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Minar International, a leading exporter of made-ups to the US markets, is open for subscription with an initial public offer, IPO of 69,23,077 equity shares of Rs 10 each through 100% book building process in the price band of Rs 108 to Rs 115 per equity share.

The issue closes on September 29, 2006. The issue will constitute 28.49% of the post issue paid-up capital of the company.

Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts opinion were mixed.

Experts/Company	Poll Result	Experts view
R S Iyer (KR Choksey)	Apply	There is no counter demand for Minar International IPO. It is not an attractive. Investors should take precaution before applying.
Manish Bhatt (Prabhudas Lilladher)	Apply	Minar International is an average issue. One can apply for listing gains.
SP Tulsian (Investment Advisor)	Don't Apply	Minar International is a bad issue. Investors should ignore this issue.
*Angel Broking	Don't Apply	Investors should ignore Minar International IPO

 

 

 

 

 

 

 

*(View taken from their reports)

The company proposes to utilize the net proceeds of the issue for its expansion plan involving setting up of a wider width fabric processing unit - in SIPCOT Industrial Growth Center, Perundhurai, Erode Dist, Tamil Nadu. This strategic location is selected because the highest amount of grey fabrics is woven around this area of Tamil Nadu particularly in reference to fine and super fine fabric categories.

Keynote Corporate Services is the BRLM for the issue and Intime Spectrum Registry is the registrar. The equity shares are proposed to be listed on BSE and NSE.