the fair value of such securities. The stock exchange shall display the name of such company on its website. Where the securities of the company are de-listed by an exchange, the promoter of the company shall be liable to compensate the security holders of the company by paying them the fair value of the securities held by them and acquiring their securities, subject to their option to remain security-holders with the company. The companies delisted during 2008-09 are mentioned in the table below.
Sr. No. Name of the Company Date of Delisting
1 Bosch Chassis Systems India Limited 7-Nov-08
2 Pentamedia Graphics Limited 09-Jan-09
3 Pentasoft Technologies Limited 09-Jan-09
CM Segment
Two categories, namely ‘listed’ and ‘permitted to trade’ categories of securities (equity shares, preference shares and debentures) are available for trading in the CM segment. However, the permitted to trade category has been phased out gradually and no new company is been given the benefit of this category. At the end of March 2009, 1,432 companies were listed while 1,291 companies available for trading. These securities had a market capitalisation of Rs. 2,896,194 crore (US $ 568,439 million). The growth of securities available for trading on the CM segment is presented in Table 3-2.
36
Listing Fees
The listing fees charged by the Exchange are presented in the following table:
Listing Fees in the CM Segment
Sr. No. Listing FeesAmount
(Rs.)1 Initial Listing Fees 25,000
2 Annual Listing Fees (based on paid up share, bond and/ or debenture and/or debt capital, etc.)
a) Upto Rs. 1 Crore 10,000
b) Above Rs. 1 Crore and upto Rs.5 Crores 15,000
c) Above Rs. 5 Crore and upto Rs.10 Crores 25,000
d) Above Rs. 10 Crore and upto Rs.20 Crores 45,000
e) Above Rs. 20 Crore and upto Rs.30 Crores 70,000
f) Above Rs. 30 Crore and upto Rs.40 Crores 75,000
g) Above Rs. 40 Crore and upto Rs.50 Crores 80,000
h) Above Rs. 50 Crores and upto Rs.100 Crores 1,30,000
i) Above Rs. 100 Crore and upto Rs.150 Crores 1,50,000
j) Above Rs. 150 Crore and upto Rs.200 Crores 1,80,000
k) Above Rs. 200 Crore and upto Rs.250 Crores 2,05,000
l) Above Rs. 250 Crore and upto Rs.300 Crores 2,30,000
m) Above Rs. 300 Crore and upto Rs.350 Crores 2,55,000
n) Above Rs. 350 Crore and upto Rs.400 Crores 2,80,000
o) Above Rs. 400 Crore and upto Rs.450 Crores 3,25,000
p) Above Rs. 450 Crore and upto Rs.500 Crores 3,75,000
Companies which have a paid up share, bond and/ or debenture and/or debt capital, etc. of more than Rs.500 crores will have to pay minimum fees of Rs.3,75,000 and an additional listing fees of Rs.2,500 for every increase of Rs.5 crores or part thereof in the paid up share, bond and/ or debenture and/or debt capital, etc.
Companies which have a paid up share, bond and/ or debenture and/or debt capital, etc. of more than Rs.1,000 crores will have to pay minimum fees of Rs.6,30,000 and an additional listing fees of Rs.2,750 for every increase of Rs.5 crores or part thereof in the paid up share, bond and/ or debenture and/or debt capital, etc.
Shareholding Pattern
In the interest of transparency, the issuers are required to disclose shareholding pattern on a quarterly basis. Table 3-3 presents the sector-wise shareholding pattern at end-March 2009 of companies listed on NSE. On an average, the promoters hold more than 57.86%
37
of total shares. Though the public shareholding is nearly 40.49 %, Indian public held only 13.29% and the institutional holdings by (Financial Institutions, Banks, Central and State governments, Insurance companies , FIIs , MFs, VCF’s and FVCF’s) accounted for 17.34 %.
WDM Segment
In the WDM segment, all government securities, state development loans and treasury bills are ‘deemed’ listed as and when they are issued. Other than those mentioned above, all eligible debt securities whether publicly issued or privately placed can be made available for trading in the WDM segment. Amongst other requirements, privately placed debt paper of banks, institutions and corporates require an investment grade credit rating to be eligible for listing. The listing requirements for securities on the WDM segment are presented in Table 3-4.
The growth of securities available for trading on the WDM segment is presented in Table 3-5. As at end March 2009, 3,954 securities with issued capital of Rs. 2,848,315 crore (US $ 559,041 million) and a market capitalisation of Rs.2,848,315 crore (US $ 559,041 million) were available for trading on the WDM segment.
FUNDS MOBILISATION ON THE EXCHANGE
During the year 2008-09, the resources raised through Public Issues, Rights Issues, QIP and Preferential Allotments is summarized in the table below.
Particulars No. of Issues Amount Mobilised
(Rs. Cr.) (US $ mn.)
