Credits for collating the information for this review- Anand Sivadas
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An important update
Earlier there was supposed to be a stock market holiday tomorrow on account of Eid. So the last day to apply for Ideaforge was supposed to be on Thursday.
However, the holiday has now changed to day after tomorrow.
This means that most likely the last day for Ideaforge would be tomorrow or if they extend it, it can be on Friday.
But just to be safe, it would be better to assume that the last date is tomorrow.
Earlier there was supposed to be a stock market holiday tomorrow on account of Eid. So the last day to apply for Ideaforge was supposed to be on Thursday.
However, the holiday has now changed to day after tomorrow.
This means that most likely the last day for Ideaforge would be tomorrow or if they extend it, it can be on Friday.
But just to be safe, it would be better to assume that the last date is tomorrow.
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Cyient DLM IPO closes tomorrow
Here are the details
What does the company do?
Electronic manufacturing services company that provides end-to-end integrated EMS and solutions. (Don't know what on earth that means). They offer design, manufacturing, testing, and certification support for global OEMs (Original Equipment Manufacturers) in industries such as aerospace, defence, medical technology, and industrial sectors, ensuring products meet high standards in reliability, safety, and performance. (Yeah makes some sense now).
About the IPO
Application window closes - 30 June
IPO size - 592 Crores
Price band - 250 to 265 (apply at 265)
Lot sizes
Retail - 56 shares (INR 14,840)
Small HNI - 784 shares (2,07,760)
Big HNI - 3808 shares ( 10,09,120)
The complete IPO is fresh issue with no offer for sale (that's a good sign).
Retail quota: 10%
HNI quota 15%
Here are the details
What does the company do?
Electronic manufacturing services company that provides end-to-end integrated EMS and solutions. (Don't know what on earth that means). They offer design, manufacturing, testing, and certification support for global OEMs (Original Equipment Manufacturers) in industries such as aerospace, defence, medical technology, and industrial sectors, ensuring products meet high standards in reliability, safety, and performance. (Yeah makes some sense now).
About the IPO
Application window closes - 30 June
IPO size - 592 Crores
Price band - 250 to 265 (apply at 265)
Lot sizes
Retail - 56 shares (INR 14,840)
Small HNI - 784 shares (2,07,760)
Big HNI - 3808 shares ( 10,09,120)
The complete IPO is fresh issue with no offer for sale (that's a good sign).
Retail quota: 10%
HNI quota 15%
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Objectives of the IPO
Funding working capital requirements, funding capex, repayment of certain borrowings, acquisitions and general corporate purposes (600 crore me sabkuchh karna hai inhe).
Financials of the company
Revenue grew from 465 Crores in 2020 to 728 Crores in 2022. CAGR of 25%. Fairly decent for a matured company.
Profit grew from ngative 6 Crores in 2020 to positive 40 Crores in 2022.
Financails are not bad. They are fairly decent.
Funding working capital requirements, funding capex, repayment of certain borrowings, acquisitions and general corporate purposes (600 crore me sabkuchh karna hai inhe).
Financials of the company
Revenue grew from 465 Crores in 2020 to 728 Crores in 2022. CAGR of 25%. Fairly decent for a matured company.
Profit grew from ngative 6 Crores in 2020 to positive 40 Crores in 2022.
Financails are not bad. They are fairly decent.
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Most important part
The GMP - The latest grey market premium was upwards of 40%. This coupled with decent financials, good futuristic industry, expansion plans and high demand make this IPO a pretty good bet for me.
The GMP - The latest grey market premium was upwards of 40%. This coupled with decent financials, good futuristic industry, expansion plans and high demand make this IPO a pretty good bet for me.
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Subscription at the end of day 2
HNI - 12x (likely to go upto 40-50x)
Retail - 25x (likely to go upto (50-60x)
Probability of allotment would be highest in Big HNI and similar among small HNI and retail
HNI - 12x (likely to go upto 40-50x)
Retail - 25x (likely to go upto (50-60x)
Probability of allotment would be highest in Big HNI and similar among small HNI and retail
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Cyient DLM
Probability of allotment
Retail - 1 out of 49
Small HNI - 1 out of 40
Big HNI - 1 out of 9
Probability of allotment
Retail - 1 out of 49
Small HNI - 1 out of 40
Big HNI - 1 out of 9
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Ideaforge
Probability of allotment
Retail - 1 out of 85
Small HNI - 1 out of 78
Big HNI - 1 out of 16
Probability of allotment
Retail - 1 out of 85
Small HNI - 1 out of 78
Big HNI - 1 out of 16
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The allotment for Ideaforge and Cyient is expected to be out by 5th July (Wednesday) night.
