The price band for the issue is between Rs 80 and Rs 85. The issue will close on February 5, 2008.

Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts said don't apply.

Experts/Company	Poll Result	Experts view
R S Iyer (KR Choksey)	Don’t Apply	People should stay away from IPOs for the time being. They have to wait till the listing of Reliance Power.   Depend on the stability of secondary market, one can enter the capital market as at this stage, people can get good companies at cheap price in current market situation in secondary market. So why should apply for this company at such a high price?
SP Tulsian (Investment Advisor)	Don’t Apply	Tulsi Extrusions is presently manufacturing 10,483 MT of PVC Pipes which is a low margin business, wherein raw-material costs constitutes over two-third. Also, this sector has lot of competition from the unorganized sector. For FY 07, topline of the company was at Rs 60 crore, of which Rs 23 crore, came in from trading turnover. PAT for the year, was at Rs 4.16 crore, which resulted into an EPS of Rs 7.35.   Prior to these, bottomline was below Rs 10 lakhs, till FY 05, which rose to Rs 1.23 crore in FY 06, on a topline of Rs 17 crore. Obviously, trading turnover was missing in all these years. Strangely, inspite of such poor performance, the management of the company went ahead with issue of two bonus issues in year 2006. On 31-03-06, bonus of 16.66% was issued, while on 23-12-06, bonus of 50% was issued. Strangely, same has been written as 600% and 200%, respectively on page 15 of RHP in capital history of the company. Due to this, equity, rose to Rs 5.68 crore and reserves came down to Rs 5.98 crore, giving book value of Rs 20.50.   To cover up this, 8 months ending 30-11-07, shows a topline of Rs 42 crore, with PAT of Rs 4.72 crore. How come this sudden jump in profitability?   Kisan Mouldings, a listed company, is engaged into manufacturing PVC Pipes and fittings and furniture. This company, for December 07 quarter, had reported a topline of Rs 36 crore and PAT of Rs 1.88 crore, on equity of Rs 7.04 crore, giving an EPS of Rs 2.67. FY 08 EPS is likely to above Rs 9. Promoters stake of 72% is also quite respectable. Inspite of this, the share is now ruling at Rs 45 per share, ruling at a PE multiple of close to 5.   The sector enjoys very low discounting, in single digit, and this issue therefore, is very richly priced. Better plays are available in the secondary market and it would be advisable to buy existing stocks.

The issue comprises a reservation of one lakh equity shares and the net issue to the public would be of 56,00,000 shares.

The issue would constitute 45.62 per cent of the fully diluted post issue paid-up capital of the company. The shares of the company are proposed to be listed on both the BSE and NSE.

Out of the total Equity Shares being offered in the issue, 50 per cent will be allocated to qualified institutional buyers, 15 per cent will be allocated to non-institutional investors and 35 per cent will be allocated to retail investors.

The proceeds from the proposed IPO will be used to expand their manufacturing facilities at Jalgaon, to meet their long-term working capital requirements, purchasing of branch offices, provision of contingencies, general corporate purposes and to meet the issue expenses.

The issue is lead managed by Almondz Global Securities Ltd and the registrar to the issue is Intime Spectrum Registry Ltd.