Wednesday, January 30, 2008

Shriram EPC IPO - Analysis

Shriram EPC, one of the leading service providers of integrated design, engineering, procurement, construction and project management services for renewable energy projects, process and metallurgical plants and municipal services sector projects throughout India and one of India’s leading 250 KW wind turbine generator manufacturers, has opened for subscription with its initial public offering (IPO) of 5,000,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The price band is between Rs 290 and Rs 330 per equity share. The issue will close for subscription on February 1, 2008.

Long term investors could look at investing in Shriram EPC IPO but considering the uncertainities in the global and indian markets, we would not recommend investors to invest in IPOs right now. It is better to wait for markets to stabilize and then invest in IPOs, else investor might find that listing has been lower than the issue price and he could have invested in the secondary markets instead of primary markets.

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