Tijaria Poly IPO: Pricing looks cheap, but not attractive

IPO scan by VS Fernando

Notwithstanding encouraging peer group discounting on the trading screen, Tijaria Poly is hampered by adverse raw material prices and depleting rupee which could dent a hole in its profitability in the near term.

 

 

 

 

 

 

 

 

The Issue

The present IPO is a fresh Issue of 1 cr equity shares of Rs.10 each at a fixed price of Rs 60 a piece aggregating to Rs 60 cr. The quantum of IPO works up to 42.3% on the post-issue equity of Rs 23.63 cr.

Issue Objective

The main object of the IPO is to part-finance the company