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Mastmoula's Comments

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10. Mastmoula  Mar 25, 2018 2:50:51 PM IST Reply

Orissa Bengal Carrier Limited IPO

जब तारचंद लौजिस्टक पीट गया तो ओडिशा बंगाल का तो भगवान हि मालिक है.
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9. Mastmoula  Mar 17, 2018 1:37:57 PM IST Reply

Benara Bearings & Pistons Ltd IPO

Ideally a value investor should not apply in IPO unless there is a company in new sector with superior management bandwidth. As an expert, I suggest retail investors to apply only after selling your application to your broker or buy after listing at far lower price in comparison to issue price. No naked application because Market sentiment is at weakest.

However a good SME company, it should ideally price itself at half of PE Ratio and half of PBV of laggardest profit making peer on the main board. When seeing these ratios, a value investor should look at PBV before issue and PE Ratio after full dilution. As a thumb rule PBV for SME should not be above 2 and ideally it should be below 1.5. If somebody try to convince you about valuation by EBIDTA method or any other sophisticated crooked method, ask him why the company is not going for PE funding rather than IPO. Because PE guys are not as gullible as retail.

A company can easily manipulate PE ratio by increasing profit disproportionately just before IPO but Price to book value one cannot manipulate by increasing one year profit. One cannot increase profit artificially for 5 years because one has to pay 30% tax on artificial profit. Hence do not take the PAT of one year or half year just before the IPO seriously.
When there was irrational exuberance for SMEs and people were short of idea to generate alpha return on main board, they began to flock around SMEs. Now when Small cap and midcap companies on the mainboard have corrected meaningfully and there is further possibility of correction (NIFTY till 9600), these alpha return seekers have evaporated and LMs also have left retail investors high and dry. The trailer we have already seen in Sarveshwar and Inflame, Upcoming SMEs are going to be full movie. Because these LMs are pricing the issue so high that they can spin and rinse (निचोड़) the retail investors.

बाकि आपकी मर्जी क्युंकि पैसा आपका हैं.
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9.1. traderji  Mar 22, 2018 10:47:51 AM IST

Benara Bearings & Pistons Ltd IPO

One of the best post so far I read at chittorgarh.
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8. Mastmoula  Mar 20, 2018 9:16:58 AM IST Reply

Sarveshwar Foods Ltd IPO

Equity is long term game. Those who cannot control their emotions in down cycle period, eventually perished in stock market.

You might have heard Steel Tycoon Lakshmi Narayan Mittal. How he built his empire. He never built a steel company neither bought any steel companies in up cycle. He bought all of his targeted business during down cycle only.
He had the wherewithal to buy Corus. But being a wise businessman he did not bought.
Tata Steel has bought the company outbidding Russian major Severstal, just because it taken the same as prestige issue (मूंछ की लड़ाई). Tata Steel has to suffer for long period, rather it has still not overcome fully out of that wrong decision.
Sarveshwar is sliding due to zero support from the LM and company but in long term, the only driver of price is performance and potential of the company. The company is going to post PAT of ~Rs 17 cr for FY 2018, hence at current price PE ratio is 9.71.

No Basanti Rice players is available at that PE, additionally organic component which is at 10% now will become 35% of revenue in 3 years and company will leapfrog in different league altogether. Hence do not worry about Sarveshwar, it has the potential not only to double ur money but become multibagger in 3 to 5 years.

People like L N Mittal are waiting to lap the entire floating shares of the company, once it reaches around 60-65. Let see market is supreme.
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8.1. Umang and his ultrasonic uproar  Mar 20, 2018 1:42:06 PM IST

Sarveshwar Foods Ltd IPO

@mastmoula,
It seems from your posts that you are experienced investor.
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7. Mastmoula  Mar 17, 2018 1:13:07 PM IST Reply

MMP Industries Limited IPO

As an student of value investing, I suggest retail investors to apply only after selling to your broker or buy after listing at far lower price in comparison to issue price.
However a good SME company, it should ideally price itself at half of PE Ratio and half of PBV of laggardest profit making peer on the main board.

