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6379. ranviraaj  Jul 26, 2016 11:50:40 PM IST Reply

S P Apparels Ltd IPO

Huge compitition ...no moat...huge debt ...debt to equity ratio 2+....anybody can make jeans+T shirts+any clothes...big no from me.....better have a look at Kewal Kiran ...
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6378. eagle n septas frendz  Jul 26, 2016 11:45:27 PM IST Reply

S P Apparels Ltd IPO

in my view 350 to 400 per share premium grey market will start...
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6377. Tejas Patel  Jul 26, 2016 11:31:08 PM IST Reply

Advanced Enzyme Technologies Ltd IPO

Listing at 1250. ... + ... ... ...
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6377.1. HipHIpHurray  Jul 27, 2016 5:38:20 AM IST

Advanced Enzyme Technologies Ltd IPO

Lets hope we get something....these IPO''s are too small for INDIA....they should not allow HNI and NII and QIB till all retail people get shares...only left overs should be given to them...for the people by the people...why should we get peanuts and they qty...SEBI should change the formula...
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6376. Mahadev  Jul 26, 2016 11:26:24 PM IST Reply

S P Apparels Ltd IPO

East & west whose IPO has grey which is best...
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6375. Gravitas  Jul 26, 2016 11:25:53 PM IST Reply

Dilip Buildcon Ltd IPO

@ Bangalore King & IPO Bhavnagar,
Great posts!

I was intrigued with what the company has achieved in such a short span. But, the ''end'' should be judged with the ''means'' used to achieve it. If I invest, I will be directly rewarding the corrupts.

The promoter has close ties to alleged murderers....was found with 1,000 Cr unaccounted cash....many secret files pertaining to govt officials, projects etc were found in various raids conducted at his place...I stopped scouring for more dirt after reading these!
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6375.1. Gravitas  Jul 26, 2016 11:30:46 PM IST

Dilip Buildcon Ltd IPO

OK. Slight correction....1000 Cr unaccounted wealth was seized from Dilip Buildcon & one other Contractor. But u get the drift, right?
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6374. Bhavu  Jul 26, 2016 10:59:34 PM IST Reply

S P Apparels Ltd IPO

Eagle ji konsa IPO achha hai Dilip ya sp
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6374.1. Eagleye  Jul 27, 2016 6:33:09 AM IST
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6373. bangalore king  Jul 26, 2016 10:15:15 PM IST Reply

Dilip Buildcon Ltd IPO

READ all of YOU very carefully !

Too much to wonder and worry

Dilip Buildcon’s (DBL) high order book and standalone revenue CAGR
over FY11-15 (53%/ 57%) has not yielded sufficient cash (cum. pre-tax
CFO/EBITDA of 40%). Higher-than-industry receivable and inventory
days result in industry-leading cash conversion cycle (112 days). Whilst
growth prospects appear strong, we are surprised and uncertain of
sustainability of industry-high EBITDA margins (FY15: 22% vs 10-14%
for peers); meaningful unwinding of working capital is unlikely given
changes in NHAI payment rules hence standalone debt/ equity (FY15:
2.5x vs <0.8x for peers) poses risks to net margins. IPO proceeds
should help reduce debt but equity will be needed to fund the recently
won NHAI BOT project (`3bn needed). Corporate governance concerns
emanate from pending litigations against promoters and media
articles suggesting political connectivity and questionable behavior.

Competitive position: MODERATE Changes to this position: STABLE

A fast growing contractor with a burgeoning order book
DBL’s order book has remarkably elevated at >50% CAGR over FY11-15 and
DBL now ranks amongst the largest road EPC contractors in India (Sep-15 book
of `103bn). Though its book-to-bill is only marginally above peer average, its
order book to net worth is materially higher (10x). An analysis of orders won
from NHAI indicates that DBL has bid well below NHAI’s indicative cost.
Revenue CAGR of 57% over FY11-15 is well ahead of peers.

Strong order book, but can the balance sheet support it?
DBL’s inventory and receivable days are well above peers. So, its cash
conversion has been less than ideal (pre-tax CFO/EBITDA: 38% over FY11-
1HFY16) and leverage is higher (2.5x D/E in FY15 vs 0.2-0.8x for peers). Bulk
of IPO proceeds of up to `4.3bn will be utilized to retire debt and fund working
capital. Internal accruals will need to increase materially to fund its new large
NHAI BOT project (`3bn of equity required).

High margins weighed down by interest cost
DBL’s 2x peer-set margins are driven primarily by superior gross margins.
Given road dependence (standard NHAI jobs, high competition, limited
sourcing advantages), limited scope of bonus claims and high dependence on
sub-contracting, we find margins too high. High standalone leverage and
finance cost (15% of average debt in FY15) have rendered PAT margins in line
with peers, maintaining high risk to net margins.

