Fineotex Chemical Ltd IPO (Fineotex IPO) Detail

February 23, 2011 - February 25, 2011

Fineotex IPO is a book built issue of Rs 29.48 crores.

Fineotex IPO bidding started from February 23, 2011 and ended on February 25, 2011. The shares got listed on BSE on March 11, 2011.

Fineotex IPO price band is set at ₹60 to ₹72 per share. The minimum lot size for an application is 90 Shares. The minimum amount of investment required by retail investors is ₹6,480.

Indbank Merchant Banking Services Limited is the book running lead manager of the Fineotex IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Fineotex IPO RHP for detailed information.

Fineotex IPO Details

IPO Date February 23, 2011 to February 25, 2011
Listing Date March 11, 2011
Face Value ₹10 per share
Price Band ₹60 to ₹72 per share
Lot Size 90 Shares
Total Issue Size4,211,160 shares
(aggregating up to ₹29.48 Cr)
Issue Type Book Built Issue IPO
Listing At BSE

Fineotex IPO Reservation

Fineotex IPO a total of 4,211,160 shares are offered. QIB: 2,105,580 (50.00%), RII: 1,473,906 (35.00%), NII: 631,674 (15.00%).

Anchor Investor Shares Offered-
QIB Shares Offered2,105,580 (50.00%)
NII (HNI) Shares Offered631,674 (15.00%)
Retail Shares Offered1,473,906 (35.00%)
Total Shares Offered4,211,160 (100%)

Fineotex IPO Lot Size

Investors can bid for a minimum of 90 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 90 ₹6,480
Retail (Max) 30 2700 ₹194,400
Lot Size Calculator

About Fineotex Chemical Ltd

Incorporated in 2004, Fineotex Chemical Limited is an ISO 9001:2000 certified Company engaged in business of Specialty Chemicals and Enzymes for various industries.

Fineotex Chemical produces and provides Specialty Chemicals and Enzymes to Textile & Garment Industry, Construction Industry, Leather Industry, Water Treatment Industry, Agrochemicals, Adhesives and others. FCL manufactures over 100 products for various Industries. Company's manufacturing facilities situated at Mahape in Navi Mumbai.

FCL major customers include Clariant Chemicals India Limited, Pidilite Industries Limited, Croda Chemicals India (P) Limited (formerly ICI India Limited), Rashtriya Chemicals & Fertilizers Limited, The Bombay Dyeing & Mfg. Co. Limited., Raymond Group, Grasim Industries Limited and others. FCL has global presence in countries like Bangladesh, Indonesia, Bulgaria, Pakistan, Colombia, Singapore, etc. Also,FCL products are sold in Indian cities like Mumbai, Balotra, Bhilwara, Delhi, Ludhiana, Tirupur, Karur, Erode, etc.

Objects of the Issue (Fineotex IPO Objectives)

The objects of the Issue are to:

1. Setting up of Manufacturing facility for production of specialty chemicals;
2. Setting up of Sales Office in Mumbai;
3. Margin Money for Working Capital;
4. Meeting Public Issue Expenses;
5. General Corporate Purpose.

Fineotex IPO Subscription Status (Bidding Detail)

The Fineotex IPO is subscribed 1.57 times on Feb 25, 2011 5:00:00 PM. The public issue subscribed 4.38 times in the retail category, 0.00 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Fineotex Chemical Ltd

CARE Limited has assigned an IPO Grade 2 to Fineotex Chemical Ltd IPO. This means as per CARE, company has 'Below Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for Fineotex Chemical Ltd.

Fineotex Chemical Ltd IPO Tags:

Fineotex Chemical Ltd IPO, Fineotex Chemical IPO, Fineotex Chemical IPO Bidding, Fineotex Chemical IPO Allotment Status, Fineotex Chemical IPO drhp and Fineotex Chemical IPO listing.

