TBZ IPO fails to woo investors on opening day - Indian IPO Blog

Tuesday, April 24, 2012

TBZ IPO fails to woo investors on opening day

Tribhovandas Bhimji Zaveri (TBZ) IPO which has opened for subscription from April 24, 2012, has failed to attract investors even on the auspicious day of Akshay Tritiya. The IPO has received bids only in the HNI and Retail Category which are subscribed 0.22 times and 0.05 times respectively with QIB category receiving no bids on the opening day

Earlier, CRISIL had assigned an IPO Grade 3 to Tribhovandas Bhimji Zaveri Ltd (TBZ) IPO. This means as per CRISIL, company has 'Average Fundamentals'. CRISIL assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals.

Indian IPO Blog has posted an insight based on analysis of TBZ IPO. Click here to read Indian IPO Blog Insight on TBZ IPO!

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