Review By Dilip Davda on September 24, 2011
Tijaria Polypipes Ltd.: The Company promoted by Tijaria group is engaged in the manufacturing of high grade HDPE, KDPE, LDPE, LLDPE, uPVC and PP-R pipes and selling under the brand name of Tijaria and Vikas. It also manufactures sprinklers. Now the company is expanding its capacity and wants to diversify into other plastic products and generate corpus fund. To part finance this, the company is coming out with an IPO of 10000000 equity share of Rs. 10 each at a fixed price of Rs. 60 per share. The issue opens for subscription on 27.09.11 and closes on 29.09.11. Hem Securities Ltd. is the sole BRLM and Sharex Dynamic (India) Pvt. Ltd. is acting as registrar to the issue.
ICRA has assigned IPO Grade 2 to this issue indicating at Below Average Fundamentals of the company. Shares will be listed on BSE and NSE. Minimum application is to be made for 100 shares and in multiples thereof. As far as BRLM is concerned, it came out with one issue in the past that was able to give positive return on the debut day.
On financial front of the company, for 2010-11 it posted net profit of Rs. 6.90 crore on a turnover of Rs. 118.60 crore that gives EPS of Rs. 2.80 on the post IPO equity translating in P/E of 21 plus against its peer that quotes around 6 P/E and more that 2 P/BV.
Review By Dilip Davda on September 24, 2011
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 Tijaria Polypipes Ltd. offers an early investment opportunity in Tijaria Polypipes Ltd.. A stock market investor can buy Tijaria Polypipes IPO shares by applying in IPO before Tijaria Polypipes Ltd. shares get listed at the stock exchanges. An investor could invest in Tijaria Polypipes IPO for short term listing gain or a long term.
Read the Tijaria Polypipes IPO recommendations by the leading analyst and leading stock brokers.
Tijaria Polypipes IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Tijaria Polypipes IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts mentioned in the above answer to "How is Tijaria Polypipes IPO?"
Our recommendation for Tijaria Polypipes IPO is to avoid.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to avoid the Tijaria Polypipes IPO.
The Tijaria Polypipes IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Tijaria Polypipes IPO allotment status to check.
