Shilpi Cable Technologies IPO

Opens: 22nd March 2011.
Closes: 25th March 2011.

Price: Rs 65 to Rs 69.

Issue size: Rs 55.88 crore.

This one should be skipped too.

As with many other recent IPOs, the company has very limited history and still is asking for an exorbitant valuation.

There are other issues too like debt defaults in the past, pending litigations etc. See "Risk Factors" in the RHP for details.

The issue is tiny and may get cornered by operators. Thus, listing can take place at any price.

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Shilpi Cable Technologies lists today.

NSE symbol is Shilpi.

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Opened at 78.00, made a high of 84.70, now it's at 60.90 falling with the market. Anyone recommends intraday at this price?