Tulsi Extrusions IPO - Analysis

Tulsi Extrusions, PVC pipes and fittings manufacturer for the irrigation, industrial, infrastructure and housing sector, has opened for subscription with a public issue of 57,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book building process.

The price band for the issue is between Rs 80 and Rs 85. The issue opens on February 1, 2008 and will close on February 5, 2008.

We do not recommend investors to subscribe in this IPO. Investors might have made listing gains in this IPO had it listed 3 months back when the times were good. With this volatility in the secondary market, investors can only lose money in this IPO. Better companies are available in the secondary market for investors to consider even in this sector.

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