Friday, March 14, 2008

Titagarh Wagons IPO - Analysis, Review and Recommendation

Titagarh Wagons is entering capital market with an initial public offering of 24.87 lakh shares of face value Rs 10 each on March 24. The price band has been fixed at Rs 540 to Rs 610. The issue will close on March 27, 2008.

The company is planning to raise approximately Rs 129 crore to Rs 145 crore, out of which the company will get Rs 111.6 crore to Rs 126 crore. Issue will constitute 15% of post issue paid up capital. Amongst PE investments, Blackstone has picked up a minority interest in Titagarh Wagons for Rs 672 a share, which is the fifth major investor to put money in Titagarh Wagons. Other investors include GE Capital Infrastructures, JP Morgan, 2i Capital and ChrysCapital.

We would recommend investors to invest in this IPO.

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