Chittorgarh.com Logo
Loading...

ANI Integrated NSE SME IPO review (Apply)

Review By Dilip Davda on Nov 2, 2017

ANI Integrated Services Ltd. (ANI) (earlier known as ANI Instruments Pvt. Ltd.) is an ISO 9001 certified company engaged in the business of Engineering services such as Erection and Installation of Electrical /Instrumentation/Mechanical Turnkey Projects‘, Operations and Maintenance, Commissioning Assistance, Shutdown services and Technical Manpower deputation, . It has leveraged its track record in India to successfully expand its operations internationally, and have provided a wide range of engineering services on various international projects, particularly in the UAE, Thailand and Kingdom of Saudi Arabia to esteemed clients like, Larsen & Turbo Industries, Tata Consultancy Engineers Limited, Reliance Industries Limited, Nestle India Limited, Engineering India Limited, Mondelez India Foods Limited, GAIL (India) Limited, etc. These services are timely executed as per the varied demands of customers. ANI has been meeting the most demanding requirements of clients for their immediate needs, specific expertise personnel or quality of work.

Through its efficient functioning ANI has been able to grab a niche in the market and would continue to maintain the same goodwill. Backed by a team of more than 1200+ adept and skilled professionals, along with large team of Technicians it became one point solution for Design / Detailed Engineering, System Engineering / Programming Engineers, FAT / SAT Engineers, Field Engineers, Installation / Testing Engineers, Commissioning Engineers, Operation & Maintenance Engineers etc. ANI has a backup of the most Hi tech services and customer care executives that manage and monitor the company business operations. Company has been serving EPC consultants and various other industries like Power Plants, Oil & Gas, Refineries, Chemicals & Petrochemicals, Pharmaceuticals, Cement, FMCG, Breweries, Fertilizers, Hospitality, Construction, Infrastructure Projects and F & B sectors, Metals, Airports etc.

To part finance part repayment of debt, working capital and general corpus fund needs, ANI is coming out with a maiden IPO of 2565600 shares of Rs. 10 each at a fixed price of Rs. 100 per share to mobilize Rs. 25.66 crore. Issue consists of offer for sale of 878400 equity shares and fresh equity issue of1687200 shares. Issue opens for subscription on 08.11.17 and will close on 10.11.17. Minimum application is to be made for 1200 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge platform. Issue is solely lead managed by Hem Securities Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue. Issue constitutes 26.48% of the post issue paid up capital of the company. Having issued initial MoA equity at par, it capitalized reserves and issued bonus shares in the ratio of 49 for 1 in March 2014, 1 for 1 in September 2016 and 7 for 1 in September 2017. Post issue its current paid up equity capital of Rs. 8.00 crore will stand enhanced to Rs. 9.69 crore. Cost of acquisition by selling promoter is Rs. 0.01563 per share.

On performance front, ANI has reported turnover/net profits of Rs. 19.82 cr. / Rs.1.05 cr. (FY14), Rs. 23.63 cr. / Rs. 1.16 cr. (FY15), Rs. 39.96 cr. / Rs. 1.82 cr. (FY16) and Rs. 63.61 cr. / Rs. 7.88 cr. (FY17). For Q1 of current fiscal it has posted net profit of Rs. 2.06 cr. on a turnover of Rs. 15.37 crore. For last thee fiscals it has reported average EPS of Rs. 5.83 and average RoNW of41.75%. Asking price is at a P/BV of around 3.12 on the basis of post issue NAV of its shares. If we annualize latest earnings and attribute it on fully diluted equity post issue, then issue is priced at a P/E of around 12 against its peers TeamLease and Quess Corp trading at a P/E of around 50 and 112 respectively. Issue appears to have been priced reasonably. Peers are not comparable in true sense as they are primarily staffing companies, whereas ANI is providing services of experts on critical and time bound projects. With it's skill sharing for deputation, project and services, ANI believes that “every business needs the right kind of people” and based on performance and future prospects of ANI, it appears that “every investor needs the right kind of investment” and this is one of them.

On merchant banker's front, this is the 42nd SME mandate from its stable so far. Out of last 10 listings, 1 issue opened at discount and the rest opened with a premium of 2 .5 to 20% premiums to offer price on the listing day.

Conclusion: Investments may be considered for short to long term in this specialized service company which is the first mover in SME segment. (Subscribe)


Conclusion / Investment Strategy

Investments may be considered for short to long term in this specialized service company which is the first mover in SME segment. (Subscribe)

Reviewer recommends Subscribing to the issue.

Review By Dilip Davda on Nov 2, 2017

Review Author

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on information published here. With entry barriers, SEBI wants only well-informed investors to participate in such offers. With crazy listings in the past, SME IPOs drew the attention of investors across the board. However, as SME issues have entry barriers and continued low preference from the broking community, any reader taking decisions based on any information published here does so entirely at own risk. The above information is based on information available as on date coupled with market perceptions. The Author has no plans to invest in this offer.

(SEBI registered Research Analyst-Mumbai).


About Dilip Davda

Dilip Davda

Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.

Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.

Email: dilip_davda@rediffmail.com

ANI IPO FAQs

  1. 1. Why ANI IPO?

    The initial public offer (IPO) of ANI Integrated Services Limited offers an early investment opportunity in ANI Integrated Services Limited. A stock market investor can buy ANI IPO shares by applying in IPO before ANI Integrated Services Limited shares get listed at the stock exchanges. An investor could invest in ANI IPO for short term listing gain or a long term.

  2. 2. How is ANI IPO?

    Read the ANI IPO recommendations by the leading analyst and leading stock brokers.

  3. 3. ANI IPO what should investors do?

    ANI IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the ANI IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts in the above answer.

  4. 4. Is ANI IPO good?

    Our recommendation for ANI IPO is to subscribe.

  5. 5. Is ANI IPO worth Investing?

    As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the ANI IPO.

  6. 6. When will ANI IPO allotment status?

    The ANI IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit ANI IPO allotment status to check.

  7. 7. When will ANI IPO list?

    The ANI IPO will list on Monday, November 20, 2017, at NSE SME.

8 Comments

8. Akshar Jain  Nov 10, 2017 10:20:44 AM
This SME will be listed at a discount. There is no growth in this segment as each company is having its own services readily available without the need of third party service like ANI..
8.1. Allan  Nov 17, 2017 10:34:44 AM
How long since your visiting planet earth?
8.2. Subal Burman  Nov 23, 2017 4:07:05 PM
@AKSHAR .. YOU HAVE BEEN PROVED TOTALLY WRONG
7. Murtuza  Nov 9, 2017 6:31:11 PM
Thanks for the reviews sirji it help us a lots
6. KKmittal  Nov 9, 2017 11:09:30 AM
Davade Sir
How much portion reserved for retail subscription ?
5. KKmittal  Nov 9, 2017 11:08:31 AM
How much portion reserve for retail portion.
4. yogesh ukirde  Nov 8, 2017 5:34:24 PM
thank you sir....now only GO..GO..GO