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Quess Corp Ltd IPO Message Board (Page 36)

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24. Sunder |   Link |  Bookmark | June 23, 2016 12:26:22 PM
Egale Eye / Septa / RKS / Secondary market enthusiasts,

Expert view on ALPHAGEO INDIA LTD is requested.

This company has a total sales less than 70 crores till now (not crossed 100 c mark) profitable, dividend paying company. Recently has received 1480 crores orders from ONGC to be executed in 3 years. FY16 margin is @ 10% (which is least in last couple of years).

Does company have huge order execution capabilities ? if no, then why would ONGC award such a huge single contract. Apart from this, they have few more orders up their sleeve.

Question : Can we look at this stock for 2-3 year horizon ??
24.1. Septa |   Link |  Bookmark | June 23, 2016 12:40:18 PM (4000+ Posts, 4600+ Likes)
it is market leader so it is the largest onshore integrated seismic service provider in the private sector and enjoys a market leadership in seismic survey so capacity and capability both big tick.... Just surprised by the amount 1480 crs. Short term the stock will react to such news at it jumped 50% from 500 level to 750 level. one could buy on dips given the big order however i should also take the fact this will be one time order or should i say life time order so valuation we should discount this fact... I will keep in my watch list will only entry on dips
24.2. Sunder |   Link |  Bookmark | June 23, 2016 12:40:44 PM
ALPHAGEO has already jumped from 484 to 750-800 levels since June 3, 2016.
23. Khemka |   Link |  Bookmark | June 23, 2016 12:16:12 PM (1000+ Posts, 400+ Likes)
Qib 180 times , Hni 300 times , retailers 15 times , oversubscribed most likely
22. revathy |   Link |  Bookmark | June 23, 2016 12:03:53 PM
thanks Septa ji. Then how many lots per application should one apply for , inorder to ensure a higher probability of success.
22.1. Septa |   Link |  Bookmark | June 23, 2016 12:12:34 PM (4000+ Posts, 4600+ Likes)
single lot is the best option
21. Septa |   Link |  Bookmark | June 23, 2016 11:56:02 AM (4000+ Posts, 4600+ Likes)
I have kept very conservative growth at 30% when the company has grown in excess of 60% last 5 years i get a fair vale of Rs 675 margin of safety at 25% this stock is better league and valuation compare to team lease IMO one should apply for short term gain given the huge demand Fiis and Diis will lap this up in no time given very small float of shares. However getting allotment will be hard given the issue size and demand only lucky few will get allotment. I will buy this on dips. apply and best of luck and eagleye big thanking for providing the numbers
Initial Cash Flow:      $96,61,00,000                   
                        
Years:      1-5      6-10            
Growth Rate:      60%      40%            
                        
Terminal Growth Rate:      5%            Discount Rate:      10%
                        
Shares Outstanding:      12,59,53,353             Margin of Safety:      25%
Debt Level:                        
                        
Year      Flows      Growth      Value      
1      1,25,59,30,000       30%      $1,14,17,54,545       
2      1,63,27,09,000       30%      $1,34,93,46,281       
3      2,12,25,21,700       30%      $1,59,46,81,968       
4      2,75,92,78,210       30%      $1,88,46,24,145       
5      3,58,70,61,673       30%      $2,22,72,83,080       
6      4,48,38,27,091       25%      $2,53,10,03,500       
7      5,60,47,83,864       25%      $2,87,61,40,341       
8      7,00,59,79,830       25%      $3,26,83,41,296       
9      8,75,74,74,788       25%      $3,71,40,24,200       
10      10,94,68,43,484       25%      $4,22,04,82,046       
                        
                        
Terminal Year      $11,49,41,85,659                   
                        
PV of Year 1-10 Cash Flows:                  $24,80,76,81,403       
                        
Terminal Value:                  $88,63,01,22,964       
                        
Total PV of Cash Flows:                  $1,13,43,78,04,366       
                        
Number of Shares:                  12,59,53,353       
                        
Intrinsic Value (IV):                  $900.63       
                        
Margin of Safety IV:                  $675.48       
                        
What Percentage of IV comes from                   78%      
the Terminal Value:                        
20. Sunder |   Link |  Bookmark | June 23, 2016 11:53:27 AM
Egale Eye / Septa :

If 28000 application lead to one time subscription. How many times do we expect in Retail Category considering MGL refund money would be available for Quess investment ??

In MGL 2,40,000 apps leads to one time subscription, going by this logic, we may have to see double digit subscription in Quess ??

