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Subscribe to Thangamayil IPO, target of Rs 90: Swastika
Swastika Investmart has come out with a research report on Thangamayil Jewellery IPO (initial public offering). The research firm has recommended applying to the IPO with price target of Rs 90.
Swastika Investmart has come out with a research report on Thangamayil Jewellery IPO (initial public offering). The research firm has recommended applying to the IPO with price target of Rs 90.
The initial public offering (IPO) of Rs 28.75 crore opened for subscription. The price band for the issue is at Rs 70-75 per equity share. The issue will close on January 29.
Swastika Investmart report on Thangamayil Jewellery IPO -
Thangamayil Jewellery is a leading Jeweller in the city of Madurai and intends to utilize the IPO money to expand its operations in cities like Tuticorin, Kovilpatti and Sivakasi etc. and also to renovate is outlet in Madurai. But, the company's operations are limited to the state of Tamil Nadu as of now and company does not have any immediate plans to expand its operations in major cities of the country. Still, we recommend applying to the IPO with price target of Rs 90 after listing in medium term considering its strong financial performance in past.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
