Notes:
The Pipeline is a running total of filed IPO's that have not Opened,
been Withdrawn or Postponed.
There is a 90% confidence level that the IPO's within the Pipeline
will open within a year.
The IPO's beyond the 12 month window have only a 10% chance of ever
opening.
The list of IPO filings and or specific changes listed below...is
updated daily.
No Blank Check IPO's or SPACs are included.
THERE ARE 156 ACTIVE IPOS IN THE PIPELINE AS OF THE END OF JULY
2010

Travel agency MakeMyTrip soars in market debut

Associated Press
Travel agency MakeMyTrip soars in market debut
By TALI ARBEL , 08.12.10, 02:45 PM EDT


NEW YORK --

Shares of Indian travel agency MakeMyTrip Ltd. soared as much as 80 percent in their market debut on the Nasdaq exchange, even as the broader markets declined.

The stock is on track to log the best first-day performance for an IPO since 2007. Financial advisory firm Financial Engines Inc., which has posted the top first-day return this year, closed up nearly 44 percent in its debut in mid-March. Since the recession began, online restaurant reservation company, OpenTable Inc. had the best first day with a 59 percent gain in May 2009.

MakeMyTrip likely attracted so much investor interest because there are very few Indian companies listed in the U.S. that focus on growth within India, said Josef Schuster of IPOX Capital Management, IPO investment advisors.

MakeMyTrip Ltd. began as a website in the U.S., mainly serving Indian expats wanting to travel to India. In 2005, it began operations in India, offering airline tickets as well as hotel bookings, bus tickets and other services to the country's fast growing demographic of middle-class consumers. MakeMyTrip cites data from consultancy McKinsey saying that the Indian middle class is expected to grow to 583 million people in 2025 from 50 million people in 2005.

India has a much smaller segment of its population on the Internet than the U.S. does, and the company says its revenue will rise as increasingly wealthy Indians get online.

The company's revenue grew throughout the recession, and MakeMyTrip claims it is the largest online travel company in India based on bookings in 2009. In the year ended March 31, 1.6 million domestic air ticket transactions were booked through MakeMyTrip's website in India, up from 1.2 million in the previous 12 months.

"There's a taste for companies that will dominate a possible niche," said Francis Gaskins of IPO research firm IPOdesktop.

But some analysts, such as Scott Sweet, the owner of IPO Boutique, expressed surprise at MakeMyTrip's performance Thursday, saying the company has never posted an annual operating profit and faces competition from Indian versions of big travel sites such as Expedia Inc. and Travelocity.

"They're a long way from making money," Sweet said.

But Schuster suggested that MakeMyTrip could be an acquisition target for rival companies such as Expedia or Priceline.com Inc. Another factor likely propelling MakeMyTrip's shares were strong second-quarter results from Orbitz Worldwide Inc. and Priceline, Schuster said.

MakeMyTrip plans to use proceeds from the IPO for acquisitions, new investments in technology and for working capital. The company raised $70 million by pricing 5 million shares for $14 each, the high end of its expected $12 to $14 range.

In late afternoon trading, shares gained $10.50, or 75 percent, to $24.50 on the Nasdaq, having risen as high as $25.16 earlier in the session. Another Thursday IPO debut, real estate software company RealPage Inc., also jumped $3.56, or 32 percent, to $14.56.

Meanwhile, broader markets dipped further after big losses on Wednesday, with the Standard & Poor's 500 dropping 0.8 percent.

It's a good sign for companies wanting to raise funds through the IPO market. Many companies have postponed their offerings because of weak demand from investors wary of the volatile stock market, or had to cut the prices on shares steeply to get to market.

RealPage, for example, priced shares at $11 apiece, significantly below expectations. It had hoped shares would fetch $13 to $15 each.


Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

GM files an initial S-1 (pre-prospectus) for an IPO

Today 8/19/10, General Motors filed with the SEC their IPO "pegged" to repay the government a portion of their indebtedness.