Public Issues 19 3,833.48 752.40
IPOs 19 3,833.48 752.40
FPOs – – –
Rights Issues 17 31,656.37 6,213.22
QIP 2 188.82 37.06
Preferential Allotment 168 40,607.80 7,970.13
Total 206 76,286.46 14,972.81
Initial Public Offerings (IPO’s)
During the year 2008-09, 19 companies were listed through IPO mobilizing an amount of Rs 3,833 crore (US $ 752.40 million). Tata Capital Ltd. came out with an IPO for non-convertible Debentures (NCD) mobilizing Rs. 1,500 crore (US $ 294.41 million) which was the third largest IPO. KSK Energy Ventures Limited was the largest IPO raising Rs. 830.66 crore (US $ 163.04 million) followed by Gammon Infrastructure Projects Limited raising Rs. 276.39 crore (US $ 54.25 million) The details of IPOs listed on NSE during 2008-09 is presented in Table 3-6.
38
RIGHTS ISSUES
There were 17 Rights issues during 2008-09, out of which State Bank of India was the largest in terms of issue size of Rs.16,722.27 crore (US $ 3,282.09 million). The details of Rights Issues listed on NSE during 2008-09 is presented in Table 3-7.
PREFERENTIAL ALLOTMENT/PRIVATE PLACEMENT
During 2008-09, there were 169 preferential allotments that raised Rs.40,607.80 crore (US $ 7,970.13 million). The details of Preferential Allotment listed on NSE during 2008-09 are presented in Table 3-8.
QIPs
The amount raised through 2 QIPs during 2008-09, was Rs.188.82 crore (US $ 37.06 million).The details of QIPs are presented in Table 3-9.
Chart 3-1 : Number of Companies Listed
39
Table 3-1 : Listing Criteria for Companies on the CM Segment of NSE
Criteria Initial Public Offerings (IPOs) Companies listed on other exchanges
Paid-up EquityCapital (PUEC)/Market Capitalisation(MC) /Net Worth
PUEC ≥ Rs. 10 cr. and MC ≥ Rs. 25 cr.
PUEC ≥ Rs. 10 cr. and MC ≥ Rs. 25 cr. OR PUEC ≥ Rs. 25 cr. ORMC ≥ Rs. 50 cr. OR The company shall have a net worth of not less than Rs.50 crores in each of the preceding financial years.
Company/Promoter’s Track Record
Atleast 3 years track record of eithera) the applicant seeking listing OR b) the promoters/promoting
company incorporated in or outside India OR
c) Partnership firm and subsequently converted into Company not in existence as a Company for three years) and approaches the Exchange for listing. The Company subsequently formed would be considered for listing only on fulfillment of conditions stipulated by SEBI in this regard.
Atleast three years track record of eithera) the applicant seeking listing; ORb) the promoters/promoting company,
incorporated in or outside India.
Dividend Record / Net worth / Distributable Profits
– Dividend paid in at least 2 out of the last 3 financial years immediately preceding the year in which the application has been made OR The networth of the applicants atleast Rs.50 crores OR The applicant has distributable profits in at least two out of the last three financial years.
Listing – Listed on any other stock exchange for at least last three years OR listed on the exchange having nationwide trading terminals for at least one year.
Other Requirements (a) No disciplinary action by other stock exchanges/regulatory authority in past 3 yrs.
(b) Satisfactory redressal mechanism for investor grievances,
(c) distribution of shareholding (d) details of litigation record in past
3 years(e) Track record of Directors of the
Company
(a) No disciplinary action by other stock exchanges/regulatory authority in past 3 yrs.
(b) Satisfactory redressal mechanism for investor grievances,
(c ) distribution of shareholding and (d) details of litigation record in past
3 years.(e) Track record of Directors of the
Company(f) Change in control of a Company/
Utilisation of funds raised from public
40
Note:
1. (a) In case of IPOs, Paid up Equity Capital means post issue paid up equity capital.
(b) In case of Existing companies listed on other exchanges, the existing paid up equity capital as well as the paid up equity capital after the proposed issue for which listing is sought shall be taken into account.
2. (a) In case of IPOs, market capitalisation is the product of the issue price and the post-issue number of equity shares.
(b) In case of case of Existing companies listed on other stock exchanges the market capitalisation shall be calculated by using a 12 month moving average of the market capitalisation over a period of six months immediately preceding the date of application. For the purpose of calculating the market capitalisation over a 12 month period, the average of the weekly high and low of the closing prices of the shares as quoted on the National Stock Exchange during the last twelve months and if the shares are not traded on the National Stock Exchange such average price on any of the recognised Stock Exchanges where those shares are frequently traded shall be taken into account while determining market capitalisation after making necessary adjustments for Corporate Action such as Rights / Bonus Issue/Split.
