Aster Silicates Ltd IPO (Aster Silicates IPO) Detail

Jun 24, 2010 - Jun 28, 2010

Incorporated in 1996, Aster Silicates Ltd is engaged in the business of manufacturing of sodium silicate which includes food grade sodium silicate, special drilling grade silicate and detergent grade silicate. Aster Silicates produce sodium silicate both in glass and liquid form. Food grade sodium silicate is used in the manufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt, cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drilling grade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields. The sodium silicate manufactured by Aster is also used in water-proofing, infoundries and for investment casting, paper, silica gel, textiles and detergents.

Currently, Aster operate from two units in Gujarat having aggregate installed capacity of 150 MT of glass/day. Unit I has three furnaces with an average combined capacity of 100 MT of glass/day. Unit II has a single furnace with a capacity of 50 mts of glass/day, which is also triple pass regenerative and recuperative end fired glass furnace.

For the proposed project, Company intends to install a special designed triple pass regenerative and recuperative Furnace of 100 MT capacity each capable of working on biogas with a facility of having duel fuel arrangement for working on other fuel like Natural Gas etc. The furnace shall be capable of being operated both manually and automatically, and shall also possess versatility for manufacturing Sodium Silicate in glass and liquid format. For the expansion of manufacturing facilities at Bharuch, company initially intend to use Natural gas from Gujarat Gas Company Limited as a source of fuel. However, gradually, they intend to shift the fuel source to Biogas, and have Natural gas as a standby arrangement.

Company Promoters:

Company’s Promoters are:

1. Mr. Mahesh A. Maheshwari and
2. Mrs. Namrata M. Maheshwari

Company Financials:

ParticularsFor the year/period ended (Rs. in Lacs)
30-Sep-0931-Mar-0931-Mar-0831-Mar-0731-Mar-0631-Mar-05
Total Income3031.093409.131699.42832.76864.62815.69
Profit After Tax (PAT)232.20254.9165.7914.24(8.61)35.87

Objects of the Issue:

The object of the issue are:

1. Expansion of Manufacturing facilities;
2. Additional Working Capital Requirements;
3. Public Issue expenses.

Aster Silicates IPO Details

IPO Opening DateJun 24, 2010
IPO Closing DateJun 28, 2010
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹112 to ₹118 per equity share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, NSE
Issue Size4,500,000 Eq Shares of ₹10
(aggregating up to ₹53.10 Cr)

Aster Silicates IPO Lot Size

The Aster Silicates IPO market lot size is 50 shares. A retail-individual investor can apply for up to 33 lots (1650 shares or ₹194,700).

ApplicationLotsSharesAmount (Cut-off)
Minimum150₹5,900
Maximum331650₹194,700

Aster Silicates IPO Subscription Status (Bidding Detail)

The Aster Silicates IPO is subscribed 4.47x times on Jun 28, 2010 17:00. The public issue subscribed 7.41x in the retail category, 0.01x in the QIB category, and 12.46x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
QIB

0.01x

NII

12.46x

RII

7.41x

Total

4.47x

Aster Silicates IPO Prospectus

Aster Silicates IPO Rating

115
3.2
Rating:Rated 3.2 stars

Vote Here ...

Aster Silicates IPO Listing Date

Listing DateWednesday, July 28, 2010
BSE Script Code533219
NSE SymbolSHRIASTER
Listing InB
ISININE900K01012
IPO Price₹118 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹118.00
₹127.70
₹123.50
₹225.00
₹199.10
36,484,939
NSE
₹118.00
₹128.05
₹123.40
₹241.90
₹205.55
59,469,318

Aster Silicates IPO Reviews / Ratings

  • Hem Securities - Avoid

Company Contact Information

Aster Silicates Ltd
A- 602, Fairdeal House,
Swastik Char Rasta, Off C G Road,
Navrangpura, Ahmedabad – 380 009, Gujarat

Phone: + 91 79 26422840
Email: ipo@astersilicatesltd.com
Website: http://www.astersilicatesltd.com

Aster Silicates IPO Registrar

Sharepro Services Private Limited
   13 AB Samhita Warehousing Complex,
   Off Andheri-Kurla Road, Sakinaka,
   Andheri (E), Mumbai - 400 072.

Phone: 9999999999
Email: aster.ipo@shareproservices.com
Website: http://

Aster Silicates IPO FAQs

  1. What is Aster Silicates IPO?

    Aster Silicates IPO is a main-board IPO of 4,500,000 equity shares of the face value of ₹10 aggregating up to ₹53.10 Crores. The issue is priced at ₹112 to ₹118 per equity share. The minimum order quantity is 50 Shares.

