Fineotex Chemical IPO

Fineotex Chemical IPOFCL (Fineotex Chemical ) is getting into the capital market which has a public issue of 4211160 equity stocks for cash at a premium by 100per cent book building way. The price band of issue is fixed at Rs 60-72 for each equity , The price band of the issue is Rs.60 (lower level) to Rs.72 (higher level).Face value of share Rs 10 each.

FCL is in the business of production specialty chemicals as well as enzymes utilized by the textile and leather, water treatment, garment industry, paper, paint, construction, adhesives, agrochemical as well as other industries.

Fineotex Chemical ’s present plant, having an installed capability of 5,000 MT / annum, is situated at Mahape in Navi Mumbai. The firm plan to setup a fresh producing facility, at Khopoli in Maharashtra, for that manufacture of specialty chemicals as well as enzymes with a capability of 13,125 MT/annum.

For the 6 months closed September 30, 2010, the firm placed a complete income of Rs 13.48 cr and revenue after tax of Rs 2.15 cr .

The current issue is being designed to increase money for setting up of a production facility for manufacturing of specialized chemicals, establishing of sales-office in Mumbai as well as meeting capital need, public issue expenses as well as common business purpose

Face Value; Rs.10
Tick Size;
Minimum Order Qty: 90
Market Lot: 90
Issue Type is Book Building,

IPO Grade for Fineotex Chemical

CARE allocated IPO grade ‘2/5’ to the IPO of FCL, this shows that the fundamentals of the issue are BELOW average . view; It is not a better stock for long term invest some chance for down up to 35 price level by vm.venkatesh

Conduct details

Address: 42 & 43, Manorama Chambers, S V Road,
Bandra (West), Mumbai–400050
Phone number; 22-26559174 / 75  Fax detail;. 22-26559178
Email address;ipo@fi
Website Url;

Book Running Lead Manager

Indbank Merchant Banking Services are the Book Running Lead Manager for FCL ltd.

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