3. In case of Existing companies listed on other stock exchanges, the requirement of Rs.25 crores market capital shall not be applicable to listing of securities issued by Government Companies, Public Sector Undertakings, Financial Institutions, Nationalised Banks, Statutory Corporations and Banking Companies who are otherwise bound to adhere to all the relevant statutes, guidelines, circulars, clarifications etc. that may be issued by various regulatory authorities from time to time
4. Net worth means paid-up equity capital + reserves excluding revaluation reserve - miscellaneous expenses not written off - negative balance in profit and loss account to the extent not set off.
5. Promoters mean one or more persons with minimum 3 years of experience of each of them in the same line of business and shall be holding at least 20 % of the post issue equity share capital individually or severally.
6. In case a company approaches the Exchange for listing within six months of an IPO, the securities may be considered as eligible for listing if they were otherwise eligible for listing at the time of the IPO. If the company approaches the Exchange for listing after six months of an IPO, the norms for existing listed companies may be applied and market capitalisation be computed based on the period from the IPO to the time of listing.
41
Table 3-2 : Companies Listed,Permitted to Trade, Available for Trading on the CM Segment
Month/Year (end of period)
No. of Companies
Listed*
No. of Companies
Permitted to Trade
No. of Companies
Available for Trading *@
Market Capitalisation *
(Rs. crore) (US $ mn)
Nov-94 0 300 300 292,637 93,108
Mar-95 135 543 678 363,350 115,606
Mar-96 422 847 1,269 401,459 116,873
Mar-97 550 934 1,484 419,367 116,880
Mar-98 612 745 1,357 481,503 121,807
Mar-99 648 609 1,254 491,175 115,761
Mar-00 720 479 1,152 1,020,426 240,496
Mar-01 785 320 1,029 657,847 141,048
Mar-02 793 197 890 636,861 130,504
Mar-03 818 107 788 537,133 113,081
Mar-04 909 18 787 1,120,976 258,349
Mar-05 970 1 839 1,585,585 362,419
Mar-06 1,069 – 929 2,813,201 630,621
Mar-07 1,228 – 1,084 3,367,350 772,505
Apr-07 1,246 – 1,104 3,650,368 913,277
May-07 1,267 – 1,126 3,898,078 975,251
Jun-07 1,283 – 1,143 3,978,381 995,342
Jul-07 1,293 – 1,150 4,317,571 1,080,203
Aug-07 1,316 – 1,170 4,296,994 1,075,055
Sep-07 1,319 – 1,173 4,886,561 1,222,557
Oct-07 1,327 – 1,180 5,722,227 1,431,630
Nov-07 1,343 – 1,197 5,876,742 1,470,288
Dec-07 1,353 – 1,207 6,543,272 1,637,046
Jan-08 1,362 – 1,216 5,295,387 1,324,840
Feb-08 1,372 – 1,227 5,419,942 1,356,003
Mar-08 1,381 – 1,236 4,858,122 1,215,442
Apr-08 1,390 – 1,244 5,442,780 1,068,259
May-08 1,398 – 1,252 5,098,873 1,000,760
Jun-08 1,407 – 1,262 4,103,651 805,427
Jul-08 1,417 – 1,272 4,432,427 869,956
Aug-08 1,422 – 1,278 4,472,461 877,814
Sep-08 1,424 – 1,278 3,900,185 765,493
Oct-08 1,431 – 1,282 2,820,388 553,560
Nov-08 1,430 – 1,286 2,653,281 520,762
Dec-08 1,428 – 1,283 2,916,768 572,477
Jan-09 1,427 – 1,286 2,798,707 549,305
Feb-09 1,425 – 1,284 2,675,622 525,147
Mar-09 1,432 – 1,291 2,896,194 568,439 * At the end of the period @ Excludes suspended companies.
42
Tab
le 3
-3 :
Sha
reho
ldin
g P
atte
rn a
t the
end
of M
arch
200
9 of
com
pani
es L
iste
d on
NSE
(In p
er c
ent)
Sect
ors
Pro
mot
ers
Pub
licSh
ares
hel
d by
C
usto
dian
s a
nd a
gain
st
whi
ch
Dep
osit
ory
Rec
eipt
s ha
ve b
een
issu
ed
Inst
itut
iona
lN
on- I
nsti
tuti
onal
Indi
an
Pro
mot
ers
For
eign
P
rom
oter
sF
inan
cial
In
stit
utio
ns/
Ban
ks/C
entr
al
Gov
ernm
ent/
Stat
e G
over
nmen
t(s)
/In
sura
nce
Com
pani
es
For
eign
In
stit
utio
nal
Inve
stor
s
Mut
ual
Fun
dsV
entu
re
Cap
ital
F
unds
incl
udin
g F
orei
gn
Ven
ture
C
apit
al
Fun
ds
Any
oth
erB
odie
s C
orpo
rate
Indi
vidu
als
Any
Oth
er
Bank
s46
.34
1.08
9.54
14.2
73.
