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Sandhar Technologies Limited IPO Message Board (Page 17)

R R Patel
29. R R Patel  Mar 18, 2018 15:49 I Like It. 15 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 3100+ Likes)
Sandhar Technology Ltd. IPO schedule:
16 March- Anchor allocation
19 March – Offer Opens
21 March – Offer Closes
26 March – Finalisation of Basis of Allotment
27 March – Unblocking of ASBA
28 March – Credit to Demat Accounts
02 April – Listing on NSE & BSE

Total issue size Rs.514.72 crores @ upper price band (Fresh issue of Rs.300 crores and an offer for sale of 64 lakh shares by GTI Capital Beta Pvt. Ltd.)

Face Value - Rs.10 per share
Price band - Rs.32 - 332 per share
Lot size - 45 shares

Incorporated in October 1987, Sandhar commenced operations as a supplier to Hero for sheet metal components. Growing over the last 30 years, Sandhar has incurred investments to the tune of Rs 650 crore in the past 5 years towards acquisition of advanced technologies.

It also has some debts that have to be repaid with the funds raised through the IPO. The Rs 300-crore funds coming in will clear long-term debt of Rs 225 crore. Such repayment will help in reducing outstanding indebtedness and debt servicing costs, and enable utilization of our internal accruals for further investment in our growth strategies.

The IPO, while giving an exit option to private equity investor GTI Capital Beta (cost of shares @Rs.84), also dilutes the promoters’ stake in the company while company promoter mr. Daver not selling his stake. Pre-issue, the promoters share at 82.5% and post-issue, it will be 70.1%.

The company manufactures 21 categories of products, including safety and security systems such as lock assemblies, mirror assemblies, operator cabins for off-highway vehicles, aluminium spools, spindles, and hubs.

It has 31 manufacturing facilities across eight states in India, two manufacturing facilities in Spain, and one plant in Mexico. It also has an overseas assembly and packaging centre located in Poland.

Basic EPS & RoNW on consolidated basis:
2015 - Rs.7.52 - 14.77%
2016 - Rs.6.54 - 12.23%
2017 - Rs.7.66 - 13.01%
2018(HY) - Rs.6.69 - 10.35% not annualised.
NAV as on Sep.30, 2017 is Rs.64.55 per share.

@332 Market Cap is Rs.1998.33 crores.

Equity shares outstanding prior to the offer are 5,11,54,564 shares.
Equity shares outstanding after the offer are 6,01,90,708 shares.
Offer for sale of equity shares 64 lakh.

Category wise breakup:

QIB (50%): Rs.256.18 crores i.e. total 77,16,347 shares out of which 46,30,842 shares allocated to 21 Anchor investors including 15 schemes of 9 mutual fund houses and remaining 30,85,505 shares (Rs.102.44 crores) will be available for bids by QIB.

HNI/NII (15%): 23,36,147 shares amounting to Rs.77.56 crores.

Retail (35%): Rs.180.97 crores i.e. 54,51,009 shares so only 1,21,133 lots available for allotment in retail category.

Subscription required for 1X :-
QIB - Rs.102.44 crores.
HNI - Rs.7.56 crores.
Retail - 1,21,133 forms/lots only.

Interest cost for HNI for 1X @6% for 7 days
38 paise for 1X that means Rs.0.38 per share on applied shares. If we assume 300X HNI subscription than interest cost will be Rs.114 per share.

FY17 PE 43
@HY18 PE 29

Peer comparison:
Company -- FY18 PE - Net profit margin

Sandhar Tech- 29 - 3.3%
Minda Corp - 63 - 6.88%
Suprajit Eng. - 43 - 10.18%
Gabriel India - 22 - 5.34%
J B M Auto - 55 - 5.76%
Minda Ind. - 74 - 5.78%
Fiem Ind - 31 - 3.23%

I have Gabriel in my portfolio and adding Suprajit also for short to long term.

So overall a very good company, good management, well known local and global customers . Good demand in auto sector. Good track record of auto companies which gave handsome returns in the past. Only concern is crrent market sentiment.

So conclusion is that only 1,21,133 lots are available in retail category so 20-25% allotment chances expected. No chances of negative listing as well as bumper listing. So one can apply for some listing gain (10%+) as well as short to long term. Also keep in mind Endurance Technology IPO.

Thanks and regards
rrpjodhpur
Justaninvestor
29.1. Justaninvestor  Mar 19, 2018 11:33 I Like It. | Report Abuse
Excellent analysis except nature of business and its spread. It is mini endurance Technologies.
IM AK
28. IM AK  Mar 19, 2018 09:42 I Like It. | Report Abuse
Eagleeye plz tell the GMP for sandhar technology
IM AK
27. IM AK  Mar 19, 2018 08:56 I Like It. | Report Abuse
Eagleeye plz tell the GMP for sandhar technology
JAYESH M
26. JAYESH M  Mar 19, 2018 08:10 I Like It. 1 | Report Abuse
R R PATEL SIR YOU ARE DOING GREAT JOB FOR GIVING USEFULL INFORMATION
PLS KEEO ON POSTING
THANKS VERY MUCH
Harshajeet Patil
25. Harshajeet Patil  Mar 18, 2018 23:52 I Like It. 1 | Report Abuse
Hello All,

Those who have waited for a good IPO (Short term or Long term) this is the one. Overall the company is very good and passenger/2 wheeler market is excellent, so this stock is worth applying. Another indicator Akash Bhansali struck a secondary market deal with GI capital and bought 5% share of this company for approx. 80 crs. Say no more, just jump on!
R R Patel
24. R R Patel  Mar 18, 2018 16:24 I Like It. 12 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 3100+ Likes)
In current market sentiment i can''t give ranking for present IPOs for listing gain but some imp. points-

99% chances of positive listing in Karda, Sandhar, Mishra Dhatu & ICICI Sec. These IPOs may give 10% or more listing gain.

Moderate listing expected in big size Bandhan & HAL but chances of surprise also in positive side. May risky also.

So more importants will be the subscription figures of these IPOs so closely watch these and than decide. Don''t follow anyone blindly In market, read, study & do some analysys and than decide.
By the way i am applying single lot each in these 6 IPOs for short to long term view. I have not applied in Bharat Dynamics.
Arihant.
23. Arihant.  Mar 17, 2018 19:17 I Like It. | Report Abuse
Which one is better sandhar techno or icici sec for listing again and if i go for long term perspective kindly suggest someone
sonal patel
23.1. sonal patel  Mar 18, 2018 12:37 I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 1400+ Likes)
If you go for long term then apply in ICICI
Justaninvestor
22. Justaninvestor  Mar 17, 2018 22:48 I Like It. | Report Abuse
Endurance Technologies in the making
Jvc
21. Jvc  Mar 17, 2018 18:36 I Like It. 1 | Report Abuse
Will return is possible.I am confident.
BK PITALIYA
20. BK PITALIYA  Mar 17, 2018 17:13 I Like It. | Report Abuse
In case of offer for sale the average cost of aquisition by the selling shareholders /promoters must be disclosed in clear terms.
HEMIPO
19. HEMIPO  Mar 16, 2018 13:55 I Like It. 4 | Report Abuse
CNBC Sandip Jain v DD sharma ka ipo mai view galat batate hai past ipo. DD sharma says :IEX IPO apply ,but listing discount Sandip sharma says : shalby ipo apply but listing discount.
Cautious ipo
19.2. Cautious ipo  Mar 17, 2018 13:07 I Like It. 4 | Report Abuse
They advised people on trapped stocks to buy so that they can or their trapped client can exit immediately in morning. also free hit share may be a trapp to exit
G S KAUSHIK
19.3. G S KAUSHIK  Mar 17, 2018 16:24 I Like It. 12 | Report Abuse
SANDEEP JAIN( JAIN IRRIGATION), D D SHARMA(SINTEX INDUSTRIES) GORANG SHAH,( IDEA CELLULAR) THEY ALWAYS SUGGEST ORDINARY STOCK
I REQUESTED TO ALL FRIENDS PLS CHECK BELOW PARAMETER BEFORE INVESTING IN STOCK MARKET
01 SHAREHOLDING PROMOTER NOT LESS THAN 45 % NO PLEDGE IF SHAREHOLDING LESS THANT 45 THAN FII DII HAVE GOOD HOLDING
02 MUTUAL FUND ALSO INVEST IN THIS STOCK
03 YOU SHOULD COMPANY PRODUCTS
04 DEBT(LOAN) NOT MORE 25% OF TOTAL ASSETS
05 PRICE TO BOOK NOT MORE THAN 1.5 TO 2
06 CASH IN BOOKS
07 COMPANY PRODUCT FUTURE DEMAND
08 INVEST ONLY THANT MARKET NIFTY PE 15 TO 18 OR 19 SUBJECT TO MARKET CONDITION
09 NEVER BUY VALUE PICK STOCK NEXT DAY OPEN MARKET BUY ON CORRECTION TIME
10 SOME GOOD STOCK HOLD IN PORTFOLIO FOR NEXT GENERATION

