Prakash Steelage Ltd IPO (Prakash Steelage IPO) Detail

Aug 5, 2010 - Aug 10, 2010

Incorporated in 1991, Prakash Steelage Limited (PSL) is an ISO 9001: 2008 and PED certified Company, engaged in the manufacturing of seamless & welded stainless steel Pipes, Tubes and U-tubes. Company carry their production through two state-of- the-art production units situated at Silvasa and Umbergaon (Gujarat) with total installed production capacity of 12200 MTPA.

PSL is also a “Govt. Recognized Star Export House” exporting to several MNC’s into more than 40 countries across the Globe. To meet the increasing demand, they propose a backward integration cum expansion of manufacturing facilities at their existing unit in Umbergaon, Gujrat.

Company Promoters:

The Promoter's of the company are:

1. Mr. Prakash C. Kanugo, (56 years) is the Promoter, Chairman & Managing Director of the Company.
2. Mr. Ashok M. Seth, (36 years) is the Promoter Director of the Company.

Company Financials:

ParticularsFor the year/period ended (Rs. in Lacs)
30-Sep-0931-Mar-0931-Mar-0831-Mar-0731-Mar-0631-Mar-05
Total Income19,191.0232,247.3623,238.2016,005.639,894.026,147.99
Profit After Tax (PAT)746.10749.71820.38314.3081.0033.81

Objects of the Issue:

The Objects of the Issue are:

1. Expansion of existing manufacturing facility at Umbergaon, Gujarat;
2. Meet the additional working capital requirement;
3. General corporate purpose;
4. Meet the issue expenses; and
5. List the equity shares of the company on the stock exchanges.

Prakash Steelage IPO Details

IPO DateAug 5, 2010 - Aug 10, 2010
Issue TypeBook Built Issue IPO
Issue Size6,250,000 Eq Shares of ₹10
(aggregating up to ₹68.75 Cr)
Face Value₹10 Per Equity Share
IPO Price₹100 to ₹110 Per Equity Share
Market Lot60 Shares
Min Order Quantity60 Shares
Listing AtBSE, NSE

Prakash Steelage IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum160₹6,600
Maximum301800₹198,000

Prakash Steelage Ltd IPO Grading / Rating

CARE has assigned an IPO Grade 2 to Prakash Steelage 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 Prakash Steelage Ltd.

Check IPO Ratings from other stock analysts.

Prakash Steelage IPO Tags:

Prakash Steelage Ltd IPO, Prakash Steelage IPO, Prakash Steelage IPO Bidding, Prakash Steelage IPO Allotment Status, Prakash Steelage drhp and Prakash Steelage Ltd IPO listing.

Prakash Steelage IPO Subscription Status (Bidding Detail)

Prakash Steelage IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Employee

Total

Shares Offered

3,075,000

922,500

2,152,500

100,000

6,250,000

Aug 10, 2010 17:00

1.27x

10.91x

6.62x

1.02x

4.53x

Prakash Steelage IPO Prospectus

Prakash Steelage IPO Rating

318
3.8
Rating:Rated 3.8 stars

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Prakash Steelage IPO Listing Date

Listing DateWednesday, August 25, 2010
BSE Script Code533239
NSE SymbolPRAKASHSTL
Listing InB
ISININE696K01024
IPO Price₹110 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹110.00
₹118.55
₹117.00
₹201.90
₹187.95
46,862,627
NSE
₹110.00
₹122.00
₹117.00
₹200.00
₹185.35
61,634,263

Prakash Steelage IPO Reviews / Ratings

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Company Contact Information

Prakash Steelage Ltd
Prakash Steelage Ltd
701, Mahalaxmi Chambers,
Dr. Bhulabhai Desai Road, Mumbai- 400026

Phone: +91-022-2352 6513 / 6514
Email: cs@prakashsteelage.com
Website: http://www.prakashsteelage.com

Prakash Steelage 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: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Prakash Steelage IPO FAQs

  1. 1. What is Prakash Steelage IPO?

