Olympic Cards IPO (Initial Public Offering) : Opens on 9th March 2012

by khalid on 05/03/2012 · 1 comment

Olympic Cards Initial Public Offering

Chennai-based Olympic Cards Limited is entering the capital market with its —  equity shares of face value of Rs 10 each. The company’s Initial Public offering (IPO) will open on 9th March 2012 and will close on 13th March 2012. The IPO will allot shares in a price band of Rs 30 to 32 per share. The premium of the issue will be decided through a 100% Book Building Process. Applicants need to bid for a minimum of 200 shares and thereafter in multiples of 200 shares. The company is likely to raise around Rs 25.00 Crore through the issue at the upper level of price band. Olympic Cards Limited is the Manufacturer and Supplier of Invitation cards for all occasions. They are one of the leading manufacturers of paper/board based products, with a presence mainly in southern India.

The company will use the Initial Public offering proceeds for Setting up of a new manufacturing unit near Chennai. The company will expaend its capital for establishing four own retail outlets of the Company and to meet the isue expenses.

The equity shares offered through the Initial Public offering (IPO) are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Olympic Cards IPO Grading : CRISIL has given 1 grade and this rating/grading is ‘Poor’ for an invitation card manufacturer company. The grade 1 indicates that the fundamentals of the IPO are ‘Poor fundamentals’ compared to the other listed securities in India.

The Book running lead manager (BRLM) to the issue is Ashika Capital Limited.

Registrar of the Issue : Cameo Corporate Services Limited Chennai.

Bell the bull says : As the CRISIL given a POOR rating to the issue, so be aware and do not apply for IPO.

Stay tuned to BelltheBull Blog for more on Olympic Cards Limited Initial Public Offering (IPO) !

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