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Nissan Copper IPO poll: Majority says avoid
Nissan Copper is open for subscription with an initial public offering of 64.10 lakh shares of Rs 10 each aggregating to Rs 25 crore. Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Majority said don’t apply.
Nissan Copper is open for subscription with an initial public offering, IPO of 64.10 lakh shares of Rs 10 each aggregating to Rs 25 crore.
The price band has been fixed between Rs 33 and Rs 39 per equity share.
Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Majority said don't apply.
Experts/Company
Poll Result
Experts view
R S Iyer
(KR Choksey)
Don't Apply
Nissan Copper is an average issue. Investors should ignore this issue. There is no charm in the issue.
Manish Bhatt
(Prabhudas Lilladher)
Apply
Nissan Copper is an average issue. One should subscribe to this issue for listing gains.
SP Tulsian
(Investment Advisor)
Don't' Apply
Nissan Copper is below the average issue. It is not good issue. Investors should ignore this issue.
The funds raised are for the expansion of the company's copper product manufacturing capacities.
The total cost of the project is Rs 35 crore of which Rs 10 crore is part-funded by State Bank of India by way of a term loan.
50% of the net public issue shall be allocated to qualified institutional buyers, not less than 15% to non-institutional bidders and not less than 35% to the public.
Of the total offer, 10% is reserved for the employees of the company.
The equity shares of the company are proposed to be listed on the Bombay Stock exchange and the National Stock Exchange.
Keynote Corporate Services is the book running lead manager and Bigshare Services is the registrar to the issue.
