All the best to those who got allotment (changed from congratulations given what happened in the last IPO :P)

A few not so good IPOs are open right now

First one - RR Kabel Ltd

What does the company do?

Makes electric wires and shit.

Close date - Tomorrow

Financials

Revenue growth is decent but profits fell in the latest year

RoE is also less as compared to peers

Lot sizes

Retail - 14 shares
SHNI - 196 shares
BHNI - 980 shares

Allotment probability is extremely high given that people’s funds are blocked in other IPOs.

And the demand for this one isnt great.

Demand in the grey market

Not bad but nothing to write home about.

Latest GMP is 14%. The stock might list at a small premium if market conditions support. Can even list at a small discount if it doesnt.

Opinion

I would avoid this one. Though if demand comes in tomorrow, there is a very small chance of me changing this decision. But for now, I am avoiding it

Allotment for EMS is out now

You may check it at

https://kcas.kfintech.com/ipostatus/

I got 0/8 in this one. Had got 1/7 in Jupiter.

Jupiter listed at decent gains

SAMHI Hotels IPO closes today

Short conclusion - I am avoiding this IPO.

Reasons - 1. not so strong demand in the grey market.
2. Size of the IPO is also fairly large, making the supply large.
3. Subscription numbers after day 2 are bleh.
4. The company is losing hundreds of crores every year. I dont want to give money to a company doing that.

Subscription after day 2 for Samhi. Unless QIBs come and rescue this one, it might get cancelled.

The company is losing money left and right and cant pay interest on its loans. So decided to go ask for money from the public. Big red flag.

Zaggle Prepaid Ocean Services also closes today.

Sadly it isnt much better than Samhi Hotels.

This is what happens when too many IPOs come at the same time. Demand gets distributed.

I might apply for 1 lot in SHNI just for the thrill in this one. Baaki it isnt something great.

Latest GMP is 9%.

Fundamentals arent too bad esp given that it is a new age fintech and is profitable already.

Lot sizes

Retail - 90 shares
SHNI - 1260 shares
BHNI - 6120 shares

Warning - it is risky and can list at a discount. Plus subscription numbers as of now are dismal.

Fundamentals

Will start sharing IPO updates on the below channel from now on (will share here also and will gradually transition since people generally open Telegram less)

https://whatsapp.com/channel/0029Va5SIKBEwEk44NH6pd0V

JSW Infra IPO analysis coming up

JSW Infra IPO

Closes on 27th September

About the company: While the name suggests that it is an infra company like L&T, in truth, it is actually a port management company like Adani Ports, lol.
The company operates ports and provides maritime related services.


Size of the issue: 2800 Crores (means that prob of allotment would be higher than normal because of the large size)

Issue price: 113-119 per share

Lot sizes:

Retail - 126 shares
Small HNI - 1764 shares
Big HNI - 8442 shares

Financials
The company’s profits have grown at a healthy pace from 196 crores in FY20 to 749 crores in FY23. Revenue too has nearly tripled.

It has a Return on Equity of 18% which is pretty healthy for a slightly matured company and is better than its only listed peer - Adani Ports.

Demand in the grey market - While the demand in the grey market is decent, the GMP is not too high given the large size of the issue. The latest GMP is ~15%.

Conclusion

I am inclined towards applying for the IPO from a few accounts (not aggresively). If the market trend doesnt turn drastically bearish, it is likely to list at a premium ranging between 10-20%. But it is not something that would give a huge listing gain.

However, since the IPO closes on 27th (day after tomorrow), I will make a final decision looking at the subscription numbers. If the subscription from QIBs doesnt come by Wednesday noon, I might not apply.