Here is the verbatim transcript of interview with CNBC-TV18’s Udayan Mukherjee.
Q: The one which is closing today, Indosolar, would you buy it or let it pass?
A: I will let it pass. In FY10, the industry had the stable year of performance because we did not see much volatility in the poly silicon prices, which was experienced in FY08 and FY09. In spite of that, we have seen pathetic performance coming in from the company. Indosolar in FY10 had posted a turnover of Rs 130 crore with net loss of close to about Rs 66 crore. So, I don’t think that with stable raw material prices and in spite of having a realisation of Rs 6 crore per mega watt for solar photovoltaic type cells, I don’t think that company has any future.
Apart from that, the company is going in for a prematured expansion. They already have Rs 160 mega watt of their capacity, which they are presently operating at a capacity utilisation of less than 50%. In spite of that, they are contemplating an expansion of Rs 340 crore, adding 100 mega watts more, which in my view mainly to avail the subsidy entitlement of Rs 300 crore from the Government of India because once they hit the Rs 1,000 crore expansion, they will be entitled for this subsidy. So, the whole structuring of the issue and the performance of the company has not been satisfying at all. They have a very brief history of close to 12 – 13 months only of the performance and in spite of that such a big expansion and all sort of things, I am not convinced and I won’t advice to go for the issue.
we should not be worried about the mils subscription of the issue and current GMP.Sometimes undersuscribed and low GMP issue does very well on listing day.as company is unique, lets hope it will do well
ITS NOT ME I HAVE NOT PUT A SINGLE APPLICATION IN THIS IPO. HOWEVER ITS A PURELY MANAGED IPO CAN GIVE THIS GUY (229 BOLO TARA RA RA) RS. 5 LAC PROFIT OR LOSS IN 25 APPLICATION. BEST OF LUCK FROM ME.
May I please be guided on how to see the subscription figure for IPOs during the course of the day?. - I generally see the current day subscription data from chittogarh.com only on the next day morning. Please help
As I told you before that May Enam will be No.1 in Lead Manager But for Investor its a CHOR. Today also the IPO whoes Lead Manager was Enam yet not crossed the Issue price LIke Sezal Glass.
165. PCJAIN Sep 14, 2010 5:37:13 PM IST Report Spam Any how the lead manager is Enam Securities the Number 1 in lead Manager But Number 1 CHOR for Investor Past record shows any Issue by Enam has not given much profit BUt loss. So investor beware better to avoid this IPO.