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Samvardhana Motherson Finance Ltd IPO (Samvardhana IPO) Detail

May 2, 2012 - May 4, 2012

Incorporated in 2004, Samvardhana Motherson Finance Limited (SMFL) is a multinational business with manufacturing and design capabilities providing full system solutions to diverse industries. SMFL provides an end-to-end range of design and manufacturing solutions to the automotive customers, including product concept and product design, engineering, manufacturing, sub-assembly and the production of integrated modules.

The business portfolio includes wiring harnesses, rearview mirrors, molded plastic parts, injection molding tools, assemblies and modules, elastomer products, cutting tools and thin film coating metals, IT services, design engineering, cabins for off-highway vehicles, HVAC/ air conditioning systems for automobiles, lighting systems, air intake manifolds, air compressors, paint coating equipment, auxiliary equipment for injection molding machines and automotive manufacturing engineering services.

The major customers of the company include the five largest automotive OEM manufacturers in the world, as well as the largest automotive OEM manufacturer in India. SMFL has 90 manufacturing facilities with a presence in 23 countries across the world, including 23 locations outside India and the company is in the process of establishing new manufacturing facilities in India, Brazil and Thailand.

Company Financials:

ParticularsFor the year/period ended (in Rs. Million)
31-Mar-1131-Mar-1031-Mar-09
Total Income405.9233.0122.8
Profit After Tax (PAT)131.164.199.0

Objects of the Issue:

The object of the issue are to:

1. Funding pre-payment and repayment of debt facilities availed by company and its subsidiaries;
2. Funding strategic investments;
3. Funding investments in rear-view vision systems business;
4. General corporate purposes.

Issue Detail:

  »»  Issue Open: May 2, 2012 - May 4, 2012
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: Equity Shares of Rs. 10
  »»  Issue Size: Rs. 1,665.00 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 113 - Rs. 118 Per Equity Share
  »»  Market Lot: 50 Shares
  »»  Minimum Order Quantity: 50 Shares
  »»  Listing At: BSE, NSE

Samvardhana Motherson Finance IPO Grading

ICRA has assigned an IPO Grade 4 to Samvardhana Motherson Finance Ltd IPO. This means as per ICRA, company has 'Above Average Fundamentals'. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Samvardhana Motherson Finance Ltd IPO Grading Report.

Check IPO Ratings from other stock analysts.

Samvardhana IPO Reviews:

  1. Samvardhana Motherson Finance Ltd IPO review by Dilip Davda
  2. Samvardhana Motherson Finance Ltd IPO review by K.M. Global Financial Services Ltd

IPO Notices

External Link

Samvardhana Motherson Finance Ltd (SMFL) IPO Withdrawn

Samvardhana Motherson Finance Ltd (SMFL) has withdrawn its Rs 1665.00 Crore IPO due to poor response from investor across the board.

SMFL public issue subscribed 0.23 times on its final day of subscription. QIB quota of the IPO subscribed most with bids received for 57% shares. The response in Non Institutional, Retail Individual and Employee Reservation quota was worst in recent years. All of these categories received bids only for 1% of the quota allocated.

As per experts, wrong timing of the IPO and stiff pricing of the shares as two major reasons for the failure of Samvardhana IPO.

Issue Subscription Detail / Current Bidding Status

Number of Times Issue is Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved50,340,32320,996,68148,992,2577,367,257127,696,518
Day 1 - May 2, 2012 17:00 IST0.08000.00000.00000.00000.0300
Day 2 - May 3, 2012 17:00 IST0.23000.00000.00000.00000.0900
Day 3 - May 4, 2012 17:00 IST0.57000.01000.01000.01000.2300

Samvardhana IPO Prospectus

Samvardhana IPO Rating

154
3.3
Rating:Rated 3.3 stars

Vote Here ...

