Kiri Dyes not for serious investors

CNBC-TV18’s Executive Editor, Udayan Mukherjee – Dyes and chemicals is not my favourite space. It is a very competitive business, lot of unorganized sector and even globally I think it’s very fragmented. It’s a tough business to make a lot of money out of.

Kiri Dyes and Chemicals does not come at a very good price point. At Rs 150, I am told trading at maybe northwards of 12 P/E for FY09 and that is not cheap for this kind of commodity business.
 
It doesn’t seem to me as the biggest IPO blockbuster. It may list around the issue price but at that price point I don’t think this is a company worth chasing for great returns. Some punting activity might happen here or there but not for serious investor.