The Vaswani Industries Company from Chattisgarh which operates in metal sector, has come out with its Initial Public Offering or IPO. The company is in coal-based sponge iron products and has a good product line which includes Induction Furnance, Sponge Iron, Power, Steel ingot/billet, Rolling Mill, TMT Bars, Forgings & Casting, etc.
In this article, we will look at the Review, Analysis and Details of the Vaswani Industries IPO.
Vaswani Industries IPO: Review Analysis & Details
Some basic details first about the Vaswani Industries IPO, which are available as of now:
- The size of Vaswani Industries IPO is around 45 Crore Rs. INR
- The company is in the business of coal-based sponge iron metal processing and similar iron products like Induction Furnance, Sponge Iron, Power, Steel ingot/billet, Rolling Mill, TMT Bars, Forgings & Casting
- Along with the iron ore business, the company also generates 11.5 MW of power. The surplus power is sold to private power companies as well as the State Electricity Board.
- The company has been in business for last 2 decades
What are the primary reasons for Vaswani Industries to come out with the Vaswani Industries IPO?
The main reason for any company to come out with an IPO is to collect money from the public through the standard process of listing on stock exchanges.
The Vaswani Industries IPO is expected to collect around 45-50 Crore Rs.
What is the issue size of the Vaswani Industries IPO?
Around 45-50 Crore Rs is the size of the Vaswani Industries IPO.
What is the price band of Vaswani Industries IPO?
The price band for Vaswani Industries IPO is Rs. 45 to 49 Rs per share.
How many shares will be sold in the Vaswani Industries IPO?
The total no. of shares to be sold through this IPO is arouond 10 million or 1 Crore shares.
What are the IPO dates for Vaswani Industries IPO
The IPO dates for Vaswani Industries IPO are from 29th April 2011 to May 3, 2011
How will the capital raised by Vaswani Industries IPO be used?
The capital raised through this IPO will be used for 3 primary reasons:
- Long term working needs
- General Expenditure
- Repayment of Loans
Other Current IPO's: Innoventive Industries IPO
Any ratings given to Vaswani Industries IPO?
yes, a rating of 2 out of 5 has been provided to this IPO by ICRA.
What are the analysts recommendations and business results for Vaswani Industries IPO?
For the 7 month period at October 2010 end, the company reported a Total Income of Rs.68.78 crores, and the Profit After Tax was at Rs.2.69 Crores.
Not much of information is available about the analysts recommendations. Going by the ICRA rating of 2 out of 5, it indicates that company does not have very sound fundamentals - investors need to weigh their pros and cons as per their investment needs and risk appettite.
Ashika Capital are BRLM Book Running Lead Managers to the issue
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