Presstonic Engineering Limited IPO Message Board (Page 8)

Will the refund from here be available for DOMS ? Before 5 pm on 15th ?

I want to apply 4 retail from 4 accounts here, and then 4 SHNI from refund... Now if I don't get refund in time 4 SHNI will be in jeopardy. I don't want to take 1% risk. DOMS is must apply IPO, SME is for Super lucky only. So better to skip this one @Basuvr . Isn't it ?

​@Jay Vagheshwari Maa Consider yourself to be included in that Super Lucky group as well, and with that positivity you can apply here. Cameo registrar has good credibility in recent issues to give Allotment and refund as per time. Only if banks function otherwise, the thought of risk materialises. But on the same due to this risk, skipping issue entirely is inherently losing on opportunity gains imo. Give it a thought once !!

PRESSTONIC ENGINEERING CLIENTS

PLACED 7 LOTS , one application
let me know if any one has joined on same lots

sir shayad apne wrong group me post kar diya ?

I'm thinking about 5 lots sir but I'll wait for last day if there is small amount of subscription then I'll go for 7 lots with you and also need few people to join us.

If anyone applies FF here and then he will have to miss out on both Accent and SJ. I doubt many would take that chance of missing both IPOs for one.

Who all are skipping SJ, Accent and applying here?
Me +1

​@rohiitian Also, we need to consider that this is fixed price issue...if Retail > HNI then few HNI apps will be transferred to retail...
I don't think that would be the case but still we need to keep it in mind and not only follow HNI numbers

​@kishenharendra  I think that's a fair estimate. At one extreme, 20x HNI at end of Day 2 was seen with AMIC (which ended at 600x), but most others which end at 400x + were atleast 35x-150x at end of Day 2. I think 200-250x is a fair estimate.

I will be applying 3x35 lots here, please do join if you have the right amount of capital.

HOS S2 30K / buyer 28

LM/MM with a mixed bag track record. Last issue has given almost 3X return however some of the previous issues are currently below IPO price.
Company makes metro train accessories like seats, grab pole, multi color seat handle, cable assembly tray etc. Basically it is a sheet metal processing company. However current fancy of Infra + Railway theme may give it a temporary boost.
Company website shows it has 10 govt ad 10 private sector clients whereas for H1FY24, 99% of business is from 5 customers. So what kind of business dealings it has done with the remaining 15 customers?
For H1FY24, top 5 customers gave 99% of sales while 5 suppliers are 56% of material consumed.
Material cost as % of sales is 43% of sales in H1FY24 and 42% of sales in 22-23.
Based on working capital projects, company is targeting sales of Rs 35 cr in 23-24 and Rs 50 cr in 24-25. Company has orders on hand for Rs 68 cr.
Company disclosed it had 36 employees as on 30-Nov-23. It deposited PF for 39 employees for Oct-23 and 33 employees for Oct-22. For 22-23, company on average delayed PF deposit by 180 days. Comparing list of PF deposited employees for Oct-21 and Oct-23 reveals that around 50% of employees of Oct-21 have left company by Oct-23, giving attrition rate of 25% per year.
Sales mix for H1FY24 is 50% each for government and private sector. For 22-23, it was 40% government sales and 60% private sector. The private sector could well be the companies making coaches for various metro projects.
Karnataka, West Bengal, AP and Gujarat states contributed majorly to the sales in 22-23 and H1FY24. Surprisingly Delhi metro which is the largest metro network is not in the top client list.
Decent cash flow. PBT for 3 ½ years ending Sep-23 was Rs 5.6 cr while CFOB4T was Rs 14.8 cr. The cash generated has been used to pay off long term and short term debt and for interest payments.
Appears to be a fully managed issue. IPO expense of Rs 3.25 cr are 14% of the issue size. Out of the Issue expense of Rs 3.25 cr, Rs 2.75 cr is being spent on advertising and marketing. Company has not held any roadshow meeting , analyst & broker meeting either physical or virtual and there is no advertisement on TV, print media, social media etc. So wonder where is this money going? IPO advtg and mktg cost comes to approx. Rs 8 per share, based on issue size.
Company has capital work in progress of Rs 4 cr, which is continuously increasing since 20-21. Not additional details of what is the project, whether it is related to the patents for which company has applied of something else. Not sure why company has not been able to complete the project in 3.5 years and whether the project is still relevant. A write off will wipe off the profits of 1 year.
As on 30-sep-23, company had debtors of Rs 5.6 cr of which around Rs 1.1 cr was overdue for more than 1 year. Due to government business, while money may be secure but collection could take extra long time.
Company intends to use the IPO proceeds for buy machinery of Rs 2.3 cr, repay debt of Rs 5 cr and for working capital and general corporate use
Other expenses include Rs 2.7 cr as job work expense for 22-23 and for H1FY24, it is Rs 2.5 cr. Hopefully with additional machinery, reliance on job work will reduce. Freight outward which was Rs 5.6 lacs for 22-23 has jumped to Rs 28 lacs for H1FY24.
Capacity utilisation was 56% for coach seats, 15% for cable tray and 34% for grab pole.
Borrowings of the company carry interest rate of 7.5% to 11.45%. Rs 5 cr debt proposed to be paid off carries 10% interest rate.
Promoters have a debit balance of Rs 60 lacs i.e. amount to be paid by promoter to the company. This is outstanding for last 3.5 years.

