But I see that their all subsidiaries are new or expecting to do new business.
50% of the IPO proceeds (Rs.200mn) will be invested in Network Communications (Pvt) Ltd which is for BPO
25% of the IPO proceeds (Rs.100mn) will be invested on Adam Apparels to upgrade and increase the number of computerized industrial sewing machines in the existing factories to increase the production capacity
12.5% (Rs.50mn) of the IPO proceeds will be invested in Adam Metals to upgrade the manufacturing facilities and infrastructure and for refurbishments and expansions of the existing machinery, factory and the retail outlet.
The balance 12.5% (Rs.50mn) of IPO proceeds will be invested in other lucrative investments in high growth sectors after proper due diligence. Accordingly it is planned to expand the business of Adam Air-Conditions (Pvt) Ltd which has already started its operations and to launch Adam Automobile (Pvt) Ltd which is planned to start its operations in 2014.
Is it a good IPO ?