The initial public offer (IPO) of Pradip Overseas was fully bid on the first day of the issue on Thursday, 11 March 2010. The IPO was subscribed 1.52 by 15:00 IST, NSE data showed. The price band for the IPO is Rs 100 to Rs 110 a piece. The issue closes on Monday, 15 March 2010.
Pradip Overseas makes home linen products. The company caters to both domestic and export markets. The order book as on February 15, 2010 was Rs 333.78 crore, comprising export orders Rs 101.51 crore and domestic orders Rs 232.27 crore. Exports constituted around 45-50% of the net sales in the past three years. Majority of the company's exports are indirect exports and primarily shipped to American and European markets.