The initial public offering (IPO) of Commercial Engineers and Body Builders (CEBBCO) - a designer and manufacturer of vehicle bodies - has opened for subscription. Angel Broking has recommended avoiding the IPO, in its research report dated October 1, 2010.
The issue consists of a fresh issue of Rs 153 crore and an offer for sale of 15,28,587 shares by New York Life Investment Management India Fund (FVCI) II LLC and Commercial Automobiles Private Limited, which is more than Rs 19 crore. The issue will close on October 5, 2010. A price band is at Rs 125-127 a share.
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From: http://www.moneycontrol.com/news/ipo-issues-open/avoid-cebbco-ipo-angel-broking_488567.html
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10/4/10
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