On Door Concepts Limited IPO Message Board (Page 4)

A very strong SME IPO coming soon

Transteel Seating Technologies
Around 30 cr Issue
Company is good

2 LMs in SME
Pantomath and Gretex

Strong = AVOID

High value pr hoga toh hum AVOID karenge
Sahi value pr Company hame AVOID karegi.
Totally AVOID hona tay hai.

Valuation of 80 cr
PAT : 9.5 cr app.

Very good Valuations

It's a very popular company
On zee business , it's advertisements are regular

Company is coming with the IPO in October, could have shown/declared Q1 results to allay concerns and fear.... or the truth is Q1 results are Not worth showing/declaring hence not mentioned?

Biggest concern how this small retail chain scale the business?

Secondly, how it will survive in the face of Dmart, BigBasket, Jio, Blinkit etc etc.

To sucked in retail investors company has roped in Vallabh Bhansali who is a famous name but does Not have a single multi-bagger to his name or even a decent networth. God knows what deal promoter/company struck with him.

Recently renowned shady and crook investor and media darling Shankar Sharma sucked in and sunk many poor retail investors in some shady, dodgy small-cap called Brightcom.... both are facing SEBI investigation and hunter now.

Most of the companies came up it IPO on the basis of March 23 numbers, this company came up on the basis of 5M FY24, which is giving almost true picture of company’s H1 performance, that implies good corporate governance.

Since the company’s target geography is interior areas of a state, so growing the business of retail chain is not a big concern moreover company is doing revenue of 180 crores from 55 stores only and the potential to add new stores are immense. since opening up new small size retail stores are not very capital intensive.

The players like Dmart and Jio operates in Large Format Stores which are like 20,000 sqft plus and players like Blinkit and Big basket works on dark store model and mainly into online. Here On Door works in Small Format stores and more 70% of their revenue is coming from offline. So it’s futile to compare these players with On Door.
The best part of On Door is that it’s a debt free company. So any operating profit the company will earn it will directly goes to PBT and debt free companies always do well markets.

Apart from Vallabh Bhansali, the company has Anicut Capital as their share holder which is a 3,000+ crore fund and has some amazing success stories, and other marquee share holders such as Duane Park, Thappar Group, Beeline Impex, Antique Stock Broking, etc. These investors must have done their homework before investing in this company.

LOL.

One can understands if a company operating retail chain in Gujarat, Maharashtra coming up for IPO but now even retail chain situated in Madhya Pradesh will also dare so??

You got to love the beauty of bull market, no??

Who will apply in the IPO of retail chain store in the era of Dmart, blinkit, Bigbasket, Reliance, JioMart etc etc??

AVOID.

We should talk about financials but not about in a state specific. If you think that financials are not good you avoid it but,
We should not say how somebod can dare if they belong to some XYZ state. This is not good.

COOKED UP

Ye hai kya? Not worth discussing 😂

यह तो d Mart का भी बात निकाल। इसमें क्या ऐसा है कि हम इतने महंगे issue में पैसा लगाइए।

Just see the audacity of company and promoters and even lead managers, just one fiscal (2023) of "performance" (if it is legit) and they are coming up with IPOs.!! NO hesitation, NO fear.... promoters just have 38% holding/skin in the game....

Anyway, I have a few contacts in Bhopal, I will talk to them, find the truth and reality of this company and post the ground feedback here.

Be very cautious while applying in SME IPOs these days.... many fly by night operators coming.

Just was dreaming of getting allotment in IRM and Protean and then read this page

Saara mood kharab kar diya

The company is maybe charging the premium of its upcoming financials of 2024
But still issue appears very Expensive

Aur agar future me growth aani hi he toh future me hi IPO late .

This company is from my hometown ,Bhopal. I went to school with promoters(BAPNA'S) children. Most of their outlets were on the verge of closing but covid saved them for a while. But after Covid ended,most of their outlets have closed as per my knowledge. Will try to find out more and get back to you guys.

First look first overseas and avoid first.

What a great expectation of promoters from the investors. They think that with such a financials they can come at such a premium. Just see the equity holding before and after the issue. PAT difficult to digest.
Even best shares of DMART was not charging such a premium. Not to write about earlier MARTS.
Adani Wilmer with such great products came at 230. No doubt both the companies can't be compared. Even both the promoters can't be compared. Better to wait and watch. Investors are crazy but need tobe thoughtful also.

I think the numbers are from the DRHP, RHP is not yet uploaded, lets wait for it to be updated. As per the newspaper advertisement i have seen, there are few changes in the RHP vis a vis DRHP and marquee investor like Vallabh Bhansali of Enam Capital invested in Pre-IPO round to acquire 5.00% stake in the company.