Wednesday, February 3, 2010

Emmbi Polyarns IPO - Analysis, Subscription, Allotment and Listing

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Emmbi Poyarns has come out with an IPO of 95,74,000 shares of Rs 10 each. The company is engaged in the business manufacturing and selling of FIBC (Jumbo Bags) and Woven Sacks and various woven polymer based products like Container Liners, Protective irrigation system, Canal Liners, Flexi Tanks, Car covers etc.

The objective of the issue is to raise funds for expansion in the present facility to increase the present installed capacity from 5,000 MTPA to 17,800 MTPA and working capital requirements.

The price band was at Rs 40 to Rs 45 per equity share and the minimum bid lot was of 150 equity shares and in multiples of 150 shares thereafter. Upto 50,000 equity shares would be reserved in the issue for subscription by eligible employees. The issue would constitute of 55% of the post issue paid-up capital of the company.

The book running lead manager to the issue is Keynote Corporate Services Ltd and Datamatics Financial Services is the registrar.

At the close of the IPO, it got subscribed by 1.16 times.
QII segment got subscribed by 0.36 times
NII segment got subscribed by 5.26 times
Retail segment got subscribed by 0.05 times
Employee reservation segment got minor subscription at 0.003 times

Click here to check if you have been alloted Emmbi Polyarns IPO shares!

The listing would have made the investors nervous. Against the issue price of Rs. 45, the IPO opened at Rs. 46 on NSE, went to a shocking low of Rs. 26, a high of Rs. 48, before closing the day at Rs. 28.75, a discount of 36%.

Watch out this blog for details on allotment and listing!
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