We are a leading global automotive company. Our vision is to design, build and sell the world’s best vehicles. Our business is diversified across products and geographic markets, with operations and sales in over 120 countries. We assemble our passenger cars, crossover vehicles, light trucks, sport utility vehicles, vans and other vehicles in 71 assembly facilities worldwide and have 87 additional global manufacturing facilities. With a global network of over 21,700 independent dealers we meet the local sales and service needs of our retail and fleet customers. In 2009, we and Old GM sold 7.5 million vehicles, representing 11.6% of total vehicle sales worldwide. Approximately 72% of our and Old GM’s vehicle sales volume was generated outside the United States, including 38.7% from emerging markets, such as Brazil, Russia, India and China (collectively BRIC), which have recently experienced the industry’s highest volume growth.



http://www.sec.gov/Archives/edgar/data/1467858/000119312510192195/ds1.htm



The current underwriters are listed below:





Morgan Stanley J.P. Morgan BofA Merrill Lynch Citi

Barclays Capital Credit Suisse Deutsche Bank Securities
Goldman, Sachs & Co. RBC Capital Markets UBS Investment Bank


Please keep looking for updates to blogs as we get closer to the GM debut, and more information becomes available.





Scott Sweet

Senior Managing Partner

Principal Researcher

GM files an initial S-1 (pre-prospectus) for an IPO

As GM Preps Offering, The IPO Market Is Still Sucking Wind

Carl Gutierrez, 08.13.10, 02:00 PM EDT

Household names with strong growth stories can still price deals, but investors have discerning tastes.

The market for initial public offerings has come a long way from the dark ages of late 2008 and early 2009, but continued economic uncertainty and tight credit conditions make for a discerning group of investors for companies that want to come to market. That doesn't mean deals can't get done, but expect the rest of 2010's offerings to be tilted more in favor of household names with strong track records.

The highlight will be General Motors, a unique IPO if there ever was one due to its background and its size. (See "The High Price Of The GM Bailout." and "Another IPO Roadmap For GM.") Despite -- or because of -- all the attention the automaker has been receiving, there remains significant uncertainty over how the market will embrace the offering, says Renaissance Capital research analyst Nick Einhorn. "There are questions over whether the investor will be willing to bet on the company given its tumultuous history, and how easy it will be for the company's underwriters, the government and the public investors to agree on a price."

The outlook for GM's IPO, which could be filed with the SEC as soon as next week, says much about the market in general. Though conditions have improved substantially since the worst days of the financial crisis, investors remain selective, resulting in a number of deferred IPOs as companies that meet resistance over fundamentals or price decide to step back to sand down the rough edges.

In Pictures: 10 Upcoming IPOs

"So far this year has been very cool," says Scott Sweet, senior managing partner of IPO Boutique, noting 26% of priced offerings have been canceled. "Although the volume of IPOs is well up over last year, most have needed to be cut in price and the performance has been mixed at best."
The three basic components to a sizable IPO, Sweet says, include an increase in year-over-year revenues, a decrease in losses and/or increase in profits year-over-year, and low debt levels, but that mix has been difficult to find. "Though the IPO-pipeline of those still to debut is at a rather robust 150-plus companies, many have been there for a year or longer," Sweet says.
This post-crisis attitude has had an especially strong impact on highly leveraged private equity offerings that defined the excesses of the boom market prior to the crash. "There has been a lot of resistance to over-leveraged companies coming out of the financial crisis, and we have seen a lot of private equity-backed deals get postponed," Einhorn says.
Sweet concurs, adding that in some cases there have been names with multi-billion dollar debt levels that had to cut their IPO price dramatically. "It's rather incredible," Sweet says, adding that the offering prices have been slashed by as much as 50%. Sweet also says biotechnology firms have been especially impacted, though their primary problem has been timing. "The biotechs are coming out way too early," Sweet says. "Most are in Phase Two [clinical studies], which means they're two or three years away from approval, and if and only if they get approval do they stand a chance."