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31. 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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30. 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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29. 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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29.1. 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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29.2. 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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28. 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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27. 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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26. 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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26.1. 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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25. 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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25.1. Eagleye  May 4, 2016 7:40:29 AM IST

Parag Milk Foods Ltd IPO

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

Parag Milk Foods Ltd IPO

Eagleye, Quess issue price at 317??
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25.4. 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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25.5. 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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25.6. 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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25.7. 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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24. 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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24.1. Chem cho  May 3, 2016 1:13:04 PM IST

Parag Milk Foods Ltd IPO

yes for listing gains
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23. 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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23.1. 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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23.2. 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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23.3. 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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22. 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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22.1. NeoTrade  May 1, 2016 3:12:54 PM IST
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22.2. 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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21. 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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20. bangalore king  Apr 30, 2016 5:03:12 PM IST Reply

Parag Milk Foods Ltd IPO

Parag Milk Foods is one of the leading manufacturers and marketers of dairy-based branded foods in India, with an integrated business model, manufacturing a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands. The company’s brands are one of its key strengths and that its customers, distributors, stockists and members of the financial community associate its brands with trusted and superior quality products.

On the concern side, the company’s operations are dependent on the supply of large amounts of cow’s raw milk, and its inability to procure adequate amounts of good quality raw milk, at competitive prices, could impact business and financial condition. The company is dependent on a number of key personnel, including its senior management for day to day operations.

The issue has been offered in a price band of Rs 220-427 per equity share. The aggregate size of the offer is around Rs 745.01 crore to Rs 768.72 crore based on lower and upper price band respectively. Minimum application is to be made for 65 shares and in multiples thereon, thereafter. On performance front, on a consolidated basis the company has posted turnover of Rs 900.54 crore in FY12, Rs 927.15 crore in FY13, Rs 1089.50 crore in FY14 and Rs 1440.52 crore in FY15, while it has registered a net profit of Rs 18.90 crore in FY12, Rs 20.77 crore in FY13, Rs 15.97 crore in FY14 and Rs 25.97 crore in FY15. For first nine months ended December 31, 2015, it has earned net profit of Rs 31.92 crore on a turnover of Rs 1231.19 crore. If one annualized these earnings and attribute to the fully diluted equity post IPO then asking price is at a P/E of 44 plus at the higher price band. The company constantly focuses on research and development to distinguish it from its competitors to enable itself to introduce new products based on consumer preferences and demand. It proposes to set up a research and development centre at its Manchar facility to develop new products and processes and a technology centre at its Subsidiary for training and development activities and focus on animal husbandry. The company intends to increase the share of its value-added product portfolio by focusing on health and nutrition to cater to evolving consumer trends. Going further, the company can increase its margins by focussing on increasing sales of its value-added products.
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19. bangalore king  Apr 27, 2016 11:31:06 AM IST Reply

Parag Milk Foods Ltd IPO

Parag''s consolidated revenues and operating profit have little over doubled to Rs 1438.7 crore and Rs 108 crore respectively in the five years ended FY15. The operating margin, which has remained fairly stagnant at 7.5%, is likely to improve in the quarters ahead - thanks to new players like ITC and M&M. This implies increase in its spend on advertising that currently stands at 2.5% of the revenues.

The issue values Parag at 44 times of its FY16 annualised earning per share of Rs 5.12 per share. The company''s valuation of Rs 2000 crore also stands at 1.2 times of its annualised revenues for FY16. These valuations are fair when compared to its larger listed peer Hatsun Agro Products which is trading at a PE of 57 and at a market cap of 1.5 times its trailing four quarters revenues. Retail investors can consider investing in the issue to partake in the growth of the dairy industry - thanks to the addition of new corporate players and increase in per capita consumption of dairy products.
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19.1. Anurag kumar singhal  Apr 27, 2016 11:39:08 AM IST

Parag Milk Foods Ltd IPO

Hello Team and friends.. what are chances to get an allotment for thyrocare if apply for 3 acct.. 2 presell and 1 for risk in thyrocare
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18. bangalore king  Apr 26, 2016 1:38:10 PM IST Reply

Ujjivan Financial Services Ltd IPO

Ujjivan Financial Services''s annualized EPS for the nine-month FY2016 on post-issue equity works out to Rs 13.89. At the price band of Rs 207 to Rs 210, P/E works out to 14.9 to 15.1 times.

The book value of Ujjivan Financial Services is Rs 99.7. Post-issue, the book value works out to Rs 128.26 at the issue price of 207 and Rs 128.51 at the issue price of Rs 210. P/BV at both the bands works out to 1.6 times.

