Visit http://indiaer.blogspot.com/ for complete details note of the IPO of Gravita India Ltd.
Issue Highlights
Price Band
Minimum Bid Lot Size : 50 Equity Share
IPO open during
Recommendation
Book Running Lead Manager : Keynote Corporate Services Ltd.
To list on
IPO Grading
PE
Market Cap post-listing
Market Cap of Free Float : Rs45.07Cr or $10.11mn (based on the cap price)
(* Being associates of the BRLM to this IPO, we are unable to give a recommendation)
** based on FY10 fully diluted EPS.
Executive Summery
· Established in 1992, Gravita India Limited is in the business of manufacturing lead metal by recycling and smelting process and other lead products. The company’s manufacturing capacity is located in Jaipur.
· Lead is mainly consumed by the battery industry (contributes 80% of total demand) while rolled and extruded products and pigments are the other significant consumers.
· One third of lead production in India comes from sources like mining and balance from secondary sources mostly recycling. India lacks lead ore reserves and hence it necessitates large scale imports and secondary sources such as recycling.
· Gravita India is specialized in producing high quality pure lead ingots with minimum purity level of 99.97% by weight. Its products include Pure Lead / Lead Alloys, Lead Oxides (Litharge, Red Lead & Lead Sub-Oxide).
· The company has presence across Africa, Asia, Central America and CIS (Commonwealth of Independent States) countries.
· It plans to setup additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra and invest in overseas ventures as well as setting up manufacturing facilities across different countries.
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