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Shalby Limited IPO (Shalby Hospital IPO) Detail

Dec 5, 2017 - Dec 7, 2017

Incorporated in 2004, Shalby Limited is Ahmedabad, Gujrat based one of the leading multi-specialty chain of hospitals in India. Company provides inpatient and outpatient healthcare services through 8 fully operational hospitals with an aggregate operational bed count of 781 beds. Company also provides outpatient consultative healthcare services through 3 hospitals and 68 Outpatient Clinics. Company has 8 shared surgery centers within third party hospitals.

Shalby hospitals are well known for its orthopaedic services. Shalby Hospital had a 15% market share of all joint replacement surgeries conducted by private corporate hospitals in India in 2016. Apart from a focus on orthopaedics, Shalby hospitals provide advanced levels of care across various specialties such as neurology, cardiac care, critical care, oncology, and nephrology.

Since March 2007, Shalby hospitals have conducted an aggregate of 84,579 surgeries, and provided healthcare services to an aggregate of 923,441 patients, consisting 121,576 inpatients and 801,865 outpatients.

Shalby hospitals operate across five states and Outpatient Clinics operate across 53 cities in 16 states in India. Company also has six Outpatient Clinics and one Shalby Arthroplasty Centre of Excellence (SACE) in Africa, and two SACE in the UAE.

Shalby hospital is led by Dr Vikram Shah, an orthopaedic surgeon with more than 25 years of professional experience. Dr Vikram Shah is one of the promoters of the company.

As of December 31, 2016, Shalby hospital employed 1,599 employees and engaged 267 professional consultants, consisting 242 doctors who are full-time consultants and 25 doctors who are part-time consultants. Hospital's staff strength also comprises 458 nurses and 1,141 paramedical, corporate and support staff and pharmacists.

Company Promoters:

The Promoters of our Company are Dr Vikram Shah, Dr Darshini Shah, Shanay Shah, Shah Family Trust, and Zodiac Mediquip Limited.

Dr Vikram Shah, Dr Darshini Shah, Shanay Shah, Shah Vikram Indrajit HUF and Shah Indrajit Chimanlal HUF are the promoters of Zodiac Mediquip Limited.

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 7181.75 5,039.14 3,513.41 2,168.30 1,520.96
Total Revenue 3,328.62 2,925.56 2,776.26 2,616.76 2,298.28
Profit After Tax 615.74 363.19 245.52 377.47 150.09

Objects of the Issue:

The Offer comprises of the Fresh Issue and the Offer for Sale.

Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following objects:
1. Repayment or prepayment in full, or in part of certain loans availed by the Company;
2. Purchase of medical equipment for existing, recently set up, and upcoming hospitals;
3. Purchase of interiors, furniture, and allied infrastructure for upcoming hospitals; and
4. General corporate purposes.

Company will not receive any proceeds from the Offer for Sale.

Issue Detail:

  »»  Issue Open: Dec 5, 2017 - Dec 7, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: [.] Equity Shares of Rs 10 aggregating up to Rs 504.80 Cr
    ›  Fresh Issue of [.] Equity Shares of Rs 10 aggregating up to Rs 480.00 Cr
    ›  Offer for Sale of 1,000,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 245 - Rs 248 Per Equity Share
  »»  Market Lot: 60 Shares
  »»  Minimum Order Quantity: 60 Shares
  »»  Listing At: BSE, NSE

Shalby Hospital IPO Reviews / Recommendations:

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Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved4,165,2673,070,6267,164,793121,00014,521,686
Day 1 - Dec 5, 2017 17:00 IST0.34000.01000.20000.24000.2000
Day 2 - Dec 6, 2017 17:00 IST0.34000.02000.71000.62000.4600
Day 3 - Dec 7, 2017 20:20 IST4.34000.42002.98001.44002.8200

Shalby Hospital IPO Prospectus

Shalby Hospital IPO Rating

1019
3.8
Rating:Rated 3.8 stars

Vote Here ...

