Geekay Wires Limited (GWL) was incorporated in 1989 and is engaged in manufacturing and trading of galvanized wires and related products. The company is shortly coming up with an IPO. Geekay Wires IPO review finds the details of this public issue from the DRHP (draft red herring prospectus) submitted to NSE.
About The Geekay Wires Limited Issue –
- Issue opens on – 09 August 2017
- Issue closes on – 14 August 2017
- Issue type – Fixed price issue IPO
- Issue price – Rs 33 per equity share
- Lot size – 4000 equity shares or in multiples thereof
- Face value – Rs 10 per equity share
- Issue size – 3,332,000 nos. of equity shares aggregating up to 11 crores
- Listing Exchange – NSE SME exchange
Issue objectives – The proceeds from the issue will be used to fulfill; a) long term capital requirements, b) to meet issue expenses and c) to fulfill general corporate expenses.
About the company – Geekay Wires Limited is a 9001: 2008 certified company that manufactures, exports and trades into the following items.
- Galvanized wires
- Stay wire
- Earth wire
- Armored cable
- ACSR steel core cable
- Guy strand
- Barbed wire
- Steel spring wire
- Detonator wire
- All other wire and related products.
Company Financials – Geekay Wires IPO review finds the financials condition from the DRHP is as follows. The company’s revenue has been following a steady growth. But the PAT has not been consistent and also not very good. The company has not delivered well in the past.
Conclusion – Geekay Wires IPO review finds that the company has not delivered as per expectation in the past. Therefore our review finds this issue as kind of Risky investment.
Disclaimer – Views expressed in this review is an educated guess made on the basis of available data from open source expressed for the purpose of knowledge sharing. By no means, it should be taken as an investment advice or recommendation. Investor/ trader should invest money at their own risk.
Partha, an engineer by education, is theoratically actively following the stock and commodity markets since 1990. He is an active trader since 2003. He has received formal education in future and options and quantum analysis. He is presently working on research oriented projects using Python and data analytics.