12/Jul/17 – Bid/Offer Opening Date 17/Jul/17 – Bid/Offer Closing Date 20/Jul/17 – Finalisation of Basis of Allotment 21/Jul/17 – Unblocking of Funds from ASBA Account 24/Jul/17 – Credit of Equity Shares to Demat Account 25/Jul/17 – Commencement of Trading on NSE/BSE
Since small ipo and reasonably priced we can expect decent listing gains and for long run if no fundamentals and no HNI participation please avoid holding.
Issue is reasonably priced. But its initial listing (due to offer size below Rs. 250 crore) will take place in “T†group, which will remove speculative aspect for the issue. However, investors may consider investment for medium to long term.
I went through the RHP and there are so many grey points. Some, i think are serious like
Section A.1: Insider Trading case against the company A.15: Investing a part of surplus funds in equity markets A.31: Trademark or logo is under the process of registration A.36: Our Promoter and Promoter Group Members has provided personal guarantees as security to secure our existing borrowings of Rs. 1,650.00 million..
If you can, check "Cash Flows of the Company". Seriously doubtful.
Sorry to say, but this company has no fundamentals.. In short, I am not going to apply (irrespective of listing gain/ short term /long term prospects)