Alkali Metals IPO - Analysis, Recommendation and Review

Alkali Metals Ltd has entered the capital market with offer of 25,50,000 equity shares of Rs 10 each at a price band of Rs 90-105 to part fund the setting up of a new manufacturing base in Jawaharal Nehru Pharma City at Parwada near Vizag.

The company proposes to utilise the issue proceeds to finance their expansion plan that envisages setting up of an Active Pharmaceutical Ingredients (API) plant in the Pharma City.

The public offer of about 25.04 per cent of the company equity opens today. The shares will be listed on the BSE and NSE.

Last fiscal, the company closed with revenues of Rs 62 crore and profit of Rs 9 crore.

We do not recommend investors to invest in this IPO. It is bloodbath in the stock market these days and there is no point taking risk with not established companies.

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