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Sintercom India Limited IPO (Sintercom India IPO) Detail

Feb 5, 2018 - Feb 7, 2018

Incorporated in 2007, Sintercom India Limited is Pune-based Company engaged in the business of manufacturing sintered metal automotive components of engines, transmissions systems, body chassis and exhaust applications using sintering manufacturing processes. The products manufactured by the company are used in the commercial and passenger vehicles.

The main product line of the Company is manufacturing of high strength structural sintered components of Engine and Transmissions.

Company mainly caters to the domestic Original Equipment manufacturers (OEM) buyers like Maruti Suzuki Limited, Mahindra & Mahindra Limited, Bajaj Auto Limited and Fiat India Automobiles Private Limited in automotive segment. Company has an in-house dedicated Research & Development team. Company has been developing new products in engines, transmission systems and body chasis for OEMs and Tier-1 customers.

Objects of the Issue

The Offer comprises of Fresh Issue by our Company and an Offer for Sale by the Selling Shareholders.

The Offer for sale
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.

The Fresh Issue
The objects to the Net Proceeds of the Fresh Issue are:
1. To finance expansion of production capacity at existing unit
2. Part repayment of secured and unsecured loan availed by the Company.
3. Funding the working capital requirements of the Company
4. General corporate purposes.

Sintercom India IPO Details

IPO Date Feb 5, 2018 to Feb 7, 2018
Listing Date Thursday, February 15, 2018
Face Value ₹10 per share
Price ₹63 to ₹65 per share
Lot Size 2000 Shares
Issue Size6,546,000 shares of ₹10
(aggregating up to ₹42.55 Cr)
Fresh Issue3,016,000 shares of ₹10
(aggregating up to ₹[.] Cr)
Offer for Sale3,530,000 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Company Promoters

Mr. Jignesh Raval, aged 47 years, is the individual promoter of the company.

BRN Industries Limited and Miba Sinter Holding are the corporate promoters of the company.

Sintercom India IPO Lot Size

The Sintercom India IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹130,000).

Application Lots Shares Amount
Retail (Min) 1 2000 ₹130,000
Retail (Max) 1 2000 ₹130,000

Anchor Investors Allocation

02 Feb 2018 - Sintercom India Ltd. Allots 18,40,000 equity shares at Rs. 65 per share aggregating to Rs. 11.96 crore (approximately) to 3 Anchor Investors.

The anchor investors include leading investors namely:

  • Resonance Opportunities Fund
  • Raisonneur Capital Ltd
  • India Max Investment Fund Ltd

Sintercom India IPO Review

Rising usage of sintered products in automobile and other sectors augurs well for this company that is poised to benefit going forward. Investment may be considered for long term in this fully priced offer. Read detail review...


Sintercom India IPO Subscription Status (Bidding Detail)

The Sintercom India IPO is subscribed 38.92 times on Feb 7, 2018 5:00:00 PM. The public issue subscribed 16.41 times in the retail category, 5.80 times in the QIB category, and 203.72 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB5.80
NII203.72
Retail16.41
Employee3.92
Total38.92

Sintercom India IPO Prospectus

Sintercom India IPO Rating

159
4.2
Rating:Rated 4.2 stars
Vote Here ...

Sintercom India IPO Listing Date

Listing Date Thursday, February 15, 2018
BSE Script Code
NSE Symbol SINTERCOM
Listing In
ISIN INE129Z01016
IPO Price ₹65 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
₹65.00
₹78.00
₹78.00
₹78.00
₹78.00

Company Contact Information

Sintercom India Limited
Gat No. 127, At Post Mangrul,
Taluka Maval, Talegaon Dabhade,
Pune 410 507
Phone: +91 2114 661200
Email: investor@sintercom.co.in
Website: http://www.sintercom.co.in/

Sintercom India IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: sintercom.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Sintercom India IPO Review

Sintercom India IPO Recommendation Summary

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Sintercom India IPO FAQs

Sintercom India IPO is a SME IPO of 6,546,000 equity shares of the face value of ₹10 aggregating up to ₹42.55 Crores. The issue is priced at ₹63 to ₹65 per share. The minimum order quantity is 2000 Shares.

The IPO opens on Feb 5, 2018, and closes on Feb 7, 2018.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Sintercom India IPO opens on Feb 5, 2018 and closes on Feb 7, 2018.

Sintercom India IPO lot size is 2000 Shares and the minimum order quantity is .

You can apply in Sintercom India IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Sintercom India IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Sintercom India IPO allotment status.

The Sintercom India IPO listing date is on Thursday, February 15, 2018.
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Sintercom India IPO Message Board

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142 Comments

65. SecTheta |   Link |Feb 22, 2018 3:34:46 PM
BUY if you don''t have any. HOLD if you already have!
65.7. Kuvadva.... |   Link |Mar 2, 2018 2:15:45 PM
Sectheta ji.
As per your view one point one gave nearly 20 percent return recently from 76 to 91. What is your view on sintercom ??
Which one is better among sintercom and south west pinacle??

