Reliance Power IPO subscribed 69 times
Reliance Power’s public issue is estimated to have generated demand for shares worth more than Rs 706,000 crore ($179.5 billion) as bids continued to pour in on the last day of the Anil Ambani Group firm’s IPO.The IPO received bids for 1,507 crore shares as against the 22.8 crore shares on offer, getting subscribed over 68.81 times, said merchant banking sources in Mumbai on Friday.

The public offer has already set a number of records, including the highest amount to be raised at Rs 11,700 crore and the maximum demand generated. The previous biggest IPO in terms of funds raised was ONGC that mopped up over Rs 9,500 crore, followed by real estate giant DLF with Rs 9,000 crore while the public issue of Adani’s Mundra Port and SEZ Ltd had generated a demand of shares worth more than     Rs 200,000 crore.
The company is offering equity shares at a price band of Rs 405-450 per share, with a discount of Rs 20 per share on the final price to retail investors. The issue had opened on January 15 and closed on January 18.

Wockhardt Hospitals fixes price band 
Wockhardt Hospitals Ltd has fixed the price band between Rs 280 and Rs 310 per equity share for its initial public offering of  around two crore and fifty one lakh (25,087,097) equity shares of Rs 10 each for cash at a price determined through a 100 per cent book building process. The Issue will constitute 24.06 per cent of the post-issue paid up equity share capital of the company.

   The company plans to use the issue proceeds to meet the cost of development and construction of greenfield and brownfield hospitals, to meet general corporate expenses, etc.

HDFC Q3 net surges 82.54% at Rs 649 cr
Housing Development Finance Corporation Ltd (HDFC) on Friday reported an increase of 82.54 per cent in net profit at Rs 648.93 crore for the quarter ended December 31, compared to Rs 355.49 crore for the corresponding period in 2006.

The total income of the company rose by 47.81 per cent at Rs 2154.72 crore for the quarter ended December 31, 2007, the same stood at Rs 1457.73 crore during the year-ago period, HDFC said in Mumbai.

SAP, Business Objects unveil joint offerings
As a first indication of the successful pace of integration of the two companies, SAP AG and Business Objects S A, revealed on Thursday nine joint product packages, available this month, that will be sold by both organisations’ global sales teams.

    These packages were chosen to address the most common challenges facing business users from the C-suite to main street.

These packages will allow companies to licence, install and manage solutions from SAP and Business Objects in a single IT investment transaction. 

NIIT Q3 net remains flat at Rs 34.7 crore
NIIT Technologies on Friday reported an almost flat profit after tax (PAT) at Rs 34.7 crore for the quarter ended December 31, 2007, against Rs 34.6 crore in the corresponding quarter previous year. The consolidated revenues grew by one per cent and stood at Rs 233.8 crore during the quarter, against Rs 231.5 crore in the corresponding quarter a year ago.  

YEN announces first private equity fair
YEN Expo Pvt Ltd on Friday announced in Bangalore that it would organise India’s first private equity fair, IPEF 2008, on February 27, 2008 at Grand Hyatt, Mumbai. IPEF 2008 will provide a B2B platform to over 25 companies to showcase their business and growth plans to around 150 private equity funds from India and abroad. 
  
Sebi reconstitutes CSE committee
Sebi on Friday announced that it has reconstituted the committee of Calcutta Stock Exchange Association Limited (CSE) and appointed Sunil Mitra IAS as the Administrator of the Exchange. The market regulator stated that the CSE Committee with Mr T K Das as the Administrator of the Exchange on December 4, 2003 has been superseded and now Mr Mitra will be vested with all powers to exercise and perform all the duties of the Committee. The reconstituted board of CSE will be headed by  Udayan Bose as the Chairman.