Among the peers, the recently listed Equitas Holdings is trading at P/BV of 2.3 (Price: Rs 138, Consolidated BV: Rs 60). The average ROA of Equitas Holdings as on March 2015 stood higher at 2.96%, while the average ROA for Ujjivan as on March 2015 stood at 2.5%. The average loan book of Equitas as on December 2015 stood at Rs 5505 crore, whereas the loan book of Ujjivan stood at Rs 4589 crore as on December 2015. The net NPA of Equitas as on December 2015 stood at 0.97%, whereas that of Ujjivan stood at 0.04%. Equitas had higher branch network of 539 branches as on December 2015, while Ujjivan operates with 470 branches. Equitas is well diversified offering a range of financial products such as microfinance, vehicle finance, MSE finance and housing finance, whereas Ujjivan has 87.5% of loan book in the microfinance group lending segment.
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17. bangalore king  Apr 23, 2016 10:04:50 PM IST Reply

Parag Milk Foods Ltd IPO

Thyrocare -

Subscription :- it may get 2-2.5 times subscription in retail segment.
Discovery price :- It could be at Rs446.
Listing :- Listing may take place on May 9 around 600+ and may go up to 640/650 on good market situation.

Ujjivan -

Subscription :- It may get 2-3 times subscription in retail segment, while much higher subscription in QIB and HNI segments.
Discovery price :- Discovery price could be around Rs210.
Allotment :- May be on May 9.
Listing :- May be on May 11 around Rs250/26 and Rs270/275 with support of good market conditions


GREY MARKET MOVEMENT

Equitas listing encourages deals in other two issues
Thyrocare issue premiums came down from Rs 225 to Rs190
Ujjivan premiums crumble from 60 to 35/37
Application rates in both issues came down in Sakarbazaar

Thyrocare :- Last week the premiums were at 225 which has come down to 190. The minimum application rates have also come down from Rs1200/1500 to Rs970 to Rs1000.

Ujjivan Fin :-Mircro Finance Company''s premiums were at Rs44/45 which went up to 58/60 but have come down to 35/37. Minimum application rates were at 1150/1200 but havecome
down to 1100.

It is believed that both the issues will be highly volatile at time of opening and listing.
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17.1. ranjan patel  Apr 24, 2016 12:08:33 AM IST

Parag Milk Foods Ltd IPO

should we fill the ipo of ujivan and thyrocare
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16. bangalore king  Apr 23, 2016 11:02:18 AM IST Reply

Thyrocare Technologies Ltd IPO

Thyrocare Technologie is one of the leading pan-India diagnostic chains and conduct an array of medical diagnostic tests and profiles of tests that helps in early detection and management of disorders and diseases. They are India''s first fully automated diagnostic laboratory having its strong presence in more than 2000 cities / towns in India and internationally. It is currently focusing its efforts on new test offerings based on the clinical application of mass spectrometry.

On the concern side, the company’s pathology testing services are performed at the CPL located in Navi Mumbai and at the RPLs located in New Delhi, Coimbatore, Hyderabad and Kolkata. Any disruption in operations of any of its laboratories could reduce or restrict sales and materially and adversely affect its business, financial condition, cash flows and results of operations. Moreover, the company depends substantially on its hub-and-spoke business model complemented by the RPLs. Any delay or interruption in the transportation of samples to the CPL or the RPLs could adversely impact the effectiveness of the company’s business model.

The issue has been offered in a price band of Rs 420-446 per equity share. The aggregate size of the offer is around Rs 451.28 crore to Rs 479.21 crore based on lower and upper price band respectively. Minimum application is to be made for 33 shares and in multiples thereon, thereafter. On performance front, the company has posted a top line of Rs 139.99 crore in FY13, Rs 156.56 crore in FY14 and Rs 187.05 crore in FY15, while the company has reported a net profit of Rs 56.82 crore in FY13, Rs 46.16 crore in FY14 and Rs 48.45 crore in FY15. For first nine months ended on December 31, 2015 of current fiscal, the company has registered a net profit of Rs 30.49 crore on a total income of Rs 117.03 crore. If one attributes latest earnings on annualized basis on the current paid up equity capital of Rs 53.72 crore, then the asking price is at a P/E of around 45. The company intends to strengthen and grow its coverage of regions across India through its network of RPLs and authorized service providers. By expanding this network, the company plans to simultaneously increase its customer base, generate higher volumes of samples for processing, improve its turnaround time and optimize its logistics costs. In order to sustain its future growth and client base, it is also focused on increasing the number and quality of the authorized service providers in the upcoming Fiscals. It intends to develop long-term relationships with authorized service providers with the goal of maintaining consistency of quality of services across its network and reducing churn. Going forward, in a bid to bolster brand visibility and increase the accessibility of its services, the company intends to use the expanded network of RPLs and authorized service providers. The company shall continue to focus on growth of its wellness and preventive offerings and expansion of its test offering and offers a good value despite compared to peers.
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15. bangalore king  Apr 20, 2016 10:50:07 PM IST Reply

Ujjivan Financial Services Ltd IPO

Ujjivan Financial Services Ltd, the micro-lender which has won a provisional license to be a small finance bank (SFB), is expected to launch its initial public offering (IPO) on 28 April to raise around up to Rs.850-900 crore, three people familiar with the development said.

The price band for the issue is likely to be set between Rs. 207-Rs.210 per share, they said. The details of the IPO, for which it won regulatory approval on 25 February, are likely to be announced at a press meet on Thursday.

