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37. bangalore king  Jun 28, 2016 6:01:25 PM IST Reply

Quess Corp Ltd IPO

The financials for FY 2015 are for 15 months and hence YoY comparison with FY 2016 is not possible as there is seasonality in the business. For FY 2016, consolidated net sales stood at Rs 3435 crore, OP at Rs 164.32 crore and PBT stood at Rs 124.75 crore. Due to MAT credit, the tax rate was lower and, thus, PAT stood at Rs 88.52 crore. At the higher price band of Rs 317, on a diluted equity share capital of the company of Rs 125.90 crore of face value of Rs 10 each, the EPS for FY 2016 works out to Rs 7.

At higher price band of Rs 317, Quess is being offered at a P/E of 45.3 times its FY 2016 earnings.

Nearest comparable listed player is TeamLease. At the current market price of Rs 886, TeamLease is trading at around 60 times its FY 2016 consolidated fully diluted earnings. TeamLease is a debt-free company, while Quess had a long-term borrowing of around Rs 35 crore and short-term borrowing of around Rs 339 crore as on March 2016.

While TeamLease is looking out for acquisitions and has largely grown organically, Quess has successfully integrated and leveraged its previous acquisitions. Around 98% of TeamLease revenue comes from staffing services, where as Quess has a much more diversified customer base and diversified business stream of revenue, which has enabled Quess to generate better OPM of more than 4% for the past four years as compared to around 1% OPM of TeamLease.
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36. bangalore king  Jun 26, 2016 6:07:34 PM IST Reply

Quess Corp Ltd IPO

This week''s IPOs:-
• Quess Corp :- The integrated service provider company is coming up with Rs400 crore issue
which will open on June 29 and close on July 1. In the issue with offer price of Rs310 to Rs317, the
applicant will have to deposit Rs14265 for 45 shares. Listing will be on BSE and NSE. Thomas
Cook promoted company has acquired 9 companies till now. More details are given in separate
box.
Subscription :- It may get 20-25 times subscription in retail, 50 times in QIB and 100 times in
HNI segments.
Discovery Price :- IT could be at upper price band of Rs317.
Allotment/Refund :- Allotment could be on July 7 and fund will be unlocked on July 8. In retail
segment one out of 14/15 applicants may get 45 shares through lottery system.


GREY MARKET MOVEMENT
Premiums highly volatile in Mahanagar Gas and Quess Corp
Premiums come down to buyers 110 in Mahanagar Gas
Application rates come down from 1400 to 800 in Sakar Bazaar:
Deals stopped with 6 times subscription in retail
Quess Corp premiums at buyers 170

Mahanagar Gas :- The premiums starte at Rs95/1000 but reached 140 and application
rates started at Rs100 and reached 1400 level.
This week, the premiums came down to 90/95 and application rates came down to 800/850.
Brexit brought premiums to 80 and application rates to 800 level.
Record subscription resulted in higher premiums of buyers 110/112, while deals blocked in
Sakar Bazaar.
Quess Corp :- The buyers are in the market at premiums of 1700. Only 10% shares will be
allotted in retail so hardly any deal taking place for application form. But in Sakar Bazaar ''Subject
to'' forms are being bought at price of Rs4000. It may witness fancy.

