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19. Jainvipul  Jan 16, 2017 8:46:49 AM IST Reply

BSE Limited IPO

BSE ipo price band 805-806 declared
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18. Jainvipul  Jan 11, 2017 3:22:56 PM IST Reply

BSE Limited IPO

BSE IPO LISTING @1200-1250
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17. Jainvipul  Jan 4, 2017 2:27:32 PM IST Reply

Laurus Labs Ltd IPO

Upcoming IPO:-

BSE INDIA Ltd. (OFS)

Issue Opens 23th January 2017

Issue Closes 25th January 2017

Issue Size 1311 Crore. 

No. of Shares for OFS 15,427,197 Equity shares 

Price Band Tentative: Rs.800- Rs.850

Lead Manager''s

Axis Capital, Edelweiss, Jeffries, Motilal Oswal, Nomura, SBI Cap, SMC Capt,Spark Capital. 

Registrar: Karvy Computershare Pvt Ltd. 

Face value: Rs. 2/- per Equity Share
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16. Jainvipul  Dec 18, 2016 1:00:51 PM IST Reply

Laurus Labs Ltd IPO

@Eagleye mam,
May see heavy selling pressure or not?
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15. Jainvipul  Dec 18, 2016 10:23:41 AM IST Reply

Laurus Labs Ltd IPO

Listing @ 460
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15.1. bharatgupta  Dec 18, 2016 5:51:21 PM IST

Laurus Labs Ltd IPO

You are right
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14. Jainvipul  Dec 16, 2016 11:27:25 AM IST Reply

Laurus Labs Ltd IPO

Qib subscribed by 10.5 times so laurus lab listing below 500
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13. Jainvipul  Dec 15, 2016 5:33:09 PM IST Reply

Laurus Labs Ltd IPO


SACHIN JAIN APPLI NOT BANKED AND BLOCKED BY BANK HENCE RTN. please tell Meaning?
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12. Jainvipul  Dec 15, 2016 10:45:23 AM IST Reply

Laurus Labs Ltd IPO

Allotment ratio?
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12.1. guptapankaj  Dec 15, 2016 10:50:47 AM IST
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12.2. N GANDHI  Dec 15, 2016 10:51:06 AM IST
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11. Jainvipul  Dec 13, 2016 4:04:32 PM IST Reply

Laurus Labs Ltd IPO

What can be allotment ratio ? Any guidance ?
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10. Jainvipul  Dec 13, 2016 1:26:59 PM IST Reply

Laurus Labs Ltd IPO

Grey Market Premium of Laururs Labs IPO Price Down to Rs. 10/12.
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9. Jainvipul  Dec 11, 2016 2:05:08 PM IST Reply

