Tuesday, December 27, 2016

IPO ANALYSIS: PROLIFE INDUSTRIES LIMITED -AVOID

ISSUE DETAILS:

ISSUE OPENS / CLOSES ON
27-12 /30-12-2016
Promoters
MANINDER SINGH JOLLY, Mrs. ANUREET KAUR JOLLY
Business
Manufacturers of special and exclusive range of intermediates for dyes, pigments, pharmaceuticals, agrochemicals.

ISSUE SIZE
PUBLIC ISSUE OF 11,10,000 EQUITY SHARES
FACE VALUE
Rs 10
PRICE BAND
RS 38
LISTINGS
BSE SME
BRLMs
SWASTIKA INVESTSMART
REGISTRAR
Link Intime

AVOID THE IPO.

The following two risk factors are enough  to stay away from the IPO.

1. SEBI has filed prosecution against Tripex Overseas Limited & Others – Mr. Maninder Singh Jolly, promoter-Director of our Company. SEBI has filed prosecution against Tripex Overseas Limited & Others – Mr. Maninder Singh Jolly, promoter Director of our Company. Mr. Maninder Singh Jolly for violating regulation 3(d), 4(2) (f) and 4 (2) (r) of SEBI (PFUTP) Act in the securities of Tripex Overseas Limited under section 24(1) of SEBI Act in the court 9th Additional Chief Metropolitan Magistrate Bandra Mumbai on 22nd February, 2013. The said offence is punishable u/s. 24(1) read with section 27 of SEBI Act with imprisonment which may extend to 10 years or with fine which may extend to 25 crores or with both.

2. The Company has not made provision for Gratuity Payment as required under The Payment of Gratuity Act 1972. The company has not complied with AS-15- Employee Benefits as issued by ICAI.

No comments:

Post a Comment