Credit in Account :- Share may be credited in account on July 11.
Listing :- Listing may take place on July 12 around Rs470-500 and
may cross Rs525-550 level in short term.
* SME IPO:-
• Zeal Agro :- Gujarat based company is coming up with Rs14.75
crore issue offering 11.35 lakh shares at price of Rs130. More details
are given in separate box.
• KKV Agro Powers Ltd :- The company will raise Rs3.56 crore
through offering 1.12 lakh equity shares at price of Rs320. More details
are given in separate box.
* PSU Disinvestment :-
• Oil India :- The government has appointed seven merchant bankers
for raising Rs2000 crore by offering 10% (6.01 crore shares) stake.
The current stock prices are around Rs350
Coal India :- The company will buy back 10% stake from the government
at cost of Rs6000 crore. The company has Rs38000 crore
fund on hand.
• Hudco :- The government has granted nod for 10% stake sale to
raise Rs565 billion.
* Upcoming Mainline Issues:-
• L&T Infotech :- It may come up with issue on July 11 to raise Rs1500
crore. It has cut the size by 20% after advice by investment bankers.
• Advanced Enzyme :- It will come up with issue offering Rs60 crore
fresh equity and 44,73,470 crore shares through OFS in third week of
July.
• RBL :- It may come up with Rs200 crore issue in end of July.
• Dilip Buildcone :- The company may come up with issue offering Rs430 crore fresh equity
and 1136 millions shares through OFS by end of july.
• VarunBeverages :- It has filed DRHP for Rs1000 crore issue.
• PNB Housing :- It has appointed three merchant bankers for Rs2015 crore IPO.
• Metropolis Health Care :- It plans Rs1000 crore IPO.
• Sohanlal Commodities Management :- It plans Rs500 crore issue.
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36.1. Khemka  Jun 26, 2016 6:59:57 PM IST

Quess Corp Ltd IPO


Thanks dear _/\_
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36.2. BADAYA  Jun 26, 2016 8:32:47 PM IST

Quess Corp Ltd IPO

great piece of information :)
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36.3. KSC  Jun 26, 2016 10:17:53 PM IST

Quess Corp Ltd IPO

Sukriya BKing
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35. bangalore king  Jun 18, 2016 1:19:53 PM IST Reply

Mahanagar Gas Limited IPO

As many as 33 small and medium enterprises are planning to line up initial public offers (IPOs) to fund business expansion and meet working capital requirements.

These companies, which are planning to list on BSE’s SME platform, are expected to float IPOs in the coming months.
The exchange has already given go-ahead to 15 SMEs, while another 18 have filed their draft offer documents with BSE and are awaiting for approval, as per the latest information.

Listing will help these companies to enter capital markets and finally migrate to the main board platform.
SMEs, which have lined up their IPOs include, Trine Entertainment, Monarch Apparels (India) Ltd, Shareway Securities, Octaware Technologies, Worth Infra Industries, AGI Hospitalities, Yash Chemex and Advance Syntex.

BSE MD and CEO Ashishkumar Chauhan, last month, had said that exchange expects 30 IPOs on its SME platform in the next three months.
BSE launched SME platforms in March 2012 and since then, 139 companies have been listed on the platform. These firms together have a market capitalisation of Rs 10,126.35 crore.

Out of these 33 firms, 18 companies have migrated to the mainboard platform. Currently, there are 121 companies listed on the SME platform.
As per the norm, companies looking to list on the BSE’s SME platform require have post-issue paid up capital of a minimum Rs 3 crore.
Besides, they need to have a net worth of at least Rs 3 crore (as per the latest audited financial results) to qualify for the listing.

SMEs list themselves on bourse for easy access to capital, enhanced visibility, growth opportunities, exit route for old shareholders, among others.
After meeting required norms, SMEs can seek migration from SME Exchange to main board.
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34. bangalore king  Jun 11, 2016 9:27:53 PM IST Reply

Mahanagar Gas Limited IPO

Mahanagar Gas :- Mahanagar Gas''s IPO will open during timeline of 20-22 June. Price
band will be around Rs. 455 to Rs. 485. It''s issue size will be between
Rs. 122.6 crore to Rs. 1197.7 crore and face value of Rs. 10.
Minimum for 30 shares can be applied in retails. Retail allocation
will be 35%. Mahanagar Gas I joint venture company of Gail India
and Royal Dutch Shell PLC.
• Advanced Enzyme :- The company was keen to launch its IPO in
2013 but deferred due to uncertainty of the market. The company has
planning to once agian come-up with 44,73,470 equity shares and Rs.
60 crore fresh issue.
• Quess Corp. :- Promoted by Thomos Cook, this Bangluru based
company is eager to launch Rs. 400 crore IPO. The IPO will be come
by third-fourth week of the June.
* SME IPO - Listing :- Last week Ahmedabad based Shanti Education
of Chiripal Group entered into the domestic bourses with fixed
price IPO of Rs. 90. The company planned to garner Rs. 39.60 crore
through the IPO.
* United Polyfab - Listing :- United Plyfab''s IPO was listed with
discount price of Rs. 42.50 which gone up Rs. 44 and then showed
bottom line of Rs. 42.50 and closed on Rs. 44.
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33. bangalore king  Jun 9, 2016 8:28:36 PM IST Reply

Mahanagar Gas Limited IPO

Larsen & Toubro Ltd., India’s biggest builder of roads and power plants, has picked advisers to prepare an initial public offering of about Rs1,000 crore ($150 million) for its subsidiary L&T Technology Services Ltd., people with knowledge of the matter said.

