Monday, March 25, 2013

Samruddhi Realty IPO

Samruddhi Realty, a real estate company, has come out with an IPO of 21.7 lakh shares and plans to raise Rs 2.6 crore through the issue.

The IPO shall open on 28 March, 2013 and shall close on 3 April, 2013. The company has fixed price of Rs 12 per equity share. Investors can bid a minimum of 10,000 equity shares and in multiples of 10,000 shares thereafter. So, a retail investor can only purchase 10,000 shares as it amounts to Rs 1,20,000.

The company intends to utilize the proceeds of the IPO to partially repay long term loans.

Hem Securities Ltd is the lead manager of the issue and Sharex Dynamic (India) Pvt Ltd is the registrar of the issue. The IPO shall get listed on BSE SME.

Recommendation:

We would not recommend investors to invest in this IPO.


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