Sagar Diamonds LTD has an IPO that promised high and now they are either out of business or at pennies if anything. People expected an opening at $45 and look at these stats:

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They are engaged in manufacturing and exporting of rough and polished diamonds procured from the trusted and certified suppliers and in jewelry making. They are also involved in trading of diamond and processing by trained and qualified workers on job work basis. their product range includes rings, chain, mangalsutra, earrings and necklaces, which are carefully handcrafted by skilled artisans. They have their manufacturing facility at their factory unit located in Sachin (S.E.Z), Gujarat having a total area of approximately 1,000 sq. ft. As on March 31, 2017, this facility had a capacity of Gold and Silver Jewelry of 35,000 gram per month. In the month of July 2017, the Company have consumed 1,000 gram of Silver and 28 gram of Gold

Sagar Diamonds IPO was a total bust, beware.