Astec has been granted ISO 9001:2000 Certificate of Assessment by International Standards Certification Pvt limited, Australia for “Design, Development, Manufacture and Supply of Organic Chemical and Intermediates for Pharmaceutical and Agrochemical Industry”.
Issue Open: Oct 29, 2009 - Nov 04, 2009
Price Band: Rs. 77 - Rs. 82 Per Equity Share
Minimum Bid Size: 75 Shares
Issue Size: 7,500,000 Equity Shares of Rs. 10
Issue Size ( Crore) : Rs. 57.75 - 61.50 Crore
Face value: Rs. 10 Per Equity Share
Issue Type: 100% Book Built Issue IPO
Listing At: BSE, NSE
Maxium subscription Amount for Retail Investor: RS. 100000
Incorporated in 1994, Astec LifeSciences Limited is engaged in business of Agrochemicals and Pharmaceuticals. Company is primarily involved in the production of active ingredients and intermediates for agrochemicals and pharmaceutical segment. Hexaconazole, Tebuconazole, Metalaxyl and Propiconazole are some of their key products in agrochemical segment which are generally used in crop protection and Dicap is one of the key Pharmaceutical intermediate which is used in manufacture of antifungal agents.
IPO Grading / Rating
CARE has assigned an IPO Grade 2 to Astec LifeSciences Limited IPO. This means as per CARE, company has below average fundamentals. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
Looking at the CARE ratings and the way recent IPO's has performed in markets, I strongly believe there is no point in investing this IPO. It is better to wait and watch the stock when it lists on bourses. Do not invest in IPO of ASTEC LIFESCIENCES would be my advice.
