RDB Rasayans Limited crashes terribly on listing day - Indian IPO Blog

Monday, October 10, 2011

RDB Rasayans Limited crashes terribly on listing day

RDB Rasayans Limited, a packaging material manufacturer, crashed terribly on the listing day. As against an Issue Price of Rs.79/- per share, the share touched an Intra-day low of Rs.19.80 before closing at Rs.21.25 on the BSE, at a discount of 73% to the Issue Price

RDB Rasayans Ltd. is engaged in manufacture and sale of FIBC (Jumbo Bags), Woven Sacks and various woven polymer based products, has entered the capital markets with Public Issue of 45,00,000 Equity Shares of Rs.10/- each. The IPO was open for subscription for 3 days between September 21, 2011 and September 23, 2011

Indian IPO Blog Insights had provided an Analysis and Insight on RDB Rasayans Limited IPO in which the recommendation was to stay away from the issue. Click here to read the entire insight on RDB Rasayans IPO!

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