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Firms ignore volatility to tap stock markets

Last Updated 28 September 2011, 15:12 IST

The companies that plan to come out with IPOs this week include Flexituff International, a manufacturer of flexible intermediate bulk containers, information technology firm Taksheel Solutions and stockbroking firm Indo Thai Securities.

In addition, transformer manufacturer M & B Switchgears’ Rs 90 crore IPO and financial service company Onelife Capital Advisors’ Rs 37 crore public offer opened for subscription on Wednesday.,

According to market experts, these are small-size IPOs and the amount involved is also not huge, so it will be interesting to see investors’ response. Flexituff International’s Rs 100 crore initial public offer and Taksheel Solutions’ Rs 80 crore IPO will open on Thursday, while Indo Thai Securities' Rs 32 crore stake sale will begin on Friday (September 30).

Air charter company Swajas Air Charters’ Rs 37 crore initial share sale, which closed on Wednesday, has failed to generate interest among investors. In contrast, stake sales of six entities — RDB Rasayans, Prakash Constrowell, PG Electroplast, TD Power Systems, SRS Ltd and Brooks Laboratories — earlier this month were oversubscribed by 2-3 times, which analysts termed a decent response amid the prevailing market conditions.

Nine firms have opened their IPOs for subscription in the current month and another three are in the pipeline.

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(Published 28 September 2011, 15:12 IST)

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