The Mumbai-based conglomerate is working with Kotak Mahindra Bank Ltd., Bank of America Corp. and JM Financial Ltd. on the engineering-services unit’s listing, according to the people, who asked not to be identified because the information is private. An IPO filing with India’s capital markets regulator could come as early as July, they said.

Larsen is preparing two separate listings as it seeks to monetize some of its operations, which span finance, ship building and nuclear power. The company also plans to list its software-services unit, Larsen & Toubro Infotech Ltd., as soon as next month after assessing demand and receiving relevant approvals, the people said.

Both offerings are expected to be completed by March next year, they said. Larsen chairman A.M. Naik told reporters on 26 May that the company would decide in a week on the timing of the software division’s listing.

Larsen declined to comment in an e-mailed response.

L&T Technology Services, with more than 10,000 employees, advises makers and distributors of medical devices, phone equipment, automobiles and aircraft, its website said. Larsen serves customers in more than 30 countries in industries including hydrocarbon, infrastructure and defense, according to its website. Bloomberg
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32. bangalore king  Jun 8, 2016 11:06:32 PM IST Reply

Mahanagar Gas Limited IPO

RBL Bank, which intends to hit the capital markets with its initial public offering (IPO) in the coming month, has begun roadshows to market its issue to institutional investors. The final clearance for the IPO from the Securities and Exchange Board of India (Sebi) is at an “advanced stage”, according to sources.

The roadshows are being conducted across Asia-Pacific, the US and the UK, said two people familiar with the matter. The bank, which is looking to raise Rs 1,300-1,500 crore after meeting all regulatory and statutory requirements, has now begun marketing the IPO to domestic investors as well.

A banker involved with the IPO declined to comment on the response to these road shows.
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31. bangalore king  Jun 7, 2016 7:42:31 PM IST Reply

