V-Guard Industries, a company based in Kerala, engaged in the manufacturing and marketing of electrical and electronic products, will list on the exchanges on March 13, 2008 with 80,00,000 equity shares.
Investment Advisor, S P Tulsian says, "V Guard Industries having issued shares at Rs 82 per share, is likely to list at Rs 90, and profit booking is advised above this level."
According to R S Iyer of K R Choksey Securities, "V-Guard is expected to list at around its issue price. One can book profits if he/she gets good money. Otherwise one should wait for next six months for strong gains.
The company had come out with a public issue of 80,00,000 equity shares of Rs 10 each for cash at a price of Rs 82 per equity share for cash aggregating to Rs 65.60 crore.
The issue, which was a 100% book built issue, was oversubscribed 2.45 times. Qualified Institutional Buyers' portion oversubscribed by more than 1.74 times, the retail portion by 4.04 times and the HNI portion by 1.64 times.
The company proposed to utilize the net proceeds of the issue to set up Cable manufacturing facilities in Coimbatore and Uttaranchal, Enameling Plant at Coimbatore, Development and Pilot Productions Plants for water Heaters, Fans and Pumps at Himachal Pradesh and Coimbatore, Service and Distribution Centers at Bangalore, Hubli and Vijaywada.
V-Guard Industries is engaged in the manufacturing and marketing of Electronic Voltage Stabilizers, Monobloc, Jet, Submersible, Compressor pumps and Electric Motors, Insulated Electrical Cables (House Wiring, Industrial), Electric Storage & Instant Water Heaters, Solar Water Heaters, UPS, Electric Fans and is also in generation of Power in a small way. V-Guard is present in 16 states with eighteen branches including their head office located in Cochin. Their products are sold through a network of over 7000 retail dealers and 111 distributors Pan India.
Source: Moneycontrol.com
Wednesday, March 12, 2008
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