Price Range: 278 to 293.
Issue Open: Nov 24, 2010 - Nov 26, 2010.
Application Lot: 22 Shares.
Registrar: Link Intime India Pvt Ltd.
Issue Size: Rs. 300.00 Crore.
Listing on both NSE & BSE..
The promoters of Claris are shady, The Handas were promoters of Core Group, their 3 drugs are banned under US FDA for contamination. Core Group simply vanished, not before heavy manipulation in the stock, hence high speculation in Claris at the time of listing cannot be ruled out, I would like to stay away from Claris. Don't know the valuation part, as I don't even want to waste time reading its RHP.
The promoters of Claris are shady, The Handas were promoters of Core Group, their 3 drugs are banned under US FDA for contamination. Core Group simply vanished, not before heavy manipulation in the stock, hence high speculation in Claris at the time of listing cannot be ruled out, I would like to stay away from Claris. Don't know the valuation part, as I don't even want to waste time reading its RHP.
The company was Core Healthcare.
The details are mentioned in the RHP.
According to RHP, Core Healthcare was promoted by Sushil Kumar Handa.
Sushil Kumar Handa was also a promoter of Claris Lifesciences.
Quote:
One of our erstwhile promoters and relative of our individual Promoter (included in our Promoter Group), Mr. Sushil Kumar Handa, the Ex-Chairman and Managing Director of the erstwhile Core Healthcare Limited, was included in the list of wilful defaulters, in his capacity as a director of such company, maintained by the Credit Information Bureau (India) Limited, until August 2010. Further, there were certain criminal investigations against him relating to alleged economic offences, being investigated by the Central Bureau of Investigation. Furthermore, there also subsist certain criminal investigations including an investigation initiated by the Anti Corruption Bureau, and offences under the Drugs and Cosmetics Act, 1940, and he was declared a proclaimed offender due to non appearance at hearings in one such instance.
Quote:
Core Healthcare Limited, a Company promoted by Mr. Sushil Kumar Handa, one of our erstwhile promoters and a relative of our individual Promoter (included in our Promoter Group), is listed on watchoutinvestors.com in relation to certain regulatory non-compliances, on account of which regulatory action and penalties have been initiated and imposed by SEBI for certain violations of securities laws, by the BSE and NSE for certain violations of the listing agreement, and by the CDSL and NSDL in relation to dematerialization requests.
What shall we do now Experts ? After MOIL if we have surplus money than what to do ? SCI not seems attractive on valuation & others we don't know shall we go now for Claris with revised offer price?
1) Pathetic response for this issue.
2) Problems with USFDA.
3) Historical record for poor opening of such issues.
A lot of operators will be there shorting this stock on opening day. My personal observation for such bad IPO issues on opening is that generally they open at discount and then "dead cat bounce" comes and then it goes down that day.
Seeing all these facts what are your suggestions and views whether is it worth shorting on the listing day?
My personal observation for such bad IPO issues on opening is that generally they open at discount and then "dead cat bounce" comes and then it goes down that day.
For some stocks, the bounce is much more than a "dead cat bounce".
B.S.Transcomm had to extend its IPO and lower the price range from from 257-266 TO Rs. 248-257.
The IPO was barely subscribed.
As expected, the IPO was below the IPO price in early trade.
Then the stock started to rally.
The stock closed the day at 381.25 against an IPO price of 248 - that's 53.73% above the IPO price.
My personal observation is that there is no trend in how IPOs with poor fundamentals list. Some end the day 50% above the IPO price and some 35% below the IPO price.
Only those who like to take big risks should trade such stocks on listing day.
Claris Lifesciences IPO
Maximum Limit is 1 Lac or 2 Lac INR ?
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Linear Mode
