PG Electroplast makes a debut of discount

PG Electroplast Ltd. | Consumer Durables - Domestic Appliances | Consumer Durables | BSE: 533581 | NSE: PGEL

26 Sep 2011 Evaluate

PG Electroplast opened at Rs 200 on the BSE, down by 10 points or 5% from its issue price of Rs 210.

The scrip is currently trading at Rs 185.20, down by 24.80 points or 11.81% from its issue price and has touched high and low of Rs 214.90 and Rs 180.20 respectively. So far 543181 shares were traded on the counter.

PG Electroplast, a company engaged in providing electronic manufacturing services has fixed issue price at Rs 210, higher end of price band of Rs 190-210 a share. The issue, which opened during September 7-12 for subscription, was subscribed 1.34 times.

The company will be using the issue proceed for setting up of unit at Gujarat, for manufacturing of high end duplex board cartons, shippers and printed corrugated box; augmenting the long term working capital requirements of the Company; and general corporate purposes.

The company manufactures and assembles a comprehensive range of consumer electronic components and finished products such as colour television (CTV) sets & components, air conditioners (ACs) sub-assemblies, DVD players and Compact Fluorescent Lamps (CFL) for third parties. The company’s plant has the capacity to convert approximately 400 tons of paper board every month. In terms of finished products, the company has the capacity to produce 20 lakh cartons a day.