Olympic Cards

By Research Desk
about 10 years ago
Olympic Cards


Olympic Cards is entering the capital market on 9th March 12, with a public issue of Rs.25 crore, with equity shares of face value of Rs.10, in the price band of Rs.30- Rs.32 per share. Shares of the company will be listing only on BSE.

Book Running Lead Manager of the IPO is Ashika Capital Ltd. Have you got shivers in your spine? We got it, while analyzing it. One more operator driven IPO is coming to rob the gullible investors/traders. We think that SEBI should become pro-active and must stop it tapping the capital market. For a change, MCX IPO has changed the trend of primary market. But see the irony, on day of listing of MCX, this operator driven IPO is opening its issue.

The company is engaged in the manufacturing and trading wedding Cards, Greeting Cards, Envelopes, Letter Heads, with presence in Southern India. Financial performance of the company for  9 months ending 31-12 -11 is very dismal, with total income at Rs.32.63 crores and PAT of Rs.1.93 crores only. Equity of the company, on 31-12-11, was placed at Rs.8.52 crores, with net worth at Rs.12.50 crores. Strangely, it has debt of Rs.15.30 crores and current liabilities of Rs.10.50 crores. This is largely used in Inventory of Rs.18.90 crores and loans & advances of Rs.7.40 crores. This gives a precarious financial position of the company. Crisil has also assigned Rating of 1 out of 5.

No point in taking call on its fundamentals and performance, as it totally lacks everything. Just avoid it. Let promoters and BRLM merry with market operations, post listing.

Articles you may also like

Popular Comments

No comment posted for this article.