Today is the last date for subscribing to the Gravita India IPO for retail investors. The IPO of Gravita India has been over subscribed 1.14 times so far, as per data available on the NSE website yesterday.
SBI Capital Securities has recommended to it’s customers that they can subscribe to Gravita India’s IPO to make listing gains. Gravita India plans to raise between Rs 43 to Rs 45 crore by offering it’s shares in the price band of Rs 120 -125 per share.
Gravita India IPO Shares
Gravita India is the main company of the Gravita Group which is based in Jaipur and was established in the year 1992. Gravita is involved in the business of manufacturing lead metal through recycling and smelting process.The company also manufactures various other lead products.
According to SBI Cap Securities , Gravita India is currently valued at 11.7 times and 12.2 times its FY10 earnings at the lower and upper ends of it’s IPO price band. Gravita India plans to use the funds to set up more manufacturing facilities and invest in overseas ventures.The company is also planning to set up manufacturing facilities at Australia, Belarus, Chile and Mexico.