Shalby Hospital IPO Listing Date

  •   ›  Listing Date: Friday, December 15, 2017
  •   ›  BSE Script Code: 540797
  •   ›  NSE Symbol: SHALBY
  •   ›  Listing In: B
  •   ›  ISIN: INE597J01018
  •   ›  Issue Price: Rs 248 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
BSE
Rs 248.00
Rs 237.00
Rs 236.15
Rs 254.65
Rs 239.25
1,805,266
NSE
Rs 248.00
Rs 239.70
Rs 236.45
Rs 254.80
Rs 239.60
10,353,180

Shalby Hospital IPO News Alerts

  1. Friday, December 15, 2017 12:00:00 AM
    Shalby Hospital IPO - Listing
  2. Wednesday, December 13, 2017 12:00:00 AM
    Shalby Hospital IPO - Allotment
  3. Thursday, December 7, 2017 12:00:00 AM
    Shalby Hospital IPO Closes on Dec 7th
  4. Tuesday, December 5, 2017 12:00:00 AM
    Shalby Hospital IPO Open on Dec 5th

Company Contact Information

Shalby Limited
Opposite Karnawati Club,
Sarkhej Gandhinagar Highway,
Near Prahlad Nagar Garden, Ahmedabad 380 015
Phone: +91 79 4020 3000
Fax: +91 79 4020 3120
Email: companysecretary@shalby.in
Website: https://www.shalby.org/

Shalby Hospital IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

Shalby Hospital IPO Lead Manager(s)

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Shalby Hospital IPO Review / Comments

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382. Septa  Dec 5, 2017 5:38:13 PM IST I Like It. 42 | Report Abuse Reply
IPO Guru IPO Guru (3900+ Posts, 4400+ Likes)
I have read the RHP once i reached page 160 i stop reading and going ahead and applying this IPO. presently out 9 hospital only 2 big hospital and one small are a mature cycle. The rest 6 in if infancy stage(new hospital) plus another 3 green shot hospital project.... So from here revenue will grow bcoz it takes at least 3 to 5 years for a hospital to give positive EBITA.....

Will it give listing gain: yes very less 4% to 12% depending on market condition on listing at the fair price is around 220 at 25% MOS so listing will be in range of Rs 220 to Rs.280

presently i am more interested in applying pre IPO in Hero finance, NSE, TMB, CSB so will be busy reading offer documents from these pre IPO

With regards to Future logistic apply for listing gain good business model with GST and infra status

Thank you,

Septa

Click here to follow my secondary market messages.

avatar
382.17. Nidhike  Dec 26, 2017 1:16:00 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
Lesson to be learnt
Never jump to conclusions before reading full pages
avatar
382.18. Futurze Avenue  Feb 3, 2018 4:49:46 PM IST I Like It. | Report Abuse
Dear Septa Sir,

We really need your guidance & support in this market turbulence..

Share information if you are available on any other kind of communication modes like twitter etc. to guide small retail investors.

Regards,
Nilesh
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381. SATYA VARAPRASAD  Jan 8, 2018 3:26:13 PM IST I Like It. | Report Abuse Reply
Hi Friends, What is the expected price (Shalby Limited) to sell this Share, I brought it on at 248rs, am holding 50 shares... Please help when to Sell Shelby Limited...
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381.1. Rajendch  Jan 8, 2018 5:55:54 PM IST I Like It. | Report Abuse
This is the time to buy. hold for long term.
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381.2. Sitesh Gupta  Jan 23, 2018 12:07:46 AM IST I Like It. | Report Abuse
60 shares 248 ke Hai .Kay kare
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380. Rajendch  Jan 9, 2018 8:02:23 PM IST I Like It. 1 | Report Abuse Reply
Shalby Limited: The company announced its financial results on Tuesday. It posted an increase in its net profit to Rs. 1019.99 crore for the quarter ended December 31, 2017. The stock should buy on January 10, 2018.