​@Sharvam @SME INVESTOR thanks for reply.
It means that co has spent some money on advt.
i may not apply here becos need money for mainbord ipos. refund date here is 15th, and on 15th 2 main ipo will close so dont want to take risk of unblocking

​@YBPK Thank you so much for the detailed review sir 😊

Request someone to explain the meaning of following lines as I am a novice.
" Company is spending Rs 3.25 Cr for this IPO process. The issue appears fully structured with around 14% issue expenses. "
TIA

Thanks

​@AAvi No need to analyse word to word, as that can lead to over analysis. I suggest to understand the broader context and design your approach as per that

Jodhpur Beawar Chennai

₹207/= buyer shelter
₹485/= buyer Doms
₹190/= buyer accent micro
₹30/= buyer recycling
₹27/= buyer Preston
Majboot

GMP UPDATE SME IPO
Jodhpur Beawar

Graphisads: Nil
Accent Microcell: ₹202/= (144.29%)
S J Logistics: ₹100/= (80%)
Siyaram Recycling: ₹28/= (60.87%)
Presstonic: ₹32/= (44.44%)
Shree OFSM: Nil

(As Heard from Various Brokers & GM Dealers )

HOS 20/-

Another Dark Horse like Holmarc

Promoters are diluting more than 40% of their holding😲

In Veefin, it was around 40%, still that went on 3x.

Experts, what is your view on Presstonic? Numbers look decent, yet no GMP, so it may remain under the radar and give assured allotment & profit with mid-sized lots?

Not sure if better to block money in Accent with low likelihood of allotment, vs going FF here and getting allotment with chance of listing gain.

Historically these have been good performers for me (eg. Canarys, Swasthik etc.)

​@Sanchit Jain seems u also got allotment only on those shares wherein loss happened like me. Didn't get allotment yet for any SME which opens in premium and got double or triple in next 6 months like Holmarc or Alphalogic or Arham

​@SME INVESTOR  No its a mixed bag I would say n you have the thorns with the roses.
But to be honest the SME segment is pure operator play and the declaration of good or bad results is also in the hands of the company. We need to see some more results to see how these companies eventually come out, but till then patience is the key.

BENCHMARK COMPUTER SOLUTIONS ⬇️
《 14 -18 》> FINAL DATE
LISTING DATE : 21

12.24 CR. ISSUE BSE PLATFORM ,
RETAIL : 50%
ISSUE PRICE : 66 , LOT SIZE : 2000 [ 1,32,000 ]
LM : BEELINE , MM : SPREAD X
RTA : KFIN

⬇️ 14 - 18 ⬇️

It is fixed price issue or book building issue..???

fixed price

Fixed price @72

Sector is in demand (Railways) and financials are also looking good. Although debt is on higher side and performance of LM is a mix of hit & miss.

prima facie looks decent