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Review By Dilip Davda on August 27, 2015
P B Films Ltd (PBFL) is a film production house based in Kolkata, with a vision to make commercial and art films. It produced the first film Mr. Fantoosh which was released in the year 2008. Ever since its first release PBFL has been on a steady growth curve in the field of motion picture production and has produced around fourteen Bengali films and few are under process of production in the coming year.
To part finance production of two films, publicity and distribution of the said films and to raise general corporate funds requirements, the company is coming out with a maiden IPO of 5000000 equity share of Rs. 10 each at par to mobilize Rs. 5 crore. Issue opens for subscription on 01.09.15 and will close on 07.09.15. Minimum application is to be made for 10000 shares and in multiples thereon, thereafter. Issue is solely managed by Guiness Corporate Advisors Pvt Ltd and Cameo Corporate Services Ltd is the registrar to the issue. Post allotment, shares will be listed on BSE SME.
On performance front, the company has reported an average EPS of Rs. 0.13 for last three fiscals with inconsistent track records. For FY15 it has posted net profit of Rs. 0.10 crore on a turnover of Rs. 5.14 crore. After subscription of MoA equity at par, it issued fresh equity at a price of Rs.200 per share in 2009 and Rs. 500 per share in 2012. Then it issued bonus shares in the ratio of 57 for 2 in February 2014 and thereafter raised its equity capital at the current level by way of at par issue. Its current equity capital of Rs. 9.42 crore will stand enhanced to Rs. 14.42 crore post IPO. If we attribute FY 15 earnings on fully diluted equity post IPO, then the asking price is at a P/E of 100 plus making it a costly bet.
On merchant banker’s front, this is the 18th SME IPO form its stable and from earlier mandates few have done erratic movements and have been suspended by SEBI on money laundering charges.
Being at par issue, it may attract well informed risk aver investors, but considering the P/E ratio, it looks a pricy bet.
Review By Dilip Davda on August 27, 2015
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. My reviews do not cover GMP market and operators game plans. Readers must consult a qualified financial advisor before making any actual investment decisions, based the on information published here. With entry barriers, SEBI wants only well-informed investors to participate in such offers. With crazy listings in the recent past, SME IPOs drew the attention of investors across the board and lead to seer madness. 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 their own risk. The above information is based on information available as of date coupled with market perceptions. The Author has no plans to invest in this offer.
About 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.
(Dilip Davda -SEBI registered Research Analyst-Mumbai,
Registration no. INH000003127 (Perpetual)
Email id: dilip_davda@rediffmail.com ).
The initial public offer (IPO) of P. B. Films Limited offers an early investment opportunity in P. B. Films Limited. A stock market investor can buy PB Films Limited shares by applying in IPO before P. B. Films Limited shares get listed at the stock exchanges. An investor could invest in PB Films Limited for short term listing gain or a long term.
Read the PB Films Limited recommendations by the leading analyst and leading stock brokers.
PB Films Limited offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the PB Films Limited Notes, Analysis and Recommendations by leading stock brokerage firms and experts in the above answer.
Our recommendation for PB Films Limited is to subscribe for long term.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe for long term to the PB Films Limited.
The PB Films Limited allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit PB Films Limited allotment status to check.
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