HPL Electric & Power Ltd IPO - To Invest or Avoid

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HPL Electric & Power Ltd (HPL) is coming out with an initial public offering (IPO) of Rs361 crore. HPL is an electric equipment manufacturing company in India, manufacturing a range of electric equipment, including metering solutions, switchgears, lighting equipment, wires and cables. It caters to consumers and institutional customers in the electrical equipment industry.

The issue opens on September 22, 2016 and closes on September 26, 2016.

Issue details
  • Issuer : HPL Electric & Power Ltd
  • Issue type : Book building
  • Price band : Rs175 to Rs202 per share
  • Issue size : Rs361 crore
  • Bid lot : 70 equity shares and in multiples thereafter
  • Face value : Rs10 per share
  • Mode of payment : ASBA mandatory (no cheques will be accepted)
  • Registrar : Karvy Computershare Pvt Ltd
  • Listing : National Stock Exchange and Bombay Stock Exchange
Verdict

Valuation is on much higher side and should be avoided. Rather make use of capital in intraday using our Hot stock to buy today and start making profit on daily basis.

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