Saturday, September 1, 2012

Comfort Commotrade IPO

Comfort Commotrade, a commodity broker company, is entering capital market with a public issue 60 lakh equity shares and plans to raise Rs 6 crore through the issue. The company is a member of MCX and NCDX and offers trading in many commodities such as bullion (gold, silver), energy (crude oil, natural gas), metals, food grains (rice, maize), spices, oil and oil seeds and others.

The IPO shall open on 5 September, 2012 and shall close on 10 September, 2012. The IPO price is fixed at Rs 10 per equity share. Minimum bids can be made for 10,000 equity shares and in multiples of 10,000 shares thereafter.

The company intends to use proceeds of the IPO for expanding business operations, enhancement of margin money maintained with the exchanges and general corporate purpose. Comfort Commotrade has reported a net profit of Rs 17.15 lakh on total income of Rs 61.51 lakh in the year ended March 2012, a significant jump over previous year.

VC Corporate Advisors Pvt Ltd is the book running lead manager to the issue.


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