ACTION CONSTRUCTION EQUIPMENT LTD - IPO
Type of Issue : Book Built
Issue Opens: 01 September, 2006
Issue Closes: 07 September, 2006
Issue Size : 4,600,000 (No. of Shares)
Lower Price Band : Rs.110
Upper Price Band : Rs.130
Application Multiple: 50 and in multiples there off starting with atleast 50 shares.
Maximum Shares: 750 (for Retail)
Information URL : http://www.ace-cranes.com
Prospectus URL : http://www.sebi.gov.in/dp/actiondraft.pdf
ISSUE Description:
Company Background
ACE is a decade year enterprise and started with manufacturing of Hydraulic Mobile Cranes of different capacities under the brand name of “ACE” at Faridabad. It is an established manufacturer of hydraulic mobile cranes, mobile tower cranes and construction equipment and enjoys a consolidated presence in all major infrastructure, Construction, Heavy Engineering and Industrial Projects throughout the country. The Company has entered with marketing tie-ups with leading companies like Autogru PM-Italy, Zoomlion China, Maber-Italy which facilitates availability of latest technology and machines from around the world.
The Company has been awarded ISO :9001 certificate. It has sold its equipment to most of leading public and private sector companies in India such as Reliance, ABG, L&T(ECC), BSES, BHEL etc. Products of the Company are also being exported to UAE, Qatar, Oman, Kuwait, South Africa, Kenya, Nigeria, Mauritius, etc.
Key Strengths
· Premier customer base
· Experienced Management Team
· Strong Relationships with clients
· Heavy existing investments in technology enabling customized solutions to clients
Objects of the Issue
· To set up a new manufacturing plant loaders, higher capacity tower cranes and construction equipment
· Expand/ Modernize the existing capacities/facilities
· Acquisition/Investments
· To set up additional working capital
Key Financials for year ended June 30, 2006
Income : Rs. 565.05 Million
Profit after Tax : Rs.39.45 Million
RoNW : 36.74%
NAV : Rs.32.22
EPS :Rs. 11.84
Recommendation:
With the current growth in construction sector and opening of FDI in this sector coupled with the Indian Governments increased focus on infrastructure development, the construction equipment industry is set for a boom. ACE with its track record, strong client base will be able to reap rich benefits from the same. Apply Aggressively.
Issue Opens: 01 September, 2006
Issue Closes: 07 September, 2006
Issue Size : 4,600,000 (No. of Shares)
Lower Price Band : Rs.110
Upper Price Band : Rs.130
Application Multiple: 50 and in multiples there off starting with atleast 50 shares.
Maximum Shares: 750 (for Retail)
Information URL : http://www.ace-cranes.com
Prospectus URL : http://www.sebi.gov.in/dp/actiondraft.pdf
ISSUE Description:
Company Background
ACE is a decade year enterprise and started with manufacturing of Hydraulic Mobile Cranes of different capacities under the brand name of “ACE” at Faridabad. It is an established manufacturer of hydraulic mobile cranes, mobile tower cranes and construction equipment and enjoys a consolidated presence in all major infrastructure, Construction, Heavy Engineering and Industrial Projects throughout the country. The Company has entered with marketing tie-ups with leading companies like Autogru PM-Italy, Zoomlion China, Maber-Italy which facilitates availability of latest technology and machines from around the world.
The Company has been awarded ISO :9001 certificate. It has sold its equipment to most of leading public and private sector companies in India such as Reliance, ABG, L&T(ECC), BSES, BHEL etc. Products of the Company are also being exported to UAE, Qatar, Oman, Kuwait, South Africa, Kenya, Nigeria, Mauritius, etc.
Key Strengths
· Premier customer base
· Experienced Management Team
· Strong Relationships with clients
· Heavy existing investments in technology enabling customized solutions to clients
Objects of the Issue
· To set up a new manufacturing plant loaders, higher capacity tower cranes and construction equipment
· Expand/ Modernize the existing capacities/facilities
· Acquisition/Investments
· To set up additional working capital
Key Financials for year ended June 30, 2006
Income : Rs. 565.05 Million
Profit after Tax : Rs.39.45 Million
RoNW : 36.74%
NAV : Rs.32.22
EPS :Rs. 11.84
Recommendation:
With the current growth in construction sector and opening of FDI in this sector coupled with the Indian Governments increased focus on infrastructure development, the construction equipment industry is set for a boom. ACE with its track record, strong client base will be able to reap rich benefits from the same. Apply Aggressively.
posted by Sensex-Blog Admin at 3:46 AM
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