Any view ??
20.4. KSC |   Link |  Bookmark | June 23, 2016 12:10:32 PM
Septaji 25 mese 1 ko quess ka share milega
20.5. Septa |   Link |  Bookmark | June 23, 2016 12:22:42 PM (4000+ Posts, 4600+ Likes)
KSC could be high chance of happening
19. GAURANG SHAH |   Link |  Bookmark | June 23, 2016 10:57:45 AM
kya karna chahiye???? sell ke form bharna chahiye?/???
18. revathy |   Link |  Bookmark | June 23, 2016 10:54:03 AM
looks like everyone is busy with MGL IPO and forgot update the information on this page. Well the price band announced yesterday - Rs. 310- 317 .
17. MahiMahi |   Link |  Bookmark | June 23, 2016 10:23:12 AM
how much it will list?
16. Mukesh Modi |   Link |  Bookmark | June 23, 2016 9:17:09 AM
www.ipoinformationport.blogspot.in/
15. KAIVAN |   Link |  Bookmark | June 23, 2016 8:55:10 AM
Form ketla ma sale karay???
15.1. MANISH MATHUKIYA |   Link |  Bookmark | June 23, 2016 10:41:26 AM
Rs.450/= to Rs.500/=
14. Eagleye |   Link |  Bookmark | June 23, 2016 8:39:23 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Quess Corp IPO

Breakup of the Issue

Anchor 56,78,233 Shares

QIB 37,85,489 Shares

NII 18,92,745 Shares

RII 12,61,830 Shares (28,041 application forms)

TOTAL 1,26,18,297 Shares
13. Eagleye |   Link |  Bookmark | June 23, 2016 8:31:34 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Quess Corp IPO

Equity Shares o/s prior to IPO      113,335,056
Fresh Issue      12,618,297
Equity Shares o/s after IPO      125,953,353



Septa Sir, is this the information you wanted ?
13.1. Septa |   Link |  Bookmark | June 23, 2016 9:56:55 AM (4000+ Posts, 4600+ Likes)
Yes thank
12. Eagleye |   Link |  Bookmark | June 23, 2016 12:47:27 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
IPO Pipeline status as of 17th June 2016



IPOs in Pipeline (SEBI Approval received)

DRHP      SEBI      Name
Date      Approval      

12-Apr-16      20-May-16      Larsen & Toubro Infotech
25-Feb-16      19-May-16      HPL Electric & Power
18-Jan-16      29-Apr-16      Advanced Enzyme Technologies
28-Dec-15      15-Apr-16      S.P Apparels
21-Dec-15      05-Apr-16      K.P.R.Agrochem
01-Feb-16      10-Mar-16      Dilip Buildcon
23-Dec-15      22-Feb-16      Nihilent Technologies
30-Nov-15      08-Feb-16      New Delhi Centre for Sight



IPOs in Pipeline (SEBI approval received more than 5 months ago – Hence, doubtful it will come)

DRHP      SEBI      Name
Date      Approval      

30-Sep-15      18-Jan-16      GVR Infra Projects
30-Sep-15      18-Jan-16      Maini Precision Products
26-Sep-15      08-Jan-16      GNA Axles
23-Sep-15      05-Jan-16      VLCC Health Care
28-Sep-15      28-Dec-15      Sandhar Technologies
16-Aug-15      22-Dec-15      Matrimony.com
09-Jul-15      08-Dec-15      Paranjape Schemes (Construction)
16-Mar-15      08-Dec-15      SSIPL Retail



IPOs in Pipeline (SEBI Approval Pending)

DRHP      SEBI      Name
Date      Approval      

30-Mar-16      Pending      CL Educate
29-Mar-16      Pending      Hinduja Leyland Finance
28-Mar-16      Pending      Seaways Shipping and Logistics
23-Jun-15      Pending      RBL Bank
12.1. Venturer |   Link |  Bookmark | June 23, 2016 1:43:51 AM
So I think it''s better to sell n apply
11. Eagleye |   Link |  Bookmark | June 23, 2016 12:24:40 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Comparative data for Financial Year 2015 - 2016:

Quess Corp Limited
Fair Value ??? (Calling all experts to give their opinion)
Basic EPS 7.82
Diluted EPS 7.67
RONW 25.62%
NAV 30.52