Samvardhana IPO News Alerts

  1. Friday, May 4, 2012 11:39:11 AM
    Others - Samvardhana Motherson Finance Ltd
  2. Friday, May 4, 2012 12:00:00 AM
    Samvardhana Motherson Finance Ltd IPO - Close
  3. Wednesday, May 2, 2012 12:00:00 AM
    Samvardhana Motherson Finance Ltd IPO - Open
  4. Monday, April 23, 2012 11:48:04 AM
    Upcoming IPO - Samvardhana Motherson Finance Ltd

Company Contact Information

Samvardhana Motherson Finance Ltd
2nd Floor, F-7, Block B-1,
Mohan Cooperative,
Industrial Estate Mathura Road, Delhi
Phone: 91 11 4055 5940
Fax: 91 11 4055 5940
Email: compliance@smfl.in
Website: http://www.smfl.in

Samvardhana IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969
Email: sml.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Samvardhana IPO Lead Manager(s)

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Samvardhana IPO Review / Comments

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46. C.A  May 7, 2012 12:33:05 AM IST
Indian rating agencies miss guide retailes only foren agencies 100% correct. Look 5/5 rating MOIL ,L&T FIN,MCX, trading in huge discount.
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45. s c agarwal  May 6, 2012 10:28:55 PM IST
sebi shoud check how icra given 4/5 rating to issue and if any thing found wrong then action should be taken against icra
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45.1. IPO MR  May 7, 2012 11:49:38 AM IST
I am surprised to read such naive comments. People should know that credit rating and SEBI has nothing to do with the pricing. SEBI only checks/questions the contents of the offer document. They dont confirm its contents. Most of the time SEBI is not aware of the pricing. Similarly, credit rating agency comments on the strength of the business, product and management among other things.

Its really sad to read such naive comments from regular readers and investors in the IPO.
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44. C.A  May 6, 2012 2:16:15 PM IST
Condition of govt. And govt. Companies are very veak past psu ipo/fpos are trading upto 70% discount. NBCC,NHPC,NTPC,ONGC,PFC,MOIL,SJVNL,PTC FIN,P&S BANK,SHIPING CO,ENGINEARS INDIA,think 100 times before investing in any PSU IPO/FPO.
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43. GOEL BERIWALA  May 5, 2012 3:02:00 PM IST
HAI EVERYBODY,

PEOPLE HAVE DONE JUSTICE TO THIS ISSUE. RIGHTLY GIVE A LESSON TO OTHER
COMPANIES THAT OUR IS A HARD EARNED MONEY. BUT SHAME TO THE SEBI
OFFICIALS WHO HAD HELPED THE COMPANY IN FIXING SUCH A HIGH PRICE WHICH
DO NOT MATCH ANYWAY THE FINANCIALS OF THE COMPANY.

THANK YOU FOR AVOIDING THE ISSUE.
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43.1. gundu anna  May 5, 2012 3:13:03 PM IST
You have to understand that SEBI doesnot have any role to play in fixing the issue price. SEBI will only check company credential. Investors decide the what should be the price of the issue. If we think the the price is not right or overpriced, its simple one should not apply...as happened in case of motherson. We should not blame our failure on others.

Imagine SEBI guarantees an IPO doesnot go below issue price, then every tom dick harrys of the world will sell their house put the money in stock market!!! which none of us want!!!!!!
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43.2. STAR IPO KING  May 5, 2012 9:34:53 PM IST
i think merchent banker sets the issue price and sebi officiel passes it .
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42. u.kumar  May 5, 2012 11:25:06 AM IST
Plastene India , a manufacturer of jumbo bags and BoPP woven sacks, is launching its initial public offer of 92,55,290 equity shares of face value of Rs 10 each on May 9, 2012, with a price band of Rs 81-84 a share. The issue comprises of employees' reservation of upto 55,290 equity shares.

The company aims to raise around Rs 74.97-77.74 crore via public issue, by diluting 25.89% stake in the company. One can apply for minimum 75 equity shares and in multiples of 75 shares thereafter.

Plastene intends to expand manufacturing facilities of jumbo bags and BoPP woven sacks at its existing units at Nani Chirai in the Kutch district of Gujarat and at Rajpur in the Mehsana district of Gujarat. The company also intends to venture into manufacturing of new product called as block bottom valve bags used for packaging of cement, pharma food grains etc.

Equity shares are proposed to be listed on the BSE and National Stock Exchange. The issue will close on May 15, 2012.

Motilal Oswal Investment Advisors Pvt Ltd is the book running lead manager to the issue.
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41. C.A  May 5, 2012 12:06:33 AM IST
Look -PFC,NBCC,NHPC,NTPC,SJVNL,MOIL,NMDC,P&S BANK,SHIPING CO.,ENGINEARS INDIA,SJVNL,PTC FIN,ONGC all are navratan/maharatan 4,5 rating PSU but trading upto 50% discount about 90% 4,5 rating stocks are trading in huge discount it indicate any thing is wrong in indian rating agencies.
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40. Manoj jain  May 4, 2012 8:43:46 PM IST
Plastene India Ltd 9th May-15th May
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39. santonu  May 4, 2012 8:43:42 PM IST
The issue size is very large , that is the main reason of under subscripton. It could have been subscribed 0.60 till end .See the QIB figures ,it is not so bad considering the size of the issue. If the issue size is around 150-200 crore , the issue could have beeen 3-4 times over subscribed.
It is not a bad company and no complaint against te rating agency. I will blame the failure to issue size only which is extremely large
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39.1. Santosh.  May 4, 2012 10:39:11 PM IST
if price 30 then issue size reduced 400 cr
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38. gundu anna  May 4, 2012 8:09:47 PM IST
Dear All,

Mothersons failure today is the gain for all retail investors. had u applied and this got subscribed, u would have lost heaviely. Good that each of us made money(saved money) today.

Once again let me congradulate all. If we use our brains, we dont have to blame SEBI/operators. Most of the time V blame our failure on others.

Best regards
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37. C.A  May 4, 2012 8:07:51 PM IST
Ek company aur bhag gai ,ab 4,5 rating daynay wali indian rating agencies ki what lagnay wali hi.
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36. echaos  May 4, 2012 7:59:01 PM IST
this IPO has raised serious concerns over ICRA , how can they give grade 4 to a lossmaking company....
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35. The IPO Analyst  May 4, 2012 7:06:41 PM IST
Confirmed news... IPO has been withdrawn.
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34. hbk  May 4, 2012 5:49:47 PM IST
No interest from investors. 23.3% at 4.45pm. Dates will be extended or price band will be reduced. Even TBZ was subscribed higher number of times. Not going well for motherson group.
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33. Priya Jain  May 4, 2012 5:13:20 PM IST
Issue subscribed around 0.23 times 4 PM. Either date will be extend innext 1 hrs or it will be withdrawn.....its all as expected :(
avatar
32. AJEET P SINGH  May 4, 2012 5:11:43 PM IST
SUPER FLOP ISSUE
QIB=0.4816
NII=0.0072
RII=0.0146
EMP = 0.0022
TOTAL = 0.1925
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31. Ranjana Pandey  May 4, 2012 4:41:50 PM IST
The loss that is appearing includes Rs 67 crore which is a one time right off of the acquisition cost of Peguform and almost about Rs 70 crore of mark to market loss. Looking at the growth chart of motherson, one must aaply for shares. Gwoth is guaranteed.
avatar
30. Ryan  May 3, 2012 11:26:12 PM IST
Hi All,
In current scenario, its even wastage of time to talk about such ipos.
There is only 100% risk in these issues. No chance of gains.
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30.1. WILSON GRACE  May 4, 2012 2:51:11 PM IST
Yes I agree with you completely.

guys this issue will come as a disaster for those who have applied for.
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30.2. SOMPRASH  May 4, 2012 8:17:18 PM IST
Talking about such types of IPOs is not a wastage of time.

After good discussions , we are able to avoid these types of IPOs.

From the very first day , I was highlighting the loss of 152.9 crore.
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30.3. Ryan  May 4, 2012 11:57:46 PM IST
You didn't get my point. Even dicussion abt these ipos shd be avoided.
Why to waste your precoius time in discussing useless ipos.
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29. GOOD BROKER  May 3, 2012 11:13:25 PM IST
TAKE AN MISS NOT WORTH APPLING LOSS MAKING AND GRADE 4 IT IS REALLY GRADE LESS TO APPLY
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28. gundu anna  May 3, 2012 10:26:52 PM IST
I have decided Not to apply for samvardhana IPO for the reasons mentioned in my previous post.

For those applying, I wish good luck!!!
avatar
27. kandavelu s  May 3, 2012 6:27:45 PM IST
Real Price band should not be more than 55 to 60. Avoid it.
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