    The IPO opens on Jun 24, 2010, and closes on Jun 28, 2010.

    Sharepro Services Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

  2. When Aster Silicates IPO will open?

    The Aster Silicates IPO opens on Jun 24, 2010 and closes on Jun 28, 2010.

  3. What is the lot size of Aster Silicates IPO?

    Aster Silicates IPO lot size is 50 Shares and the minimum order quantity is 50 Shares.

  4. How to apply for Aster Silicates IPO?

    You can apply in Aster Silicates IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

  5. When Aster Silicates IPO allotment?

    The finalization of Basis of Allotment for Aster Silicates IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Aster Silicates IPO allotment status.

  6. When is Aster Silicates IPO listing date?

    The Aster Silicates IPO listing date is on Wednesday, July 28, 2010.

Aster Silicates IPO Message Board

Ranked Members  Ranked Members

Loading...
283. bnsahu |Sep 15, 2010 09:40
INTRADAY for 15th Sept.2010

***BUY Astersilicate

above 56/-
stoploss 54.40
TARGET 59.20
***
TECHNICALs:
OVERSOLD situation
will likely to give Northward movement...
=============================

***USE STRICT STOPLOSS****
HAPPY DAY TRADING.

282. bnsahu |Sep 14, 2010 23:30
NOW CROWD IS RUNNING FROM NEW CAPITAL MARKET ISSUE ???????
========================

**** Due to excessive speculation on Listing
it went upto 258/- on listing at 128/-
for a issue price of 118/-.
NOW Major selling is over by the trapped
operators/players as indicate by the
low volumes. BURNT PLAYERS are
noising the Management is not good.

NOW LOOK FOR MANAGEMENT COMMENT AT MONEY CONTROL. AND WHAT WILL YOU SAY ?
See 40% sales growth this year: Aster Sillicates
Published on Thu, Jul 29, 2010 at 11:42 | Updated at Thu, Jul 29, 2010 at 12:12 | Source : CNBC-TV18

Whereas above Balance-sheet data
shows very clear picture of the Co. &
its future prospect SUBJECT TO THE
BALANCE SHEET SUBMITTED BY THE
MANAGEMENT IS TRUE...!!!!
281. bnsahu |Sep 13, 2010 21:07
TODAY i.e. 13th Sep.2010
it closed at last closing
of 58/- which was a stron
support
280. bnsahu |Sep 11, 2010 12:45
Saturday, September 11, 2010
ASTERSILICATE - A Delivery Pick
ASTERSILICATE :

A Short Term Delivery Buy :

.... March '10...........March' 09.............GROWTH
..... 12 Months..... .....12 Months

Sales 61.87 crs......... 32.91 crs............. + 88%

GPM
( % ). 17.22....... ..... 12.82................ + 34.32%

NP.... 4.42 crs....... ....2.55......... ....... + 73.33%

****
PROJECTED
NET PROFIT Rs.10 crs for current year from MFG.BUSINESS.
+
EARNING from carbon credit Rs.10 crs expected..

****
SO, decide your self and BUY accordingly.
HAPPY TRADING.

**** Due to excessive speculation on Listing
it went upto 258/- on listing at 128/-
for a issue price of 118/-.
NOW Major selling is over by the trapped
operators/players as indicate by the
low volumes. BURNT PLAYERS are
noising the Management is not good.
Whereas above Balance-sheet data
shows very clear picture of the Co. &
its future prospect SUBJECT TO THE
BALANCE SHEET SUBMITTED BY THE
MANAGEMENT IS TRUE...!!!!
--
B.N. Sahu

http://shares.tk/
http://blog.babysoft.in/
279. Ravi, Bangalore |Sep 2, 2010 13:58
278. bnsahu

You have your own system for buying & selling shares. Very nice.

Chart giving target of sub-4. However, chart is not everything. Whether it moves because of fundamentals or fixing, we don't know.

Don't allocate more than 10% of your resources to this company.
278. bnsahu |Sep 1, 2010 08:45
Wednesday, September 1, 2010
ASTERSILI - check list
======================

NOW Mkt.cap Rs.86 crs
on 31st Aug 2010

Vs

TRUE Net Value Rs.95.47 Crs.
**************
**
**
FOR DELIVERY buy above Rs.59/- only
stoploss Rs.56/-
Target Rs.90/-.
***
HAPPY INVESTING.
277. bnsahu |Aug 31, 2010 20:13
Mr.Ravi,

Thanks for your comments.

