Review By on April 23, 2016
Ghushine Fintrrade Ocean Ltd (GFOL) is a engaged in trading activities of various textile materials (semi-finished and finished products) in the textile market. The Company is involved in trading of various textile products which are of high quality and also bulk trading. Traded item covers grey fabric, fabric for suiting & shirting, sarees, dress materials, quality fabrics, fabrics for home furnishings etc. etc.
GFOL is also engaged in trading of all kind of fabrics, including cotton, poly cotton, and all kind of synthetic fabrics. Its product range includes both finished and unfinished fabrics, offered in almost all widths ranging from 36' to 120'. The company is now actively engaged in supplying fabrics to various corporates in textile sector.
To part finance its working capital needs, the company is coming out with a maiden IPO of 2600000 equity share of Rs. 10 each at par to mobilize Rs. 2.60 crore. Issue opens for subscription on 25.04.16 and will close on 27.04.16. Minimum application is to be made for 10000 shares and in multiples thereon, thereafter. Issue is solely managed by First Overseas Capital Ltd and Purva Sharegistry (I) Pvt Ltd is the registrar to the issue. Post allotment shares will be listed on BSE SME. The company has issued all equity at par so far. Its current paid up equity capital of Rs. 2.34 crore will stand enhanced to Rs. 4.94 crore post IPO.
On performance front, it posted turnover of Rs. 0.06 crore and earned net profit of Rs.0.001crore for FY14 and a turnover of Rs. 1.47 crore with a net profit of Rs. 0.001 crore for FY15. For nine months ended 31.12.15 it has earned net profit of Rs. 0.65 crore on a turnover of Rs. 7.16 crore.
However, merchant banker has poor track record for its past mandates.
As the issue is at par, risk savvy investors may consider investment for long term.
Review By on April 23, 2016
Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.
He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.
Dilip Davda
SEBI Registered Research Analyst – Mumbai
Registration No.: INH000003127 (Perpetual)
Email: dilip_davda@rediffmail.com
Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.
The initial public offer (IPO) of Ghushine Fintrrade Ocean Ltd. offers an early investment opportunity in Ghushine Fintrrade Ocean Ltd.. A stock market investor can buy Ghushine Fintrrade Ocean IPO shares by applying in IPO before Ghushine Fintrrade Ocean Ltd. shares get listed at the stock exchanges. An investor could invest in Ghushine Fintrrade Ocean IPO for short term listing gain or a long term.
Read the Ghushine Fintrrade Ocean IPO recommendations by the leading analyst and leading stock brokers.
Ghushine Fintrrade Ocean IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Ghushine Fintrrade Ocean IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts mentioned in the above answer to "How is Ghushine Fintrrade Ocean IPO?"
Our recommendation for Ghushine Fintrrade Ocean IPO is to subscribe.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the Ghushine Fintrrade Ocean IPO.
The Ghushine Fintrrade Ocean IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Ghushine Fintrrade Ocean IPO allotment status to check.
