Madhya Bharat Agro Products Ltd IPO Message Board (Page 4)

First check with hdfc sec if they will allow you to sell the SME shares allotted via IPO or not. This is important as most brokers are not allowing buy/sell in SMEs.

Next you can apply to this IPO from internet banking of Kotak, axis, bob , union etc. Hdfc bank doesn''t allow online IPO application.

One more option is that you can apply to this IPO using physical application.

SBI also allowing this IPO to apply online, can I open account on axis ?

Rain out look is not good .issue will list at discount.it is pure ofs. Promoter diluting its stake why? Big question? I hate ofs.

@Eagleye
The networth is 66.68 crs as reserves includes revaluation reserves of 34 crs done in 2013-14 and the book value stands at Rs.30.27
The actual net profit for 2016 is 4.85 crs on turnover of 64.78 crs after adjusting for deferred tax credit and mat credit and this too looks inflated if we compare the profitability of the other two group companies viz. Ostwal Phoschem which did a np of 4.52 cr on turnover of 74.42 and Krishna Phoschem which did 1.38 crs on 90.12 crs.
Madhya Bharat is likely to do a turnover of 80 crs for 2017 as the present turnover includes sale of beneficted rock phosphate which they will consume nhouse due to capacity expansion in SSP and the likely profit will not be more than 7 crs. giving eps of 3.2 for 2017
As against this Shiva Global Agro listed on main platform of BSE is having a consolidated net profit of Rs 5.16 crs on equity of 9.54 crs and available at 27-28 and is in SSP fertilizer and also Seeds.
As to Shree Pushkar Chemical only 15% turnover comes fromfertilizer and rest from Dyes which is more profitable and gets better valuations in the market then fertilizer stocks. GSFC is available at a PE of 8 on main exchanges of bse and nse.
bests

Some listing gains will/can be there though but long term prospects look not too bright.

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