As per red herrring prosectus filed with SEBI. Companys book value per share is 33. Rs. So company is asking for 2 and half times premium over book value which in this kind of market looks risky,
Again as per red herring prospectus CARE have given rating 1 for poor fundamentals of the company.
Moreover, issue size only 57 lacs odd, means to retail investors only 19 lacs odd shares to be allotted.
If you ask me, Avoid the issue, and wait for better ones like Adani Power, NHPC
look at the profit the company is posting compared to the turnover.
Ths copany is posting profit 0f around 80 % in year 2008 & about 75 % in year 2009.
looking that inflated profit shown by the company.
I suggest keep away from it I also suggested to keep away from the RISHABTECHO CABLE...but u people invt in that share....now look at the shar eprice of that share .....not trading below 18 Rs//////