Saturday, May 18, 2013

Onesource Techmedia IPO

Onesource Techmedia Limited, a media company, has come out with an IPO of Rs 2.8 crore by offering 20 lakh shares of face value Rs 10 each. The company is reportedly engaged in the business of distribution and trading of media contents in the form of audio and video cassettes, compact disks etc. It claims to have entered into royalty agreements with various media houses for marketing the contents of devotional & folk songs, animation movie, Tamil TV serials etc. The company is also involved in event management activities.

The IPO shall open on 17 May, 2013 and shall close on 21 May, 2013. The company has fixed a price of Rs 14 per share. Investor needs to bid a minimum of 10,000 and in multiples of 10,000 shares thereafter.

The company intends to utilize the proceeds of the IPO for spending Rs 50 lakh on office infrastructure, Rs 100 lakh on development of contents, Rs 50 lakh as deposits for acquisition of contents and Rs 35 lakh on brand building and general corporate purposes.

Guiness Corporate is the lead manager and Purva Sharegistry is the registrar of the IPO. This IPO shall list on BSE SME platform.

Recommendation:

We do not recommend this IPO to investors.


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