IPO Updates: Cox and Kings IPO Subscribed 6.31 times, 0.98 times in Retail

Cox and King IPO closed on 20-Nov-09 for subscription.

Subscription status for Cox and King IPO :
1. QIBs : 9.9514
2. HNIs: 10.6975
3. Retail: 0.9813
4. Employee: 0.1076

Overall: 6.31

Employees quota is not subscribed fully! Retail portion is subscribed 0.9813 times. All the applied applications are supposed to get all the applied shares.



Keywords: Cox and Kings (India) IPO, CARE ratings, Cox and Kings (India) IPO rating, Novemeber IPO, Price band

IPO Updates: Mandhana Industries receives rating(grade) 3/5 from CRISIL

Mumbai based company Mandhana Industries, was incorporated in 1984 as Mandhana family. Mandhana Industries is engaged in the production of fabrics for domestic market and garments largely for export markets.

CRISIL has reaffirmed CRISIL IPO Grade 3/5 to the proposed initial public offer (IPO) of Mandhana Industries (MIL). This means according to CRISIL, Mandhana Industries has average fundamentals relative to other listed equity securities in India, according to their report.

Keywords: Mandhana Industries, 2009 IPO, Mandhana Industries IPO, CRISIL, CRISIL IPOgrading, CRISIL Ratings,

IPO Updates: Cox and Kings IPO, Experts views, Investment recommendation, subscribe?

Cox and King India Limited will open for subscription from november 18, 2009. What Experts predict about this IPO? Will it be a market mover?

Swastika Investmart : Apply (Midterm target: rs. 400)
SP Tulsian : Apply (Best for long term investment)
S G Panchal : Apply (It will give marginal listing benefit but good for mid-long term.


Cox and Kings (India) has been showing a consistent growth in its topline and bottomline for over the last 5 years. Total income of Rs 66 crore in FY06, grew to Rs 294 crore in FY09, while PAT rose to Rs 62.81 crore in FY09 from Rs 17.38 crore in FY06.



Strength:
1. Company’s brand has been evolved over a period of 250 years and is one of the oldest brands in the Travel & Tourism industry today.
2. The Company has a vast Geographical Presence, both Domestically and Internationally.
3. CARE has awarded Grade 4 to Cox & Kings (India) Limited, which translates to “Above Average Fundamentals” grade.

Weakness:
1. Big investors like Lehman, Deutsche Securities & Merrill Lynch using this IPO to exit as much as 58.82% of their respective holding in the company.
2. The Company is operating in geographies / overseas markets and products / services which are new to it and some of its subsidiaries and joint venture have not yet commenced commercial operations.
3. The Travel and Tours Industry is cyclical and sensitive to changes in the economy and this could have a significant impact on the operations and financial results of the Company.Fundamentals” grade.

Keywords: Cox and Kings (India) IPO, Cox and Kings (India) IPO rating, Cox and Kings (India) IPO Expert views,