Mahanagar Gas Limited IPO

Mumbai: The queue of companies looking to go public is growing longer, with 8-10 firms preparing to launch their initial share sale in the next two months, said four people with direct knowledge of the matter.
Prospects of a strong monsoon season which bodes well for the economy and markets have encouraged companies to speed-up work on initial public offerings (IPOs), the four said on condition of anonymity as work on launching the IPOs is under way.
Some of the companies looking to go public include RBL Bank Ltd, Larsen & Toubro Infotech Ltd, GVR Infra Projects Ltd, Quess Corp. Ltd, Sandhar Technologies Ltd, GNA Axles Ltd, Centre For Sight Ltd and Advanced Enzyme Technologies Ltd.
Together these companies will raise equity capital worth `6,000 crore, as per estimates by Prime Database, a primary market tracker.
“We are targeting a few IPO deals in the next 1-2 months. Monsoon is very crucial for the market and everything depends on that for the moment,” said a top official at a domestic investment bank on condition of anonymity.
The Sensex has risen over 6% in the last 11 sessions on hopes of above-normal rainfall, while the latest quarterly corporate earnings showed improvement and India’s economy clocked better-than-expected growth for the previous quarter as well as fiscal year.
Private weather foreIMD).
Mint reported on 2 June that Mahanagar Gas Ltd (MGL) is likely to launch a share sale in the third week of June, with 20-22 June as the likely date. Existing shareholders—GAIL (India) Ltd and Royal Dutch Shell Plc—will sell 12.5% stake each and raise a total of about `1,200 crore.
MGL is the sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas, and Raigad district in Maharashtra. CNG is used in motor vehicles and PNG for household, commercial and industrial use.
Scheduled commercial bank RBL Bank Ltd intends to launch its offer in July, said two people familiar with the matter. The bank is looking to raise about `1,500 crore after meeting all regulatory and statutory guidelines. RBL received a conditional approval from capital markets regulator Securities and Exchange Board of India (Sebi) for the IPO last month.
Business Standard reported on 1 June that RBL settled a securities market-related violation with Sebi under the consent mechanism. RBL Bank paid `47.6 lakh as the part of the consent terms to Sebi and also highlighted an exit opportunity to its investors. The Sebi settlement order was passed on 30 May.
The IPO was kept in abeyance owing to violations of the Companies Act. The previous board had allotted shares via rights issues to 2,591 investors in February 2003—far higher than the 200 investors stipulated under law.
RBL will become the first bank to list on stock exchanges in nearly six years. In December 2010, Punjab & Sind Bank launched its IPO to raise around `480 crore.
IT services company L&T Infotech Ltd is targeting its share sale by mid-to-late July, said one person with direct knowledge of the development. The subsidiary company of Larsen and Toubro Ltd (L&T) is looking to sell shares worth `1,400 crore. The company was earlier looking to raise up to `2,000 crore but a 20% reduction in issue size prompted the company to withdraw its earlier proposal with Sebi and file a new application.
Quess Corp. Ltd, a business services provider owned by Thomas Cook (India) Ltd, is also looking to launch its IPO in early July. The proposed IPO will see the firm raise `400 crore.
Quess is an integrated business services provider, offering various services such as recruitment, temporary staffing, technology staffing, IT products and solutions, among others. The company plans to use the IPO proceeds for repayment of debt, funding capital expenditure and working capital requirements as well as for acquisitions and other strategic initiatives.
Emails to companies on Monday regarding their IPO decisions did not yield any response at the time of the story being published.
“We are seeing companies with 3-4 meaningful-sized deals looking to hit the markets over the next couple of months. Moreover, many companies are preparing for IPOs and are looking to file their papers with Sebi in the next four-five months. While there will be volatility due to global factors, the IPO pipeline remains robust and in my view companies could potentially raise about Rs 25,000-30,000 crore by April 2017,” said Subhrajit Roy, executive director, equity capital markets-origination, Kotak Mahindra Capital Co. Ltd.
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30. bangalore king  Jun 7, 2016 7:30:57 PM IST Reply

Shanti Educational Initiatives Ltd IPO

Santi Educational Initiatives, the largest SME IPO on the BSE, managed to raise Rs 40 crore.

First time three FII have subscribed to the tune of 18crores in the IPO , bankers tracking the Issue said.

The issue got subscribed 1.52 times and Rs 60 crores have come through subscription.

Shanti Educational is engaged in the business of providing educational support services to preschools, K-12 and premium category preschools in India .

Since the beginning of the year, 27 companies have filed draft documents to collectively raise over Rs 220 crore through IPOs.

Of these, 21 firms have filed papers to launch IPOs on BSE''s SME platform, while the six plan to list on NSE Emerge.
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29. bangalore king  Jun 7, 2016 2:39:34 AM IST Reply

Ujjivan Financial Services Ltd IPO

Several high net worth individuals (HNIs) have been caught on the wrong foot with their investments in Ujjivan Financial Services. About 600 such investors had placed leveraged bets worth nearly Rs 17,000 crore in its initial public offering (IPO). Shares of Ujjivan listed at a premium of only 10 per cent, which barely covered their interest costs. As IPO loans are given for a very short time, most of them had to liquidate their holdings. Soon after, Ujjivan''s shares saw a spectacular surge of about 60 per cent. On Friday, the stock touched a record high of Rs 400, almost double the issue price of Rs 210, leaving most HNIs red-faced.
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28. bangalore king  May 28, 2016 12:58:08 PM IST Reply

