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Karda Construction Ltd IPO Message Board (Page 10)

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djpv
19. djpv |   Link | Mar 16, 2018 11:44:03 AM
This IPO is not opened for application at SBI ASBA .Any reason?
Bhallal dev
19.1. Bhallal dev |   Link | Mar 16, 2018 11:49:35 AM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
& in corporation bank also
Vedu
18. Vedu |   Link | Mar 16, 2018 12:38:57 AM
Not the best ipo to invest in ,,, my nasik friend tells me this builder hasnt got a good rep !!
Bhallal dev
18.1. Bhallal dev |   Link | Mar 16, 2018 8:12:47 AM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
IT raid post demonetization.
Incomplete projects since long time and showing ongoing projects.Investors'' money stucked
Chandravadan taunk
18.2. Chandravadan taunk |   Link | Mar 16, 2018 10:46:51 AM
Been in Nasik for last 21 years and has seen Karda Group coming up before my eyes and they are down to the earth gentleman and with good reputation.
Vishakh bhatt
17. Vishakh bhatt |   Link | Mar 12, 2018 12:17:26 PM
What. Is actual GMP??one say 7-8 and one say 75-80.who is true??
djpv
17.1. djpv |   Link | Mar 15, 2018 9:21:43 PM
To my little knowledge and understanding you seem to be right sir it is veggy and lemon but available the cost of fruit or orange however both are having its importance and may be supplement/synergizer/potentiative of each other instead of antagonist in portfolio.
Aniketiaf
16. Aniketiaf |   Link | Mar 14, 2018 7:48:31 PM (1800+ Posts, 10200+ Likes)
Gmp @17:00 Hrs on 14 March 18-

Gmp of Sandhar is 18-20
Aniketiaf
15. Aniketiaf |   Link | Mar 14, 2018 7:47:59 PM (1800+ Posts, 10200+ Likes)
Gmp @17:00 Hrs on 14 March 18-

Gmp of KARDA is 13-16
BK PITALIYA
14. BK PITALIYA |   Link | Mar 14, 2018 12:31:28 AM
What is the average cost of aquisition of shares held by selling shareholders / promoters.
Is only one promoter in this company?
Riaz Khatri
14.1. Riaz Khatri |   Link | Mar 14, 2018 12:25:00 PM
PROMOTERS AVERAGE COST OF ACQUISITION OF Karda Construction IS RS 5/- AS MENTIONED ON PAGE NO 35 OF THE PROSPECTUS.
Riaz Khatri
13. Riaz Khatri |   Link | Mar 13, 2018 7:48:57 PM
WHAT IS RERA?

The Real Estate Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 square metres, or eight apartments, to register with the Real Estate Regulatory Authority (RERA) for launching a project, in order to provide greater transparency in project-marketing and execution..

HOW IS THE LEAD MANAGER ARYAMAN COMING OUT WITH NON RERA REGISTERED OR (A NON RERA COMPLIENT) COMPANY TO COME OUT WITH A PUBLIC ISSUE.

HOW HAS THE WATCH DOG (S.E.B.I.) GIVING A GREEN SIGNAL FOR SUCH NON-RERA REGISTERED OR (NON RERA COMPLIENT) COMPANY FOR AN IPO?
“DOCUMENTS CLEARED” SIGNAL GIVEN BY S.E.B.I IS ALSO QUESTIONABLE?

HOW IS THE LEARNED, ANALYST DILIP DEVDA GIVING A "SUBSCRIBE TAG" TO A NON RERA REGISTERED OR (NON RERA COMPLIENT) CONSTRUCTION COMPANIES IPO? REGRET TO SAY THAT ON BASIS HIS ANALYSIS, HUNDREDS OF INVESTORS WILL BE INVESTING, ITS REALLY IS VERY PITIABLE.
Chandravadan taunk
13.3. Chandravadan taunk |   Link | Mar 13, 2018 10:40:05 PM
Mr Riaz Khatri are you a SEBI registered analyst?
Riaz Khatri
13.4. Riaz Khatri |   Link | Apr 2, 2018 11:16:55 AM
YEEEEH

IT OPENED DOWN

AS I PREDICTED.


