IPO of Sintercom India open :: Free stock tips

Sintercom India Limited which is engaged in the business of manufacturing sintered metal automotive components of engines, announced date for its upcoming SME IPO in India. The issue will start from 5 Feb, 2018 and will close on 7 Feb, 2018. The total issue size is 65,46,000 equity shares.

The price band is Rs 63 to Rs 65 per equity share while offer size is Rs 42.55 crore. The face value of this public offer is 10 per share and will be listed on National Stock Exchange platform.

The minimum bid lot is 2000 equity shares and its multiples thereafter. The IPO of 65,46,000 equity shares consists of a fresh issue of 30,16,000 equity shares and an OFS upto 10,31,213 equity shares by Victora Stock Invest P. Ltd  and up to 24,98,787 equity shares by Maurill Industries Ltd.

Money Maker Research News - Ban On Export of Gold Products Beyond 22 Carats

India has banned the export of gold products beyond 22 carats with immediate effect, as a means of curbing irregularities in the trade. The DGFT (Directorate General of Foreign Trade) issued a notice limiting shipments of jewelery, coins and medallions to 22 carats or below, without citing a reason.

As per the industry calculation, India exports about 170 tons, of jewelery & medallions made up of gold. Ornaments made out of 24 carat gold contributes about 15 percent of this. Many jewelers were importing gold coins in the pure form and shipping it out of India after converting it into jewelery with small value addition. However, there were no data as to how much of the exports were above 22 carats. 

Gold medallions and coins made up 15 percent of the country’s total gems and jewelery exports by value in the fiscal ended March, as per data from the Gems & Jewelers export promotion Council.