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Prakash Steelage Ltd IPO

IPO Detail Basis of Allotment Allotment Status IPO News

Aug 05, 2010 - Aug 10, 2010

Incorporated in 1991, Prakash Steelage Limited (PSL) is an ISO 9001: 2008 and PED certified Company, engaged in the manufacturing of seamless & welded stainless steel Pipes, Tubes and U-tubes. Company carry their production through two state-of- the-art production units situated at Silvasa and Umbergaon (Gujarat) with total installed production capacity of 12200 MTPA.

PSL is also a “Govt. Recognized Star Export House” exporting to several MNC’s into more than 40 countries across the Globe. To meet the increasing demand, they propose a backward integration cum expansion of manufacturing facilities at their existing unit in Umbergaon, Gujrat.

Company Promoters:

The Promoter's of the company are:

1. Mr. Prakash C. Kanugo, (56 years) is the Promoter, Chairman & Managing Director of the Company.
2. Mr. Ashok M. Seth, (36 years) is the Promoter Director of the Company.

Company Financials:

Particulars	For the year/period ended (Rs. in Lacs)
	30-Sep-09	31-Mar-09	31-Mar-08	31-Mar-07	31-Mar-06	31-Mar-05
Total Income	19,191.02	32,247.36	23,238.20	16,005.63	9,894.02	6,147.99
Profit After Tax (PAT)	746.10	749.71	820.38	314.30	81.00	33.81

Objects of the Issue:

The Objects of the Issue are:

1. Expansion of existing manufacturing facility at Umbergaon, Gujarat;
2. Meet the additional working capital requirement;
3. General corporate purpose;
4. Meet the issue expenses; and
5. List the equity shares of the company on the stock exchanges.

Issue Detail:

  »»  Issue Open: Aug 05, 2010 - Aug 10, 2010
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: 6,250,000 Equity Shares of Rs. 10
  »»  Issue Size: Rs. 68.75 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 100 - Rs. 110 Per Equity Share
  »»  Market Lot: 60 Shares
  »»  Minimum Order Quantity: 60 Shares
  »»  Listing At: BSE, NSE

Prakash Steelage Ltd IPO Grading / Rating

CARE has assigned an IPO Grade 2 to Prakash Steelage Ltd IPO. This means as per CARE company has 'Below Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for Prakash Steelage Ltd.

Check IPO Ratings from other stock analysts.

Prakash Steelage IPO Tags:

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Bidding Status (IPO subscription detail):

	Number of Times Issue is Subscribed (BSE + NSE)
As on Date & Time	Qualified Institutional Buyers (QIBs)	Non Institutional Investors	Retail Individual Investors (RIIs)	Employee Reservations	Total
Shares Offered / Reserved	3,075,000	922,500	2,152,500	100,000	6,250,000
Day 1 - Aug 05, 2010 17:00 IST	0.1000	3.9200	1.0200	0.1400	0.9800
Day 2 - Aug 06, 2010 17:00 IST	0.5100	3.9600	1.1100	0.8900	1.2300
Day 3 - Aug 09, 2010 17:00 IST	1.2700	4.2600	1.4500	1.0100	1.7700
Day 4 - Aug 10, 2010 17:00 IST	1.2700	10.9100	6.6200	1.0200	4.5300