830.
000.
635.
6413
.59
1.05
4.02
Engi
neer
ing
26.3
91.
9510
.92
7.34
11.5
70.
000.
759.
0522
.49
8.37
1.17
Fina
nce
43.6
32.
108.
5813
.01
2.92
0.03
1.61
6.22
15.8
55.
380.
66
FMC
G
18.1
916
.08
12.8
112
.72
8.11
0.00
0.00
4.91
13.2
313
.54
0.42
Info
rmat
ion
Tec
hnol
ogy
39.2
27.
862.
3212
.44
2.17
0.39
0.22
7.88
17.8
66.
712.
94
Infr
astr
uctu
re
73.9
11.
543.
327.
312.
110.
030.
023.
676.
661.
220.
20
Man
ufac
turi
ng
48.1
89.
126.
637.
283.
120.
050.
266.
4315
.16
2.33
1.44
Med
ia &
Ent
erta
inm
ent
48.3
84.
862.
7711
.42
5.72
0.26
0.00
8.48
14.9
31.
911.
28
Petr
oche
mic
als
56.5
37.
774.
384.
772.
110.
000.
265.
7111
.61
2.55
4.31
Phar
mac
eutic
als
39.3
212
.96
4.90
7.88
3.51
0.19
0.06
6.93
19.5
73.
561.
11
Serv
ices
44
.14
13.8
65.
438.
393.
300.
200.
006.
9913
.38
3.42
0.88
Tel
ecom
mun
icat
ion
53.8
98.
064.
656.
851.
730.
000.
033.
599.
9310
.27
0.98
Misc
ella
neou
s45
.02
2.59
2.14
8.39
2.95
0.00
0.11
9.32
22.3
76.
520.
59
Num
ber
of S
hare
s97
,388
,396
,771
13
,366
,653
,976
1
1,06
8,48
3,43
3 16
,087
,186
,434
5,
924,
758,
415
117
,438
,911
501
,700
,319
11,
102,
308,
040
25,4
37,7
50,9
95
7,25
5,11
7,32
4 3,
154,
419,
003
% to
Tot
al N
umbe
r of
Sha
res
50.8
86.
985.
788.
403.
100.
060.
265.
8013
.29
3.79
1.65
43
Table 3-4 : Eligibility Criteria for Securities on WDM Segment
Issuer Eligibility Criteria for listing
Public Issue /Private Placement
Corporates (Public limited companies and Private limited companies)
• Paid-up capital of Rs.10 crores; or• Market capitalisation of Rs.25 crores (In case of unlisted companies Networth more than Rs.25 crores)• Credit rating
Public Sector Undertaking, Statutory Corporation established/ constituted under Special Act of Parliament /State Legislature, Local bodies/authorities,
• Credit rating
Mutual Funds:Units of any SEBI registered Mutual Fund/scheme :• Investment objective to invest
predominantly in debt or• Scheme is traded in secondary
market as debt instrument
• Qualifies for listing under SEBI’s Regulations
Infrastructure companies• Tax exemption and
recognition as infrastructure company under related statutes/regulations
• Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
• Credit rating
Financial Institutions u/s. 4A of Companies Act, 1956 including Industrial Development Corporations
Public Issue Private Placement
Qualifies for listing under the respective Acts, Rules or Regulations under which the securities are issued.
Credit rating
Banks • Scheduled banks • Networth of Rs.50 crores or
above• Qualifies for listing under
the respective Acts, Rules or Regulations under which the securities are issued.
• Scheduled Banks• Networth of Rs.50 crores or
above• Credit rating
44
Table 3-5 : Securities Available for Trading on WDM Segment (as on March 31)
Securities 2008 2009
Number Amount Amount Number Amount Amount
(Rs.cr) (US $ mn) (Rs.cr) (US $ mn)
Government Securities 1,336 1,682,607 420,968 1,391 2,272,333 445,993
T-Bills 52 113,947 28,508 52 147,617 28,973
PSU Bonds 777 97,282 24,339 783 129,499 25,417
Institutional Bonds 262 32,419 8,111 263 57,628 11,311
Bank Bonds 396 99,615 24,922 459 132,662 26,038
Corporate Bonds 738 76,489 19,136 1,000 107,782 21,154
Others 5 723 181 6 795 156
Total 3,566 2,103,082 526,165 3,954 2,848,315 559,041
45
Tab
le 3
-6 :
Initi
al P
ublic
Offe
ring
s (IP
Os)
duri
ng 2
008-
09
Sr.
No.
