Paper Products Maker-Olympic Cards Files For Rs27Cr IPO
Chennai based paper/board based product manufacturer - Olympic Cards Limited has filed a DRHP to raise upto Rs27Cr.
The funds will be used for setting up a new manufacturing unit near Chennai and setting up 4 retail outlets of the company.
Ashika Capital Limited is the book running lead manager to the issue.
Olympic was incorporated in 1992 as Olympic Business Credits (Madras) Pvt Ltd. The name was changed to Olmpic Cards Ltd in 1998. The company manufactures Wedding Cards, Greeting Cards, Envelopes, Letter Heads, Business Cards, Calendars, Notebooks, Account Books,etc.
The company earns 49% of it's Rs38Cr revenue from wedding cards, while envelops and greeting cards contribute 11% and 8% respectively.
Olympic's Peers on BSE
The primary market has seen very few below 50Cr IPOs and for understandable reasons.The market is sleeping. Though a popular bias would like to believe that these are the worst of the lot and will not perform - and quite often they tank spectacularly - but there are cases of value(Read More).
I am not saying that this IPO would be a disaster, but here is a list of IPOs which turned out to be disasters.Top 10 IPO Disaster Ponzi Frauds (Just a Year)
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