IF YOU ON A SECOND CHANCE WANT TO GUESS WETHER IT LISTS AT DISCOUNT OR PREMIUM
PLZ READ THIS PIECE OF INFO THAT WAS VERY HELPFUL FOR ME TO AVOID FROM APPLYING TO THIS IPO AS I APPLY IN IPOS FOR LONG TERM and did not even force me to waste my time in deep research as i do for other ipos.
THIS IS NOT MEANT FOR PEOPLE WHO APPLIED IN TIRUPATI COZ I DONT WANT THERE BLOOD PRESSURE TO INCREASE
OTHER PEOPLE WHO INVESTED CAN ALSO TAKE NOTE OF EXAMPLES LIKE PRAKAS AND ASTER SILICATE AND GAINS IN THAT
I HAD SAID AVOID....
PLEASE DONT COME AND ABUSE ME AS YOU DID IN INDO SOLAR LISTING WHICH I ALSO SAID AVOID
THIS POST IS MEANT FOR NISHA OTHERS PLZ IGNORE THIS
The Kanpur based printing ink manufacturer is planning to raise Rs 51.50cr through follow on public offer,(97,53,658 equity shares) in the price band of Rs 41-43. The promoters of the company are, Sanjiv Agarwal, Rakesh Kumar Agarwal and Mrs. Rajni Maheshwari. Ashika Capital Limited are the BRLM.
The company’s past performance is unimpressive. Look at some of the risk factors:
The company is yet to apply for necessary approvals in relation to the proposed project.
Shares are not going to be listed in NSE. An indication of the quality of the issue, company and management.
c. The Objects of the Issue -( expansion, acquisition and general corporate purposes) for which funds are being raised, have not been apprised by any bank / FI.
d.The Board had declared dividend at Re. 1 per share for the year ended March 31, 2009, which was not approved by the shareholders in the Annual General Meeting, held on September 29, 2009.
e. Currently the shares listed in DSE. However, there has been no trading of the Equity Shares on the DSE, thereby depriving of liquidity to the shareholders/investors.
(There has been no trading in the shares of the company since January 1, 1993.)
f. The trademark is unregistered under the Trade Marks Act, 1999.
g. The land for the project is yet to be acquired and orders for plant and machinery are not placed.
The issue, will open on Sept-14, closes on 17-09-10.
RECOMMENDATIONS: Poor quality FPO. There are more uncertainties than certainties in implementation of the project. It appears the real object of the issue is for stock market manipulations. DO NOT TOUCH.
I think It will List most probaly on BSE Official Confirmation on BSE SITE on 1st OCT 2010. It will List around Rs 58/- Investor Can wait for 65 Level tomorrow.