NO RERE REGISTRATION NUMBER


HA HA HA HA HA
dhanapal
12. dhanapal |   Link | Mar 12, 2018 10:37:33 PM
Should apply this IPO or not many -ve comments are coming for this company
R R Patel
11. R R Patel |   Link | Mar 10, 2018 4:46:12 PM
IPO Mentor IPO Mentor (800+ Posts, 3300+ Likes)
Karda Construction Ltd. IPO schedule:
16 March – Offer Opens
21 March – Offer Closes
26 March – Finalisation of Basis of Allotment
27 March – Unblocking of ASBA
28 March – Credit to Demat Accounts
02 April – Listing on NSE & BSE

Total issue size Rs.77.4 crores @ upper price band (Fresh issue of 23 lakh shares and an offer for sale of 20 lakh shares by promotor Naresh Karda)

Face Value - Rs.10 per share
Price band - Rs.175 - 180 per share
Lot size - 80 shares

Incorporated in 2007, Karda Constriction Ltd is a Nashik based real estate development company which develops and sells residential and residential-cum-office projects in Nashik.

Company has successfully completed and delivered 17 residential projects and office space projects of 10,50,525 sq. ft. carpet area since 2007 and currently they have 13 Ongoing projects of 15,27,368 sq. ft. carpet area and 3 Planned projects.

Issue constitutes 34.96% of post issue paid up capital of the company. Post issue the stake of promoter Naresh Karda will remains 45.53% while 19.51% by 8 other Karda family members total 65.04%. Company has issued bonus in the ratio of 4:5 in June-2016 & again in the ratio of 1:9 in July-2017.

Certain litigation filled by company and Directors like income tax of 4.35 crores & sales tax of 58 lskh against company & income tax of 8.93 crores against Directors.

Company will utilize the amount of Rs.23 crores towards paying overdraft facility which is at 25.09 crores taken from SBI, AXIS & other banks at 11.8-14% interest rates which help it in maintaining favourable debt equity ratio & enhance its leverages capacity. Another Rs. 7 crores will be utilize to repayment of term loan taken from icici & ibull housing which is due Rs.86.22 crores as on Sep-2017.

Basic EPS & RoNW on standalone basis:
2015 - Rs.3.08 - 18.92%
2016 - Rs.6.37 - 28.27%
2017 - Rs.8.03 - 26.46%
2018(HY) - Rs.5.52 - 15.39% not annualised.
NAV as on Sep.30, 2017 is Rs.35.87 per share.

@180 Market Cap is Rs.221.4 crores.

Equity shares outstanding prior to the offer are 1 crore shares.
Equity shares outstanding after the offer are 1.23 crores shares.
Offer for sale of equity shares 20 lakh.

Category wise breakup:

QIB (10%): Rs.7.74 crores i.e. total 4.3 lakh shares available for bids by QIB.

HNI/NII (40%): 17.2 lakh shares amounting to Rs.30.96 crores.

Retail (50%): Rs.38.7 crores i.e. 21.5 lakh shares so only 26,875 lots available for allotment in retail category.

Subscription required for 1X
QIB - Rs.7.74 crores only
HNI - Rs.30.96 crores only
Retail - 26,875 forms/lots only

Interest cost for HNI for 1X @6% for 7 days
31 paise for 1X that means Rs.0.21 per share on applied shares. If we assume 500X HNI subscription than interest cost will be Rs.105 per share.

FY17 PE 22.4
@HY18 PE 16.3

Peer comparison:
Co. --------- FY18 PE (upto Q3)

Kolte Patil ---------------25
Prerna Infrabuild Ltd -
Arihant Superstructure-64
HG Infra Engineering - 30
Dilip Buildcon Ltd -------23.6
Ashoka Buildcon --------- 21
KNR Construction -------17.3
Sadbhav Engineering -- 33.5
PNC Infratech --------------22.6

So overall a very small company focused in Nashik and nearby areas. Good track record of timely completion of projects. Good demand of residential prperties in Maharashtra. Good revenue and PAT growth. Only concern is term loan of 86+ crores due as on sep-17 and its like a one family company & also market sentiment.