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380.1. Arup jamshed  Jan 9, 2018 8:28:39 PM IST I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Lol ,1019crs is revenue.
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379. PearlRohit  Jan 8, 2018 11:20:44 AM IST I Like It. 3 | Report Abuse Reply
SHALBY LTD. ANNOUNCE LATEST SHARE HOLDING PATTERN
79.40 % PROMOTER, 19.65 PUBLIC, 0.94 OTHER HOLDING
PROMOTER HOLDING IS VERY GOOD. BUT OR HOLD THIS SHARE
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378. Rajendch  Dec 28, 2017 12:44:32 PM IST I Like It. 8 | Report Abuse Reply
Time to buy this stock, don''t be late.
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377. Patel Aksh  Dec 24, 2017 11:05:08 PM IST I Like It. | Report Abuse Reply
Sell Emijeatly on Shalby. Continue Low..
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376. IPO Analysts  Dec 21, 2017 6:17:36 PM IST I Like It. 6 | Report Abuse Reply
Its time to buy more stocks of Shalby. Otherwise you will miss the opportunity just check its price after 6 months !!

Shalby is good management company(+ growing company) their future planning is very good to increase their profit easily for at least some years.

Do u remember the listing of the following IPOs?? They were closed in discount but see their price now same thing will repeat in Shalby.

Eris
Varun Beverages
L&T Info
HCG
Bharati Infratel
SIS
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376.1. SoniAmit  Dec 21, 2017 10:19:41 PM IST I Like It. | Report Abuse
Future supply ipo..is ko rokna chaiey ....ya sale out karna chaiey...
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375. DashPra  Dec 21, 2017 8:34:51 PM IST I Like It. 2 | Report Abuse Reply
This IPO making loss. Do I sell this ?
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374. DashPra  Dec 21, 2017 8:34:10 PM IST I Like It. 4 | Report Abuse Reply
Why people are selling share of this profit making company ?
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373. SoniAmit  Dec 20, 2017 10:30:26 PM IST I Like It. | Report Abuse Reply
Kya karna chaiey abhi is ipo ka....kab tak cover hoga
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372. 🇮🇳.A.R.🇮🇳  Dec 15, 2017 4:28:36 AM IST I Like It. 1 | Report Abuse Reply
Conviction says listing @ 257...
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372.1. vishnu.agarwal  Dec 20, 2017 9:55:26 AM IST I Like It. 3 | Report Abuse
Kaha gya conviction....
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371. Market kid  Dec 18, 2017 8:46:37 PM IST I Like It. 9 | Report Abuse Reply
Many learned person warn about shalby, but you still holding then,
Target is 165.33 ,wait for that. Amen

See this


11. Market kid Dec 5, 2017 4:31:57 PM IST Reply
Shalby Limited IPO

Forum member must understand what is going on here,

On Nov28 gamble said
Revenue, PBT parallel but PAT swinging widely last 3 year, specially 2016 to 17, just before of an ipo
shalby ''''''''s CA must b good at financing and taxation!!!

On Dec 1 Priyank said
Shalby is not first priority of any local public (Ahmedabad )

Today nidhike suggesting
This will loot u this will koot u!!!!
PBT/PAT crooked.

Now let''''s see what Mr. Septa say !!


I learning financials now a days, and very much amazed why people calculate PE everytime? ?
PE is the last parameter to check upon.

Check EV/EBITDA , EV/PBT, EV/PAT
If all not go parallely then Dal me kuch kala hai, bruh

And check D/E, both line CAGRs, Brand Equity value, Market value, public opinion,RocE

Here EV/EBITDA is 1.5 times than other peers in case of shalby, also debt is too high.

So
Asli value of shalby is 248/1.5 = 165.3333333333 rs.

Wait for that.

Buy @165 for target 200 (due to good news of debt payment and new hospitals coming )

Requesting septa sir to not take PAT on DCF method, because PAT is TRAP here.

You say here PE low, Ronw higher than others,
But

PAT cooked,EPS wrong, PE wrong,

Ronw high due to nw(networth) of shalby is negligeble,Check it, compare it.

Anchor is not smarter than this forum.

Still take your own call only.and be trap for like millions of year.
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371.3. Meekesh shah  Dec 19, 2017 12:44:41 PM IST I Like It. 1 | Report Abuse
Keep it up
Good work brother
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371.4. Dani  Dec 20, 2017 8:12:01 AM IST I Like It. | Report Abuse
Please suggest the books so that , we can also learn ...
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370. gamble  Nov 28, 2017 11:35:42 PM IST I Like It. 52 | Report Abuse Reply
IPO Guru IPO Guru (1600+ Posts, 3600+ Likes)

......... Shalby Multispeciality Hospital. .........

