MALU PAPER MILLS LTD-IPO

Issue Opens: 06 March, 2006
Issue Closes: 10 March, 2006
Issue Size : 6,667,000(No. of Shares)

Lower Price Band : Rs.30

Application Multiple: 200 and in multiples there off starting with atleast 200 shares
Maximum Shares: 3200 for retail investors

Information URL : http://www.malupaper.com
Prospectus URL : http://www.sebi.gov.in/dp/malupaperfinal.pdf

About the Company:

Malu Paper Mills Limited, a Nagpur based company is involved in the manufacture of Kraft Paper and Newsprint. Its plant near Nagpur is at the heart of India and thus enjoys a location advantage with respect to servicing clients. The company wants to increase revenues and bottom line by adding additional capacity of Newsprint and reducing costs in existing operations.

Objects of the Issue

For manufacturing newsprint, the company uses recycled paper as raw material and uses the de-inking process.It has decided to go in for a new paper machine line of 150 TPD Capacity capable of manufacturing premium quality newsprint.It has already placed an order for a Deinking plant from Andritz of Finland. Also They are setting up a captive power plant to help reduce production cost.
The total cost of this expansion is Rs. 70 Crores and the project has already appraised by the lending bankers and have sanctioned a term loan of 50.00 Crores.

Competitive Strengths
· Current market share of 3%, poised to grow to 10% after completion of current expansion
· Diversified clientele of large publishing houses and newspapers
· Location of plant in central India gives logistical advantage


Consolidated Financials
(Rs. In Lacs)
2004 A : 2005 A
Total Income 4540 : 4825
PAT 72 : 265
EPS (Rs.) 1.03 : 3.79
PE at price of Rs. 30 is 8
RONW(%) 9.19 : 22.01

SOLAR EXPLOSIVES LTD-IPO

ssue Opens: 09 March, 2006
Issue Closes: 13 March, 2006
Issue Size : 4,400,000(No. of Shares)

Lower Price Band : Rs.170
Upper Price Band : Rs.190

Application Multiple: 30 and in multiples there off starting with atleast 30 shares
Maximum Shares: 510 for retail investors

Information URL : http://www.solarexplosives.com
Prospectus URL : http://www.sebi.gov.in/dp/solardraftrhp.pdf

About the Company:

One of the largest manufacturers and suppliers of explosives and explosive accessories in India. Manufacturing facilities situated in and around Nagpur. It has one of the largest licensed capacity for Bulk Explosives and Cartridge Explosives. Client base comprises major public and private sector Companies like Coal India Limited, SAIL, Hindusthan Zinc etc.

Objectives of the Issue:

· To set up Support and Transport Plants for Bulk Explosives mainly in eastern India to cater to coal and iron ore mines in that region
· To set up unit overseas in Africa, for manufacture of Bulk Explosives, Cartridge Explosives and Magazine(Storage) facility.
· Fund requirement of Rs. 76.38 Crores to be met wholly through proceeds of IPO

Key Strengths
· Cost efficient manufacturing
· An ISO 9001:2000 accredited company; strong focus on quality
· Complete range of products
· Experienced management team
· Technical manpower
Consolidated Financials
(Rs. In Lacs)
2004-05 : April-Sep 2005
Total Income 8520 : 7236
PAT 880 : 1143.98
EPS 20.63 (mar 31, 2005)
PE at price of Rs. 190 is 9.2X
NAV per share (Rs.) 78.16 : 37.14*
RONW 30.05%