Com
pany
Nam
eSe
ctor
Issu
e siz
e D
ate
of
List
ing
No.
of
Secu
ritie
s iss
ued
Issu
e Pr
ice
Clo
se
Pric
e on
fir
st d
ayof
trad
ing
Clo
se P
rice
at
end
of
Mar
ch 2
009
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
on th
e fir
st d
ay o
f tra
ding
with
the
issu
e pr
ice
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
at e
nd M
arch
20
09w
ith th
e iss
ue p
rice
(Rs.c
r)(R
s.)(%
)
1G
amm
on In
fras
truc
ture
Pro
jects
Lim
ited
Infr
astr
uctu
re27
6.39
3-A
pr-0
816
,550
,000
16
7.00
158.
15
52.0
0 (5
.30)
(68.
86)
2Si
ta S
hree
Foo
d Pr
oduc
ts Li
mite
dM
anuf
actu
ring
31.5
07-
Apr
-08
10,5
00,0
00
30.0
043
.70
5.65
45
.67
(81.
17)
3Ti
taga
rh W
agon
s Lim
ited
Man
ufac
turin
g12
8.72
21-A
pr-0
82,
383,
768
540.
0070
6.85
14
1.70
30
.90
(73.
76)
4K
iri D
yes a
nd C
hem
ical
s Lim
ited
Man
ufac
turin
g56
.25
22-A
pr-0
83,
750,
053
150.
0015
8.95
12
9.25
5.
97
(13.
83)
5G
okul
Ref
oils
and
Solv
ent L
imite
dM
anuf
actu
ring
139.
594-
Jun-
087,
158,
392
195.
0018
2.05
20
5.85
(6
.64)
5.56
6Se
jal A
rchi
tect
ural
Gla
ss L
imite
dM
anuf
actu
ring
105.
731-
Jul-0
89,
194,
155
115.
0081
.25
22.9
0 (2
9.35
)(8
0.09
)
7A
rchi
dply
Indu
strie
s Lim
ited
Man
ufac
turin
g48
.96
4-Ju
l-08
6,61
5,72
0 74
.00
50.7
0 13
.55
(31.
49)
(81.
69)
8Fi
rst W
inne
r Ind
ustr
ies L
imite
dM
anuf
actu
ring
68.7
58-
Jul-0
85,
500,
043
125.
0089
.20
12.6
0 (2
8.64
)(8
9.92
)
9Lo
tus E
ye C
are H
ospi
tal L
imite
dSe
rvic
es38
.00
11-Ju
l-08
10,0
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00
38.0
035
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28.0
5 (6
.18)
(26.
18)
10K
SK E
nerg
y V
entu
res L
imite
dIn
fras
truc
ture
830.
6614
-Jul-0
834
,611
,000
24
0.00
191.
75
189.
55
(20.
10)
(21.
02)
11Bi
rla C
otsy
n (In
dia)
Lim
ited
Man
ufac
turin
g14
4.18
30-Ju
l-08
102,
982,
730
14.0
09.
45
3.45
(3
2.50
)(7
5.36
)
12V
ishal
Info
rmat
ion
Tech
nolo
gies
Lim
ited
Serv
ices
41.8
611
-Aug
-08
2,79
0,82
9 15
0.00
194.
60
35.8
0 29
.73
(76.
13)
13N
u Te
k In
dia L
imite
dTe
leco
mm
unic
atio
n86
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27-A
ug-0
84,
500,
000
192.
0019
9.15
29
.35
3.72
(8
4.71
)
14R
esur
gere
Min
es &
Min
eral
s Ind
ia L
imite
dM
anuf
actu
ring
120.
151-
Sep-
084,
450,
000
270.
0053
3.55
45
.25
97.6
1 (8
3.24
)
15A
ustr
al C
oke &
Pro
jects
Lim
ited
Man
ufac
turin
g14
2.30
4-Se
p-08
7,26
0,00
0 19
6.00
225.
95
225.
10
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8 14
.85 Con
td...
46
Sr.
No.
Com
pany
Nam
eSe
ctor
Issu
e siz
e D
ate
of
List
ing
No.
of
Secu
ritie
s iss
ued
Issu
e Pr
ice
Clo
se
Pric
e on
fir
st d
ayof
trad
ing
Clo
se P
rice
at
end
of
Mar
ch 2
009
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
on th
e fir
st d
ay o
f tra
ding
with
the
issu
e pr
ice
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
at e
nd M
arch
20
09w
ith th
e iss
ue p
rice
(Rs.c
r)(R
s.)(%
)
1620
Mic
rons
Lim
ited
Man
ufac
turin
g23
.93
6-O
ct-0
84,
351,
251
55.0
033
.65
15.1
0 (3
8.82
)(7
2.55
)
17A
lkal
i Met
als L
imite
dM
anuf
actu
ring
26.2
76-
Nov
-08
2,55
0,00
0 10
3.00
173.
40
234.
