IPO of Religare Enterprises Ltd
Religare Enterprises Limited, which is a Ranbaxy group company and a leading player in the equity brokerage and allied financial services industry, is coming out with an IPO through the book building direction. Religare IPO has been priced at reasonable valuations, the main reason for which being the uncertainty in the Indian capital markets at the time the IPO price band was fixed.
The Company is promoted by the promoters of Ranbaxy Laboratories Limited and the Issue has been graded by ICRA Limited and assigned the IPO Grade 3 on a five point scale. The Equity Shares of the Company, offered through this IPO, are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and the Bombay Stock Exchange Limited (“BSE”).
Technical fact sheet- A Quick look:
Issue Period October 29, 2007 to November 01, 2007 Issue Size 7576102 Equity Shares Issue Type 100% Book Building Face Value Rs. 10/- Price Range Rs 160 to Rs 185 Tick Size Re. 1/- Market Lot 35 shares :Minimum Order Quantity 35 shares Maximum Subscription Amount for Retail Investor Rs.100000.
The objective of the issue is to fuel future growth including expansion of branches of two of its subsidiaries: Religare Securities and Religare Insurance Broking. REL plans to fund the retail finance business as well as expand its financing business through its subsidiaries Religare Finvest and Religare Finance.
Company was incorporated as “Vajreshwari Cosmetics Private Limited”. The name of this company was subsequently changed to “Religare Enterprises Private Limited”.
Having a look on Company’s Incorporation chart, there is a conjunction of Moon, Jupiter, Venus, Mercury and Neptune in twelfth house. Mars is in conjunction with Exalted Saturn in tenth house. Rahu is deposited in fifth house. Sun is in Sharavan Nakshatara pada-2. The position of Mars and Saturn in tenth house is not considered good. It may cause physical harm to chief executive and top management. The integrity of company is of very high order and the work force is invigorated to achieve organizational objectives. The company’s plans and targets become difficult to achieve within the time frame. Considering Stellium in twelfth house, Ganesha feels that the literary pursuits are successful and yield good dividends. Scientific developments receive greater attention. Jupiter is the planet of expansion; all big and high budgeted plans are progressed well. It may help in accretion of wealth and earning good profits.
After November 22, 2007 it may have wide reach, diversified product portfolio with distinctive expertise and a focused servicing model. It will have growing client base built on a well-recognized brand. Transiting Mars may provide more regional offices across the country. Transiting Moon supported it in contributing over subscription of allotment. The share price of this company may take additional bullish trend after May 2008, feels Ganesha. Though Religare IPO is likely to list at a huge premium to the issue price, there are chances of low listing gains.
For any solution related to remedy please consult expert astrologers.
With Ganesha’s Grace,