The tenth trading week of 2012 witnessed the first IPO listing for the year. On March 9 2012, MCX finally made its debut on the Indian bourses’, closing the day with gains of nearly 26% based on the issue price of Rs. 1032/- per share. This wasn’t of much cheer to the retail investors who ended up making between Rs 2100 to Rs 3100 on their investment of 2 lac rupees.
Data from Bulk deals sections indicates that Copthall Mauritius Investment Ltd. bought shares worth Rs. 56 crore in MCX at an average price of Rs. 1333/- per share. The seller was ICICI Emerging Sectors Fund.
Hyderabad-based Nava Bharat Ventures Ltd. also witnessed good deal activity this week. On March 9 2012, Kingfisher Capital CLO Limited (a subsidiary of Lehman Brothers Holdings) sold shares worth Rs. 60 crores in the company via bulk deals. Nearly 82% of these shares were bought by the promoters of Nava Bharat Ventures Ltd. through A N Investments Pvt Ltd, Nav Developers Limited, and Nava Bharat Ventures Employee Welfare Trust. Post this deal, Kingfisher Capital CLO Limited has cut down its stake in the company to 11.2% from 14.5%.
Other bulk deals for the week included companies like HDIL, Sintex, Core Projects and NCC.
On March 6 2012, Merill Lynch bought shares worth Rs. 25.4 crores in Mumbai-based real estate developer HDIL Limited. My earlier posts would inform that Goldman Sachs had also bought shares in HDIL Limited on Feb 14 2012. On the same date, Morgan Stanley scooped-up shares worth Rs. 14.9 crores in plastic products company Sintex Industries.
On March 7 2012, Goldman Sachs bought shares worth Rs. 18.2 crores in education service provider Core Projects, while Reliance Life Insurance Company bought shares worth Rs. 7.4 crores in infrastructure firm NCC Limited. My earlier posts would inform that Baer Capital had also bought shares worth Rs. 22 crores in NCC Limited on Feb 6 2012.
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