You may correct for projecting the price of Rs.3.45. But I am not booking loss at the moment due to following facts :

- HDFC Securitie is using the data of Capital Market whereas I am taking the data of Capital Market and Asian Cerc both. Both are having different analysis.

- It is very sorrow to note that HDFC securities does not have any self data bank for analysis. It had bought 2.64% shares of Raymond at very high price. Raymond Stock is very unliquid. The story of buying is hidden real estate value.
Whereas DLF and UNITECH are crying for profit in reaestate.
Qtrly.report of Raymond is also negative.

- ACTUALLY many shares like onmobile and wockartpharma are
very highly priced. Today my lower target of onmobile touched.

- WHEN Satyam Computer crashed from 180/- to 11/-, I was very much bullish and my upper target achieved at 114/-.
AT that time many are bearish.

- Since Astersili is in BEARGRIP with help of rules and money of investors are being sucked very smartly, it is the time to take special care while entering in the market.

- I AM ANALYSIING THE DATA PROVIDED BY THE CO., FINANCIAL
MAGZINES AND OTHER AVAILABLE SOURCES. IF EVERY THIRD CO. IS SATYAM COMPUTER, IT WILL BE DANGEROUS FOR EVERYONE. SO BE CARE. AND LOOK ON RIL ONLY....
276. Ravi, Bangalore |Aug 31, 2010 17:40
1. The company issued 0.33-crore equity shares to the promoter group at issue price of Rs 10 in the last one year.

For more details, copy & paste this link in URL.

http://hdfcsec.com/IPO/IPOStory.aspx?Heading=IPOAnalysis&NewsID=23b00e40-2f8b-4c06-a0a5-f1dea1bd5a56

2. Compared to peers, its valuation appears to be Rs.35.

3. Chart shows a price target of Rs.3.45.

Now you need to take your decision on this scrip.
275. Ravi, Bangalore |Aug 31, 2010 13:36
272. bnsahu

Why Capital Market did not consider accruals from IPO for EPS? Perhaps, this company may be rising capital for its working capital requirement. If they rise funds to meet working capital requirement, it is strict NO-NO for investment.
274. bnsahu |Aug 31, 2010 08:42
NOW,
===
MARKET CAP. Rs.90.43 crs.

vs.

ACTUAL VALUE Rs.95.49 crs.

NET PROFIT RATIO to MKT CAP. 22.11% (projected).
273. bnsahu |Aug 29, 2010 21:13
A NEW LOOK OVER ASTERSILI:

MKT CAP. AS ON 27TH AUG 2010
is Rs,95crs..
****
COMPARE WITH VALUE
****
CASH in hand Rs.53.10 crs. (IPO amt)
NET BLOCK...Rs.19.98 crs. (As on 31.10.2010)
NET CURR.
ASSETS...........Rs.10.41 crs. " "
PROJ.NP.........Rs.10.00 crs For the Curr.Year
*****
TOTAL
VALUE Rs.95.49 crs.
272. bnsahu |Aug 28, 2010 09:36
Mr. Ravi,

Thanks for your comment.

On old equity its EPS is 4.27 upto March 10.
Capital Market is showing EPS at 2.90 after IPO without giving the benefits of IPO amt.of Rs,53.1o crs..The co.
will have certain benefits with this interest free amount
and will accrue more profits.

THEREFORE THE PRICE OF STOCK CAN GO VERY EASILY UPTO Rs.120 TO 140 LOOKING AT PROJECTED EPS OF RS.10/- AND INDUSTRY'S AVERAE PE..

Certainly the stock is in BEARGRIP and price can move any where in lowerside. BUT falling wedge is generating the bullishness. THE SHARE IS FALLING WITH VERY LOW VOLUME IN DELIVERY. It is also a plus point.
ANY GOOD NEWS CAN PUSH THE PRICE UPWARD VERY EASILY.

I HAD BOUGHT THE STOCK AT 85/- ONLY. AND I AM LOOSING THE MONEY PRESENTLY.

The brokers are not giving the trading limit against these shares.

NOW LOOK FOR OTHER STOCKS - ONMOBILE, RAYMOND, WOCHART PHARMA WHICH ARE ON VERY HIGH PE.. AND WILL CERTAINLY CRASH UPTO REALVALUE IN VERY SHORT PERIOD.

BELOW ISSUE PRICE STOCKS ARE RPOER, NHPC etc..

