06 Dec 07 Transformers and Rectifiers (India) Limited IPO
Transformers and Rectifiers (India) Limited IPO opens for subscription tomorrow (Friday, December 07, 2007). The IPO closes for subscription on Wednesday, December 12, 2007. Transformers and Rectifiers IPO price band has been fixed between Rs 425 to Rs 465 per share of face value Rs. 10 each. The lot size is 15 shares. Transformers and Rectifiers (India) Limited is a premier Indian Transformer Manufacturing Company that has been in existence for over 2 decades. Intime Spectrum is the registrar for the Transformers and Rectifiers IPO. Post IPO, the shares of Transformers and Rectifiers (India) Limited will be listed both on the NSE and the BSE. ENAM Securities is the lead manager for the Transformers and Rectifiers IPO. For Transformers and Rectifiers IPO subscription details and Transformers and Rectifiers IPO Allotment Status, check this blog frequently.
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Transformers and rectifiers – reated 4 – better performance- compared to its peer – should give good return to investors like indotech / emco
I have gone through the risk factors in the prospectus. It is scary. The promoter and associated companies have tax & labour litigations; the pollution control board has issued notices (answers were not satisfactory), company had negative cash flows in 04, 06 & first half of 07; objects of the issue (greenfield mfg facility at Moraiya) have not been appraised by any bank, deployment of funds is entirely at the sole discretion of the company, no prior experience of manufacturing 220kv or more transformers.
There are more. Looking at all these, I do not have confidence in this company and will not be investing. Not that my opinion matters! Nevertheless, I thought of sharing the view.
Thanks.