30
68.3
5 12
7.48
18Ed
serv
Sof
tsyste
ms L
imite
dSe
rvic
es23
.84
2-M
ar-0
93,
973,
908
60.0
013
7.70
19
.55
129.
50
(67.
42)
Initi
al P
ublic
Offe
ring
s (IP
Os)
of N
on-c
onve
rtib
le D
eben
ture
s (N
CD
s) du
ring
200
8-09
Sr.
No.
Com
pany
Nam
e &
Ser
ies
Sect
orIs
sue
size
Dat
e of
Li
stin
gN
o. o
f Se
curi
ties
issue
d
Issu
e Pr
ice
Clo
se
Pric
e on
fir
st d
ayof
trad
ing
Clo
se P
rice
at
end
of
Mar
ch 2
008
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
on th
e fir
st d
ay o
f tra
ding
Pric
e A
ppre
ciat
ion/
D
epre
ciat
ion
at e
nd M
arch
20
08
(Rs.c
r)(R
s.)(R
s.)(R
s.)(%
)(%
)
1Ta
ta C
apita
l Lim
ited-
N1
FIN
AN
CE
61.7
117
-Mar
-09
6,17
110
0,00
0.00
102,
010.
66
108,
000.
00
2.01
8.
00
Tata
Cap
ital L
imite
d-N
216
2.59
17-M
ar-0
91,
625,
906
1,00
0.00
1,03
2.44
1,
074.
00
3.24
7.
40
Tata
Cap
ital L
imite
d- N
374
5.74
17-M
ar-0
97,
457,
427
1,00
0.00
1,03
7.45
1,
074.
94
3.75
7.
49
Tata
Cap
ital L
imite
d-N
452
9.96
17-M
ar-0
95,
299,
567
1,00
0.00
1,02
0.68
1,
087.
50
2.07
8.
75
Con
td...
47
Table 3-7 : Rights Issues during 2008-09
S. No. Company Name Amount Mobilised
(Rs. Crore)
Amount Mobilised (US $ mn)
Date of Listing
1 State Bank Of India 16,722.27 3,282.09 7-Apr-2008
2 The Dhanalakshmi Bank Ltd. 198.76 39.01 8-May-2008
3 Network 18 Fincap Limited 102.96 20.21 22-May-2008
4 Godrej Consumer Products Limited 396.46 77.81 27-May-2008
5 The Indian Hotels Company Limited 843.88 165.63 30-May-2008
6 The Indian Hotels Company Limited 602.79 118.31 2-Jun-2008
7 Century Extrusions Limited 13.20 2.59 11-Aug-2008
8 Entegra Limited 127.15 24.96 16-Sep-2008
9 The Oudh Sugar Mills Ltd 23.99 4.71 19-Sep-2008
10 JK Tyre & Industries Limited 87.25 17.12 25-Sep-2008
11 Hindalco Industries Ltd. 4,544.63 891.98 24-Oct-2008
12 Tata Investment Corporation Ltd. 447.74 87.88 4-Nov-2008
13 Tata Motors Limited 4,139.33 812.43 4-Nov-2008
14 Tata Motors Limited 1,957.36 384.17 5-Nov-2008
15 Federal-Mogul Goetze (India) Limited. 128.86 25.29 22-Dec-2008
16 Dish TV India Limited 1,139.93 223.73 23-Jan-2009
17 Thomas Cook (India) Ltd 179.81 35.29 28-Jan-2009
Total 31,656.37 6,213.22
48
Table 3-8 : Preferential Allotments by NSE Listed Companies during 2008-09
S. No. Company Name Amount Raised
Rs. CroreAmount Raised
US $ mn
1 Aditya Birla Nuvo Limited 341.27 66.98
2 Allied Digital Services Limited 61.84 12.14
3 Agro Dutch Industries Limited 8.95 1.76
4 Aksh Optifibre Limited 11.30 2.22
5 Alkyl Amines Chemicals Ltd. 10.00 1.96
6 Allcargo Global Logistics Limited 0.09 0.02
7 Alok Industries Limited 109.48 21.49
8 Alphageo (India) Limited 7.51 1.47
9 Ansal Housing and Construction Limited 18.17 3.57
10 Antarctica Ltd 1.25 0.25
11 Apollo Hospitals Enterprise Ltd 68.60 13.46
12 Apollo Tyres Ltd 82.04 16.10
13 Aptech Limited 30.09 5.91
14 Arihant Foundations & Housing Ltd 2.30 0.45
15 Aro Granite Industries Limited 4.43 0.87
16 Arvind Limited 49.92 9.80
17 Assam Company Limited 188.33 36.96
18 Aurionpro Solutions Limited 95.97 18.84
19 Autoline Industries Limited 52.92 10.39
20 Autolite (India) Limited 0.50 0.10
21 B.A.G Films and Media Limited 69.54 13.65
22 Banco Products (I) Ltd 10.17 2.00
23 Banswara Syntex Limited 2.84 0.56
24 Bartronics India Limited 60.19 11.81
25 Blue Coast Hotels and Resorts Limited 42.77 8.40
26 BOC India Limited 597.30 117.23
27 Bombay Rayon Fashions Limited 126.27 24.78
28 Cairn India Limited 2534.59 497.47
29 Cinevistaas Limited 3.18 0.62
30 Classic Diamonds (India) Limited 5.60 1.10
31 Core Projects and Technologies Limited 33.00 6.48
32 Cubex Tubings Ltd. 9.58 1.88
33 Cybertech Systems And Software Ltd. 2.32 0.46
34 Delta Corp Limited 123.45 24.23
35 Dwarikesh Sugar Industries Limited 7.52 1.47
Contd...