So conclusion is that due to very small issue only 26,875 lots are available in retail category so tough chances of allotment and heavy subscription expected so it may give handsome listing gain to the lucky allotees like Astron, Apollo, Salasar. So try your luck & also be wise, do some analysis, read exports comments, track subscription figures and than decide because Bharat Dynamics, Hindustan Aeronautics & Bandhan Bank IPO also coming in same week.

Thanks and regards
rrpjodhpur
Bhallal dev
11.1. Bhallal dev |   Link | Mar 10, 2018 5:51:19 PM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
dear rr

As per DRHP the listed peers are small-cap Kolke-Patil , Prerna and Arihant only which are also engaged in residential projects.The rest you are comparing are engaged in road building projects which can''t act as substitute.It is something like comparing fruit with vegetable.

However from the index there are other companies like godrej property , oberoi realty , sobha , prestige ,phoenix , DLF and so on but they are engaged in separate and large commercial projects also.Second thing is that their business model is also different.So we cant compare them exactly.It is something like comparing lemon with orange.
Dr. Jan Itor
11.2. Dr. Jan Itor |   Link | Mar 12, 2018 6:45:18 PM
Bhallal sir, somehow I get the feeling that you were shopping for veggies when you posted this. ;)
anand thakkar
10. anand thakkar |   Link | Mar 11, 2018 7:54:26 PM
What is current GMP???
Bhallal dev
10.1. Bhallal dev |   Link | Mar 12, 2018 11:37:52 AM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
7-8 !!!
RaviKumar Gudapati
9. RaviKumar Gudapati |   Link | Mar 11, 2018 3:54:40 PM
What is the GMP of the IPO
Devendrablt
8. Devendrablt |   Link | Mar 10, 2018 11:11:17 PM
Which city this subject to
Tin Tu
8.1. Tin Tu |   Link | Mar 11, 2018 12:10:32 PM
nashik
Solution of Queries
7. Solution of Queries |   Link | Mar 9, 2018 10:25:03 PM (1100+ Posts, 1400+ Likes)
T Group Listing
Only 18812 lots available in retail segment.

Subscribtion can be anything...hahaha
sonal patel
7.1. sonal patel |   Link | Mar 11, 2018 8:23:18 AM
IPO Guru IPO Guru (1400+ Posts, 5500+ Likes)
Around 26875 lots available for retailers not 18000
Solution of Queries
7.2. Solution of Queries |   Link | Mar 11, 2018 11:54:50 AM (1100+ Posts, 1400+ Likes)
Yes , corrected its 26875 lots for one time subscription.

i done with 35% portion for retail segment. but its 50%
sonal patel
6. sonal patel |   Link | Mar 10, 2018 8:51:36 PM
IPO Guru IPO Guru (1400+ Posts, 5500+ Likes)
Gmp of karda construction is 75-80, sub to 4500-4700
ipo share
5. ipo share |   Link | Mar 10, 2018 2:38:45 PM
IPO Mentor IPO Mentor (800+ Posts, 500+ Likes)
Don''t forget, retail investors couldn''t sell Apollo Microsystem for 10 days due to continuous Lowe circuit as it was also T category share. What was the use of 69% listing for small investors?
This is also T category IPO. So retail need to be very cautious.
Solution of Queries
4. Solution of Queries |   Link | Mar 9, 2018 10:28:23 PM (1100+ Posts, 1400+ Likes)
Lead manager aryaman financial services ltd. Which is recently handled Apollo micro systems ipo ( listed with 69% in NSE ).
guptahitz
3. guptahitz |   Link | Mar 9, 2018 3:21:08 PM
so many IPOs togather. time for small investors to be smart
sonal patel
2. sonal patel |   Link | Mar 9, 2018 11:33:31 AM
IPO Guru IPO Guru (1400+ Posts, 5500+ Likes)
good ipo like salasar and apolo micro system.......
Bhallal dev
1. Bhallal dev |   Link | Mar 9, 2018 11:30:33 AM
IPO Guru IPO Guru (1400+ Posts, 3300+ Likes)
1 day more for subscription for T group stock than big issue size HAL !