Market sentiment is at weakest. When there was irrational exuberance for SMEs and people were short of idea to generate alpha return on main board, they began to flocked around SMEs. Now when Small cap and midcap companies on the mainboard have corrected meaningfully and there is further possibility of correction (NIFTY till 9600), these alpha return seekers have evaporated and LMs also have left retail investors high and dry. The trailer we have already seen in Sarveshwar, MMP is going to be full movie. Because here also issue size is bigger around Rs. 70 crore and pricing is high as well to spin and rinse (निचोड़) the retail investors.
बाकि आपकी मर्जी क्युंकि पैसा आपका हैं.
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7.1. Atul Kumar  Mar 17, 2018 1:56:14 PM IST

MMP Industries Limited IPO

https://infogram.com/wilful-defaults-borrowers-names-1g9vp11kv1zgp4y This is a list if wilfull defaulters running into thousands of names.In this, u will find there are hundreds of companies with some of them v big ones which came with ipos and also took bank loans and then vanished with total money.Therefore be v careful with your money and avoid small companies with doubtful track record .
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6. Mastmoula  Mar 17, 2018 1:46:47 PM IST Reply

Bandhan Bank Limited IPO

good bank, will reward the investors. But ideal strategy should be, apply one lot and try to buy after listing seeing the price movement.
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5. Mastmoula  Mar 17, 2018 1:20:07 PM IST Reply

Kapston Facilities Management Ltd IPO

As an expert, I suggest retail investors to apply only after selling to your broker or buy after listing at far lower price in comparison to issue price.
However a good SME company, it should ideally price itself at half of PE Ratio and half of PBV of laggardest profit making peer on the main board.

Market sentiment is at weakest. When there was irrational exuberance for SMEs and people were short of idea to generate alpha return on main board, they began to flocked around SMEs. Now when Small cap and midcap companies on the mainboard have corrected meaningfully and there is further possibility of correction (NIFTY till 9600), these alpha return seekers have evaporated and LMs also have left retail investors high and dry. The trailer we have already seen in Sarveshwar and Inflame, Upcoming SMEs are going to be full movie. Because these LMs are pricing the issue so high that they can spin and rinse (निचोड़) the retail investors.

बाकि आपकी मर्जी क्युंकि पैसा आपका हैं.
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4. Mastmoula  Mar 17, 2018 12:22:17 PM IST Reply

Sarveshwar Foods Ltd IPO

Hardly any SME issues evoke such kind of interest and keenness. Even a bewakoof can understand kuchh to baat hai is company mein except "Fatehabad"
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4.1. fatehabad  Mar 17, 2018 12:30:05 PM IST

Sarveshwar Foods Ltd IPO

o mastmoula sach me mastmoula bna dunga terko kuch kha mne faltu ku bol rha h
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3. Hexadecimal  Mar 12, 2018 11:12:47 PM IST Reply

Macpower CNC Machines Ltd IPO

The company is asking for equity value of Rs.144 crore on the networth of Rs. 7 crore. Is public fool? There may be growth story in 5 years but at present nothing on table for investors.

If LM is so much confident about this sector, they should have choosen better CNC play like Jyoti CNC, Rajkot; Parisudh, Ghaziabad etc. Jyoti CNC Automation was having PAT of Rs. 21 crore and PAT of Rs. 140 crore in FY 2012 and had tried to raise fund in 2013, but some how issue was not fructified after filing of DRHP with SEBI.
If there was no taker for a comparatively far better company in 2013, company is just trying to exploit the buyont sentiment in primary market.
Sale of CNC is dependent on rising manufacturing activity and easy availability of loan at commercial bank (There is capital subsidy for CNC machines byGoI). Though economic activity is picking up but banks are hesitant to finance after Nirav Modi episode and situation is not going to change soon.

Thus all in all issue is not worth subscribing. Despite that, if somebody wants to bet, it is better to cover your position in grey market before applying.

P.S. LM and company were using SME IPO as shelter for LTCG and money laundering rather than raising money for genuine expansion. However, after reimposition of LTCG in Budget and IT crackdown on few SME IPOs, SME IPO game is going to be lacklustre,
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3.1. Hexadecimal  Mar 12, 2018 11:15:38 PM IST

Macpower CNC Machines Ltd IPO

Read the Rs. 140 crore figure as networth
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2. Hexadecimal  Mar 11, 2018 5:57:05 PM IST Reply

Macpower CNC Machines Ltd IPO

Price to Book value more than 5 in SME, clearcut avoid.
Even for punters who want to play, first supply (sale in grey) then supply.
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1. Hexadecimal  Feb 22, 2018 1:22:07 PM IST Reply

Arvee Laboratories (India) Limited IPO

Is Arvee Laboratories going to become Aarvee Encon?
Listing day scenario for the scrip of Aarvi Encon was similar i.e 2-3 rs above issue price but started moving upwards after one month.
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