Esteem Bio organic food processing Ltd – IPO – Review
Delhi based Esteem Bio Organic Food processing Ltd has come out for public issue for ₹ 11.25 crores of 45 lakhs shares @ ₹ 25 each. 7.5 lakhs shares would be allotted to market makers of the issue and balance 37.5 shares would be issued to general public.
About Esteem Bio Organic food processing
- Esteem Bio is engaged in agriculture operations to cultivate wheat, paddy, sugar cane, fruits, vegetables and flowers.
- It has operations of wood plantation.
- It has integrated facility of cultivation, processing and distribution of agri commodities.
- Brij Kishore Sabharwal and Amar Singh Bisht are the promoters for Esteem Bio. They have 2 decades of experience in various industries.
Current issue to public
- Issue price: ₹ 25 per share
- Application per share: ₹ 25 per share
- Minimum investment: ₹ 150,000.
- Minimum bid: 6,000 shares and in multiples of 6,000 thereafter
- IPO opens: 18-Jan-2013
- IPO closes: 22-Jan-2013
- Leader managers: Guiness Merchant Bankers Pvt Ltd
- Registrars: Cameo Corporate services Lt
- Listing: BSE / SME
Purpose of the IPO:
- Setting up share net cultivation facility
- Development of farm land for organic farming
- Farm tools and general equipment
- Brand building and Corporate expense purpose
- Issue expenses.
Recommendation: Company has heavy competition in the industry and retail investors need to subscribe for minimum ₹ 1.5 lacs investment for this IPO. Investor can wait and watch for better IPO’s in 2013.
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Suresh
IPO – Esteem Bio organic food processing Ltd
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