65.8. SecTheta |   Link |Mar 5, 2018 10:48:48 PM
Sintercom and SAW both give good returns but you need to patient. For 1P1, I think it should cross 100 by this weekend. Let''s see.
64. SecTheta |   Link |Feb 17, 2018 7:19:57 AM
Now PANTOMATH seems to be GREEDY. They are NO MORE INVESTOR FRIENDLY! ONE Point ONE and Sintercom, both had anchor Investor and both are below the price when circuit opened. This clearly shows that they don''t want retail Investors to be investors in GOOD companies by creating panic in manipulating and keeping the price low... Hardly matters for long term Investors but short term or new investors are all fu**** up!
64.7. SecTheta |   Link |Feb 23, 2018 12:36:25 PM
Bhai Bhai ke kaam ni aayega to kaun aayega...
64.8. SecTheta |   Link |Feb 23, 2018 3:44:35 PM
S2S, Sintercom and Tasty dairy dono chalenge :)
63. DownriteVJ |   Link |Feb 19, 2018 10:32:49 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
69
62. CA Nitin Agrawal |   Link |Feb 14, 2018 12:27:13 PM
somebody should complain about the look in the ipo. I have a very decent record of non allotting shares in ipo from last more then 10 ipos. Where are SEBI watchdogs ?
62.7. SecTheta |   Link |Feb 14, 2018 7:15:22 PM
LMs want to kick out retailers... All the recent IPOs have this trend!
62.8. ML |   Link |Feb 17, 2018 9:28:54 AM
intime ''s alotment is fair but in big share there is must some wrong.
61. Ficpl |   Link |Feb 16, 2018 11:58:42 AM
Top Contributor Top Contributor (200+ Posts, 500+ Likes)
Trading at 73.8
5% Down



60. HARI IPO |   Link |Feb 15, 2018 7:20:43 PM
DownriteVj Sir, please tell buyer qty of shares. As I see sintercom after 5 p.m
60.1. DownriteVJ |   Link |Feb 16, 2018 11:30:07 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Doesnt matter now as trading has resumed
59. Carn Mohan |   Link |Feb 16, 2018 11:00:48 AM
IPO Mentor IPO Mentor (900+ Posts, 400+ Likes)
MHHL is 100 time better than sintercom
58. DownriteVJ |   Link |Feb 16, 2018 9:21:05 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Circuit removed
58.2. Jjv |   Link |Feb 16, 2018 9:57:22 AM
Today UC will be there??
58.3. DownriteVJ |   Link |Feb 16, 2018 10:00:28 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
No, Trading has already been resumed
57. HARI IPO |   Link |Feb 15, 2018 9:46:24 PM
Umang Sir, is 3 UC expected. Please tell as you are Master in SME or I exit on Friday i.e on 2UC as I sell on listing days. Please said thanks Sir,
56. HARI IPO |   Link |Feb 14, 2018 9:57:30 PM
Yes I have got 1 out of 3 and expect 2 UC. Your views about this ipo please as ultrasonic you are master from cadsys
56.1. Umang and his ultrasonic uproar |   Link |Feb 15, 2018 8:11:32 PM
IPO Mentor IPO Mentor (500+ Posts, 600+ Likes)
@ Hariom,
I am copy/pasting below article for you, which I read it on net.
_______________________________________
Sintercom India Ltd

Market Cap @ 65/- ~156crs
Revenue 1H18: 36.3crs / FY17 – 66crs
Margins: ~24%

Why to read more about Sintercom

One of the three company in India making Sintered products (Auto component) alongside GKN (a MNC), Sundram Fastener.
An associate of global market leader ‘Miba’ in Sintered products
Strong board/management composition
Strong margin profile for a 66crs revenue company.
Growing and untapped market
Company Background:
Sintercom India Ltd. is one of the leading automotive sintered components manufacturer located in Pune, India. It specialises in manufacturing medium to high density sintered components for automotive engine, powertrain and exhaust systems as well as sensor components for global customers. Company was started by Mr. Jignesh Raval in 2007 as Maxtech India Pvt. Ltd. Mr. Raval is a technocrat with over 20years of experience in Automotive industry. Prior to starting Sintercom, he was working with Tenneco Inc as ED, Global Supply Chain Management division.

Timeline:
2007 – Started as Maxtech India Pvt. Ltd
2010 – Started manufacturing Stainless Steel Hego Boss (converted forged parts to Sintered products)
2011 – Entered into a JV with MIBA Sinter Austria (converted Forged Gears to Sintered Gears)
2012 – Changed company name to Sintercom India Pvt. Ltd (kept introducing new products)
2013 – Started supplying to Maruti Suzuki
2015 – Developed 6-speed transmissions Syncro Hubs
2016 – Developed a product for Bajaj Auto (Forged shift tower component to sintered)

Board of Directors
Mr. Hari Nair – Chairman, ex-COO, Tenneco, 20yrs experience
Mr. Jignesh Raval – MD, CEO
Mr. Markus Hofer – CFO, Miba AG
Mr. Harald Nuubert – CEO, Miba Sinter Group

Management Team
Mr. Jignesh Raval – MD, CEO
Mr. Pankaj Bhatawadekar – CFO
Mr. Nikhil Chavan – Head, Engineering and Marketing
Mr. Sachin Gunjal – Head, Manufacturing

What is Sintering Technology
Sintering is a process that uses metal powder to make components. Sintered products are highly tensile and density higher than normal casting and foundary products. Please go through the video here to understand more about the process.
Sintering is a green technology as it uses metals scrap and uses less water and energy compared to Casting and foundaries.

