Indoco prices IPO at Rs 220-245

Indoco prices IPO at Rs 220-245
Indoco Remedies has fixed the price band for its maiden public issue at Rs 220-245. The company is making an initial public offer of 30,00,000 equity shares of Rs 10 each.

The issue is being made through the 100% book building process. The issue will remain open from December 17-23, 04.

The promoters and the promoting group currently hold 79.8% of the paid-up equity capital of Rs 8.8 crore, which will fall to 59.5% after the issue.

Enam Financial Consultants is the book running lead manager; IL&FS Investmart is the co-book running lead manager. Intime Spectrum Registry is the registrar to the issue.

The proceeds will be utilised to partly fund the companys expansion programme, to set up a formulation plant at Baddi, Himachal Pradesh, an API manufacturing plant, R&D centre, and repayment of loans for brand acquisition and purchase of office.

For the financial year ended June 04, the company reported net sales of Rs 156.6 crore and a net profit of Rs 21.2 crore. Indoco is ranked No 34 as per ACNielsen ORG-Marg Retail Audit at the all-India level and ranks No 23 in terms of prescription generation by ACNielsen ORG-Marg Prescription Audit of June 04.
What are the prospects of this IPO? I'm planning for a buy and selling on listing.

Anyone feels that it is a long term bet? how about the medium term?
I had applied for four applications of my family members of 49K each and was allotted nil shares in all four. Dont you think something is fishy in these allottements or is it a coincidence. I would like to know from our members for those who are alotted any shares in this Indoco Remidies or Bhartishipyard IPO as the same thing happen in Bharati Shipyard Issue also. :confused:
Hello Guys,

I am not sure if any one can play foul in the allocation of shares in an IPO. After all we have regulator in place !!

BTW, I have been allocated 25 share on one of the two applications. I believe, its not worth applying for IPO..since the allotments most of the times come in these lil nos only. Basically, blocking hard cash, 98 K in my case this time and the net result is 25 shares.

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You are right that in small issues the allottment is very less and not worth investing big amount but in big issues like Tcs and Ntpc we got allotments as well as price.People earned money.
About the regulator part,have you been to police station for some important work.Well people generally have bad experiences if not always.

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