    Prakash Steelage IPO is a main-board IPO of 6,250,000 equity shares of the face value of ₹10 aggregating up to ₹68.75 Crores.

    The issue price of the IPO is ₹100 to ₹110 Per Equity Share. The minimum order quantity is 60 Shares per application and the offer type is Book Built Issue.

    The IPO opens on Aug 5, 2010 and closes on Aug 10, 2010.

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

  2. 2. When Prakash Steelage IPO will open?

    The Prakash Steelage IPO opens on Aug 5, 2010 and closes on Aug 10, 2010.

  3. 3. How to apply for Prakash Steelage IPO?

    Prakash Steelage 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 Prakash Steelage IPO allotment?

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

  5. 5. When is Prakash Steelage IPO listing date?

    The Prakash Steelage IPO listing date is on Wednesday, August 25, 2010, at BSE, NSE.
  6. 6. What is the lot size of Prakash Steelage IPO?

    Prakash Steelage IPO lot size is 60 Shares and the minimum order quantity is 60 Shares.

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Prakash Steelage IPO Review / Comments

Anonymous
553. Anonymous  Oct 15, 2010 17:08
Have you seen all board of director ? Is that one or more are only 1oth pass ?
Anonymous
552. Anonymous  Oct 15, 2010 17:05
Have you seen all board of director ? Is any one 1oth pass ?
badshah khan
551. badshah khan  Sep 24, 2010 01:32
can any body the future of prakash steel.i am holding 150 share @185 should i booked lost or hold for some more time,today it closed at 146
srinivas
550. srinivas  Sep 8, 2010 17:44
Ravi sir , thanks a lot for your valuable answer.Will try this out with the GPPL listing tomorow.Will let you know how it proceeds. Once again thanks Ravi sir.
Ravi, Bangalore
549. Ravi, Bangalore  Sep 8, 2010 15:52
549. Srinivas

Till 11:30, it is difficult to know the trend. If you are confident, purely on speculation or momentum play, buy 1/3rd in the morning after half-an-hour of commencement of trading.

Typically, Operators sets-in around 11:30 to 1:30 p.m. as per my observation in Aster, Prakash, Midfield. If Operators don't enter the scene, fundamentally weak companies (high valuation scripts) start declining after 11:30 a.m. druing listing day & that trend continues next day also.

If Operators enter the scene, hold for two days- that is the starting stage. Generally, honey-moon will end after two days. Sometimes, different Operators enter the scene & start accumulating in corrections. In such instances, honey-moon will continue even after two days. However, it is difficult to ride the volatility beyond two days. It will tempt us to take the money off the table when we see correction.

In secondary market, you need to watch the sector leaders. When they make noises, look for small-caps in the same sector. You face acid-test during stock-selection in secondary market. Look for cheaper valuation which is showing turn-around stories. Turn-around stories will become multi-baggers. Buy cheap valued & turn-around stories when they buzz. That is typically starting stage. Don't choose sleeping beauties. It will waste your time.

Avoid stocks that are recommended in media.
srinivas
548. srinivas  Sep 8, 2010 13:17
Ravi, can i go with a strategy that buy a stock on the first day of the listing depending up on its trend and reap benifits with stict stop loss.This stategy may hold good because of the reason that market is going good and all thye ipo's listed in this time frames are giving benfits for the first feww days.Please comment
Ravi, Bangalore
547. Ravi, Bangalore  Sep 8, 2010 13:02
546. Gavin

Buyers are trapped in 182-226 zone. Somebody is picking it in 169-151 zone. If breaches 151, then support exists only at 117 which is life-low recorded on listing day.

