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Housing and Urban Development Corporation Ltd IPO Message Board (Page 121)

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15. BigggBosss |   Link |  Bookmark | March 26, 2017 2:11:53 PM
GMP is near about 50-55
15.1. Make Money |   Link |  Bookmark | March 26, 2017 2:36:07 PM
Waw...Big boss ji, 100℅ profit Abhi ho gaya to aage Kya hoga...😀😀👌👌👌👌👌👌👌
14. Eagleye |   Link |  Bookmark | March 26, 2017 1:06:50 PM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
HUDCO IPO

GMP 33.00 - 34.00
Kostak 1200-1250
14.5. jonam |   Link |  Bookmark | March 26, 2017 3:05:45 PM
Its a sell at these prices. Another L&T Technology in the making.
14.6. Eagleye |   Link |  Bookmark | March 26, 2017 5:47:23 PM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Issue Information: (Very Tentative)

Issue Opens on: ?? April 2017
Issue Closes on: ?? April 2017
Issue Type: Book Built Issue IPO
Issue Size: 20,01,90,000 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.48 – Rs.50 per Equity Share
Market Lot: 300 shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 2,00,19,00,000 Equity Shares
Offer for Sale of 20,19,00,000 Equity Shares @50/- aggregating up to Rs.1000.95 Crores
Equity Shares outstanding after the Issue = 2,00,19,00,000 Equity Shares

Category-wise Break up:
Anchor – 6,00,57,000 Shares = 300.29Crs.
Net QIB – 4,00,38,000 Shares = 200.19Crs
NII – 3,00,28,500 Shares = 150.14Crs
RII – 7,00,66,500 Shares = 350.33Crs. (Lot size: 300 = 233,555 Forms)

Total Issue – 20,19,00,000 Equity Shares = 1000.95Crs.

Subscription required for 1X
RII = 233,555 Forms
NII = 150.14 Crs

Interest cost @6%p.a. for 7days = 5.753paise for 1X


Financial Information (Basis of Valuation):

EPS for FY13-14 >>> Rs.3.67 (Page #87 of DRHP)
EPS for FY14-15 >>> Rs.3.84 (Page #87 of DRHP)
EPS for FY15-16 >>> Rs.3.87 (Page #87 of DRHP)
EPS for 6M16-17 >>> Rs.1.70 (Not Annualized) (Page #63 of DRHP)


RoNW for FY13-14 >>> 10.29% (Page #88 of DRHP)
RoNW for FY14-15 >>> 09.87% (Page #88 of DRHP)
RoNW for FY15-16 >>> 09.18% (Page #88 of DRHP)

NAV as on September 30, 2016 was Rs.43.60 (Page #89 of DRHP)