Ujjivan Financial Services Ltd IPO

Alkem RESULTS -

4Q FY16 results impacted by one-off; adjusted PAT surpasses estimate

 Alkem’s net sales for 4QFY16 stood at INR11.4b, up 25% YoY, driven by a strong
domestic performance (up 22% YoY) and impressive ramp-up in the US
business (up 18% YoY). After adjusting for a one-off cost of INR180m, the
EBITDA margin came in at 15.4% (vs. our estimate of 16.4%), with the margin
miss attributed to high R&D expense of 7.6% in 4QFY16 (as compared to ~3.3%
in 9MFY16). After adjusting for MAT credit write-off of INR830m and one-time
other expense, the company’s PAT came in at INR1.5b (vs. our est. of INR1.2b).
 Domestic business’ robust growth to continue despite regulatory headwinds:
Alkem’s domestic business grew by an impressive 22% YoY. Going forward, we
believe that a consistent outperformance in established therapies, coupled
with improvement in productivity of the company’s sales force in the chronic
segment will help partially offset the impact of regulatory headwinds (we
estimate ~16% CAGR till FY18E). According to IMS, Alkem delivered a strong
growth of 16% YoY in Apr-16 (despite a price decline of 2.7% in the NELM
portfolio).
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27. bangalore king  May 26, 2016 12:05:32 AM IST Reply

Ujjivan Financial Services Ltd IPO

May 25: Engineering major L&T on Wednesday said that next week it will decide on the timing of L&T Infotech’s initial public offering.

“In a week’s time we will decide when we would launch the L&T Infotech IPO,” L&T Group Executive Chairman AM Naik told reporters here.

“It would be a week before we can say it will be launched immediately or may be a few months later, but the fact is that it will be launched,” Naik added.

The IPO comprises an offer-for-sale of up to 1.75 crore equity shares by L&T of its subsidiary.
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26. bangalore king  May 12, 2016 6:16:34 PM IST Reply

Parag Milk Foods Ltd IPO

Crompton Greaves Consumer Electricals (CGCEL) to be listed tomorrow

CGCEL is India’s leading consumer electricals company with a presence in fans, lighting, pumps and appliances. The business was operationally demerged from Crompton Greaves in Oct-15 and will be listed on the stock exchanges from 13th May 2016. It must be noted that the Avantha Group has proposed to divest their 34.3% stake to Advent and Temasek for INR20b (INR93/share) and an open offer would be made to the existing shareholders. This price should serve as the floor price, in our view.

Valuation and view

Given CGCEL’s strong RoCE profile (33%/39% in FY17/18) and operating cash flow (INR3.3b in FY17), we believe that the stock deserves to trade at similar multiples as those enjoyed by Havells India. In our view, CGCEL should be listed at a fair price band of INR99-125 (20-25x FY18E EPS)
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26.1. venki  May 12, 2016 7:07:33 PM IST

Parag Milk Foods Ltd IPO

hi
thankx for the info.
what is time? 9.15am or 10am as like other ipos??? what is the probable price of listing and what is offer price??
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26.2. Kumarfam  May 13, 2016 12:57:04 AM IST

Parag Milk Foods Ltd IPO

Ji, can you explain me what type of share is this? I didn''t see it in ipo list, so how it would be?
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25. bangalore king  May 11, 2016 7:51:59 AM IST Reply

Ujjivan Financial Services Ltd IPO

Continuing with improvements in the primary market, the Securities and Exchange Board of India (Sebi) proposes to reduce the time period for the closing of an Initial Public Offering (IPO) and the date of listing to three days from six days. A decision to this effect is expected to be finalised at its board meeting scheduled for May 20, investment bankers privy to the matter told FE. A reduction in the timeline will help limit risks related to market volatility that may unfold during the period. Last month, during his meeting with domestic brokers, Sebi chairman UK Sinha had discussed this issue to understand the problems.

The move comes in less than six months of Sebi shortening the listing time for IPO transactions to six from 12 days.The system was introduced with the objective of reducing costs as well as time associated with an IPO.

“It is a welcome move. We are now moving towards international standards where the gap between IPO and listing is as low as one day. These days all the payments are done in electronic format while share allotments are done through demat accounts. Hence there is scope to make the process quicker,” said Prithvi Haldea, chairman of Prime Database.

However, legal experts who spoke with FE said, this move is ahead of time as the current post-issue compliance process takes atleast four to five days to be completed. “The regulator should ease the post-issue compliance process if the gap between IPO and listing is reduced. Currently, investment bankers need approvals from the regulator and stock exchanges at each and every step of compliance which consumes lot of time,” said a securities lawyer.