Fineotex IPO Prospectus

Fineotex IPO Rating

Rating:Rated 2.6 stars
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Fineotex IPO Listing Details

Listing Date March 11, 2011
BSE Script Code 533333
NSE Symbol FCL
ISIN INE045J01026
Final Issue Price ₹70 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Fineotex IPO Contact Details

Fineotex Chemical Ltd
42 & 43, Manorama Chambers,
S. V. Road,
Bandra (West), Mumbai�400050
Phone: +91-22-26559174 / 75
Email: ipo@fi neotex.com
Website: http://www.fi neotex.com

Fineotex IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: fclipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Fineotex IPO - Buy or Not

Fineotex IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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Fineotex IPO FAQs

Fineotex IPO is a main-board IPO of 4,211,160 equity shares of the face value of ₹10 aggregating up to ₹29.48 Crores. The issue is priced at ₹60 to ₹72 per share. The minimum order quantity is 90 Shares.

The IPO opens on February 23, 2011, and closes on February 25, 2011.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE.

The Fineotex IPO opens on February 23, 2011 and closes on February 25, 2011.

Fineotex IPO lot size is 90 Shares, and the minimum amount required is ₹6,480.

You can apply in Fineotex 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

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

The Fineotex IPO listing date is on March 11, 2011.
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Fineotex IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Most Liked Members



54. Ravi, Bangalore |   Link |Mar 28, 2011 11:19:49 AM (300+ Posts)
53. KK Natarajan

No, not visited. I am likely to visit again next month. Next money I have a plan to visit not only Ireland but alos Europe.

It appears honeymoon is over for Fineotex Chemical (205). Facing resistance above 216.

It could fall to 165 & then 145.
53. KK Natarajan |   Link |Mar 23, 2011 8:29:19 PM (500+ Posts)
Ravi, Bangalore,
I have heard Ireland is a nice place. Did you visit places like The Cliffs of Moher, Connemara Countryside, Blarney Castle, The Lakes of Killarney, Blasket Island, Powerscourt Gardens etc.,
By the by, the whole of Ireland would have enjoyed their performance in the recent cricket world cup , especially their win over England. Isn't it?
52. Kapil T |   Link |Mar 23, 2011 4:13:42 PM

Hope you managed to see a few places around, its a nice place to visit. I am based in Scotland, never been to Ireland though.
51. Ravi, Bangalore |   Link |Mar 23, 2011 3:52:40 PM (300+ Posts)
50. KK Natarajan

I went to Ireland. It is typical 9 - 5 work there unlike here. Even Friday afternoon we used to leave office for week-end.
50. KK Natarajan |   Link |Mar 23, 2011 2:53:43 PM (500+ Posts)
Dear Ravi, Bangalore,
Welcome back home. Which country did u visit? Did you enjoy the trip or was it 100% official?
49. Ravi, Bangalore |   Link |Mar 23, 2011 12:19:54 PM (300+ Posts)
44. SkDash

I was in abroad for 10 days on duty.
48. rohit sachdev |   Link |Mar 16, 2011 1:44:17 PM
lost in the market stop asking about unreasonable targets in this site as this can lead to losses to other boarders here and there will be many more lost from the market. stop asking will this stock go to this level or not as we are all retail investors and not operators that we'll know about this.
47. CLD |   Link |Mar 16, 2011 1:37:50 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
..............Lost in Market :

Forget achieving target of 450+. These small stocks are operator driven & have more chances of going to lower circuits than going up. In my opinion you should avoid it since even the current price is not sustainable for long.
46. Lost in Market |   Link |Mar 16, 2011 10:23:06 AM
Can we buy Fineotex Chem at 188 for target 450+ in few days? I wish I had bought it at 80-85 and hold :(
45. KK Natarajan |   Link |Mar 12, 2011 5:55:36 AM (500+ Posts)
The performances of Acropetal, Fineotex and Sudar will now act like baits to attract those retail investors who wish to stay away from IPOs after a series of poor performances or poor returns in good performing IPOs/FPOs due to heavy subscription. This is not going to be good at all for the primary market.
44. SkDash |   Link |Mar 11, 2011 8:56:06 AM
Top Contributor Top Contributor (1000+ Posts, 200+ Likes)
Ravi- whats going on ? Hv u subscribed and got allotment in FCL and Sudar ? Any trading strategy ? I have short position in FCL at 102 (tgt 90) and Sudar in 88 (tgt 80). Any suggestion from yr side ?
43. KK Natarajan |   Link |Mar 11, 2011 8:20:56 AM (500+ Posts)
Those who have applied are having a great day. Congrats!
42. vas nat |   Link |Mar 10, 2011 9:34:56 PM (200+ Posts)
Dear IPO Raja & SKDash,

Regarding the eligibility of minors applying in IPOs, certain companies allows this and certain companies does not. This can be read from the instruction given in the application under the head " Who can bid".