INSIDER TRADING SHARES ARE RELIANCE,SATYAM COMP. and many others.. THE PRICE OF ICICI BANK IS MANIPULATED IN COMPARISON TO OTHER PSU BANK AND PVT BANKS.

Reliance is now in beargrip although it has shown very good profit in last qtr.. And Reliance will spoil the market as whole..

There is many hidden news in share market and I love to talk knowledgeable persons ike you..
271. Ravi, Bangalore |Aug 27, 2010 13:25
269. bnsahu

If industry average P/E is 14, what is this company's P/E? At the time of listing, I had calculated its fair value at Rs.35 based on relative valuation. I have not analysed in detail.

LTP is 66.75. It will face selling pressure in 76.5 & 99-106 zone.

It is showing Rs.3.45 as support level.

It is falling vertically. Hence, down-target cannot be given.
270. bnsahu |Aug 27, 2010 08:50
industry average PE is 14..
its projected earning 10 EPS by the management.
LOOK for reasonable price appreciation.
***
FOR INTRADAY BUY ABOVE ONLY 67.10
STOPLOSS 66.20
TARGET 69.35.

****
USE STRICT LOSS WHILE TRADING.
HAPPY DAY TRADING.
269. bnsahu |Aug 22, 2010 00:25
THIS IS FOR MR RAVI BANGALORE :
******************************
ASTERSILI is a cash rich co. having
Rs.53.10 crs. from its recent IPO..
Today's market capitalisation is
Rs.109.53 crs. out of which 49.8% shares
belong to promoter.
**
It is serving to food, detergent and oil
drilling industries by supplying required &
own manufactured silicates.
ROCE is 36.9% till March 10.
***
PROJECTED EPS is 10 and Return on
Mkt Cap is 20% expected.
***
So it is a value pick at current price of
Rs.73.70.
***
Technically it looks, the stock has completed
the downtrend and sideway movement has
started. In low Qnty. it can be bought for
investment for short-term. Target is 123/-.
***
HAPPY TRADING.
268. Tamil nadu |Aug 20, 2010 20:09
Ha. Ha. Ha. how this stock, is go down and down, always better tamil nadu stock like thangamayil jewellery, it is good fundamental and good return to investor and good profit earning company in next quarter, happy investing.
267. bnsahu |Aug 20, 2010 08:45
A NEW GEM FOR VALUE is ASTERSILICATE..
****
Data from Asian Cerc:
Upto March 10 -Sales Rs.81.67 crs.
Net Profit Rs.4.42 crs.
OPM 20.37% & NPM 7.14%
EPS 4.27..
****
Projection by Management on IPO:
Sales Rs.100 crs.
NPM 10%
Net profit Rs.10crs. + CC Rs.10crs.
EPS 10/-.
****
NOW it is your choice to buy or not at current price.
****
For intraday on 20thAug ...BUY ABOVE 77.45 ONLY
stoploss 76.70 tgt 79.80 & 80.50.....
++Above 79.80, UPPER freeze is possible.
***
HAPPY TRADING.
266. bnsahu |Aug 17, 2010 22:45
A BARGAIN BUY - ASTERSILI !
CURRENT EPS 2.90 AND PROJECTING EPS 10/- ON USE OF 53.10 CRORES OF IPO. ALL DEBTS WILL BE PAID AND EXPANSION WILL PLAY THE GAME.... NOTHING TO LOOSE AT THIS PRICE......

***Technially it has just completed 13days of fall. Reversal of trend is possible. A pull back target is 123/- in due course of time. Have patience.
265. bnsahu |Aug 16, 2010 12:52
FOR INTRADAY ONLY ON 16TH AUG 1980 -
BUY ABOVE 77/- STOPLOSS 76.70 TARGET 78.50 AND 80.90
USE STRICT STOPLOSS WHILE TRADING.
264. bnsahu |Aug 15, 2010 21:07
DEAR, THANK YOU FOR COMMENT. IF THERE ARE STILL KP AND HM, THE STOCK WILL CRASH AT ANY PRICE. GOVT.MUST LEARN FROM SATYAM EPISODE. IS THE PERIOD OF BOGUS BALANCE SHEETS AND FINANCIAL MANIPULATIONS. UDDYAN AT CNBC TOLD THAT 75-80 IS FAIR PRICE FOR THE ISSUE? WHY THE SEBI PERMITTED AT 118/- CROSS CHECKING IS REQUIRED TO SAVE THE INVESTORS..







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