I have already pointed-out that you should play in Operators stock at initial stages. Chart is not everything. This stocks moves because of fixing. Stop-loss would trigger. It does not mean that you should not use stop-loss. If you keep stop-loss, you loose Rs.5,000, if you don't then you loose Rs.50,000. Remedy is enter at starting point & in 3 - 4 phases.
srinivas
546. srinivas  Sep 8, 2010 12:56
Gavin , still your q was not pointing me , but as i am into this stock from the 1st day of listing . This stock is purely in the hands of operators, the people who gained in the first 3 days are only lucky, those who entered above 200 are struck up,from the last 3 days , u dont belive it was not shoing any momentum. I have lost 25 k already , my sincere advice , just exit and take suggestion from ravi/sj/sreedhar/narayan etc about tyhe best fundamental stocks.
Gavin
545. Gavin  Sep 8, 2010 12:03
Dear Sj / Ravi
I bought 50 Prakash @ Rs 236.00 now day by day it become going down so should i hold or book loss. pls suggest
rama
544. rama  Sep 6, 2010 10:27
dont waste your money and time on his company
K.K.Natarajan
543. K.K.Natarajan  Sep 4, 2010 07:38
What happens in the coming week will let us know whether the honeymoon is over for Prakash steelage. If there are strong operators as in Midfield Industries, they will take it past 200 levels again. Otherwise, doomed!
Punit
542. Punit   Sep 3, 2010 21:42
Can anybody tell me when is listing and what to expect on listing day ?????????
Ravi, Bangalore
541. Ravi, Bangalore  Sep 3, 2010 15:57
536. Srinivas

If you want to invest for 5 - 8 years, take a route of mutual fund having at least 3 years good track record.

1. Reliance Regular Savings Equity, (Large Cap & Multi-Cap)- Rs.100 became 159 in 3 years.

2. IDFC Premier Equity Plan A (Midcap)- Rs.100 became Rs.169 in 3 years.

3. UTI Opportunities (Theme Fund)- Rs.100 became 146 in 3 years.

4. Canara Robeco Equity Tax Saver- Rs.100 became 153 in 3 years.

SIP is better to avoid bad-timing.
newipo
540. newipo  Sep 3, 2010 15:33
535. Ravi, Bangalore
AApka predication is write good predication Thanks
siva
539. siva  Sep 3, 2010 12:26
Hi sreedhar,

thanks for call on Jindal poly, i sold at 1000 and bought at 985. Generally i dont trade, but your analysis is too good generally. for EIL also you have done great job. this forum has several good analysists like sj, gem ipo finder etc., helping newbies like me. thanks again.
Sj
538. Sj  Sep 3, 2010 12:11
shreedhar

I hope you are making huge profits in Jindal poly

It has run up a lot

However you can short jindal poly and go long on Garware polyster

Confirmed insider news of 250

I do not trade on insider news but this operatoe has 100% acuracy in past..so i believe him
sreedhar
537. sreedhar  Sep 3, 2010 09:54
aka,
Jindal Poly is going up on bonus proposal meeting for which will be held today.I had bought Jindal poly 2 days before & has now sold them.I have even shorted good quantity at 1004.Buy on rumor,sell on news.Today news will come & share should fall.I have bought Karur Vysya bank also which I will be selling on 6TH September when there is a meeting.I will be shorting Karur on that day.
K.K.Natarajan
536. K.K.Natarajan  Sep 2, 2010 19:16
Dear Srinivas,
Your interest in suzlon not withstanding, people got interested in it at the end of the trading hours today. If you still have suzlon left with you, you would feel happy!
srinivas
535. srinivas  Sep 2, 2010 14:05
@Ravi and SJ thanks for your inputs.Please so suggest me some fundamentallt good stocks which i can hold fro 5-8 years .
Ravi, Bangalore
534. Ravi, Bangalore  Sep 2, 2010 13:12
Srinivas

You are panic-sticken. Perhaps (I believe), change of hands from Operator No. 2 to Operator No. 3 in 206-202 zone. Keep a stop below 202 (say 195) and keep holding. Significant resistant at 267 (at least 50% profit-booking warranted at those levels). Even intra-day trading above that level (shorting opportunity) may fetch money. Success rate is more at that level.

Keeping a stop at 195 may be unaffordable to you. However, considering this scrip volatility, it is essential to take such hits for being a short-term gambler.






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