Wednesday, January 16, 2013

Esteem Bio Orgranic Food Processing IPO

Esteem Bio Organic Food Processing, a delhi based company, has come out with its IPO of 45 lakh equity shares of Rs 10 each and aims to raise Rs 11.25 crore through public issue. Net issue for the public is of 37.50 lakh equity shares while the balance 7.5 lakh shares will be reserved for subscription by market makers to the issue.

The IPO shall open on 18 January, 2013 and shall close on 22 January, 2013. The issue price is fixed at Rs 25 per share. Bids can be made for minimum of 6,000 equity shares and in multiples of 6,000 shares thereafter.

Esteem Bio Organic intends to use issue proceeds for setting up of shade net cultivation facility; development of farm land for organic farming; procurement of farm tools and equipments; and brand building.

The IPO will be listed on BSE SME. Guiness Merchant Bankers Private Limited is the book running lead manager to the issue.

Recommendation:

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

Subscription:

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Allotment:

Click here to check Esteem Bio Organic Food Processing allotment status!

Listing:

Esteem Bio Organic Food Processing IPO got listed on 7 February, 2012. The share touched an intra-day low of Rs 25.25 and an intra-day high of Rs 26.5 before closing the day at Rs 26.5, a premium of 6% over its issue price of Rs 25 per share.


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