________________________________________________
Good presence in gujarat, total 841 beds, 9 fully operating hospitals,
Good speciality in orthopaedic, replacement joint surgeries.

Future plan - setting up new hospitals at Nashik and Vadodara(till 2019)

In March 2017, they set up three new hospitals, Shalby Jaipur, Shalby Naroda, and Shalby Surat, which had an aggregate bed capacity of 747 beds, which have commenced providing inpatient services from April, 2017, July, 2017 and August, 2017, respectively.

________________________________________
@ upper band m.cap 2670cr

REVENUE caGr(5 yr): 9.5%, (3 yr) : 6%
PAT Cagr(5 yr) : 38% , (3 yr) : 33%
PBT caGr (5 yr) : 30% , (3 yr) : 7%

Revenue, PBT parallel but PAT swinging widely last 3 year, specially 2016 to 17, just before of an ipo
shalby ''s CA must b good at financing and taxation!!!

________________________________________
Peers.

................. PE(17)..... P/S...... REVENUE CAGR

N.H.............73........ .2.9x.......19%
APOLLO......71........ .2.3x.......18%
HCG............111...... ..3.3x.......17%
Fortis..........NA....... .1.6x.......1.5%

Shalby......... 42...... ..7.9x.......9.5%
_________________________________________
Valuation :

Pre offer shares : 88654932
Post offer shares : 108009770
PAT last yr : 625000000 rs

Eps pre offer : 7.1,post offer : 5.7
@248 PE => 42 (2017)

2017 margin 18.7%, 2018Q1 margin 16%

If give 10% growth in revenue i.e 366cr
PAT 58.5cr(16% margin)

EpS : 5.4 => PE :45 (2018)
_________________________________________

just forget peers and think 9% CAGR top line and m.cap = 8x sales, deserves
45 PE valuation???

In my opinion : A big No.
Peers trading 70-100PE but they trading 2-3x of sales only,
I m seeing whole sector as a overvalued.

35 PE good = 5.4*35 =190rs + 10% due to mkt condition
= 220 INR (fair value imo)

Listing may b : Flat to negative (khadim type)

Still Future perspective good, after 2019 it can b good bet due to expansion plans.
______________________________________
Rii forms reqd = 1.19L near,
5 L forms may come i.e 1/4 to 1/5 allotment chances.
______________________________________
ConcL.....

I m applying(with sold kostak only) , otherwise imo it''s clear avoid as of now, wait for better ones !!
U may decide after seeing 2nd day subscription fig or till SPT review.



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370.14. gamble  Dec 15, 2017 8:39:20 PM IST I Like It. 6 | Report Abuse
IPO Guru IPO Guru (1600+ Posts, 3600+ Likes)
Baccho ko calculator/mobile se dur rkhe aur maths k 2-3 tuition lagwaye taki esi galtiya na ho !!!


210 what i should hv written instead of 220,

But when stock going down it''s not matter 220/210/200....
5-10% movement doesn''t matter

IT''s not that it will come at 210 and then take sharp U turn. Or
It may not even come 210

But this 190-210 is range which one can prefer to buy for meaningfull return(imo)
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370.15. Blissful  Dec 20, 2017 7:49:24 AM IST I Like It. | Report Abuse
Hi Brother

Can i know how did you calculated Pre & Post Offer shares
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369. Fakhru  Dec 19, 2017 10:42:08 AM IST I Like It. 1 | Report Abuse Reply
I think many people here deserve such IPOs. Even after repeated warning, people don''t apply any sense and keep applying to such IPOs. They then end up spamming the forum by asking when to sell and when to hold. If few IPOs have done well, stop being greedy in thinking that every IPO will do well.
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368. hiteshzee  Dec 18, 2017 7:09:47 PM IST I Like It. | Report Abuse Reply
Shelby still hold..pls tell what to do ?
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367. Hiren K.  Dec 15, 2017 10:34:30 PM IST I Like It. 4 | Report Abuse Reply
I also comment earlier. Dont invest on this type of faltu companies with higher P/E. Leave from this stock, will go down more and more. Hope you will understand.
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367.3. Hiren K.  Dec 18, 2017 11:45:42 AM IST I Like It. 2 | Report Abuse
Down and down
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367.4. mDelhi  Dec 18, 2017 6:56:41 PM IST I Like It. | Report Abuse
You post about GIC which is still below the issue price and Mahindra Logistics Limited IPO

