Timbor Home IPO opens on 30 May

May 24, 2011   ·   0 Comments

Timbor Home IPO will open on May 30 and close on Jun 01 for qualified institutional bidders and on Jun 02 for retail and non-institutional bidders. Timbor plans to issue 3.69 million shares through the IPO and will use the proceeds to fund its capex of Rs 181 million. The proceeds will be utilised to buy new machineries for its existing plants, set up 20 new stores under the COCO model and to fund its working capital requirements.

www.stockssavvy.comTimbor is a manufacturer and retailer of modular kitchens, furniture and doors, and door and window frames. Currently, the company has 84 retail outlets, of which 81 are franchise stores and three are self-owned and operated.

CRISIL Equities has assigned a grade of 1/5 to the proposed initial public offer (IPO) of Timbor Home, which indicates that the fundamentals of the IPO are ‘poor’ relative to other listed equity securities in India

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