Market Sizing
Currently market size of Sintered products in automotive segment is pegged at ~950crs. Share of sintered products in PV is ~4kg/Passenger vehicle, however in the US this comes to 17kgs and in EU and Japan, this is around 12kgs. If management is to be believed, this could go up to 7kgs over next 5 years.
Since sintered products are lighter than casting/forging products, hence they are more and more preferred by the OEMs to reduce the weight of the vehicle which helps in increasing efficiency of the vehicle.

If Auto analysts are to be believed then 2W market is expected to increase by 12% per annum to reach 23-24m while PV is expected to go up to 5m over next 2-3 years. Also as BS VI will roll out in 2020-21, usage of sintered products is expected to go up by another 1-1.5kg/PV.

With rough calculation, we can arrive at the market size of ~1500-2000crs over next few years. That roughly doubles the market in next few years.

Sintercom currently has market share of ~6.5% which it expects to increase it to ~10% by 2020-21

Key Customers
Sintercom has long standing relationship with major players in India like Mahindra’s, Bajaj, Maruti, Honda and others. It is also exporting a small portion to Suzuki for products in Japan

Financials & Other operating metrics

4-yr Revenue CAGR – 10.7%
4-yr Sintered Products revenue CAGR – 18.5%

4-yr EBITDA CAGR – 15.2%
4-yr PAT CAGR – 104% (On a low base)

EBITDA margin has improved from 17-18% to 24% in 1H18. This is largely because of discontinuation of sale of Hego Boss (non-sintered product) which was a low margin business. Management had consciously taken this decision to reduce sale of hego boss and as of 1H18 it has been discontinued. Sintered products have higher margins and every new product introduced will improve the margins further.

RoCE has increased from 11% in 2013 to 14% in 2017 & 18% in 1H18.

Cash Flows: Company is generating ~10-11crs of operating cash flow and uses it to reduce debt.

Asset turnover is ~ 1.5x and operates at 70-75% capacity. They use rest of the capacity for R&D purposes to bring new prototypes.
Valuation
At IPO price, company will have a market cap of ~156crs. In 1H18, company has generated PAT of ~3crs and is likely to cross ~6crs for FY18. It would command a multiple of ~26x at IPO price which is not expensive but not cheap either. Other auto ancilliary companies with similar margin profile trades at higher multiples.

Other Details:
MIBA AG would hold ~20% after the IPO. Company pays 3% royalty to MIBA for the technology/Know-how that they use from MIBA.
Company has an order book of 50crs for New products that it has developed.
________________________________________
I think this article will help you.
Dics::::I have not applied in this SME, as I was running out of funds.

55. MAMU |   Link |Feb 15, 2018 8:03:46 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
It will available for tomorrow to trade
if you are planning for long time to n keep this in your portfolio else sell pm high and roation your money in good stock.
54. HARI IPO |   Link |Feb 15, 2018 7:42:00 PM
Mami Sir, 11lk mean 11 lakh, Is 3 UC POSSIBLE OR EXIT ON 2 UC.
53. MAMU |   Link |Feb 15, 2018 7:34:51 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
during market 11lk
post closing 86k
52. MAMU |   Link |Feb 15, 2018 7:07:39 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
due to less buyers whole day, tomorrow it will circuit breakup..
51. BABUKALIA |   Link |Feb 15, 2018 6:44:37 PM
Tomorrow circut khul jayegi
50. CA nkn |   Link |Feb 15, 2018 4:12:54 PM
hold ....... who got allotted till 3 day ......... this sector bullish .... QIB most buying active....
50.1. DownriteVJ |   Link |Feb 15, 2018 4:40:13 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Yeah
49. DownriteVJ |   Link |Feb 15, 2018 2:23:31 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Cheers to all those who got allotted. 2nd UC coming tomorrow mostly
48. DownriteVJ |   Link |Feb 15, 2018 2:19:50 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
I am wondering how come this got listed today?
47. bepatient |   Link |Feb 15, 2018 9:23:55 AM
1st UC ...what to do ...hold or sell ?
47.1. Ankit Jain |   Link |Feb 15, 2018 9:26:56 AM
As your name defines it be patient and hold it tight for another two sessions.
47.2. DownriteVJ |   Link |Feb 15, 2018 2:19:04 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Hold boys
46. S Patel |   Link |Feb 15, 2018 9:22:09 AM
I don''t see SINTERCOM script in zerodha account, but same I can see in Sharekhan. Does anyone else face the same issue.
46.1. Jjv |   Link |Feb 15, 2018 11:40:14 AM
Login to Kite 3.0. It will be then shown and traded
46.2. S Patel |   Link |Feb 15, 2018 12:12:16 PM
Thanks a lot Jjv, Now I can see script using Kite 3