Syncom Healthcare Limited IPO Message Board (Page 4)

Ya Aqua Logistic and Syncom both issue r on the strong hands of Ahmedabd Operator.Confirm News.

Total sub = 5.5

SYNCOM IS A TOTALLY FRAUDULENT ISSUE. THEY HAVE ALREADY A COMPANY NAMED SYNCOM FORMULATION(BSE CODE 524470) HAVING MARKET PRICE OF JUST RS. 24.50 HAVING AVG PRICE FOR LAST 5 YR IS RS 20 ONLY. NO DISCLOSURE OF THIS COMPANY BY PRESENT ISSUER WHILE THEY ARE RELATIVE AND BOTH OF COMPANY ARE SITUATED IN SAME LOCATION INDORE/MUMBAI AND HAVING PROMOTER Bankda FAMILY SAME JOB. LISTED COMPANY HAVE BAGGED THEIR IPO IN
2005 - Company had allotted 2.65lakh fully paid-up equity shares of Rs 10 each at a premium of Rs 80 per share on the preferential basis.

AND AFTER THAT IT WILL NEVER SEEN IPO PRICE. CMP 24.
AND WE FOOL PEOPLE ARE DEYING ON THIS TYPE OF ISSUE WITHOUT LOOKING HISTORY AND DISCLOSURE OF PROMOTER.

LAST FINALLY RETAIL SUB ?

syncom sub.. till 4 p.m
Total Issue Size 7500000
Total Bids Received 28255590
Total Bids Received at Cut-off Price 9046350
No. of times issue is subscribed 3.77

dont let it go

else u will repent

apply apply

Gud IPO.... apply with full application...

will definitely give tremendous returns...

What are current Grey Market Prices for IPOs closing today?

AVOID AVOID.... strictly avoid...

what is minimum amt of syncom issue and max.amt ?

Only this issue is traded in Grey market.

apply in aqua logistics and syncom healthcare....

Syncom looks reasonable issue. smallcap issue, easiely can be manipulated.. high risk punters Apply for listing ganis.

Highest CM Rating - 25 for this Issue. Just Dont think of applying in this issue.

Syncom Healthcare — IPO: Avoid








Srividhya Sivakumar


Investments can be avoided in the initial public offering of Syncom Healthcare, which is engaged in the manufacturing and marketing of pharmaceutical formulations in the domestic market. At the price band of Rs 65-75, the offer is priced at 23-26 times its likely FY10 per share earnings on a post offer equity base. This seems expensive considering that many of the top tier pharmaceutical companies with better business fundamentals, market reach and growth potential are available at much lower valuations. The company's presence in a highly competitive market and it's relatively low experience in manufacturing operations also necessitate a cautious outlook .

Company overview

Catering primarily to the domestic market, Syncom manufactures and markets pharmaceutical formulation under its own brand name in four product segments — generics, OTC (over the counter), ethical and herbal. The company also undertakes contract manufacturing for various pharmaceutical formulations, neutraceutical products, food supplements and cosmetics for domestic companies such as Lupin and Piramal Healthcare. Further, it recently added other companies such as Wockhardt, Klar Sehen and Canixa Sciences to its existing list of contract manufacturing companies.

Prospects, challenges

Though the growth undercurrents in the domestic formulation business are getting stronger, the presence and increasing focus of bigger players on the domestic market may make it doubly challenging for Syncom to chart its growth path; the bigger players cater to a chunk of the market already. The rest of the market is characterised by many small and unorganised players.

It will be Syncom's distribution reach, brand presence and product launches that would help it scale growth in future. While the company has scored decently on these counts so far, growing its revenues at a compounded rate of over 42 per cent in the two years after it set up a manufacturing facility in Dehradun, it was on a low base and driven by volume increase. High competitive pressure and price sensitivity of the domestic market appears to have kept realisations capped, suggesting this could very well be the way forward too.

The company derives a significant share of its revenues from too few a clients; the top ten made up over 69 per cent of its revenues last fiscal. While this per seisn't reason enough for concern — such high dependence is quite common among companies with smaller scales of operation — what may be discomfiting is its working capital management.

High dependence on a handful of clients and little bargaining power appear to have strained the company's cash flows, with its working capital cycle increasing to 198 days in FY09 from 153 seen a year earlier — over 57 per cent of the total debtors exceeded six months. While an extended credit cycle to some extent is typical of the OTC segment, the company's revenue exposure to the segment was just about 24 per cent in the last fiscal.

Ha yar Such me funny result hi he if we analyse it,then it is not match with % terms of sale and ptofit.

NOw registrar has come . see the result. how funny.

9.SABHYASACHI Dear Vascon ke BRLM DSP nahi Enam he.

VASCON IS COMING UP WITH IPO...DSP AND KOTAK ARE ITS LEAD BANKERS...A COMPANY WITH ALMOST 2.5 DECADE EXISTENCE...WHTS THE PROSPECT

now please stop talking about premium of IPO as analysis are talking about 4000 to 4200 NIFTY soon