High risk investors may apply for Bhartiya Global IPO: SMC

MUMBAI: SMC Research is of the view that investors with high risk appetite can apply for the initial public offering of Bhartiya Global Infomedia. The company is set to enter the capital markets with and IPO to raise between Rs 193-202 crore by issuing shares in the price band of Rs 75-82 per share of Rs 10 each.

“The IT hardware as well as software industry is highly competitive and is heavily influenced by large players. Moreover, the company does not have a very long track record of operations.

The financials of the company do not justify the valuations of the company either. Only investors with a very high risk appetite may consider the issue,” it added.

The company specializes in IT security and automation software solutions related to media & entertainment industry. Current business operations consist of information technology based solutions-RFID & Smart Card and Digital Post Production Studio (Digital Post-Production Studio at Andheri West, Mumbai namely “BGIL Studio”).

The company has developed in-house software ERP product, customized software development, training, consultancy, trading, animation and RFID based solutions. The company also designs & develops WAP enabled products for clients.