Reduced IPO size; no progress in leverage, cash, corporate governance
Reduced fund-raise of `4.5bn from `6.3bn has lowered fresh funds into the
company more than for exiting investors/promoters. We believe money raised
from minorities should be used to strengthen the balance sheet or protect from
future shocks of growth, margins, and cash (very frequent in this industry).

"""""" Valuation should be at discount to peers for corporate governance issues
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6372. abhay  Jul 26, 2016 10:03:22 PM IST Reply

Dilip Buildcon Ltd IPO

DBL GMP 20RS SELLER
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6371. Arpan Hindocha  Jul 26, 2016 9:46:48 PM IST Reply

Advanced Enzyme Technologies Ltd IPO

Hey Guys, I applied through online ASBA through Union Bank of India. My amount got marked as lien and I also got the conformation mail from NSE with my bid details. Still I can check my bid details on NSE website and the data is there but when I checked my Union Bank a/c, the lien amount got unblocked without my authorization/knowledge.

I contacted the branch and called on their ASBA help-line but they were clueless too and I have not received any satisfactory answer.

I am not new to ASBA online as I have previously applied for L&T Infotech IPO the same way with the same bank and in past also used SBI for ASBA w/o any problem.

Does any one know why this happened?

Thanks1
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6371.1. BlueMoon  Jul 26, 2016 9:50:09 PM IST

Advanced Enzyme Technologies Ltd IPO

same issue is with me as well..
Union ASBA is the worst one.
Few days bask the amount was in Lien and now it''s unblocked...
I have sent an email to unionbank GM. lets see if they reply anything....
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6371.2. Arpan Hindocha  Jul 26, 2016 11:00:55 PM IST

Advanced Enzyme Technologies Ltd IPO

@BlueMoon!
Seriously! Never had any problem with SBI!
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6371.3. Histock  Jul 27, 2016 12:23:31 AM IST

Advanced Enzyme Technologies Ltd IPO

SBI ASBA is best...easy and hassle free..
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6370. kingsuper  Jul 26, 2016 9:39:56 PM IST Reply

Advanced Enzyme Technologies Ltd IPO

Linkintime always linknotontime
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6369. Jesh  Jul 26, 2016 9:09:35 PM IST Reply

S P Apparels Ltd IPO

Dear Eagleye....
What would be the GMP for SPA ??
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6369.1. Eagleye  Jul 26, 2016 9:12:37 PM IST

S P Apparels Ltd IPO

SPA is not active in Grey Market
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6369.2. Jesh  Jul 26, 2016 9:14:48 PM IST

S P Apparels Ltd IPO

Thanks for ur kind prompt response. What about Dilip B ??
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6369.3. Eagleye  Jul 26, 2016 9:58:41 PM IST

S P Apparels Ltd IPO

DBL GMP 25/- seller
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6369.4. abhay  Jul 26, 2016 10:02:06 PM IST

S P Apparels Ltd IPO

DBL 20 SELLER MAM.....
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6369.5. eagle n septas frendz  Jul 26, 2016 11:48:36 PM IST

S P Apparels Ltd IPO

eagle eye this will be block buster ipo like rajni sir flim kabali...
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6368. S J P Shares  Jul 26, 2016 8:58:05 PM IST Reply

S P Apparels Ltd IPO

GMP RS.65/68

Apply for
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6367. Jigar Bhatt  Jul 26, 2016 8:38:49 PM IST Reply

Dilip Buildcon Ltd IPO

Linkintime ka ipo kab ayega dekho...
Surprisingly from last 5-7 ipos everytime register is linkintime...

Accha paisa bana rahi ha company is waqt...
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6367.1. Chem cho  Jul 26, 2016 11:04:15 PM IST

Dilip Buildcon Ltd IPO

seems karvy is banned for ????????
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6366. JD Shah  Jul 26, 2016 8:35:18 PM IST Reply
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6365. Viraj  Jul 26, 2016 8:33:26 PM IST Reply

Advanced Enzyme Technologies Ltd IPO

Aet Allotment 28''july evening..
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6364. ajay rajwaniya  Jul 26, 2016 8:23:58 PM IST Reply
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6363. ajay rajwaniya  Jul 26, 2016 8:23:57 PM IST Reply
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6362. SunilNapa  Jul 26, 2016 8:23:07 PM IST Reply

S P Apparels Ltd IPO

Is this IPO recommended to buy ?
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6361. Arup jamshed  Jul 26, 2016 8:14:25 PM IST Reply

Advanced Enzyme Technologies Ltd IPO

Allotmen will come 29th night, hopefully
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6360. STOCKT  Jul 26, 2016 8:13:13 PM IST Reply

Commercial Syn Bags Ltd IPO

company to incur huge losses in result to be announced. insider to company has said their margins have been hit badly and no demand of bags have been seen this qtr due to tough competition.
in coming months and years it will post huge losses as inventory is going up .
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