IPO - Jindal Cotext Ltd. opens on August 27

Public Issue of 1,24,53,894 Equity Shares of
Jindal Cotex Ltd. is opening on Thursday, August 27, 2009
and closes on Tuesday, September 1, 2009.


 
Issue Details :

Price Band Rs.70 to Rs.75

Min application 90 Shares and multiple of 90
thereof.

 

Issue highlights
:
 



Jindal Cotex limited (JCL) is an ISO
9001:2008 certified company engaged in the business of
manufacturing acrylic, polyester and polyester viscose,
polyester cotton, combed and carded
yarns.


JCL has successfully installed 1250 KW
capacity Wind Mill at Jaisalmer, Rajasthan in 2008. JCL has
also entered into power purchase agreement with Suzlon and
Ajmer Vidyut Vitaran Nigam Limited (AVVNL) for the sale of
electricity generated for 20 years.


JCL derives revenues from domestic sales
(87%) as well as export sales (13%).

The new project being set up at Mandiala
Kalan, Ludhiana has been granted status of Mega
Project which entitles certain concessions &
benefits.

This Issue has been graded by Brickwork
ratings India as "BWR IPO Grade 3/5",
indicating average
fundamentals.