Orbit Corporation Limited IPO (Orbit IPO) Detail

market tip:

buy tcs @1250 target 1650 (strong order book)
buy tube invest 65 target 77 (promoter picks 12,50,000 from mkt)
buy britannia 1270 target 1650(year end)

hi jatin
i shorted 600 share @133 level & covered the same at 122.25.As you see the oversubscription figure only 0.88 subscription in retail category.retailer got subscription.it is pure promoter driven counter.it may shoot at 170 level soon.excellant future guidence given by company.15-16 rs earning per share + 80% project completed already.but actual inside story is that higher interest rate + no of pending case aginst the co + letigation + no oversubscription in retail category + less demand .actually i am expecting this stock to touch 90 level but promoter has changed whole picture.

sell at 133 & cover at 120 .lot of cases pending ,letigation .strong sell

sell at 128,goood shorting oppertunity!!!!!large buyer at 90-100 range & seller at 130 range go short

got full subscription.so panic is for sure.large short selling at 90-100 level

this stock will crash like anything.all sellers would be there on 1st day.this stock can even go to 20-30rs in 1
month.sell it off completely even if you are lucky on opening to sell at near 70 rs

Full Allotment to all retail Invstor. 1 Quarry, Why company who recently just befor 10 dqays accuired one of their property in auction at Bandra in Mumbai for 333 Crores haveing good team of profetionals in board will raise only 150 crores in IPO? Keep this stock for 1 year and you will get the answer.

This ipo is absolutely waste of money...50% loss on first day itself...Bad management...Bad financials...Will be available at 50 rs on the listing day itself...Best of luck to bears...

opening expected at 65-80 range.it is next cairn.all retailer got full subscription.so panic is for sure.large short selling at 90-100 level

very good IPO i have applief in full quantity u will get
100% premium sure

See Akruti & Parsvanath and decide your self

Subscribe to this issue, will surely list at 100% premium.
Avoid ICRA as highly uncertain revenue mix.

Vivek

CARE assigns IPO Grade 1 to Orbit Corporation
2007-03-17 10:54:03 Source : Moneycontrol.com
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CARE has come out with report on Orbit Corporation and it has assigned a ‘CARE IPO Grade 1’ to the proposed initial public offer of Orbit Corporation.

OCL proposes an IPO of 91 lakh equity shares at a likely price band of Rs. 90 - 100. Each equity share will carry a warrant, detachable and tradable, which can be converted into equity share after 18 months of the equity allotment.

CARE has assigned a ‘CARE IPO Grade 1’ to the proposed initial public offer, IPO of Orbit Corporation (OCL). CARE IPO Grade 1 indicates ‘poor fundamentals’. CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

The grading reflects company’s positioning in premium real estate redevelopment market, innovative designs in projects, projects with warranty programs, on-going projects in hand, presence of professionals on board and experienced management. Better profitability margins due to operations under Development Control Regulation (DCR) scheme and good scope for redevelopment projects in the island city of Mumbai offers good prospects for OCL.

Corporate governance practices of the company can be considered low to moderate due to high related party transactions in the past, presence of subsidiaries / group companies in similar activities and limited functioning of board committees due to their recent formation.

The grading is also constrained by moderate level of gearing, limited project experience of OCL, relatively small size of operations, less visibility of OCL brand at state as well as national level, long gestation period of projects, concentration risk due to local focus, possible conflict of business with the entities controlled by promoters/group, Income Tax proceedings against the company, its subsidiaries and the promoters of the company and inherent risks in the real estate sector.

Orbit Corporation operates in real estate industry. The company has two wholly owned subsidiaries, which are operating in the real estate industry namely Orbit Constructions & Realtors Private Limited (OCRPL) and Orbit Buildcon & Realty Private Limited (OBRPL). Orbit Housing Private Limited is the subsidiary of OBRPL. OCL operates under the Development Control Regulation (DCR) 33(6), 33(7) and 33(10) schemes where it is focusing on the redevelopment of dilapidated buildings. The company is also an ISO 9001:2000 company.

OCL operates mainly in the DCR 33 (7) scheme where it enjoys tax benefits u/s 80IB. The company has concentrated its operations in the island city of Mumbai where it can target the high networth individuals. As on March 31, 2006, the company has completed one project, Shivam at Babulnath Road, with a saleable area of 20,455 sqft at an average value of Rs 1.74 crore per apartment. At present, the company, with its subsidiaries, is executing 12 projects in the island city of Mumbai with a saleable area of 0.58 million sqft. which are in various stages of operation.

OCL’s total income, over the last three years, has increased at a CAGR of about 120%. However, the total income for FY06 has increased by 9.13% as compared to FY05. During FY06, the company has incurred expense of Rs 124.18 lakh towards leasehold improvements in OCRPL, which will be amortized over a period of three years. This has resulted into an overall increase in gross fixed assets by Rs 197.53 lakh. The company has increased equity share capital by issuing 95 lakh and 105.96 lakh equity shares in FY05 and FY06 respectively leading to decline in RONW and earning per share and increase in net worth.

sugessted dont apply-- waste IPO

Ever heard of this company, does any body know about it?

who knows about this?

this issue will be undersubscribe surely

all these people are ready to loot the innocent, unwary and at times greedy public

Another realty IPO iwonder who will dare to apply?