Peer Group (Page #89 of DRHP): NONE
13. jonam |   Link |  Bookmark | March 26, 2017 12:35:56 PM
HUDCO acronym for HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED is entering the capital market in April. Market participants are mistaking HUDCO as a housing finance company and comparing it with the likes of PNB Housing Finance etc. The fact is totally opposite as 89.88% of the loan book of HUDCO is to State governments and its agencies and 10.17% to private sector.
Housing Finance of total loan portfolio is 31.28% (30.34% to state govt for social housing loans, 0.40% to individuals and 0.57% to private sector companies) and 68.72% of the total loan portfolio is advanced for Urban Infrastructure like water supply projects, Roads and Transport, Power, Sewage and Drainage etc.
Average loan size for Housing finance is Rs.56.66 Crores and for Urban Infra it is Rs.54.54 Crores.
Further fixed rate borrowing constitutes 97.94% of HUDCO’s borrowings whereas it has lent 81.32% of its loans to borrowers at floating rate of interest which is a very serious mismatch in a falling interest rate scenario.
HUDCO was allowed to borrow at very attractive rate of interest via Tax free bonds till 2016 and tax free bonds constitutes 78% of HUDCO’s total borrowing. In the current budget the Central Govt has not provided this facility to HUDCO to borrow via tax free bonds and this will increase the cost of funds for HUDCO substantially.
Comparing HUDCO with REC would make one realise that the asking issue price of 50/- is very steep and fraught with huge risk for the investing public.
REC HUDCO
Equity 1975 crs 2001.9 crs
PAT annualised 6569 crs 695 crs
EPS 33.27 3.40
Market Price 173/- 50/-
Dividend (for 2016 171% 5%
Gross NPA 6.87% 2.32%
Gross NPA including
Excluded Loans 9.17% 2.32%
Net NPA 2.04% 1.68%
Net NPA including
Excluded Loans 4.46% 1.68%
Return on Equity 21.1% 8.07%
Return on Net Worth 21.13% 9.18%
Return on Asset 2.90% 1.90%
Cost to Income 3.70% 15.98%
Net Interest Margin 4.54% 4.03%
Spread 3.27% 1.86%
Book Value 170/- 42/-
P/B 1.01 1.19
Revenue CAGR 18% 4.44%
PAT CAGR 14.84% 2.26%
13.1. jonam |   Link |  Bookmark | March 26, 2017 12:48:15 PM
Sorry my bad. The NPA figures got interchanged. HUDCO has GNPA of 6.87% before Excluded loans and with Excluded loans its GNPA is 9.17% whereas NNPA is 2.04% without excluded loans and 4. 46% with excluded loans.
Compare this with REC its GNPA is 2.32% and NNPA is 1.68% only.
13.2. Atul Kumar |   Link |  Bookmark | March 26, 2017 1:23:58 PM
Agree with you
Even second trench of off loading of coal india , REC by govt was at much higher price and no money was made.money was lost in moil, NMDC and many other govt company shares.HUDCO also does not seem promising from long term in view of high equity, high npas and low eps.Govt offloads the companies when mkts are high.
12. Sampat Kumar Roy |   Link |  Bookmark | March 26, 2017 11:57:38 AM
Another big bang subscription plus listing on the cards.
11. vickyudr |   Link |  Bookmark | March 26, 2017 11:46:02 AM
To get better chances for Ipo allotment should I apply for 1 lot as retail Investor or should I apply as HNI (5 lakh).
Also please tell how to apply as hni?
11.1. manishhind |   Link |  Bookmark | March 26, 2017 2:49:50 PM
Bhai agar hni portion sirf 30 times subscribe hota hai to hi tumko 1 lot milega.
Lekin subscribe hoga 200 times isiliye ek lot ke liye 20 lakh ki jarurat padegi.
10. pipaliya paresh |   Link |  Bookmark | March 26, 2017 10:44:54 AM
Rajkot gmp 32
Aplication rate 1100
9. pipaliya paresh |   Link |  Bookmark | March 26, 2017 10:44:36 AM
Rajkot gmp 32
8. S.kadian |   Link |  Bookmark | March 26, 2017 10:37:51 AM
This will be one of the beneficiaries of govt low cost housing for low mid income.group people
7. Make Money |   Link |  Bookmark | March 26, 2017 10:17:35 AM
HUDCO ki Fair price kitni hai...
7.1. alok marwadi |   Link |  Bookmark | March 26, 2017 12:18:58 PM
good issue. peer NBCC pe 40. Hudco Share at this pe Rs 160
6. ShareView |   Link |  Bookmark | March 26, 2017 10:15:35 AM
IPO Guru IPO Guru (2300+ Posts, 3600+ Likes)
Waiting for the most valuable analysis of the GEM of this forum truely respected - SEPTA Sir
🙏👍
5. nick sharma |   Link |  Bookmark | March 26, 2017 9:47:56 AM
what would the maximum application rate for this IPO.
4. DSR |   Link |  Bookmark | March 26, 2017 9:02:33 AM
What is the schedule for HUDCO IPO?
3. MUDIT NATANI |   Link |  Bookmark | March 25, 2017 9:59:45 PM
HUDCO IPO
GMP 32-33
Kostak 1200-1300
Trading actively
3.2. sunhun |   Link |  Bookmark | March 26, 2017 11:15:11 AM
I want to buy ,any offer
3.3. S Maheshwari |   Link |  Bookmark | March 26, 2017 1:24:54 PM
Are you buy IPO applications
2. gravitaparol |   Link |  Bookmark | March 25, 2017 9:41:12 PM
hudco:
CARE AAA      Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk
1. gravitaparol |   Link |  Bookmark | March 25, 2017 9:32:03 PM
hudco
there is no latest rhp.

NPA:10% of revenue.
last year decrease NPA..(2016)
EPS:0.80 (31-12-2016).