Goli News: Ink-maker Chelpark plans IPO as Shiv Sena revives demand

BANGALORE, India

Chelpark Company is planning an initial public offer (IPO) of shares, taking the old company public just when it was planning to shut down on the back of demand shrinking amid the rise of digital screens that made old-fashioned ink redundant, its chief executive officer Fountain Kumar said on Monday.
"We must thank the Shiv Sena, without whose help we might have ended up with ink, oops, egg on our face," Fountain Kumar told reporters in Bangalore, from where it was functioning in a sulking mood that analysts compared to L.K. Advani. "We can now match Cafe Coffee Day in our expansion mode, and for every branch of Sena, we can open an ink showroom."
Chelpark used to be a subsidiary of Parker Pen Company, but lost its momentum. While Parker could be sold with Amitabh Bachchan as a model, Chelpark had given up all hope, until Shiv Saininks Sainiks came along to boost demand with their attempts to blacken the face of anyone who disagreed with them, including some who agreed with them but whom they could not understand because they had no time to listen.
Investment bankers were worried about the Chelpark IPO as it could hurt the chances for Coffee Day Enterprises, which owns CCD, and IndiGo Airlines, which are also going public.
"I think we may delay the IPO, which, unlike our flights, may not be on time" an IndiGo spokesman told our bureau.
The Swadeshi Jagran Manch welcomed the development.
"We have saved the inking sinking industry from the doldrums," the Pradeshik Swabhiman Siyahi Punarnirman Sanghathan, a frontal group representing the SJM,said in a statement.
Baba Ramdev was scheduled to hold a news conference later in the day to announce his own brand, Patanjali Siyahi.
"Our ink will be purer, and will be made from herbal leaves," an aide of Baba Ramdev said.
"Chelpark needs to be tested for unsafe content."