SBI Cap Securities has advised investors to ‘Subscribe’ to initial public offering of Gravita India for listing gains. The company has entered capital market to raise between Rs 43-45 crore by offering shares in the price band of Rs 120-125 per share.
“Gravita India is currently valued at 11.7x and 12.2x of its FY10 earnings at lower and upper price band respectively. While comparing the company with its peers based on their trailing twelve months earnings multiples, Gravita India seems reasonably priced based on most valuation parameters. Hence we recommend investors to 'SUBSCRIBE' to the IPO for listing gains,” the report said. More Details
Recyclers of lead batteries and manufacturers of lead and lead alloys, Gravita India has opened for subscription today. Priced between Rs 120-125, the company is offering 36 lakh equity shares through the IPO route, which will close on November 3. The company aims to raise Rs 43.2-45 crore.
Rajat Agrawal, MD of the company, in an interview with CNBC-TV18’s managing editor Udayan Mukherjee said the company has an 8% share of the 110,000 tonne lead market in India. Post issue, the company plans to scale up their lead capacity.
“Presently we have 38,700 tonne per annum capacity to handle lead. After expansion, our total capacity is going to be 62,000 tonne of lead,” he said. More Details>>
Rajat Agrawal, MD of the company, in an interview with CNBC-TV18’s managing editor Udayan Mukherjee said the company has an 8% share of the 110,000 tonne lead market in India. Post issue, the company plans to scale up their lead capacity.
“Presently we have 38,700 tonne per annum capacity to handle lead. After expansion, our total capacity is going to be 62,000 tonne of lead,” he said. More Details>>
The first initial public offering for the month of November of - a manufacturer of lead metal - Gravita India has opened for subscription today. The company is offering 36 lakh equity shares through IPO, which will close on November 3.
The company aims to raise Rs 43.2-45 crore at a price band of Rs 120-125 a share.
Gravita India IPO opens for subscription
Gravita intends to utilise the proceeds of the issue for setting up an additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra. It will also use the proceeds for investment in overseas ventures at Sri Lanka - Navam Lanka Limited, Senegal - Pagrik Senegal SA and Honduras - Gravita Honduras SA. More Details>>
The company aims to raise Rs 43.2-45 crore at a price band of Rs 120-125 a share.
Gravita India IPO opens for subscription
Gravita intends to utilise the proceeds of the issue for setting up an additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra. It will also use the proceeds for investment in overseas ventures at Sri Lanka - Navam Lanka Limited, Senegal - Pagrik Senegal SA and Honduras - Gravita Honduras SA. More Details>>
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