in the European Union, including Austria, Germany and Switzerland.
The company has four manufacturing units, of which one is located in Panyu, China. The other three units are located in Mumbai, India out of which two units are situated in Santacruz Electronics Export Processing Zone (SEEPZ) and one in Maharashtra Industrial Development Corporation (MIDC), in Mumbai.
Primary market experts were of the view that a lot depends on the success Tara Jewels' IPO as it would pave a way forward for other companies planning to tap the primary market. Further, experts also highlighted the importance of right pricing to attract retail investors, who have remained on the sidelines for the last six to eight quarters as a result of poor market conditions and below-par returns on their investments.
Prithvi Haldea, CMD, Prime Database, said IPOs are based on timing and the market may not see a revival unless large-sized IPO (R3,000-5,000 crore) tap the market. “Bharti Infratel IPO is around the corner and is crucial for the market. If it does well, then we can see a revival in the primary market,” Haldea said.
According to exchange data, primary market listings in the first nine months of CY12 have been at their lowest level since 2003, with seven companies successfully listing their IPOs. Two companies — Plastene India and Samvardhana Motherson Finance — withdrew their IPOs due to poor response.
* Previous IPO in main market was VKS Project in June end
* 9 IPOs were launched in 2012, but two were withdrawn
* 2012 was the worst year for primary market, lowest number of IPOs since 2004