Manpasand Beverages (MBL), a Gujrat based fruit drink manufacturing company primary focus on mango fruit, will be launching public issue on June 24. It is debuting the securities market with an initial public offering of fresh issue of 125 million shares in the price band of Rs 290-320.
The issue will close on Jun. 26, 2015. The IPO will result in a total dilution of 25% for the 3 shareholders of the company in the following manner-promoter dilution of 17%, SAIF Partners dilution of 7% and Aditya Birla Equity dilution of 1%.
Broking firm, SMC Global has assigned 2 rank on scale of 5 to Manpasand Beverages IPO. "With negative net cash flows from operating and investing activities and the concentration in the single production 'Mango Sip' makes the company less attractive. On the valuation front, the stock seems too pricey. So, investors who have high risk appetite can opt this issue but with long term prospect,'' it said.
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