49
S. No. Company Name Amount Raised
Rs. CroreAmount Raised
US $ mn
36 Easun Reyrolle Ltd 17.23 3.38
37 Electrosteel Castings Ltd 46.44 9.11
38 Electrotherm (India) Ltd. 140.50 27.58
39 Era Infra Engineering Limited 243.54 47.80
40 Escorts Ltd 30.26 5.94
41 Everonn Systems India Limited 91.39 17.94
42 Fresenius Kabi Oncology Limited 7.12 1.40
43 Garware Wall Ropes Ltd. 19.91 3.91
44 Garware Offshore Services Limited 31.33 6.15
45 GATI LIMITED 59.65 11.71
46 Gemini Communication Limited 1.73 0.34
47 Genesys International Corporation Limited 6.37 1.25
48 Genus Power Infrastructures Limited 19.90 3.91
49 The Great Eastern Shipping Co. Limited 0.31 0.06
50 Goldstone Infratech Limited 33.00 6.48
51 Goldstone Technologies Ltd. 5.44 1.07
52 GTL Infrastructure Limited 382.02 74.98
53 Gujarat NRE Coke Ltd. 30.00 5.89
54 Havells India Limited 155.25 30.47
55 Himadri Chemicals And Industries Ltd 7.79 1.53
56 Heritage Foods (India) Ltd. 48.81 9.58
57 Hikal Limited 64.46 12.65
58 Himatsingka Seide Ltd 3.33 0.65
59 Horizon Infrastructure Limited 1.65 0.32
60 ibn18 Broadcast Limited 225.18 44.20
61 ICSA (India) Limited 60.16 11.81
62 Idea Cellular Limited 7294.48 1,431.69
63 Ifb Agro Industries Ltd 2.01 0.39
64 Ifb Industries Ltd. 8.70 1.71
65 IMP Powers Ltd 23.02 4.52
66 Indo Asian Fusegear Limited 12.00 2.36
67 Ind-Swift Laboratories Ltd. 17.06 3.35
68 Infotech Enterprises Ltd 98.06 19.25
69 IOL Netcom Limited 6.65 1.31
70 Jayant Agro Organics Ltd. 18.00 3.53
71 JBF Industries Ltd. 30.63 6.01
Contd...
Contd...
50
S. No. Company Name Amount Raised
Rs. CroreAmount Raised
US $ mn
72 JCT Electronics Limited 114.34 22.44
73 JHS Svendgaard Laboratories Limited 1.84 0.36
74 JIK Industries Limited 30.04 5.90
75 Jindal Drilling And Industries Limited 153.60 30.15
76 Jain Irrigation Systems Limited 99.63 19.55
77 Jain Irrigation Systems Limited 52.72 10.35
78 JK Lakshmi Cement Limited 40.00 7.85
79 JMT Auto Limited 3.24 0.64
80 Jaiprakash Associates Limited 397.00 77.92
81 JSL Limited 118.68 23.29
82 JSW Steel Limited 217.60 42.71
83 Kalindee Rail Nirman (Engineers) Limited 3.60 0.71
84 Karuturi Global Limited 195.28 38.33
85 Khandwala Securities Limited 2.67 0.52
86 Kinetic Motor Company Limited 6.50 1.28
87 Klg Systel Ltd. 27.93 5.48
88 KDL Biotech Limited 8.73 1.71
89 Kopran Ltd. 4.53 0.89
90 K S Oils Limited 130.75 25.66
91 Lakshmi Energy and Foods Limited 58.91 11.56
92 Logix Microsystems Limited 10.63 2.09
93 Lyka Labs Ltd 6.70 1.31
94 Maars Software International Ltd. 7.72 1.52
95 Magma Fincorp Limited 32.29 6.34
96 Maharashtra Seamless Ltd 0.00 0.00
97 Malwa Cotton Spg. Mills Ltd 4.00 0.79
98 Marksans Pharma Limited 16.90 3.32
99 Mcnally Bharat Engineering Company Limited 20.97 4.11
100 Micro Technologies (India) Limited 5.01 0.98
101 Mid-Day Multimedia Limited 10.00 1.96
102 Morepen Laboratories Ltd 11.59 2.28
103 NCL Industries Limited 6.37 1.25
104 Neocure Therapeutics Ltd 3.90 0.76
105 Nuchem Ltd 0.75 0.15
106 Onward Technologies Ltd 5.94 1.17
107 Orchid Chemicals Ltd 92.38 18.13
Contd...
