Elpro Int....cmp 272.85........A Multibagger in making.....

Friends,
I remember I gave a call at mmb and maybe at ISG way back before Jan 08 at below 100.I do not remember the exact rate.
Well, as I was going through the annoucement at bse today I read this annoucement:

"Elpro International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 20, 2009, inter alia, has converted the 35000 Convertible warrants of Mavi Investment Fund Ltd into 35000 number of Equity Shares of Rs 10/- (Rupees Ten Only) each at a premium of Rs 601/- (Rupees Six Hundred and One only) and shall rank pari passu to the existing shares of the Company."

I am tracking this company since long .
Well, I am here writing what is the company is in :

Read On:

Elpro International Limited was incorporated in July 1962 as a public limited company, in technical and financial collaboration with General Electric, USA. The Company�s corporate headquarters are located in Pune, 170 km from India�s financial capital � Mumbai, and its multi-manufacturing facilities are based out of Pune and Hyderabad.
An ISO 9001-2000 company, Elpro International is the number one manufacturer of Surge Arresters in Asia manufactured with technical know how from GE USA. It is the only manufacturer outside the United States manufacturing Surge Arresters and Zinc Oxide Discs with GE technology � acknowledged to be the best in the world.Elpro�s constant adherence to Excellence in Quality and Expertise in Marketing has ensured a reliable brand image and a dominant market share in each of its product lines in India. It is the first company to introduce & produce Surge Arresters as well as Metal Oxide Gapless Surge Arresters in India. Elpro won the ELCINA award in the �Research & Development� category in 1987and its products have been successfully type tested in renowned laboratories like CESI - Italy, KEMA - Netherlands and CPRI � India. Elpro International is the only manufacturer outside the US that meets IEC as well as ANSI standards.

Laurels Along the Way
The first to introduce & produce Surge Arresters and Metal Oxide Gapless Surge Arresters in India.
The only manufacturer outside the United States manufacturing Surge Arresters and Zinc Oxide Discs with GE technology acknowledged to be the best in the world
ELCINA award for excellence in the development of high quality electronic components
One of the few manufacturers, globally, whose Surge Arresters comply to both IEC and ANSI standards.
Elpro International set up a metal oxide varistor manufacturing plant in its Pune facility in 1986 with technical expertise from GE. To enhance its capabilities further, Elpro acquired a Disconnecting Switch (Isolators) manufacturing company in 1994, Switchgear Manufacturing Company, which was set up in Hyderabad via a technical collaboration with ALPHA Switzerland.Today, Elpro has a presence in international markets including USA, Mexico, Brazil, Columbia, Peru, Italy, France, Turkey, Russia, Ghana, Nigeria, Kenya, Iran, Iraq, Saudi Arabia, Bangladesh, Bhutan, Thailand, Philippines, Vietnam, Taiwan, Korea.As part of its corporate vision to emerge as the leader in surge arresters, Elpro International acquired the Zinc Oxide Disc (active elements of surge arresters) manufacturing line from M/s Harris, Ireland in 2001 and the same was installed in the company�s Pune facilities in the year 2002.M/s. Harris and Elpro, both use GE�s technical expertise. As a result, the two companies share great synergy, which has translated in speedy absorption of technology and processes. At full operation the plant has an annual capacity to process 300 tonnes of Zinc Oxide Powder. With this new facility, Elpro has a combined annual capacity to produce 450 tonnes of Zinc Oxide Discs, making the Company the leading manufacturer and supplier of Zinc Oxide Discs in Asia.Elpro continues to be on the fast track to growth with a strong focus on developing niche products and strategic acquisitions in existing, or new-product areas, with potential for global marketing. Some of Elpro�s national clients include
ABB India;
Bharat Heavy Electricals Limited (BHEL);
National Thermal Power Corporation of India (NTPC);
Reliance Industries;
Siemens India;
Tata Power Company

and international clients include
GE USA;
KWPA Iran;
Saudi Electric Company and Taiwan Power Company.

Elpro International is committed to leading the "next generation" for superior protection of system equipments.


I think after reading this there remains no doubt in my mind that Elpro Int is a multibagger in making.Mavi Invt has converted Warrents at Rs 601 while the prevailing price is still Rs 272....because they know that if they will go and buy these 35,000 shares from the market , they will not get at Rs272 and it will go beyond 600......

Well ,85% is held by promoters and corp bodies.Only 15% is with pucbic with a very small eq of 3.9 cr means 39 lacs shares , with a very small buying it can flare up.
The performance of Elpro is not good since last many qr but the conversion of warrents at much above the CMP is hint for the things to come..........
As usual I may prove wrong.This is my analysis .Do due diligence before buying it......