Of the total issue size, the company will raise about Rs.350 crore in fresh capital, while existing shareholders will sell 24.96 million shares, with an estimated worth of Rs.514-524 crore.

Even before the IPO opens, Ujjivan’s shares were quoting at a premium of Rs.35-40 per share in the grey market, dealers said.

An email sent to the company’s public relations agency on Wednesday remained unanswered.

On 20 February, Mint reported that the Bengaluru-based SFB-licensee had raised Rs.312.4 crore by issuing shares to a clutch of investors in a private placement round ahead of its planned IPO. The sale transaction valued the firm about Rs.2,150 crore.

HDFC Standard Life Insurance Co. Ltd, Shriram Life Insurance Co. Ltd, Bajaj Allianz General Insurance Co. Ltd, Kotak Mahindra Old Mutual Life Insurance Co. Ltd and mutual fund Sundaram Asset Management Co. Ltd were among the investors that bought Ujjivan’s shares in the private placement to institutional investors.

Ujjivan will have to ensure that overseas shareholding in the company remains at or below 49% to meet one of the conditions set by the Reserve Bank of India (RBI) to become a small finance bank. This means that foreign investors cannot participate in Ujjivan’s public issue. Foreigners owned 90.57% in the company at the time of filing its draft proposal, Ujjivan said in its draft red herring prospectus.

Earlier this month, shares of Chennai-based microfinance lender Equitas was subscribed more than 17 times. The company raised a little over Rs.1,500 crore from the public issue.

Equitas will debut on the bourses on Tuesday. Its shares, which were issued at Rs.109-110 per share, were quoting a premium of Rs.20-22 per share in the grey market, two dealers said, requesting anonymity.
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14. bangalore king  Apr 14, 2016 11:17:01 PM IST Reply

Thyrocare Technologies Ltd IPO

GREY MARKET MOVEMENT

Thyrocare premiums and application rates spurt from beginning
Equitas Holding''s form rate touched Rs 2300 and premium 21/22
Ujjivan IPO will also witness fancy in grey market

Equitas Holdings :- On the last day the premium levels touched Rs18/19 and form rates
touched Rs2300. However, after closing the premiums have increased nominally to 20/21.

Thyrocare Techno :- Despite no formal announcement, the grey market is highly volatile.
Issue will open on April 27 and close on April 29 with offer price of Rs575-595 and bid lot size of 25. The premiums touched Rs175 and application form rates touched Rs 1050 which has increased to Rs180-185 and Rs1100-1200 respectively. Market will become active on Monday following four holidays.

Ujjivan Fin :- the issue may witness fancy and premium and form rates may remain highly
volatile.
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14.1. GRAVITA PAROL  Apr 14, 2016 11:26:12 PM IST
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14.2. GRAVITA PAROL  Apr 14, 2016 11:26:44 PM IST
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14.3. NeoTrade  Apr 15, 2016 11:48:23 AM IST

Thyrocare Technologies Ltd IPO

Indicated offer price for Thyro is absolutely wrong IMO!
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13. bangalore king  Apr 11, 2016 8:15:14 PM IST Reply

Equitas Holdings Limited IPO

L&T Infotech -

When contacted, Deepak Morada, VP, L&T told Business Standard: "The reason we have withdrawn the IPO is becaof market conditions. And we want to relook at our pricing. The IT industry undergoes changes on a quarterly basis and it is only fair to investors, in any issue, that they take a call on the financial performance of the most recent quarter."

When asked by when L&T will file a new DRHP with Sebi, Morada said: "At this point I cannot comment. But there is a possibility of we approaching the markets again." On the offer structure and the possibility of it changing in future, he said: "L&T''s stake in the company will come down. How much will it be is yet to be decided. It''s more about price discovery."

The company refused to comment on the changes in offer structure, some of the industry sources said that in the last one quarter the IT services sector has been looking good, which may have made the promoters to relook at the pricing of the IPO. "I think it''s more about price discovery," said a source from the banking industry.
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13.1. Khemka  Apr 11, 2016 8:40:19 PM IST

Equitas Holdings Limited IPO

Seems they want ipo prices more steeply after imfibeam successfully high pricing issues, greedily planned,retailers are so fools that they can grabbed at any prices like 900/1000/1100/1200 even 1300 not ruled out , so think cooling getting time after all...
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13.2. VALUE INVESTOR  Apr 11, 2016 9:00:01 PM IST

Equitas Holdings Limited IPO

L&T infotech don''t want to come out with IPO, everytime they give some stupid
reason for withdrawing their IPO after filing. Market will anyhow do the price discovery
if they fix the same. Nobody is waiting on one leg to grab their shares whatever the price may be.
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12. bangalore king  Apr 9, 2016 9:53:11 PM IST Reply

Equitas Holdings Limited IPO

L&T infotech if at all will have shareholder quota for L&T , then cut off date for that was -

September 28, 2015 !!

That was date of DRHP filled with SEBI.
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12.1. Eagleye  Apr 10, 2016 2:10:29 AM IST

Equitas Holdings Limited IPO

L&T shareholders will not get any preferential treatment for L&T Infotech IPO
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