Contd...
51
Contd...
S. No. Company Name Amount Raised
Rs. CroreAmount Raised
US $ mn
108 Pantaloon Retail (India) Ltd. 427.00 83.81
109 Parekh Aluminex Limited 80.59 15.82
110 Patel Integrated Logistics Limited 13.32 2.61
111 Pearl Polymers Ltd 1.22 0.24
112 Phillips Carbon Black Ltd. 44.70 8.77
113 Pioneer Embroideries Limited 1.73 0.34
114 Pitti Laminations Limited 2.88 0.57
115 Ponni Sugars (Erode) Limited 2.00 0.39
116 Prajay Engineers Syndicate Limited 80.30 15.76
117 Prakash Industries Ltd 148.75 29.20
118 Premier Limited 16.97 3.33
119 Prime Securities Limited 51.43 10.09
120 Provogue (India) Limited 373.52 73.31
121 Radico Khaitan Limited 92.00 18.06
122 Rain Commodities Limited 101.27 19.88
123 Ranbaxy Laboratories Ltd 3409.22 669.13
124 Reliance Industries Ltd 16824.00 3,302.06
125 Shree Renuka Sugars Limited 37.54 7.37
126 Radha Madhav Corporation Limited 38.80 7.62
127 Rohit Ferro-Tech Limited 21.59 4.24
128 Rpg Cables Ltd 43.68 8.57
129 Ruchi Soya Industries Ltd. 49.60 9.74
130 Sagar Cements Ltd. 75.45 14.81
131 Sah Petroleums Limited 31.98 6.28
132 Sambhaav Media Limited 13.28 2.61
133 Sanghvi Movers Ltd. 12.31 2.42
134 Sb&T International Ltd 2.00 0.39
135 SEL Manufacturing Company Limited 36.08 7.08
136 Shri Lakshmi Cotsyn Limited 14.19 2.79
137 Shriram City Union Finance Limited 186.00 36.51
138 Simbhaoli Sugars Limited 6.37 1.25
139 Simplex Infrastructures Limited 8.02 1.57
140 Sintex Industries Ltd. 122.23 23.99
141 S. Kumars Nationwide Ltd 43.73 8.58
142 Sona Koyo Steering Systems Ltd. 16.26 3.19
143 SREI Infrastructure Finance Limited 72.00 14.13
Contd...
52
S. No. Company Name Amount Raised
Rs. CroreAmount Raised
US $ mn
144 Steel Strips Wheels Limited 31.35 6.15
145 Strides Arcolab Limited 201.83 39.61
146 Sterlite Technologies Limited 28.00 5.50
147 Sujana Universal Industries Limited 12.00 2.36
148 Summit Securities Limited 16.06 3.15
149 Su-Raj Diamonds and Jewellery Limited 30.77 6.04
150 Surana Corporation Limited 50.00 9.81
151 Suryajyoti Spinning Mills Limited 6.50 1.28
152 Talbros Automotive Components Limited 3.61 0.71
153 Techno Electric and Engineering Co Ltd 12.80 2.51
154 Tourism Finance Corpn Of India Ltd 63.83 12.53
155 Television Eighteen India Ltd. 111.44 21.87
156 UFLEX Limited 179.07 35.15
157 United Phosphorous Limited 206.96 40.62
158 UTV Software Communications Limited 842.58 165.37
159 Vakrangee Softwares Limited 54.23 10.64
160 Viceroy Hotels Limited 78.37 15.38
161 Vijay Shanthi Builders Limited 3.53 0.69
162 Visu International Limited 4.38 0.86
163 VLS Finance Ltd. 4.00 0.79
164 Walchandnagar Industries Ltd 50.72 9.95
165 Webel-SL Energy Systems Limited 3.75 0.74
166 Welspun Gujarat Stahl Rohren Limited 150.01 29.44
167 West Coast Paper Mills Ltd 22.25 4.37
168 XL Telecom Limited 16.34 3.21
169 Xpro India Limited 2.08 0.41
Total 40,607.80 7,970.13
Contd...
Table 3-9 : Amount raised through QIP during 2008-09
Sr. No Name of the company
Amount Raised
(Rs.cr) (US $ mn)
1 Dynamatic Technologies Ltd. 74.53 14.63
2 ibn18 Broadcast Limited 114.29 22.43
TOTAL 188.82 37.06