Ignore the previous one. The website hasnt updated it and taken from the draft RHP. These are the financials of Uniparts

Uniparts IPO Review


Application Window – 30th November 2022 to 2nd December 2022

Size of the IPO – 835 Crores
Offer for sale – 835 Crores (A red flag for the long-term potential of the stock)

Retail Quota – 35%
HNI Quota – 15%

Lot sizes

Retail- 25 shares
Small HNI – 350 shares
Big HNI – 1750 shares

Price Band: INR 548-577 (For retail, choose cut-off price, for HNI, choose the upper limit)

Business – . The company is a manufacturer of engineered systems and solutions based in India. They are the leading supplier of systems and components for the off-highway market. They operate from their Six manufacturing facilities and four warehousing locations across the US, Europe, and India. They are selling their products in 25 countries. (Source ipowatch.in)


Financials

• Financials are not fantastic but not bad
• Revenue growth has not been great
• Profit has grown at a healthy pace, but without revenue growing, profit growth would be limited. And with the IPO being an OFS, the long-term growth prospects appear bleak (but what the hell! Humein toh GMP se fark padhta hai)

Grey market premium

• GMP as of 1st December 2022 is between 10-15%

View

This is not a very attractive IPO like DCX, EMIL, Harsha or Kaynes, but it is apply-able if you wish to take some risk for a 10-20% listing gain. I would be applying it but from lesser number of accounts.

The probability of allotment in Uniparts will be higher than Dharmaj.

Not financial advice, please do your own research or consult your financial advisor before making any decision

Some upcoming IPOs expected over the next month

1. ESDS Software
2. CMR Green Technologies
3. Hexagon Nutrition

Also do note that once the market turns completely bullish, promoters run to get their companies listed and at these times companies get listed at premiums of 70-80 even 100+%

2020-21 was a period with tens of such IPOs

The GMP has been in a downward spiral for Uniparts. If one is risk-averse, they should avoid applying for this one.

Dharmaj allotment is out now

You may check on the below link

https://linkintime.co.in/IPO/public-issues.html

Got allotted 2 HNI lots out of 7 accounts

A weird IPO coming next week

Abans Holdings

The IPO as of now has little demand in the Grey market with a GMP of 0 per share

The revenue of the company halved from 2020 to 2021 and then again halved from 2021 to 2022

However the profits rose (will need to read the DRHP to see what is the story)

*Here’s the weird part*

The IPO is reserved 60% for retail and 30% for HNIs with just 10% reserved for QIBs

As of now, I am going to avoid this one. But will wait for more information to make the final decision.

There will be 2 other IPOs in the coming week.

Sula Vineyards and Landmark Cars

Watch this space for more details on those

A note on SME IPOs

Have received a few messages asking for reviews of SME IPOs too.

I want you all to know something about SME IPOs first:

1. SME IPOs are smaller IPOs so the chances of allotment are very very low in these. However, the listing premium in good IPOs can be amazing with many IPOs listing at premiums of over 200%. But given that there are a lot more SME IPOs than mainboard ones, even if you get 1-2 in a year, you end up doubling your money (or more)

2. The lot size in these is larger. It ranges between 1-1.5 lakhs. Hence the risk becomes larger

3. Bad SME IPOs can list for huge discounts. I have seen some IPOs list at discounts of 70-80%

4. Their GMP can at times be manipulated, so there’s that risk too. One might think they are applying for a good IPO which turns out to be a bad one.

Had thought if I get 68% votes for yes, I would start sharing SME IPO analysis too.

Close :p

Ohh 68 kardie

Should have stopped the poll before making this comment

SME IPO Review – All E Technologies


All E Technologies (Alletec) is a provider of Microsoft business applications and digital transformation solutions since 2000. They are Microsoft Dynamics Gold Competency Partner and MasterVAR. They provided services to over 700 customers in the last few decades. They have been servicing customers in APAC, Europe, the USA, Africa, and the Middle East, besides India. (Source: IPOwatch)

Issue open dates – 9th December to 13th December

Size of the issue: 48.2 Crores
Retail quota – 35%
HNI Quota – 15%

Price band – 87 to 90 per share

Lot size

Retail – 1600 shares (1.44 lakhs)
HNI – 3200 shares ( 2.88 lakhs)

HNI allotment happens pro rata in an SME IPO

EPS – 6.94 per share (valuation of less than 14x which is fairly cheap)

Peers valuation

Infobeans – 23x
Ksolves – 26x

GMP

GMP is ranging between 50 to 65 Rs per share. Making it in the range of 50-70%.