GeeCee Ventures Limited

GeeCee Ventures Limited (Formerly Gwalior Chemical Industries Limited) is promoted by highly experienced entrepreneurs in the field of Manufacturing, Construction, Financial Services & Trading. The Company was incorporated in 1984 as a private limited company and is currently listed on National Stock Exchange of India Limited and BSE Limited. The group was primarily into the business of manufacturing and marketing of specialty chemicals, catering to both the domestic and exports customers in the agrochemical, paints and coatings, dyes and flavour & fragrance industries. In August 2009, as a part of diversification strategy adopted by the Company, it sold its main manufacturing unit at Nagda, Madhya Pradesh to Lanxess (India) Pvt Limited, a subsidiary of German multinational Lanxess AG. Post the transfer of the Chemical Business the name of the Company name has been changed to GeeCee Ventures Limited. The financials of the company are zig-zag, RoCE is around 8.02% and at CMP its looks reasonably priced. Price difference is around 22.73% and acceptance ratio as per current share holding for retail will be around 5%. So final expected acceptance ratio would be around 20%. So we give NEUTRAL rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal