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Sintercom India Limited IPO (Sintercom India IPO) Detail

Feb 5, 2018 - Feb 7, 2018

Incorporated in 2007, Sintercom India Limited is Pune-based Company engaged in the business of manufacturing sintered metal automotive components of engines, transmissions systems, body chassis and exhaust applications using sintering manufacturing processes. The products manufactured by the company are used in the commercial and passenger vehicles.

The main product line of the Company is manufacturing of high strength structural sintered components of Engine and Transmissions.

Company mainly caters to the domestic Original Equipment manufacturers (OEM) buyers like Maruti Suzuki Limited, Mahindra & Mahindra Limited, Bajaj Auto Limited and Fiat India Automobiles Private Limited in automotive segment. Company has an in-house dedicated Research & Development team. Company has been developing new products in engines, transmission systems and body chasis for OEMs and Tier-1 customers.

Company Promoters:

Mr. Jignesh Raval, aged 47 years, is the individual promoter of the company.

BRN Industries Limited and Miba Sinter Holding are the corporate promoters of the company.

Objects of the Issue:

The Offer comprises of Fresh Issue by our Company and an Offer for Sale by the Selling Shareholders.

The Offer for sale
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.

The Fresh Issue
The objects to the Net Proceeds of the Fresh Issue are:
1. To finance expansion of production capacity at existing unit
2. Part repayment of secured and unsecured loan availed by the Company.
3. Funding the working capital requirements of the Company
4. General corporate purposes.

Issue Detail:

  »»  Issue Open: Feb 5, 2018 - Feb 7, 2018
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 6,546,000 Equity Shares of Rs 10 aggregating up to Rs 42.55 Cr
    ›  Fresh Issue of 3,016,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
    ›  Offer for Sale of 3,530,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 63 - Rs 65 Per Equity Share
  »»  Market Lot: 2000 Shares
  »»  Minimum Order Quantity: 2000 Shares
  »»  Listing At: NSE SME

Anchor Investors Allocation

02 Feb 2018 - Sintercom India Ltd. Allots 18,40,000 equity shares at Rs. 65 per share aggregating to Rs. 11.96 crore (approximately) to 3 Anchor Investors.

The anchor investors include leading investors namely:

  • Resonance Opportunities Fund
  • Raisonneur Capital Ltd
  • India Max Investment Fund Ltd

Sintercom India IPO Reviews / Recommendations:

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Sintercom India IPO Prospectus

Sintercom India IPO Rating

159
4.2
Rating:Rated 4.2 stars

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Sintercom India IPO Listing Date

  •   ›  Listing Date: Thursday, February 15, 2018
  •   ›  BSE Script Code:
  •   ›  NSE Symbol: SINTERCOM
  •   ›  Listing In:
  •   ›  ISIN: INE129Z01016
  •   ›  Issue Price: Rs 65 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
NSE SME
Issue Price:Rs 65.00
Open:Rs 78.00
Low:Rs 78.00
High:Rs 78.00
Last Trade:Rs 78.00
Volume:72,000

Sintercom India IPO News Alerts

  1. Thursday, February 15, 2018 12:00:00 AM
    Sintercom India IPO Listing Date & Info
  2. Wednesday, February 14, 2018 12:00:00 AM
    Sintercom India IPO Allotment Status
  3. Wednesday, February 7, 2018 12:00:00 AM
    Sintercom India IPO - Close
  4. Monday, February 5, 2018 12:00:00 AM
    Sintercom India IPO - Open

Company Contact Information

Sintercom India Limited
Gat No. 127, At Post Mangrul,
Taluka Maval, Talegaon Dabhade,
Pune 410 507
Phone: +91 2114 661200
Fax: +91 2114 661202
Email: investor@sintercom.co.in
Website: http://www.sintercom.co.in/

Sintercom India 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: sintercom.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Sintercom India IPO Review / Comments

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65. SecTheta  Feb 22, 2018 14:34 I Like It. | Report Abuse
BUY if you don''t have any. HOLD if you already have!
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65.7. Kuvadva....  Mar 2, 2018 13:15 I Like It. | Report Abuse
Sectheta ji.
As per your view one point one gave nearly 20 percent return recently from 76 to 91. What is your view on sintercom ??
Which one is better among sintercom and south west pinacle??

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65.8. SecTheta  Mar 5, 2018 21:48 I Like It. | Report Abuse
Sintercom and SAW both give good returns but you need to patient. For 1P1, I think it should cross 100 by this weekend. Let''s see.
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64. SecTheta  Feb 17, 2018 06:19 I Like It. 1 | Report Abuse
Now PANTOMATH seems to be GREEDY. They are NO MORE INVESTOR FRIENDLY! ONE Point ONE and Sintercom, both had anchor Investor and both are below the price when circuit opened. This clearly shows that they don''t want retail Investors to be investors in GOOD companies by creating panic in manipulating and keeping the price low... Hardly matters for long term Investors but short term or new investors are all fu**** up!
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64.7. SecTheta  Feb 23, 2018 11:36 I Like It. | Report Abuse
Bhai Bhai ke kaam ni aayega to kaun aayega...
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64.8. SecTheta  Feb 23, 2018 14:44 I Like It. | Report Abuse
S2S, Sintercom and Tasty dairy dono chalenge :)
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63. DownriteVJ  Feb 19, 2018 09:32 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
69
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62. CA Nitin Agrawal  Feb 14, 2018 11:27 I Like It. 1 | Report Abuse
somebody should complain about the look in the ipo. I have a very decent record of non allotting shares in ipo from last more then 10 ipos. Where are SEBI watchdogs ?
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62.7. SecTheta  Feb 14, 2018 18:15 I Like It. | Report Abuse
LMs want to kick out retailers... All the recent IPOs have this trend!
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62.8. ML  Feb 17, 2018 08:28 I Like It. | Report Abuse
intime ''s alotment is fair but in big share there is must some wrong.
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61. Ficpl  Feb 16, 2018 10:58 I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 500+ Likes)
Trading at 73.8
5% Down



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60. HARI IPO  Feb 15, 2018 18:20 I Like It. | Report Abuse
DownriteVj Sir, please tell buyer qty of shares. As I see sintercom after 5 p.m
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60.1. DownriteVJ  Feb 16, 2018 10:30 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Doesnt matter now as trading has resumed
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59. Carn Mohan  Feb 16, 2018 10:00 I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
MHHL is 100 time better than sintercom
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58. DownriteVJ  Feb 16, 2018 08:21 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Circuit removed
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58.2. Jjv  Feb 16, 2018 08:57 I Like It. | Report Abuse
Today UC will be there??
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58.3. DownriteVJ  Feb 16, 2018 09:00 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
No, Trading has already been resumed
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57. HARI IPO  Feb 15, 2018 20:46 I Like It. | Report Abuse
Umang Sir, is 3 UC expected. Please tell as you are Master in SME or I exit on Friday i.e on 2UC as I sell on listing days. Please said thanks Sir,
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56. HARI IPO  Feb 14, 2018 20:57 I Like It. | Report Abuse
Yes I have got 1 out of 3 and expect 2 UC. Your views about this ipo please as ultrasonic you are master from cadsys
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56.1. Umang and his ultrasonic uproar  Feb 15, 2018 19:11 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
@ Hariom,
I am copy/pasting below article for you, which I read it on net.
_______________________________________
Sintercom India Ltd

Market Cap @ 65/- ~156crs
Revenue 1H18: 36.3crs / FY17 – 66crs
Margins: ~24%

Why to read more about Sintercom

One of the three company in India making Sintered products (Auto component) alongside GKN (a MNC), Sundram Fastener.
An associate of global market leader ‘Miba’ in Sintered products
Strong board/management composition
Strong margin profile for a 66crs revenue company.
Growing and untapped market
Company Background:
Sintercom India Ltd. is one of the leading automotive sintered components manufacturer located in Pune, India. It specialises in manufacturing medium to high density sintered components for automotive engine, powertrain and exhaust systems as well as sensor components for global customers. Company was started by Mr. Jignesh Raval in 2007 as Maxtech India Pvt. Ltd. Mr. Raval is a technocrat with over 20years of experience in Automotive industry. Prior to starting Sintercom, he was working with Tenneco Inc as ED, Global Supply Chain Management division.

Timeline:
2007 – Started as Maxtech India Pvt. Ltd
2010 – Started manufacturing Stainless Steel Hego Boss (converted forged parts to Sintered products)
2011 – Entered into a JV with MIBA Sinter Austria (converted Forged Gears to Sintered Gears)
2012 – Changed company name to Sintercom India Pvt. Ltd (kept introducing new products)
2013 – Started supplying to Maruti Suzuki
2015 – Developed 6-speed transmissions Syncro Hubs
2016 – Developed a product for Bajaj Auto (Forged shift tower component to sintered)

Board of Directors
Mr. Hari Nair – Chairman, ex-COO, Tenneco, 20yrs experience
Mr. Jignesh Raval – MD, CEO
Mr. Markus Hofer – CFO, Miba AG
Mr. Harald Nuubert – CEO, Miba Sinter Group

Management Team
Mr. Jignesh Raval – MD, CEO
Mr. Pankaj Bhatawadekar – CFO
Mr. Nikhil Chavan – Head, Engineering and Marketing
Mr. Sachin Gunjal – Head, Manufacturing

What is Sintering Technology
Sintering is a process that uses metal powder to make components. Sintered products are highly tensile and density higher than normal casting and foundary products. Please go through the video here to understand more about the process.
Sintering is a green technology as it uses metals scrap and uses less water and energy compared to Casting and foundaries.

Market Sizing
Currently market size of Sintered products in automotive segment is pegged at ~950crs. Share of sintered products in PV is ~4kg/Passenger vehicle, however in the US this comes to 17kgs and in EU and Japan, this is around 12kgs. If management is to be believed, this could go up to 7kgs over next 5 years.
Since sintered products are lighter than casting/forging products, hence they are more and more preferred by the OEMs to reduce the weight of the vehicle which helps in increasing efficiency of the vehicle.

If Auto analysts are to be believed then 2W market is expected to increase by 12% per annum to reach 23-24m while PV is expected to go up to 5m over next 2-3 years. Also as BS VI will roll out in 2020-21, usage of sintered products is expected to go up by another 1-1.5kg/PV.

With rough calculation, we can arrive at the market size of ~1500-2000crs over next few years. That roughly doubles the market in next few years.

Sintercom currently has market share of ~6.5% which it expects to increase it to ~10% by 2020-21

Key Customers
Sintercom has long standing relationship with major players in India like Mahindra’s, Bajaj, Maruti, Honda and others. It is also exporting a small portion to Suzuki for products in Japan

Financials & Other operating metrics

4-yr Revenue CAGR – 10.7%
4-yr Sintered Products revenue CAGR – 18.5%

4-yr EBITDA CAGR – 15.2%
4-yr PAT CAGR – 104% (On a low base)

EBITDA margin has improved from 17-18% to 24% in 1H18. This is largely because of discontinuation of sale of Hego Boss (non-sintered product) which was a low margin business. Management had consciously taken this decision to reduce sale of hego boss and as of 1H18 it has been discontinued. Sintered products have higher margins and every new product introduced will improve the margins further.

RoCE has increased from 11% in 2013 to 14% in 2017 & 18% in 1H18.

Cash Flows: Company is generating ~10-11crs of operating cash flow and uses it to reduce debt.

Asset turnover is ~ 1.5x and operates at 70-75% capacity. They use rest of the capacity for R&D purposes to bring new prototypes.
Valuation
At IPO price, company will have a market cap of ~156crs. In 1H18, company has generated PAT of ~3crs and is likely to cross ~6crs for FY18. It would command a multiple of ~26x at IPO price which is not expensive but not cheap either. Other auto ancilliary companies with similar margin profile trades at higher multiples.

Other Details:
MIBA AG would hold ~20% after the IPO. Company pays 3% royalty to MIBA for the technology/Know-how that they use from MIBA.
Company has an order book of 50crs for New products that it has developed.
________________________________________
I think this article will help you.
Dics::::I have not applied in this SME, as I was running out of funds.

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55. MAMU  Feb 15, 2018 19:03 I Like It. | Report Abuse
It will available for tomorrow to trade
if you are planning for long time to n keep this in your portfolio else sell pm high and roation your money in good stock.
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54. HARI IPO  Feb 15, 2018 18:42 I Like It. | Report Abuse
Mami Sir, 11lk mean 11 lakh, Is 3 UC POSSIBLE OR EXIT ON 2 UC.
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53. MAMU  Feb 15, 2018 18:34 I Like It. | Report Abuse
during market 11lk
post closing 86k
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52. MAMU  Feb 15, 2018 18:07 I Like It. | Report Abuse
due to less buyers whole day, tomorrow it will circuit breakup..
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51. BABUKALIA  Feb 15, 2018 17:44 I Like It. | Report Abuse
Tomorrow circut khul jayegi
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50. CA nkn  Feb 15, 2018 15:12 I Like It. 2 | Report Abuse
hold ....... who got allotted till 3 day ......... this sector bullish .... QIB most buying active....
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50.1. DownriteVJ  Feb 15, 2018 15:40 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Yeah
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49. DownriteVJ  Feb 15, 2018 13:23 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Cheers to all those who got allotted. 2nd UC coming tomorrow mostly
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48. DownriteVJ  Feb 15, 2018 13:19 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
I am wondering how come this got listed today?
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47. bepatient  Feb 15, 2018 08:23 I Like It. | Report Abuse
1st UC ...what to do ...hold or sell ?
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47.1. Ankit Jain  Feb 15, 2018 08:26 I Like It. | Report Abuse
As your name defines it be patient and hold it tight for another two sessions.
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47.2. DownriteVJ  Feb 15, 2018 13:19 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Hold boys
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46. S Patel  Feb 15, 2018 08:22 I Like It. | Report Abuse
I don''t see SINTERCOM script in zerodha account, but same I can see in Sharekhan. Does anyone else face the same issue.
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46.1. Jjv  Feb 15, 2018 10:40 I Like It. 1 | Report Abuse
Login to Kite 3.0. It will be then shown and traded
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46.2. S Patel  Feb 15, 2018 11:12 I Like It. | Report Abuse
Thanks a lot Jjv, Now I can see script using Kite 3
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