IPO Update : Electrosteel Steels Limited

New Baby in the world of Steel

I have nothing exciting to write about this new kid on the block. The company is promoted by Electrosteel Castings Limited , which is a leader in Cast Iron pipes and Ductile Iron Spun pipes and I could find this as the only silver lining.

The company is in the process of setting up 2.2 MTPA Steel plant in the state of Jharkhand. It does not have any operating history. It will take a couple of years for the operating performance of the company to unfold and hence I would prefer to avoid the IPO. Only those investor who would like to take a long term view may think of applying at the lower band of the offer price.

Registrar : Karvy Computershare

Issue Closes : 24-Sep-2010

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