Indowind Energy Limited IPO Message Board (Page 4)

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VISHAL
4. VISHAL  Aug 13, 2007 19:14
Indowind Energy Ltd will enter the capital markets on August 21 with a public issue of 1,25,00,000 equity shares of Rs 10 each. Out of this, 2,60,000 shares are reserved for employees, leaving a net issue of 1,22,40,000 shares for the public.

The 100% book built issue is priced in the Rs 55-Rs 65 per share band

UTI Securities is the book running lead manager to the issue that closes August 24. Canara Bank is the co-book running lead manager and Keynote Corporate Services the advisor.

The company plans to utilize the IPO proceeds for expansion.

As the name suggests, Indowind Energy is into wind farming. The company began operations in 1995 and has a capacity of 16.825 mega watts currently and 17.915 MW for clients and group companies whose operations and maintenance is with it.

Indowind Energy supplies power to the Tamil Nadu Electricity Board and companies in Karnataka. Its client list includes Karnataka Breweries, Hindustan Coca Cola Beverages, United Breweries, H&R Johnson, Delphi Automotive, and Spicer India.

It claims to be the first company in India in the wind energy sector to get carbon credit certification from the United Nations Framework Convention for Climatic Change.

The company is implementing 9 MW of additional capacity at Chitradurga in Karnataka, and has acquired 125.23 acres of land for this purpose. The company proposes to purchase hydraulic cranes, foreclosed existing lease accounts with banks and purchase existing running windmills from banks.

The company’s total income for the year ended June 30, 2007 stood at Rs 27.57 crore and profit after tax Rs 6.58 crore, compared with Rs 19.83 crore and Rs 4.14 crore, respectively, for the year ended June 2005.


POST ISSUE DATA ARE AS FOLLOWS
NO OF SHARES= 4.8956886 CRORE
PAT = 6.58 CRORE
EPS=6.58/4.89 = 1.34
SO P/E = 65/1.34 = 48.50 ( AT CUT OFF )
DONT APPLY
HAPPY IN NOT INVESTING
REGARDS
umesh
3. umesh  Aug 13, 2007 12:53
give me more detail and suitable of this ipo
Ranga
2. Ranga  Aug 13, 2007 09:46
HI,

Non Conventional Enery Business is very good. But, we have to look into the background and credibility of the promoter. What happened to NEPC which was once upon a time market leader. Now, there are aligations against Tantri of Suzelon for diverting IPO money for some other business activity other then the purpose for which it was raised for.

Please check the promoters creditworthiness and then apply.

Regards
Ranga
VISHAL
1. VISHAL  Aug 13, 2007 09:45
ACCORDING TO MY CALCULATION P/E COMES OUT 40+ (on post issue equity base of 4.8956886 crore share)AT UPPER PRICE.
Any report with any 1
Happy investing.







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