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Crow IPO Review

Read IPO recommendations, analysis, and views posted Crow. Check Crow messages on IPO discussion forum.

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IPO Reviews by Crow Top Contributor Top Contributor (300+ Posts, 200+ Likes)

IPO Review
Adani Enterprises Limited FPO

Avoid

All the Hindenburg Report did was make the fraud obvious. I would have gladly applied if the CMP was even 20% above the asking price. With the potential of back to back LCs, I'd rather put my money on the overall market which is dipping. Pfizer, Nestle, and LT are my alternatives to this FPO. Skipping completely.

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Jan 30, 2023 3:22:38 PM
Sah Polymers Limited IPO

Neutral

Tiny company and tiny issue. Will require special industry knowledge and skills to audit this IPO, but with whatever information is available right now with RHP and the fact of 10% retail quota, I'll wait for 3rd day subscriptions to decide. Anything above 10x QIB is a green signal. Thanks.

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Dec 26, 2022 2:01:14 PM
Radiant Cash Management Services Limited IPO

Avoid

The volatile market aside, I don't see any enterprising factor in Radiant Cash Management or its industry. This is a small issue with 85% OFS, coming at a higher valuation than peers and not inspiring any confidence in the grey market (zero GMP). Having avoided burning my fingers in AGS Transact (Jan 2022) that is languishing as a potential penny stock (CMP 60) whose IPO price was 175, I will be shunning Radiant Cash IPO. Thanks.

Dec 26, 2022 1:56:30 PM
Elin Electronics Limited IPO

Neutral

Small company, small issue, and therefore inconsequential listing expected. But the sector is booming as manufacturers look to outsource everything to make themselves asset-light. Might get 5% listing if QIB crosses 3x. Will try for 1 retail lot on 3rd day if overall subs is 2X+. GMP is invisible so exit strategy need to be strong.

Dec 21, 2022 2:27:36 PM
KFin Technologies Limited IPO

Avoid

No fancy and nothing great in this IPO except for the decent valuations. As someone who doesn't touch fintech companies even with a poll, I'll skip.

Dec 21, 2022 2:16:34 PM
Landmark Cars Limited IPO

Avoid

Nothing to look here.

Dec 14, 2022 1:44:42 PM
Sula Vineyards Limited IPO

Neutral

Some fancy is there so will apply for 1 retail lot if QIB crosses 3X. Thanks.

Dec 14, 2022 1:46:30 PM
Abans Holdings Limited IPO

Avoid

60% retail quota is enough to tell me that this is the riskiest bet in recent IPO memory. Not participating for this shady company that does not disclose most of what it does.

Dec 14, 2022 1:29:04 PM
Uniparts India Limited IPO

Subscribe for Listing Gain at Cut-off Price

This is an IPO that is just timed and structured right. With Nifty at an ATH and good financials, Uniparts IPO will give decent listing gains. Longterm prospects are doubtful as it's what I like to call an inconsequential company.

Nov 30, 2022 11:45:57 AM
Dharmaj Crop Guard Limited IPO

Subscribe for Listing Gain at Cut-off Price

Small company, small issue, decent valuations, and excellent prospects - a great contender for listing gains in the buoyant market. Apply with FF but keep GMP in check.

Nov 28, 2022 11:05:01 AM
Inox Green Energy Services Limited IPO

Avoid

The only saving grace is that retail quota is just 10% so I don't see much downward trend on listing but it'll be flat. The future prospect of green, windmill energy is a highlight but that doesn't justify the promotor holding going down from 94% to 56%. For this very reason, I'll be skipping this loss-making future laggard. Thanks.

Nov 15, 2022 1:18:38 PM
Kaynes Technology India Ltd IPO

Subscribe for Listing Gain at Cut-off Price

Decent business and decent issue. The only problem is the high asking price, but looking at the GMP and subscription figures, I suggest taking some risk. But exit on listing either way.

