Jyothy Laboratories IPO opened for subscription on Thursday. The share with face value of Rs 5 each is offered at a price band between Rs 620 and Rs 690 per equity share. After lacklustre first day, second day collection was 0.03 times.

Details:

As per India Infoline, Jyothy Labs well placed for healthy growth. As per India Infoline report:

Jyothy Laboratories (JLL) is an FMCG company making a range of branded products, including fabric whiteners, mosquito repellents, dish-washing soaps, soaps and incense. Its key brands are Ujala, Maxo, Exo, Jeeva and Maya.

Investment summary

* Ujala is a well-known brand of fabric whitener, with dominant market share of approximately 72% in the category

* Local presence and wide distribution reach

* Targets the rural market

* Entering into new joint-venture initiatives

Risks and concerns

* Heavily depend on two biggest brands, Ujala and Maxo which contribute 43.6% and 35.4% of its total sales respectively (as on 30 June 2007).

* Dependence on outsourced production through third parties. Any disputes or disagreements may affect their business.

* The company is susceptible to seasonal variations in demand for its products.

Valuations attractive in comparison to the peer group

At the issue price of Rs 620-690, JLL commands an inexpensive P/E (on relative basis) of 18.6x-20.7x based on FY07 EPS of Rs 33.3. The price/book ratio of 3.4x at Rs 690 is also at steep discount to peers. The company is well-placed for healthy growth, given its well-established brand equity, leadership in the fabric whitener segment and strategic alliances. We recommend to Subscribe in the issue.

Barak Valley Cements Limited (BVCL) listed on Friday. BVCL opened at 62.60 and reached a high of 67. It closes at 55.30 a 32% premium. Opening day price averaged 58.39.

Rathi Bars Limited listed on BSE on 23 Nov. It opened at Rs 38 (against issue price of Rs. 35), a meagre premium of 8% on issue price. It reached a high of Rs. 45 before closing at Rs. 31 which lower than issue price.

Poor listing of Rathi Bars was anyway expected considering the company.

So finally Kaushalya Infrastructure Development Corporation Limited garnered 7.20 times subscription with retail investor bidding for 10.15 times of available shares in their segment whereas QIB showing lower interest with only 2.8 times subscription though Non-Institutional investors going for 17.27 times.

Thus does not like this IPO is going to give great returns to the investors.

Allotment status for Mundra Port and Special Economic Zone Ltd IPO that was closed on November 07, 2007 is available at http://203.196.188.27/webapplication/site/display_application.asp

The issue had received bumper response and was oversubscribed by around 115.84 times with retail at 16 times.

Notice on registrar Intime Spectrum Registry Limited

As per information made available by ECS-Refund Banker AXIS BANK

Credit into respective account through ECS can be expected

In Mumbai by : 24/11/2007

Other than Mumbai by : 27/11/2007