THANKS



GHP
18. GHP  Mar 17, 2018 15:13 I Like It. 5 | Report Abuse
ignore all ipo due to 10% correction in Market.
Gnsarda
17. Gnsarda  Mar 17, 2018 13:15 I Like It. 5 | Report Abuse
R.R Patel, Gamble, Aniketiaf sir detail advice on
Bandhan and Sandhar technology

Gnsarda
16. Gnsarda  Mar 17, 2018 13:06 I Like It. 1 | Report Abuse
How many lots available fer retailer in Sandhar
sonal patel
15. sonal patel  Mar 17, 2018 12:27 I Like It. 1 | Report Abuse
Top Contributor Top Contributor (300+ Posts, 1400+ Likes)
Gmp of sandhar is 20-22
Aniketiaf
14. Aniketiaf  Mar 17, 2018 10:27 I Like It. 5 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 4800+ Likes)
Gmp of Sandhar is 19-22
Splendid
13. Splendid  Mar 17, 2018 09:27 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts)
Anchor Investor list is good
AJAY SOMATAR
12. AJAY SOMATAR  Mar 16, 2018 20:01 I Like It. | Report Abuse
Akash Bhansali of enam sec. Pick up 5% stack in sandhar technology
dhruv patel
11. dhruv patel  Mar 15, 2018 11:23 I Like It. 1 | Report Abuse
should i subscribe bandhan bank or sandhar tec . i have only one capacity so which one give to me best return for me plz advise me. as possible .
sonal patel
11.1. sonal patel  Mar 16, 2018 10:12 I Like It. 5 | Report Abuse
Top Contributor Top Contributor (300+ Posts, 1400+ Likes)
if you think for return then go with sandhar ..and if you think for sure but small return then go for bandhan bank
amit K singh
10. amit K singh  Mar 13, 2018 08:52 I Like It. 1 | Report Abuse
My take - apply Sandhar technologies ipo, avoid others (bdl, Hal, Bandhan and Karda)
Atul Kumar
10.2. Atul Kumar  Mar 14, 2018 14:39 I Like It. | Report Abuse
Sandbar ipo also very expensive.In last six months, margins HV bn boosted to seek a better ipo pricing.In fact all issues coming up with v high prices, leaving hardly any thing for investors.
amit K singh
10.3. amit K singh  Mar 15, 2018 22:24 I Like It. | Report Abuse
Bdl subscription was on the expected line. High price ipo, so everyone avoided except lic. HAL ipo subscription is also expected simillar response. Now all the expectations is from ICICI securities ipo and Sandhar technologies ipo.



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