For eg. Gravita India allowed minors to apply and most companies which have come with IPO in the recent past including Lovable Lingeries does not allow minors to apply.

Whatever instructions the company gives for bidding, they have the right to reject the application on that basis.
41. SkDash |   Link |Mar 10, 2011 3:35:48 PM
Top Contributor Top Contributor (1000+ Posts, 200+ Likes)
38-Ipo raja-

As per indian contract act- a minor cant enter into a contract and any such contract shall be void. The Company Law Board held in Nandita Jain v. Bennett Coleman & Co. Ltd in 1978 has decided that that a minor applying (through her natural guardian) for being registered as a member of a company, was entitled to be so registered if the shares were fully paid up (since a minor cant be held liable at any circumstances). Under section 41(2) of the Companies Act, 1956, a member is defined as a person who
'agrees in writing' to become a member and a minor cannot agree to be a member of the company since in capable of enter into any agreement.
So as per me- a company cant allot shares in the name of the minor unless the same has been applied thru his/her guaradian. Have u applied under ASBA or physical ? If it is ASBA, they are right in rejecting the same.
40. SkDash |   Link |Mar 10, 2011 3:20:09 PM
Top Contributor Top Contributor (1000+ Posts, 200+ Likes)
Finotex-Forecase as per greymarket.in- 'it may go into discount after listing'
company-below average fundamental
subscription-QIB-0.00 times, NII-0.22 times and RII-4.38 times
Issue Price-72
GMP flat at 2.50-3 for 2-3 days

Hope both sudar and finotex will be listed at prem
Lets see tomorrow
39. SALMA BANO |   Link |Mar 10, 2011 9:07:43 AM



38. Iporaja |   Link |Mar 9, 2011 8:04:12 AM



37. sameer gupta |   Link |Mar 8, 2011 10:28:51 AM
apply 270 get 180
36. Rakesh Kumar Agarwal |   Link |Mar 5, 2011 2:36:07 PM

35. Divyrajeshm |   Link |Mar 1, 2011 2:58:20 PM
State Bank of India

(Reuters) - State Bank of India (SBI.BO), the country's largest lender, received subscriptions for 85.8 billion rupees ($1.9 billion) for a bond sale, or more than 8.5 times the minimum on offer, two sources with direct knowledge told Reuters on Tuesday.

The state-run bank aimed to raise 10 billion rupees, with a greenshoe option for an equal amount. However, the bank said in its prospectus it had the option to retain up to 100 billion rupees if subscriptions from retail investors were more.

The bank, which along with its associates controls about a quarter of all loans in India, is raising the money to meet its assets growth. Demand for loans in India expanded 23.9 percent on year as of Feb. 11.

Retail investors put in bids for 45.72 billion rupees, compared with the minimum 5 billion rupees offered, said the sources who could not be identified as they were not authorised to speak to media.

For rich, or high net worth, individuals, the subscription was 5.08 billion rupees and for qualified institutional buyers it was 35.01 billion rupees, compared with the minimum offer of 2.5 billion rupees each, they said.

"These are provisional figures as there are some more applications left," said one source.

The bank had offered 10-year bonds at 9.75 percent for retail investors, and 9.3 percent for non-retail applicants. The bonds carry a call option in the fifth year.

It also offered 15-year bonds at 9.95 percent to retail investors and 9.45 percent to non-retail investors. The bonds have call option in the tenth year.

State Bank's previous public bond issue in October, worth 5 billion rupees, was subscribed 20 times, with the bank retaining 10 billion rupees.