Wednesday, May 25, 2011

Timbor Home IPO

Timbor Home, a manufacturer and retailer of modular kitchens has come out with an IPO. The company is an international manufacturer and retailer of solid wood furniture, modular kitchens and doors with a distribution network comprising of franchisee stores across India.

The IPO shall open on May 30 and shall close on June 2, 2011. The company has fixed the price band of the its IPO at Rs 54-63 per share.

Corporate Strategic Allianz is the book running lead manager to the issue. Purva Sharegistry India Private Limited is the registrar of the issue.

Recommendation:
CRISIL has assigned Grade 1 to the IPO indicating below average fundamentals. We would not recommend this IPO to investors.

Subscription:
Timbor Home IPO got subscribed over 5.78 times. At the close of the IPO,

QII segment got subscribed 0.65 times
NII segment got subscribed 3.22 times
Retail segment got subscribed 14.22 times

Allotment:
Click here to check Timbor Home IPO Allotment status.

Listing:
Timbor Home IPO got listed on 22 June, 2011. The stock surged 57% to touch a high of Rs 99, before closing at Rs 91.50 on the NSE, a premium of 45% over an issue price of Rs 63 a share.