TeamLease Services Limited
CMP (22June) 920/-
Basic EPS 15.92
Diluted EPS 15.92
RONW 7.96%
NAV 182.24
11.1. Septa |   Link |  Bookmark | June 23, 2016 4:02:02 AM (4000+ Posts, 4600+ Likes)
Just peer to peer Quess corp fair value is Rs 460 however RONW is very superior so market may give this a better PE or team lease will get a downgrade... Eagleye give the total number of shares outstanding after the issue and NP will calculated DCF value. one more important thing to note is quess CAGR is 60%and Teamlease is 25%.
11.2. Eagleye |   Link |  Bookmark | June 23, 2016 9:22:14 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Equity Shares o/s prior to IPO 113,335,056
Fresh Issue 12,618,297
Equity Shares o/s after IPO 125,953,353
10. Eagleye |   Link |  Bookmark | June 23, 2016 12:15:43 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
QUESS CORP LIMITED
(Refer Page No 457 of RHP dated 20th June 2016)

28/Jun/16 – Participation by Anchor Investors
29/Jun/16 – Bid/Offer Opening Date
01/July/16 – Bid/Offer Closing Date
07/July/16 – Finalisation of Basis of Allotment
08/July/16 – Unblocking of Funds from ASBA Account
11/July/16 – Credit of Equity Shares to Demat Account
12/July/16 – Commencement of Trading on NSE/BSE
10.1. PRAMOD DAS |   Link |  Bookmark | July 6, 2016 3:02:10 PM
R u sure ?
9. Arjun Patel |   Link |  Bookmark | June 23, 2016 12:01:06 AM
Quess Financial
EPS Fy 16 Rs. 7.9
PE 40 Multiple @317
Nav Rs. 31
ROE 23%

Teamlease Financial
EPS Rs. 15.9 Fy16
PE 58 Multiple @ 920
Nav Rs. 180

Looking on PE basis Valuation Rs.452/- Quess value At par with Team.

Source RHP

8. Eagleye |   Link |  Bookmark | June 22, 2016 11:48:15 PM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Quess Corp IPO

GMP 155 - 158 (low volumes)
Kostak 400
7. Septa |   Link |  Bookmark | June 22, 2016 10:57:16 PM (4000+ Posts, 4600+ Likes)
compare to team lease this company operation is far more robust and high end white collar job compare to team lease blue collar market. However on margin front it show is same however if u look at EBIT level the margin is 250% better then TEamlease so what this means is it is spend a lot on new or inorganic growth which is costing them so long run this will change. management is aiming at 8% margin by 2018 which will do wonders to bottomline. so in lame man term with To of over a billion 8% margin is 80 million dollars at Rs 65 given a NP on 500 Crs so even at conservative 20 PE it will command a market cap on Rs10000 crs with this issue at 321 it puts it MC around 4000 Crs for a 70 crs NP give a present PE of 56...

second is 6500 crs TO possible IMO it is possible given the present market as a whole is around 10 billion so Quess should target 10% market which IMO is possible.

I will apply this IPO both fundamental also it will be good technical play given small size issue so chance of allotment will be very less 1 in 15 types so if u have just one or two application better to sell in Grey market given the possibility is very less for allotment

Just a side note LMW and kitex garments is looking good given change in government policy
6. VINOD JAIN NICKY |   Link |  Bookmark | June 22, 2016 9:26:32 PM
I THINK THAT THIS QUESS IS SOMETHING LIKE TEAMLEASE ISSUE.HERE IS ALSO ONLY 10% QUOTA FOR RETAIL BIDDERS.BUT GMP IS VERY HIGH.WE ARE RESERVED FOR ONLY RS.40 CRORES.IT MEANS MAXIMUM 27000 BIDDERS WILL BE LUCKY TO GET ALLOTEMENTS. EAGLEYEMAM PLEASE COMMENTS AND SUGGESTS.
6.2. Eagleye |   Link |  Bookmark | June 23, 2016 8:43:33 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Total Shares available for RII category = 12,61,830 Shares
Lot size = 45 Share
Therefore, 1261830 / 45 = 28,041 application forms
6.3. VINOD JAIN NICKY |   Link |  Bookmark | June 23, 2016 10:47:17 PM
EAGLE EYE MAM, THANKS FOR YOUR ACCURATE AND USEFUL REPLY TO TAKE FURTHER DECISION IN THE MATTER.
5. Nanak |   Link |  Bookmark | June 22, 2016 8:39:51 PM
What isDifference of allotment chances between two person 1st. Who apply with full application 2nd. Who apply for 2 or 3 lor. By new rules of sebi