Latest subscription numbers for Ikio Lighting

Institutions: 1.37x (they always come in on day 3)
Small HNI: 19.9x
Big HNI : 14.04x (effectively 2.8x because max allotment in Big HNI is 2 lakhs in case of oversubscription)
Retail: 5.92x

Probability of allotment

Retail: 1 out of 13.86
Small HNI: 1 out of 56.32
Big HNI: 1 out of 13.4

Latest GMP - 42%

Allotment for Ikio Lighting IPO is out

You may check the same at the below link:

https://kosmic.kfintech.com/ipostatus/

Ikio lighting lists at a 100% discount

Before someone gets a heart attack, this is a joke :p we would know the price in few minutes and trading would start at 10 AM

Lists at a 37.7% premium, mostly on expected lines

Listing gains for HNI applicants - 78k
Listing gains for retail applicants - 5.6k

Not very excited about HMA Agro IPO, but there will be 2 amazing IPOs coming next week. (Though they would come together and clash so if you apply in HNI, you might need to manage the funds better).

Will share a short review on HMA Agro tomorrow, but more importantly will share detailed reviews on the good IPOs next week. The good IPOs are Cyient DLM and Ideaforge.

HMA Agro IPO review

I would be avoiding this IPO. Reasons - Low GMP in a strong market and low subscription numbers. The IPO may still list at a small premium, but I dont consider it worth the risk.

The subscription window closes tomorrow at 5 PM.

Lot sizes

Retail - 25 shares (35% quota)
Small HNI - 325 shares (5% quota)
Big HNI - 1725 shares (10% quota)

About the company:

The co. is involved in teh export of buffallo meat, vegatables, cereals etc.

IPO size -480 Crores

Subscription numbers before the final day

Retail - 0.54x
HNI - 1.92x
QIB - 1.04x

Subscription numbers are not bad given that tomorrow is the last day, but I have a feeling that some would have applied today thinking today is the last day.

There are 2 really good IPOs coming next week, I would rather use funds on those than blocking them here till 29th. We should hope that as many people apply for this one so that when the good ones come, the subscriptions dont go too high :p

I would be holding a session with the CEO of Estee Advisors tomorrow at 5 PM. Sandeep is a pioneer in the investment industry, with over 30 years experience managing huge amounts of money.

We’ll talk about factor based investing and more.

You may register at the below link

https://forms.gle/B4rgXsXS5aa9CQN6A

Ideoforge is going to be a pretty heavily subscribed IPO. Review coming tonight.

But if you apply and get it, strong chance of doubling your money in a day.

Ideaforge IPO Review

What does the company do?

It manufactures drones and related technology.

About the IPO

Size: 567 Crores (not too small, not large either)
Fresh issue of 240 Crores and Offer for sale 327 Crores
Application window: Closes on 29th June
Price band: 638 to 672 per share
Retail quota: 10% (too small so chances of allotment in retail would be kaafi low)
HNI quota: 15% (10% big HNI and 5% small HNI)

Objects of the issue: Repayment of borrowing, working capital, product development investment and general corporate purposes (they just checked all the boxes while filling the form :p)

Lot sizes

Retail: 22 shares (INR 14,784)
Small HNI: 308 shares (INR 2,06,976)
Big HNI: 1,496 shares (INR 10,05,312)

Probability of allotment would be highest in Big HNI (expected to be less than 10%)) and lower than that in retail and small HNI

Financials of the Company

Revenue of the company grew from 16 Crores in 2020 to 161 Crores in 2022 and 143 Crores in 6M2023.

This is a CAGR of ~60% p.a (which is really good).

Earnings (profit) of the company grew from -13 Crores in 2020 to 45 Crores in 6M2023. Again really good. THe margins are strong too.

Overall the financials are really impressive.

However, there have been certain reports doing rounds that the quality of the products is substandard, but given that I am not an expert on drone tech, I cannot commnet on it. And to be honest that's something for long term buy n hold investors to worry about.

Here comes the most important part

The Grey market premium of the IPO as of today is ~80% and unless there is a huge negative event, the stock should list at very good premiums.

I would be applying for the IPO and praying to get allotment (even though I am an atheist).

Standard note: This review is my opinon based on my research and knowledge and is for educational purposes. Please do your own research before investing your money in the stock market.

Another good IPO opens tomorrow - Cyient DLM Ltd. We would be sharing the review for that too.

Watch this space.