Date is 6-8 March Final. EPS 12.50 FY 16-17 EPS 13.25 FY 17-18
Valuing at 32 Multiple Price Value is 415 Septa sir calculate Fair Value. Valuing a media company we use RONW method which is good with Comparison to ENIL.
ENIL is trading at 5 multiple to its book value, whereas Music Broadcast at almost 10 multiple. NEVERTHELESS RONW for Music Broadcast is 75% which is far better than of ENIL.
7. Eagleye| Link| Bookmark|
February 23, 2017 10:29:44 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Music IPO
03rd March – Anchor Investors 06th March – Offer Opens 08th March – Offer Closes 13th March – Markets Closed for Holi 14th March – Finalisation of Basis of Allotment 15th March – Unblocking of ASBA 16th March – Credit to Demat Accounts 17th March – Listing on NSE & BSE
Music Broadcast IPO
Tentative Issue Information:
Issue Opens on: 06 March 2017 Issue Closes on: 08 March 2017 Issue Type: Book Built Issue IPO Issue Size: 14,670,530 Equity Shares Face Value: Rs 10 per Equity Share Issue Price: Rs.324 – Rs.333 per Equity Share Market Lot: 45 shares Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 45,042,767 Equity Shares Fresh Issue of 12,012,012 Equity Shares @333/- aggregating up to Rs.4,000 million Offer for Sale of 2,658,518 Equity Shares @333/- aggregating up to Rs.885.3 million Total Issue of 14,670,530 Equity Shares @333/- aggregating up to Rs.4885.3 million Equity Shares outstanding after the Issue = 57,054,779 Equity Shares
Subscription required for 1X RII = 1.14L Forms NII = 73.28 Crs
Interest cost @7%p.a. for 7days = 44.7paise for 1X
Music Broadcast IPO:
Promoter of the Company: Jagran Prakashan Limited
EPS for FY13-14 >>> Rs.5.80 (as per DRHP page no.86) EPS for FY14-15 >>> Rs.11.23 (as per DRHP page no.86) EPS for FY15-16 >>> Rs.9.95 (as per DRHP page no.86) EPS for H116-17 >>> Rs.6.60 (not annualised)
If, Issue Price = 333 & GMP = 77 … Then Costing = 410 … & PE = 33.83
RoNW for FY13-14 >>> 178.52% (as per DRHP page no.87) RoNW for FY14-15 >>> 77.67% (as per DRHP page no.87) RoNW for FY15-16 >>> 38.50% (as per DRHP page no.87) RoNW for H116-17 >>> 21.23% (not annualised)
NAV as on September 30, 2016 was Rs.31.12
Music Broadcast IPO:
Listed Industry Peer >>> Entertainment Network (India) Limited
Entertainment Network (India) Ltd is the operator of FM radio channel Radio Mirchi Promoter of ENIL is Bennett, Coleman & Co. Limited (The Times of India Group)
EPS for Q1 – 15-16 >>> Rs.5.98 EPS for Q2 – 15-16 >>> Rs.5.69 EPS for Q3 – 15-16 >>> Rs.6.05 EPS for Q4 – 15-16 >>> Rs.5.05 EPS for FY – 15-16 >>> Rs.22.77
EPS for Q1 – 16-17 >>> Rs.3.49 EPS for Q2 – 16-17 >>> Rs.1.69 EPS for Q3 – 16-17 >>> Rs.3.44 EPS for Q4 – 16-17 >>> Rs.?.??
EPS for 9M – 15-16 >>> Rs.8.63
Current Market Price Rs.772/- (23rd Feb 2017) 52 week high price: 905/- (03rd Oct 2016) 52 week low price : 619/- (24th Feb 2016)
Query - how do we calculate all this ? Is this data from RHP ? Which page. Trying to learn
6. Eagleye| Link| Bookmark|
February 23, 2017 10:14:07 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Peer Group Comparison:
Entertainment Network (India) Ltd is the operator of FM radio channel Radio Mirchi Promoter of ENIL is Bennett, Coleman & Co. Limited (The Times of India Group)
EPS for Q1 – 15-16 >>> Rs.5.98 EPS for Q2 – 15-16 >>> Rs.5.69 EPS for Q3 – 15-16 >>> Rs.6.05 EPS for Q4 – 15-16 >>> Rs.5.05 EPS for FY – 15-16 >>> Rs.22.77
EPS for Q1 – 16-17 >>> Rs.3.49 EPS for Q2 – 16-17 >>> Rs.1.69 EPS for Q3 – 16-17 >>> Rs.3.44 EPS for Q4 – 16-17 >>> Rs.?.??
EPS for 9M – 15-16 >>> Rs.8.63
Current Market Price Rs.772/- (23rd Feb 2017) 52 week high price: 905/- (03rd Oct 2016) 52 week low price : 619/- (24th Feb 2016)
5. ShareView| Link| Bookmark|
February 23, 2017 9:34:43 PM
IPO Guru (2300+ Posts, 3600+ Likes)
Here ICICI securities alone the lead manager is a matter of concern
🙏👍
4. Eagleye| Link| Bookmark|
February 23, 2017 8:40:25 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Music Broadcast IPO:
Promoter of the Company: Jagran Prakashan Limited
EPS for FY13-14 >>> Rs.5.80 (as per DRHP page no.86) EPS for FY14-15 >>> Rs.11.23 (as per DRHP page no.86) EPS for FY15-16 >>> Rs.9.95 (as per DRHP page no.86) EPS for H116-17 >>> Rs.6.60 (not annualised)
If, Issue Price = 333 & GMP = 77 … Then Costing = 410 … & PE = 33.83
RoNW for FY13-14 >>> 178.52% (as per DRHP page no.87) RoNW for FY14-15 >>> 77.67% (as per DRHP page no.87) RoNW for FY15-16 >>> 38.50% (as per DRHP page no.87) RoNW for H116-17 >>> 21.23% (not annualised)
NAV as on September 30, 2016 was Rs.31.12
Listed Industry Peer >>> Entertainment Network (India) Limited
BEL Clearing price for retail is 1557.65. One more time retail investors are tapped. Today''''''''s closing is 1505. After discount and brokerage charge retail investors will zero. Only waste of time. I am still not understanding why retail investors bidding very aggressively. For non retail category clearing price is 1499.
2. Eagleye| Link| Bookmark|
February 23, 2017 7:36:16 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Music BroadTentative)
03rd March – Anchor Investors 06th March – Offer Opens 08th March – Offer Closes 13th March – Markets Closed for Holi 14th March – Finalisation of Basis of Allotment 15th March – Unblocking of ASBA 16th March – Credit to Demat Accounts 17th March – Listing on NSE & BSE
1. Eagleye| Link| Bookmark|
February 23, 2017 7:35:49 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Music Broadcast IPO
Tentative Issue Information:
Issue Opens on: 06 March 2017 Issue Closes on: 08 March 2017 Issue Type: Book Built Issue IPO Issue Size: 14,670,530 Equity Shares Face Value: Rs 10 per Equity Share Issue Price: Rs.324 – Rs.333 per Equity Share Market Lot: 45 shares Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 45,042,767 Equity Shares Fresh Issue of 12,012,012 Equity Shares @333/- aggregating up to Rs.4,000 million Offer for Sale of 2,658,518 Equity Shares @333/- aggregating up to Rs.885.3 million Total Issue of 14,670,530 Equity Shares @333/- aggregating up to Rs.4885.3 million Equity Shares outstanding after the Issue = 57,054,779 Equity Shares