Anisha Impex Ltd IPO Review (Avoid)

Review By Dilip Davda on Feb 25, 2014

 

Anisha Impex Ltd. (AIL) is currently engaged in the business of trading of fabrics. It is a multi-product fabric trading company and range includes fabrics for bedding, windows dressing, decorative, pillows and accents, table linen, kitchen linen and other home furnishing fabrics. The company has a diverse product portfolio. It also participates in auctions carried out by authorized agents of customs and ports authorities to buy the confiscated textile materials auctioned by them. 

 

To meet its long term working capital requirements, the company is coming out with an IPO for 6500000 equity share of Rs. 10 each at par to mobilize Rs. 6.50 crore. The issue is opening on 03.03.14 and will close on 05.03.14. Minimum application is to be made for 10000 shares and in multiples thereof, thereafter.  

 

On 14.12.2007 the company issued 170000 equity share of Rs. 10 each at a price of Rs. 50 per share followed by issue of 34000 shares at a price of Rs. 1000 per share on 22.03.12. After this it issued bonus shares in the ratio of 20 for 1 on 01.11.13 and then issued 5245000 equity shares at par between 19.12.13 to 24.01.14 to take the total paid up equity share capital to Rs. 9.93 crore that will rise to Rs. 16.43 crore after this issue. Shares will be listed on BSE SME. 

 

On the performance front, the company has posted an average EPS of Rs. 5.57 for last three fiscals on an equity base of Rs. 0.22 crore. For first nine months of the current fiscal ended on 31.12.13, it has earned net profit of Rs. 0.07 crore on a turnover of Rs. 21.57 crore giving an annualized EPS of Rs. 0.09 on equity of Rs. 9.93 crore that will translate into an EPS of Rs. 0.05 on enhanced equity post this issue. It results in asking price at a P/E of 200 even at par face value. 

 

Issue is lead managed by Inventure Merchant Banker Services Pvt. Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue. 

Merchant bankers has poor track record. Due to at par issue, post listing, this issue might surprise all with erratic trades, but considering the performance so far, issue is not worth.


Conclusion / Investment Strategy

 

Remark: Avoid it as it has entry barrier as well as poor performance.

Reviewer recommends Avoid to the issue.

Review By Dilip Davda on Feb 25, 2014

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

Anisha Impex IPO FAQs

  1. 1. Why Anisha Impex IPO?

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

  2. 2. How is Anisha Impex IPO?

    Read the Anisha Impex IPO recommendations by the leading analyst and leading stock brokers.

  3. 3. Anisha Impex IPO what should investors do?

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

  4. 4. Is Anisha Impex IPO good?

    Our recommendation for Anisha Impex IPO is to avoid.

  5. 5. Is Anisha Impex IPO worth Investing?

    As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to avoid the Anisha Impex IPO.

  6. 6. When will Anisha Impex IPO allotment status?

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

  7. 7. When will Anisha Impex IPO list?

    The Anisha Impex IPO will list on Tuesday, March 18, 2014, at BSE SME.








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