He added once bids are screened and invalid bids are excluded, the final list of valid bidders needs to be approved by stock exchanges. Further, the basis of allotment needs an approval from the stock exchanges. Once the allotment process is complete, the company will need a final approval from Sebi and stock exchanges for listing.

“There will be hiccups initially however things will stablise eventually.It is not an unilateral decision, Sebi has consulted market participants while taking the decision,” Haldea added. The Sebi chairman has spoken about the concept of quicker listing during several media interactions. In fact Sebi had proposed draft guidelines for electronic-IPOs through a discussion paper that was released in January 2015. According to the paper, quicker listing could boost retail participation and make it easier for companies to raise money.
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24. bangalore king  May 9, 2016 6:39:54 AM IST Reply

Thyrocare Technologies Ltd IPO

Mahanagar Gas Ltd, India''s second biggest CNG retailer, will launch an initial public offer (IPO) of Rs 1,200 crore this month to get listed on domestic bourses.

British Gas India Pvt Ltd and state-owned GAIL (India) Ltd will sell 12.5 per cent each in the IPO, GAIL chairman and managing director B C Tripathi told PTI here.

"Right now roadshows for the IPO are on. To my mind, the IPO will hit the market in third week of May," he said.

The money raised through the IPO would accrue to the promoters who are selling their stake.

While Mr Tripathi refused to speculate how much the IPO would raise, industry insiders put the sum at Rs 1,000 crore-1,200 crore.

The promoters currently hold 49.75 per cent stake each in MGL, which retails compressed natural gas (CNG) to automobiles and piped cooking gas to households in Mumbai. The Maharashtra government holds a minor 0.49 per cent stake in the firm.

"Pre-IPO, we have sold 10 per cent stake in MGL to Maharashtra government and post public sale of 25 per cent through the IPO, GAIL and BG would hold about 32.5 pre cent stake each," Mr Tripathi said.

The IPO is being managed by Kotak Investment Bank and Citigroup.

Up to 24,694,500 shares in MGL will be sold in the IPO.

Offer for sale will include 12,347,250 shares ease of GAIL and BG. The offer would also include a reservation for eligible employees.

MGL distributes gas to 0.82 million households and over 2,600 small commercial and 55 industrial establishments in and around Mumbai. The company also supplies CNG to vehicles in Mumbai, Thane, Mira-Bhayander, Navi Mumbai and beyond. It has 128 CNG filling stations in Mumbai and Greater Mumbai and 45 more in adjoining cities like Thane, Navi Mumbai and Panvel.

Last year, it supplied CNG to over 0.43 million vehicles.

CNG sales account for about 74 per cent of its revenue while piped cooking gas sales and gas sale to commercial and industrial units make up for the remaining 26 per cent.

For fiscal year 2014-15, the company had reported a profit of Rs 301.01 crore on revenue of Rs 2,135.63 crore.

"We distribute natural gas through an extensive city gas distribution network of pipelines, for which we have the exclusive authorisation to lay, build, expand and operate the CGD network in Mumbai until 2020, its Adjoining Areas until 2030 and the Raigad district until 2040," the company said in the IPO prospectus.

MGL has a supply network of over 4,464 kms of pipelines.

"The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer for sale."

"We believe that the listing of the equity shares will enhance our brand name and provide liquidity to the existing shareholders," the firm said in the IPO papers.
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23. bangalore king  May 7, 2016 9:13:58 PM IST Reply

Parag Milk Foods Ltd IPO

Due to poor response from QIB, the issue is in problem. The offer price
has been changed from Rs220 to 227 to Rs215 to Rs227, i.e. there is no change in upper price
band. The retailers will not be benefited as they are offered Rs12 discount from upper price band.
The issue subscription deadline has been extended from May 6 to May 11.
In past, the issue which reduced offer price and extended deadlines for subscription could sail
through. The offer price is higher and the anchor investors shun away from IPO after the issue got
open. Moreover, leading mutual funds like ICICI, Reliance and HDFC did not participate in the
issue. It is believed that there is a difference of opinion between merchant bankers and selling
shareholders. Moreover, around 55% shares of the promoters are pledged, which has created
negative impact on the issue.
The issue got 1.72 times subscription in retail category in which 10% shares have been allotted.
In case the company had allotted 35% share for retail investors, it could not have got even 60%
subscription. The retail investors are rushing for withdrawal of forms as they apprehend discounted
listing.
On the other hand, lead managers and the promoters are making 11th hour efforts to manage
the issue.
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23.1. Nofear  May 9, 2016 3:52:35 PM IST