3. Hiren K. Oct 11, 2017 3:43:29 PM IST Reply
General Insurance Corporation of India IPO

Very Good response from QIB on first day...
4. Hiren K. Oct 13, 2017 8:47:05 AM IST Reply
General Insurance Corporation of India IPO

My personal advice,. Go for GIC ipo, as Every Government company IPO or ofs back up by LIC. and for IPO base price -912 will sustained after LISTIING as government already having backup plan with LIC to maintain base price of 912. So don''''t sell on panic on listing....will not seen down fall.

6. Hiren K. Nov 1, 2017 8:54:05 AM IST Reply
Mahindra Logistics Limited IPO

Except last year performance, no any point to invest on this company on this much price. I agree with Septa sir, totally avoid this IPO.
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366. SATYA VARAPRASAD  Dec 18, 2017 3:39:01 PM IST I Like It. | Report Abuse Reply
Hi Friends, Shalby is went down... How many days have to wait atleast get the 248 price.....
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366.1. SATYA VARAPRASAD  Dec 18, 2017 3:40:01 PM IST I Like It. 1 | Report Abuse
Please reply and suggestions please....
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365. gamble  Dec 16, 2017 11:12:11 PM IST I Like It. 3 | Report Abuse Reply
IPO Guru IPO Guru (1600+ Posts, 3600+ Likes)
Regarding New india Assurance

Currently trading at 45k cr valuation, with HY EPS 15, 1247cr PAT, FY expected EpS 23-25 rs , so PE somewhere 22-24,
BV somewhere 180(current 166)

P/B = 3x currently (545), plus 3% Dividend yeild

So, imo good entry point this range 540-500.

Gic re also good, entry point 750-780, pb 3x Pe 25

=> No big target just kip in mind that this 2 can replace your Bank FD for nxt 5 yr easily at this range.
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365.3. gamble  Dec 17, 2017 11:26:00 PM IST I Like It. | Report Abuse
IPO Guru IPO Guru (1600+ Posts, 3600+ Likes)
Yes traded intraday on listing day in nia , some sold that day only in upside, other after hitting SL, now planning to enter without SL in sip mode.
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365.4. Market kid  Dec 17, 2017 11:43:51 PM IST I Like It. 1 | Report Abuse
gamble bruh ,see this

Icici Lombard is peer of NIA okay )?

If you see PBT of both then
NIA 3000cr
IL. 1200cr

Now if do m.cap/PBT then
NIA = 15x
IL = 30x

If see Networth wise then new india is 4x of ILGI.

So this much difference shouldn''t be there,

NIA should command 20x of it''s PBT

20*3000 = 60000cr = 720 rs

Learning financial now a days,
It''s so much easy.

Am i right or am i right. ??
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364. HNM HARDIK MODI  Dec 15, 2017 6:36:52 PM IST I Like It. | Report Abuse Reply
Holding 2 lots - what to do? Can hold till 2 months
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364.1. HNM HARDIK MODI  Dec 17, 2017 7:59:38 PM IST I Like It. | Report Abuse
Can somebody guide?
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363. 🇮🇳.A.R.🇮🇳  Dec 16, 2017 9:12:44 PM IST I Like It. | Report Abuse Reply
ET has an article interviewing V.Shah, Shalby promoter, might be an interesting read for some... though I feel, it''s just a face-off between ethics and putting up a good face in front of the media... Doctors who have turned Entrepreneurs are really like pathogen I believe!

Here: https://economictimes.indiatimes.com/markets/expert-view/over-last-10-years-we-had-been-growing-more-than-35-year-on-year-vikram-shah-shalby-hospitals/articleshow/62080389.cms
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