Friday, December 28, 2012

Eco Friendly Food IPO

Eco Friendly Food Processing Park plans to raise Rs 7.52 crores through an IPO by offering 30.06 lakh shares out of which 25.02 lakh shares is being offered to public. The company is engaged in to agriculture operations, wherein we cultivate wheat, paddy, sugar cane, fruits, vegetables and flowers. It is also engaged in the operations of wood plantation.

The IPO shall open on 27 December, 2012 and shall close on 31 December, 2012. The company has fixed the price at Rs 25 per share. Investors need to bid for minimum of 6000 shares and in multiples of 6000 thereafter. Maximum bid for retail investors is 6000 shares which amount to Rs 1.5 Lakhs.

The company intends to utilize the proceeds of the IPO for development of farm land for transition to organic farming; construction of storage sheds; solar fencing; brand building and general corporate purposes.

Guiness Merchant Bankers Pvt Ltd is the lead manager of the issue and Cameo Corporate Services Ltd is the registrar of the issue.

Eco Friendly Food Processing Park will get listed on BSE SME.

Recommendation:

We would not recommend investors to invest in this IPO at this time.

Subscription:

Visit this post again for subscription details!

Allotment:

Click here to check Eco Friendly Food IPO Allotment Status!

Listing:

Eco Friendly Food IPO got listed on 14 January, 2012. The share opened at Rs 24.50, touched an intraday low of Rs 24.15 before closing at Rs 26, a 4% premium to the issue price of Rs 25 a share.


1 comments:

Post a Comment