Parag Milk Foods Ltd IPO

Bid Details for PARAG as on 09-May-2016 15:45:48 IST
Sr. No      Category      No of Shares
offered/Reserved      No of shares bid for      No of times of total meant for the category
1      Qualified Institutional Buyers(QIBs)      1,06,28,960      23,50,400      0.22
1(a)      Foreign Institutional Investors(FIIs)            20,73,045      
1(b)      Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)            44,005      
1(c)      Mutual funds            2,33,350      
1(d)      Others            0      
2      Non Institutional Investors      51,46,578      25,91,550      0.50
2(a)      Corporates            14,46,185      
2(b)      Individuals(Other than RIIs)            7,04,860      
2(c)      others            4,40,505      
3      Retail Individual Investors(RIIs)      34,31,052      19,98,295      0.58
3(a)      Cut Off            16,07,710      
3(b)      Price bids            3,90,585      
4      Employees      3,00,000      2,65,395      0.88
4(a)      Cut Off            2860      
4(b)      Price Bids            2,62,535      
Total      1,95,06,590      72,05,640      0.37
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22. bangalore king  May 4, 2016 12:07:18 AM IST Reply

Parag Milk Foods Ltd IPO

Mid june !

Bengaluru headquartered business services provider Quess Corp which responded to SEBI’s request for clarifications on the company’s proposed ₹400-crore initial public offering in March, has received the go-ahead from the capital market regulator. Quess Corp is co-owned by Thomas Cook (India), and is promoted by Fairfax Financial and Ajit Isaac. “We filed the DRHP (Draft Red Herring Prospectus) for our IPO with SEBI on February 2 and received a request from SEBI for the first set of clarifications in the first week of March, which we responded to later that month. We received SEBI approval for the IPO on April 26 and will go to the markets in mid-June,” Ajit Isaac, Chairman & MD, Quess Corp,
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22.1. Eagleye  May 4, 2016 7:40:29 AM IST

Parag Milk Foods Ltd IPO

Issue price 317/-
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22.2. Eagleye  May 4, 2016 7:40:48 AM IST
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22.3. jonam  May 4, 2016 8:08:33 AM IST

Parag Milk Foods Ltd IPO

Eagleye, Quess issue price at 317??
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22.4. Eagleye  May 4, 2016 9:06:35 AM IST

Parag Milk Foods Ltd IPO

Yes Jonam Sir,

Quess Issue price will be 317/-
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22.5. jonam  May 4, 2016 9:22:49 AM IST

Parag Milk Foods Ltd IPO

Thanks Eeagleye. Equity would then be 125 crs and six month profit 35 crs. pe around 56.
Looks good for fast growing Co.
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22.6. Eagleye  May 4, 2016 9:33:29 AM IST

Parag Milk Foods Ltd IPO

Post issue MarketCap will be Rs.4,000 Crs.
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22.7. Eagleye  May 4, 2016 9:52:20 AM IST

Parag Milk Foods Ltd IPO

I mean ... with issue price of 317/- per share ... post issue MarketCap will be Rs.4000Crs. ... to be able to justify a Rs.400Crs Issue size representing 10% of free float

... That is how I deduced the issue price will be 317/-
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21. bangalore king  May 3, 2016 10:20:19 AM IST Reply

Parag Milk Foods Ltd IPO

Parag Milk Foods (PMF) is an integrated dairy player with strong brands (Go,
Gowardhan, Pride of Cows and Topp UP) with 57% revenues coming from the
value‐added products and having a 35% market share in high growth Cheese
segment. PMF is expanding processing capacity by 70%, by adding capacity for
Whey powder, Cheese, Paneer, UHT milk and Curd for sustaining strong growth in
the coming few years. Sustained 15‐20% sales growth, debt repayment of Rs1bn
and improvement in cash flows will enable the company achieve 30% PAT CAGR
over FY16‐18.

