Wednesday, August 13, 2008

Resurgere Mines IPO - Analysis, Recommendation and Review

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Resurgere Mines has opened for subscription with its IPO of Rs 121 crore. The issue opened on 11th August and will close on 13th August. The price band is between Rs 263 to Rs 272 per equity share.

Resurgere Mines & Minerals India Ltd. arkets mainly lump / size iron ore and calibrated lump ore (CLO). 25% of its sales is derived from exports. It sells most of its ore in the spot market.

We do not recommend investors to invest in this IPO. There are better stocks like Sesa Goa in the secondary markets that can be looked at instead of this IPO.

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