Hopefully, it would come in time because another good IPO closes on the 6th of July - Senko Gold
Will update here once the allotment is out
Hopefully, it would come in time because another good IPO closes on the 6th of July - Senko Gold
Will update here once the allotment is out
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PKH ventures got undersubscribed. While the IPO isnt great, it actually got undersubscribed because of its poor timing. It came out while everyone’s money is blocked in 2 good IPOs.
The IPO subscription date can get extended possibly. It may even get cancelled if the date isnt extended or it remains heavily undersubscribed even after extension.
The IPO subscription date can get extended possibly. It may even get cancelled if the date isnt extended or it remains heavily undersubscribed even after extension.
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We’ll also share a review of Senko Gold by tomorrow
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IPOs and more - by The Momentum Investing Co.
PKH ventures got undersubscribed. While the IPO isnt great, it actually got undersubscribed because of its poor timing. It came out while everyone’s money is blocked in 2 good IPOs. The IPO subscription date can get extended possibly. It may even get cancelled…
PKH Ventures IPO got cancelled.
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Senco Gold IPO Review
What does the company do?
A jewellery retailer selling handcrafted jewellery with over 50 years of experience. They have 136 showrooms in 96 cities across 13 states in India. Mostly present in the Eastern part of India. (I suppose that people in West Bengal wear a lot of jewellery (case in point Bappi Lahri).)
About the IPO
IPO size: 405 Crores (not large, but not super small either)
Last date to apply: 6th July (tomorrow)
Price band: 301 to 317 per share
Lot sizes
Retail: 47 shares (14,899) - 35% quota
Small HNI: 658 shares (2,08,586) - 5% quota
Big HNI: 3196 shares (10,13,132) - 10% quota
Probability of allotment would be highest in Big HNI, followed by retail and lowest in Small HNI
Objects of the IPO
270 Crores is fresh issue and 135 Crores is offer for sale
Fresh issue will be used for general corporate purposes and to fund working capital requirements
What does the company do?
A jewellery retailer selling handcrafted jewellery with over 50 years of experience. They have 136 showrooms in 96 cities across 13 states in India. Mostly present in the Eastern part of India. (I suppose that people in West Bengal wear a lot of jewellery (case in point Bappi Lahri).)
About the IPO
IPO size: 405 Crores (not large, but not super small either)
Last date to apply: 6th July (tomorrow)
Price band: 301 to 317 per share
Lot sizes
Retail: 47 shares (14,899) - 35% quota
Small HNI: 658 shares (2,08,586) - 5% quota
Big HNI: 3196 shares (10,13,132) - 10% quota
Probability of allotment would be highest in Big HNI, followed by retail and lowest in Small HNI
Objects of the IPO
270 Crores is fresh issue and 135 Crores is offer for sale
Fresh issue will be used for general corporate purposes and to fund working capital requirements
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Financials
Revenue grew at a healthy rate from 2674 Crores in FY21 to 4108 Crores in 9M23 (9 months of FY23). Annualised growth rate of over 40%.
Profits grew from 61 Crores to 159 Crores during the same period, growing faster than the revenue, signifying improving margins.
The P/E ratio is attractively low at ~13x. This is significantly low as compared to its peers Titan and Kalyan Jewellers which trade at much higher P/E ratios.
Revenue grew at a healthy rate from 2674 Crores in FY21 to 4108 Crores in 9M23 (9 months of FY23). Annualised growth rate of over 40%.
Profits grew from 61 Crores to 159 Crores during the same period, growing faster than the revenue, signifying improving margins.
The P/E ratio is attractively low at ~13x. This is significantly low as compared to its peers Titan and Kalyan Jewellers which trade at much higher P/E ratios.
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