Fineotex Chemical Ltd IPO (Fineotex IPO) Detail

Feb 23, 2011 - Feb 25, 2011

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.

Company Promoters:

The promoters of the Company are:

1. Mr. Surendra Kumar Tibrewala, aged 53 years, is the Chairman and Managing Director of the Company.
2. Mr. Sanjay S. Tibrewala, aged 28 years, is the Whole time Director of the Company.
3. Mrs. Kanaklata S. Tibrewala
4. Ms. Ritu S. Tibrewala, aged 25 years, is the General Manager and Promoter of the Company.

Objects of the Issue:

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 Details

IPO DateFeb 23, 2011 - Feb 25, 2011
Issue TypeBook Built Issue IPO
Issue Size4,211,160 Eq Shares of ₹10
(aggregating up to ₹29.48 Cr)
Face Value₹10 Per Equity Share
IPO Price₹60 to ₹72 Per Equity Share
Market Lot90 Shares
Min Order Quantity90 Shares
Listing AtBSE

Fineotex IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum190₹6,480
Maximum302700₹194,400

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.

Check IPO Ratings from other stock analysts.

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 Subscription Status (Bidding Detail)

Fineotex IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Total

Shares Offered

2,105,580

631,674

1,473,906

4,211,160

Feb 25, 2011 17:00

0.00x

0.22x

4.38x

1.57x

Fineotex IPO Prospectus

Fineotex IPO Rating

144
2.6
Rating:Rated 2.6 stars

Vote Here ...

Fineotex IPO Listing Date

Listing DateFriday, March 11, 2011
BSE Script Code533333
NSE SymbolFCL
Listing InB
ISININE045J01026
IPO Price₹70 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹70.00
₹80.00
₹74.10
₹157.90
₹140.90
34,514,776

Fineotex IPO Reviews / Ratings

Company Contact Information

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
   1st Floor, Bharat Tin Works Building,
   Opp. Vasant Oasis,Makwana Road,
   Marol, Andheri(E), Mumbai - 400 059

Phone: +91-22-6263 8200
Email: fclipo@bigshareonline.com
Website: http://www.bigshareonline.com

Fineotex IPO FAQs

  1. 1. What is Fineotex IPO?

    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 price of the IPO is ₹60 to ₹72 Per Equity Share. The minimum order quantity is 90 Shares per application and the offer type is Book Built Issue.

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

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

  2. 2. When Fineotex IPO will open?

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

  3. 3. How to apply for Fineotex IPO?

    Fineotex IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When Fineotex IPO allotment?

    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.

  5. 5. When is Fineotex IPO listing date?

    The Fineotex IPO listing date is on Friday, March 11, 2011, at BSE.
  6. 6. What is the lot size of Fineotex IPO?

    Fineotex IPO lot size is 90 Shares and the minimum order quantity is 90 Shares.

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Fineotex IPO Review / Comments

Ravi, Bangalore
54. Ravi, Bangalore  Mar 28, 2011 11:19
Top Contributor Top Contributor (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.
KK Natarajan
53. KK Natarajan  Mar 23, 2011 20:29
IPO Mentor IPO Mentor (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?
Kapil T
52. Kapil T  Mar 23, 2011 16:13
Ravi,

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.
Ravi, Bangalore
51. Ravi, Bangalore  Mar 23, 2011 15:52
Top Contributor Top Contributor (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.
KK Natarajan
50. KK Natarajan  Mar 23, 2011 14:53
IPO Mentor IPO Mentor (500+ Posts)
Dear Ravi, Bangalore,
Welcome back home. Which country did u visit? Did you enjoy the trip or was it 100% official?
Ravi, Bangalore
49. Ravi, Bangalore  Mar 23, 2011 12:19
Top Contributor Top Contributor (300+ Posts)
44. SkDash

I was in abroad for 10 days on duty.
rohit sachdev
48. rohit sachdev  Mar 16, 2011 13:44
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.
CLD
47. CLD  Mar 16, 2011 13:37
IPO Mentor IPO Mentor (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.
Lost in Market
46. Lost in Market  Mar 16, 2011 10:23
Can we buy Fineotex Chem at 188 for target 450+ in few days? I wish I had bought it at 80-85 and hold :(
KK Natarajan
45. KK Natarajan  Mar 12, 2011 05:55
IPO Mentor IPO Mentor (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.
SkDash
44. SkDash  Mar 11, 2011 08:56
IPO Mentor IPO Mentor (600+ Posts)
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 ?
KK Natarajan
43. KK Natarajan  Mar 11, 2011 08:20
IPO Mentor IPO Mentor (500+ Posts)
Those who have applied are having a great day. Congrats!
vas nat
42. vas nat  Mar 10, 2011 21:34
Top Contributor Top Contributor (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.
SkDash
41. SkDash  Mar 10, 2011 15:35
IPO Mentor IPO Mentor (600+ Posts)
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.
SkDash
40. SkDash  Mar 10, 2011 15:20
IPO Mentor IPO Mentor (600+ Posts)
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
SALMA BANO
39. SALMA BANO  Mar 10, 2011 09:07

ON LISTING

******
SHORT IT ........SHORT IT

EARN HANSOME PROFIT
Iporaja
38. Iporaja  Mar 9, 2011 08:04
BIG SHARE HAS REJECTED THE APPLICAION OF MINORS

THIS IS NOT PROPER.

IT IS VERY MUCH LEGAL TO DO IPO IN THE NAME OF MINORS.

WE ARE GOING TO SUE BIGSHARE.............
sameer gupta
37. sameer gupta  Mar 8, 2011 10:28
apply 270 get 180
Rakesh Kumar Agarwal
36. Rakesh Kumar Agarwal  Mar 5, 2011 14:36
DEAR SIR,

FINEOTEX KI RS. 2 LAC KI APPLICATION PER KITNE SHARE AANE KI UMMEED HAI
Divyrajeshm
35. Divyrajeshm  Mar 1, 2011 14:58
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.






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