By Research Desk
about 12 years ago

Excel Infoway has entered the capital market on 14th July 09 with an issue of 56.67 lakh equity shares of Rs. 10 each, in the band of Rs. 80 to Rs. 85 per share. Issue is closing on 17th July 09.


The company is engaged in providing Voice Based Services in the areas of Collections, Tele Marketing and Customer Care, which is not a great business model to bank and invest upon. The issue size at lower band of Rs. 80 is of Rs. 45 crores which results in a total market capitalization of Rs. 168 crores as the dilution is of 26.77% from the present issue.


Such issues have never rewarded the investors except to create momentum play on listing. The fundamentals of the company also do not justify this kind of pricing.


A clear advice is to remain away from the issue if you want to take a fundamental view and take a call on it.


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