BIG in India

Following the advice of the Yemeni Queen of Ugliness, I bought some BIG shares on TASE. Nothing is happening, and I had no idea what BIG was doing, apart from being a real estate developer. The paper says today that Lehman Bros will pay 15 million dollar for 25% of BIG's Indian enterprises, making BIG India's valuation 60 million dollar. BIG India is owned by Rony and Yehuda Naphtali and Eytan Bar Zeev, and an Indian partner called Choodary. They had already bought dozens of properties for mall building. Following Lehman's participation, BIG India is planning to launch the company on the Indian stock exchange.

Indian markets welcome real estate. The public issues of Parsvnath Developers and Lanco Infratech was oversubscribed by more than 50 times and 10 times, respectively. Parsvnath Developers Ltd. made a debut at 80 per cent premium to the offer price of Rs 300 on the BSE. The stock opened at Rs 540 on the BSE. The initial public offering of Sobha Developers Ltd was also subscribed 108.51 times on the bourses. Eredene, a private equity fund raised $ 100 million earlier this year followed by another private equity fund Trinity Capital, which raised $500 million through AIM. Ansal Properties & Infrastructure Ltd, garnered Rs 681.75 crore through QIP, the overall book was subscribed by over two times. IVRCL Infrastructures & Projects Ltd raised Rs. 555 crore in a private placement via QIP route. The issue was oversubscribed multiple times. IVRCL is the first infrastructure construction company to raise equity through the QIP route

I hope that BIG India is linked to BIG Tase and I will profit from their foreign ventures.