Ess Dee Aluminium, EDAL, an end-to-end pharmaceutical packaging solutions provider, is open for subscription with an initial public offer, IPO of 69.60 lakh equity shares of Rs 10 each at a premium to be decided by the book building process.
The price band for the issue has been fixed at Rs 200- 225 per share.
Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Majority said apply.
| Experts/Company | Poll Result | Experts view |
| R S Iyer (KR Choksey) | Apply | Ess Dee Aluminium is an average issue. Investors will not loose the money. One can apply for this issue. |
| Manish Bhatt (Prabhudas Lilladher) | Apply | Ess Dee Aluminium looks to be good issue. Investors should apply for this issue. |
| SP Tulsian (Investment Advisor) | Don't Apply | Ess Dee Aluminium is quite expensive and average issue. Investors should ignore this issue. |
The company has reserved 1.5 lakh equity shares for eligible employees and the net offer to the public would be 68.10 lakh equity shares. The net issue to the public constitutes 25.79% of the post-issue fully diluted equity capital. The issue opens on December 4 and closes on December 8.
Of the net issue to the public, 50% will be allocated to QIBs, of which mutual funds will receive 5%. non-institutional bidders will receive 15% while 35% of the net issue will be allocated to retail individual bidders on a proportionate basis.
The issue will part finance the new expansion project at Daman costing Rs 114.79 crore to raise the company's aluminium foil rolling capacity from 3,600 tonnes per annum to 18,000 tonnes per annum.
The company plans to foray into food-based aluminium packaging.
UTI Securities and Enam Financial Consultants are the book running lead managers to the issue.
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