The stock at 37x FY16E would surely offer ''LIMITED'' listing gains.
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21.1. Chem cho  May 3, 2016 1:13:04 PM IST

Parag Milk Foods Ltd IPO

yes for listing gains
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20. bangalore king  May 2, 2016 5:39:20 PM IST Reply

Parag Milk Foods Ltd IPO

At the lower price band of Rs 220 per equity share of Rs 10 face value, the P/E works out to 43.4 times the annualized EPS of Rs 5.1(on post-IPO equity) for the nine months ended December 2015 and the P/E works out to 71.2 times the EPS of Rs 3.1 (on post-IPO equity) for the financial year ended March 2015 . At the upper band of Rs 227, P/E works out to 44.6 times the annualized EPS of Rs 5.1 (on post-IPO equity) for the nine months ended December 2015 and the P/E works out to 73.1 times the EPS of Rs 3.1 (on post-IPO equity) for the financial year ended March 2015.

Comparable companies such as Hatsun Agro Product, Heritage Foods and Prabhat Diary are trading at P/E of 47.89x, 23.59x and 50.2x on the annualized EPS for the nine months ended December 2015 and 126x, 41.5x and 52x on the EPS for the financial year ended March 2015.
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20.1. Eagleye  May 2, 2016 5:44:50 PM IST

Parag Milk Foods Ltd IPO

So, what is the fair value of Parag as per your calculations ?
(@227 issue price)
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20.2. bangalore king  May 2, 2016 5:59:11 PM IST

Parag Milk Foods Ltd IPO

hi Eagleye, I see not much is left on table.. at par.. may be retail discount is all we have.
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20.3. C D JOSHI  May 2, 2016 8:00:39 PM IST

Parag Milk Foods Ltd IPO

hii eagle eye...as per SCANNER(Refer comment 40) 227 price is deduction of 450cr/19,850,000(ofs).. But fresh equity shares is 350 cr...that means 750cr - 325 cr=425 n not 450cr shares...which comes to the price of 214Rs....Right??? If i m wrong let me know buddy...
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19. bangalore king  May 1, 2016 2:48:17 PM IST Reply

Parag Milk Foods Ltd IPO

On the valuation front, company at higher price band is available at P/E of 45x on post issue as we annualised 9MFY16 earnings; whereas Prabhat Dairy is currently trading at P/E of 46.6x on TTM basis with EPS of Rs 2.4. In our analysis, we see that company looks costly against other peers except Hatsun Agro which is trading at a PE of 57 and Mcap/ sales of 1.5x its trailing four quarters'' revenues.

For retail investors, the sweet spot will be the discount of Rs 12 which will provide instant listing gains. Looking at the company’s fundamentals and valuation we would recommend a long-term perspective to subscribe for this IPO.
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19.1. NeoTrade  May 1, 2016 3:12:54 PM IST
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19.2. Chem cho  May 2, 2016 5:33:56 AM IST

Parag Milk Foods Ltd IPO

Wait for todays issue ujjain issue to close . and you will see grey market premium after thyroid allotment
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18. bangalore king  Apr 30, 2016 6:52:50 PM IST Reply

Parag Milk Foods Ltd IPO

Thyrocare Techno :- The premiums were at Rs420/466 but came down to 180/185 but after good response to the issue it has touched 220/225. Minimum application rates also touched Rs1300/1350 but came down to 800/850 after the issue getting 73 times subscription. Premiums could be highly volatile on listing.

Ujjivan Fin :- As Thyrocare subscription has been closed, now the market players have
turned to Ujjivan. It may repeat history of Equitas Holdings as the premiums crumbled to 30/32 but have bounced back to 45/48. The application rates have come down from 1200/1300 to 850/ 900

Parag Milk Foods :- It is lacking fancy as investors are interested in Thyrocare and Ujjivan. The preimums have come down to 25/27 from 40/42. The application rates have also come down to 550/600 from 1050/1100. It may get response once Ujjivan''s issue is closed.
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