Laurus Labs Ltd IPO

laurus lab
It derives a significant portion of its revenue from Generics – API business, which primarily comprises the sale of products in the therapeutic areas of ARVs, Hepatitis C and Oncology. For the financial years 2016, 2015 and 2014, its revenue from Generics – API business was Rs.16,516.84 million, Rs12,533.54 million and Rs10,907.17 million, or 92.2%, 92.1% and 93.3% of its total revenues, respectively. For the financial year 2016, Its revenue from the sale of APIs in the therapeutic areas of ARVs, Hepatitis C and Oncology accounted for Rs.12,619.09 million, Rs 1,970.98 million and Rs 1,413.38 million, or 70.4%, 11.0% and 7.9% of Its total revenues, respectively. Further, within its product portfolio in the ARV therapeutic area, it depends significantly on the sale of Efavirenz, Tenofovir Disoproxil Fumarate and Emtricitabine, the preferred first line treatment option for adults, pregnant and breast feeding women and adolescents
For the financial year 2016, it derived Rs 12,619.09 million, or 70.4% of its total revenues, from the sale of products in the ARV therapeutic area, which primarily comprised the sale of Efavirenz, Tenofovir Disoproxil Fumarate and Emtricitabine. These three products are currently used as one of the preferred first line treatment in the ARV therapeutic area, recommended by the WHO for its target markets.
It is dependent on a limited number of customers for a significant portion of its revenues. For the financial years 2016, 2015 and 2014, its top five customers contributed Rs 12,142.83 million, Rs 10,466.3 million and Rs 8,940.65 million, or 67.8%, 76.9% and 76.5% of total revenues, respectively
Over the last few years, it has expanded operations and services and experienced considerable growth. From the financial year 2012 to the financial year 2016, its total revenues, on a standalone basis, has increased from Rs 4,523.07 million to Rs 17,884.15 million. Although it has historically derived a significant percent of its revenue from Generics – API business, it is investing significant time and resources in growing its Generics – FDF, Synthesis and Ingredients businesses. It constantly seeks to develop its R&D capabilities to distinguish itself from the competitors to enable it to introduce new products.
It is in the process of setting up two additional manufacturing facilities, one for potent APIs (expected to commence operations by December 31, 2016) and the other for APIs, intermediates and ingredients (expected to commence construction during the financial year 2017). Post planned expansion, its aggregate reactor volume will increase to 2,095.6 KL during the financial year 2017.
To accomplish this, it commits substantial effort, funds and other resources towards R&D activities and it has set-up a dedicated R&D center in Hyderabad and Greater Boston and is currently in the process of setting up an R&D center in Visakhapatnam.
The Company spent Rs 906.52 million, Rs 586.49 million and Rs 424.40 million towards R&D activities during the financial years 2016, 2015 and 2014, or 5.1%, 4.3% and 3.6% of its total revenues in such years, respectively
As of June 30, 2016, the Company owned 32 patents and had 150 pending patent applications, in several countries.
Its net asset value per Equity Share, post the issue of bonus shares, was Rs 137.53 as on March 31, 2016, while it was Rs 135.06 as at March 31, 2016, as per its Restated Consolidated Financial Statements.
India is one among the top five pharmaceutical emerging markets globally and is a front runner in a wide range of specialties involving manufacturing and development of complex drugs. India has about 40% of all Abbreviated New Drug Application (ANDA) approvals from US FDA. The Indian API manufacturing industry is the third largest in the world, producing over 400 APIs. Globally Indian companies hold more than 90% of APIs approvals for ARVs, Anti-Tuberculosis and Anti-malarials.
The company is a leading research and development (“R&D”) driven pharmaceutical company in India, with a leadership position in generic active pharmaceutical ingredients (“APIs”) for revenue, were its customers.
It has set-up its first dedicated R&D center in Hyderabad, Telangana in 2006 & initially focused on research in the Oncology and ARV API areas and after making progress in R&D it commissioned first API manufacturing facility in 2007. The kilo lab at R&D center at Hyderabad has received approvals from the United States Food and Drug Administration (“US FDA”), Pharmaceuticals and Medical Devices Agency (“PMDA”) of Japan and the Korea Food and Drug Administration (“KFDA”). It has also set up a R&D center in Greater Boston, United States in 2015. As of June 30, 2016, it employed 587 scientists at its R&D center in Hyderabad and 12 scientists at its R&D centre in Greater Boston, which constituted 25.0% of total employee strength. The Company spent Rs 906.52 million, Rs 586.49 million and Rs 424.40 million towards the R&D activities during the financial years 2016, 2015 and 2014, or 5.1%, 4.3% and 3.6% of its total revenues in such periods, respectively.
It is currently in the process of expanding R&D center in Hyderabad and setting up another R&D center in Visakhapatnam, Andhra Pradesh. It believes that systematic approach to the commercialization of 30 out of the 37 filed DMFs, as of June 30, 2016. As of June 30, 2016, the Company owned 32 patents and had 150 pending patent applications, in
several countries.
So, one issue is undoubted clear that this company has solid potential to grow.
Now the question is whether the price band is reasonable or is on higher side.Many of the experts believe the price band is on higher side. Let us discuss it out:
Consolidated EPS Year ended on March 31, 2016 Rs. 20.86( as per RHP) .( EPS calculation is a tricky affair due to issuance of bonus shares) The company during last 4 financial years has achieved CAGR of 60%. so lets assume that it may earn atleast Rs. 32 for the current year 2016-17. So upper price band is at PE multiple of 13.37 on estimated EPS for 2016-17. Will you consider it on higher side ?
Book value As on March 31, 2016 Unconsolidated Rs. 137.53 & Consolidated Rs. 135.06( after adjustment of Bonus shares) So upper Price Band/BV = 3.17/1 .
Compare it with Divis CMP Rs. 1133/BV Rs. 161= 7.03/1 & Aurobindo Pharma CMP Rs. 730/BV Rs. 121= 6.03/1. So from book value angle also , you will agree that price band is reasonable.Since EPS & PE are tricky affair and many analysts consider PE multiple for this IPO on very higher side, I will prefer to give more weight to CMP/BV aspect while valuing this IPO.
The Only risk, I believe, at present is current volatility in the Stock-market and if you wish to take that risk, I believe that one should not forgo this IPO & may Apply
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8. Jainvipul  Dec 10, 2016 6:10:44 PM IST Reply

Laurus Labs Ltd IPO

laurus lab is allotment by lottery system or average share application ? Please tell
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8.1. nicks Jain  Dec 10, 2016 7:03:51 PM IST

Laurus Labs Ltd IPO

APPROX 10 WILL GET ALLOTMENT OUT OF 15 APPLICATIONS
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7. Jainvipul  Dec 9, 2016 6:45:16 PM IST Reply

Laurus Labs Ltd IPO

Listing @ 465+
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6. Jainvipul  Dec 8, 2016 3:32:06 PM IST Reply
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5. Jainvipul  Dec 7, 2016 9:23:11 AM IST Reply

Laurus Labs Ltd IPO

How much PE. 35 OR 22 PLEASE TELL which one?
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4. Jainvipul  Dec 6, 2016 7:02:38 PM IST Reply

Sheela Foam Ltd IPO

Allotment kal hain.
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3. Jainvipul  Dec 6, 2016 4:24:45 PM IST Reply

Sheela Foam Ltd IPO

Allotment time please
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3.1. manjitsingh  Dec 7, 2016 7:49:08 AM IST

Sheela Foam Ltd IPO

100% allotment in retail....why u worry
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2. Jainvipul  Dec 2, 2016 11:29:04 AM IST Reply

Laurus Labs Ltd IPO

Kostak rate?
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1. Jainvipul  Nov 30, 2016 6:32:24 PM IST Reply

Sheela Foam Ltd IPO

Any update on the latest subscription details please
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20.1. A.BHIWANI  Nov 30, 2016 7:51:33 PM IST
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