C Mahendra Exports IPO bid 0.37 times till Day 2 - Indian IPO Blog

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Monday, January 3, 2011

C Mahendra Exports IPO bid 0.37 times till Day 2

The response to C Mahendra Exports IPO has remained feeble on Day 2, with the IPO getting bid 0.37 times on an overall basis till Day 2 of its opening, as per data available on the NSE website. Retail Category has, however, garnered about 75% subscription till Day 2 of the IPO

C Mahendra Exports IPO had received a lukewarm response on its opening day, with the IPO getting bid 32% on an overall basis. Retail Category, however, was subscribed 60% on the opening day

Earlier, Credit Rating Agency ICRA had assigned an IPO Grade 2/5 to the upcoming IPO of C Mahendra Exports Ltd. This indicates that as per ICRA, the  company has 'Below Average Fundamentals'. ICRA assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals

C. Mahendra Exports Ltd. is a leading diamond and jewellery company. The group is an integrated diamond and diamond jewellery player encompassing sourcing of rough diamonds, trading of rough and polished diamonds, processing of diamonds and manufacture of diamond jewellery

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