Bang Overseas shares debut today

Thebullishtrends: Bang Overseas shares debut today in stock exchanges. Bang Overseas has came to IPO market in the last week of January'08. Bang Overseas involved in fashion fabrics,retail and textiles segment. The fund requirement estimated for Bang Overseas for setting up the new apparel-manufacturing unit is Rs 36.71 crore, retail outlets Rs 10.63 crore, and warehousing and logistic facilities Rs 10.23 crore. The entire expenditure is to be financed by the IPO. Funds are to be deployed over the next two years.

The entire IPO of Bang Overseas subscribed 1.23 times. The price band fixed between Rs.200-207 of Rs.10 per equity share. The IPO has been assigned "IPO Grade 2" by CARE whcih states that below average fundamentals. Bang Overseas shares may debut at Rs.210-220 it is not advisable to take positions in this counter.