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Investors could avoid the Niraj Cement Structurals IPO

Investors may avoid the Initial Public Offering (IPO) of road building contractor, Niraj Cement Structurals.

25 May 2008

Investors may avoid the Initial Public Offering of road building contractor, Niraj Cement Structurals.

The bid price is between Rs 175-190 appears little bid costlier as given the small scale, limited scope of the company's business, fluctuation in profit growth and high risks specific to the company.

The current asking price discounts its estimated FY-2009 per share earnings (post equity expansion) by at least 18 times.

The net profits have witnessed a decline since 2005-2006.



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