Nov 14, 2022 12:59:14 PM
Archean Chemical Industries Limited IPO

Subscribe for Long Term at Cut-off Price

A rare, all-star IPO with no major red flags. The low GMP is not a cause to worry as this is a longterm candidate. Apply with FF.

Nov 10, 2022 12:38:07 PM
Five Star Business Finance Ltd IPO

Avoid

Microfinance lending is not an encouraging business for me like the recent issue of Fusion Micro. The business model looks good and the asking price here is good enough but I doubt there will be any listing gain for 35% retailers. Wait for QIB to cross 3x and apply with risk.

Nov 11, 2022 12:37:23 PM
Global Health Limited IPO

Subscribe for Listing Gain at Cut-off Price

Barring poor GMP (12), high OFS (1700 cr), and low post-IPO promoter holding (33), I see some potential in this hospital stock. Hospitals have been usually well-received by the markets, plus the decent subscription levels tell me this may be a good bet even for longterm. Taking the gamble. 5 red flags out of 13.

Nov 7, 2022 1:49:03 PM
Bikaji Foods International Limited IPO

Subscribe for Long Term at Cut-off Price

FMCG stocks are my darling. Applying with full force despite low GMP (33) and high asking price (PE is 92+).

Nov 7, 2022 1:51:57 PM
Fusion Micro Finance Limited IPO

Neutral

Microfinance for a niche consumer base looks good on paper but is hardly a profitable business, especially in a complex country like India with its skewed demographic census. But finance firms have historically been the markets' darlings, so it's possible this may give a listing pop. How you traverse that is a question in itself. May apply based on last day's QIB subscription figures and GMP sustenance.

Nov 2, 2022 2:20:20 PM
DCX Systems Limited IPO

Subscribe for Listing Gain at Cut-off Price

Applying to this is a no-brainer. A leading electronic component manufacturer with intl market? Hell, sign me up. Allotment is unlikely, so apply if you have funds after considering Bikaji and Medanta IPOs.

Nov 2, 2022 2:21:52 PM
Tracxn Technologies Limited IPO

Avoid

It's rare to see a company with so many negatives and no redeeming quality raising funds with no specific ambition and only to enable PE investors exit. Other than the 75% QIB quota (which if oversubscribed could signal a 5-10% listing gain for the courageous to participate should Nifty stay at 17k), Tracxn unsurprisingly has no single positive thing in its offer. I'll be skipping this in retail as it's anyway 2x subscribed.

9 red flags out of 10. Avoid but keep crowing!

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Oct 11, 2022 11:07:33 AM
Electronics Mart India Limited IPO

Subscribe for Listing Gain at Cut-off Price

Concentration in south India and the probability of losing the "Bajaj' trademark make me cautious about Electronics Mart India (EMI) and its future. But it's one of the rare IPOs which has zero red flags in terms of valuation, growth history, IPO structure (no OFS). The overall positive sentiment within and outside Chittorgarh will work wonders for this, which is partly evident in the GMP and first day subscription fig.

0/11 red flags. I'm applying to gain 1 retail lot. Thanks and keep crowing!

Oct 5, 2022 3:13:53 PM
Harsha Engineers International Ltd IPO

Subscribe for Listing Gain at Cut-off Price

Market leader in a profitable sector and overall positive sentiment around this IPO. No red flags so far.

Sep 15, 2022 1:32:58 PM
Dreamfolks Services Limited IPO

Subscribe for Listing Gain at Cut-off Price

Red flags - Low GMP of 89 as of 25 Aug 2022 (<30%), pure OFS, low face value of 2, and high valuations (PE is 105, PB is 21) make this IPO look bad.

Green flags - Market leader, luxury, non-essential business (personal favourite), thumbs up from VR and CM, and low retail allocation nullify some of the issues.

Aug 25, 2022 12:00:10 PM
Campus Activewear Limited IPO

Subscribe for Listing Gain at Cut-off Price

Largest Indian athleisure brand competing with international brands. Has decent financials but valuation is too high for short term holding. Sell on listing regardless of outcome.

Apr 27, 2022 2:51:49 PM

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