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Delhivery IPO Review: Date, Price, GMP And Much More

Main board IPO

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May 8, 2022

Delhivery IPO Review: Date, Price, GMP And Much More

Delhivery is a New-age delivery and logistics company. The company’s business provides service to e-commerce marketplaces, enterprises & SMEs, direct-to-consumer e-tailers, lifestyle, consumer durables, FMCG, retail, automotive, consumer electronics, and manufacturing. As of March 2021, Delhivery carries out the delivery of nearly 2.3 million orders per day. It includes cargo delivery of around 3600 tons to mor than 18,500 pin codes. The company has established a wide distribution network that caters to around 2,700 cities, towns, and villages. Delhivery also holds a network of 7,000 drivers with a fleet size of 5,000 trucks. The Delhivery business operational model is a B2B type model. Through it, the company facilitates services with high penetration to the businesses. Let’s delve deep into understanding some key elements about the Delhivery IPO.

The services of the company can be divided into three major segments, these are:

Warehousing
Transportation
E-Commerce

Currently, the company has 20 completely and semi-automated sortation centers and 86 gateways. It helps the company to carry out a rated automated sorting ability of 3.17 million shipments every day. Their gateways facility is present in Bengaluru, Bhiwandi, and Tauru. The company also has an automatic material processing system in Karnataka.

OBJECTS OF THE DELHIVERY IPO ISSUE:

Prepayment of all the company’s loans, which be availed on a consolidated basis.
To meet corporate targets.
To fund the working capital requirement.

BASIS OF THE OFFER:

Delhivery has carried out a rapid expansion on a very broad scale that has helped the company improve its unit economics.
The company has an excellent in-house logistics support and management system, which has helped the company to attain an efficient business model.
Delhivery holds the capability for large-scale database management and intelligence.
The company has a well-established network design and engineering.
The company has a comprehensive logistical support and services portfolio.
Delhivery holds a strong customer relationship with a diversified and wide client base.
It has a large ecosystem of partners. It allows Delhivery to operate on a low-asset company model.
The company has a team of professionals that are widely present in all departments, including management, operation, support systems, and other wings.

DELHIVERY IPO DETAILS:

Delhivery Limited, a company engaged in the logistics sector, has its headquarters in Delhi. The company filed its DRHP with the SEBI and got SEBI approval to float their IPO in the market from the SEBI. The IPO brought forward by the company as per their DRHP is a combination of fresh equity issues worth Rs. Five thousand crores and an OFS been brought forward by the promoters and the selling stakeholders of Rs. 1235 crores. The total IPO size of the company is Rs.5235 crores. The company stated that it would not carry out any pre-IPO placement.

Through the OFS of the company, Carlyle and SoftBank Vision Fund will offload their stake in the company. In addition, the Times Internet, another investor in the company, will also participate through the OFS of the company. Delhivery was founded by Kapil Bharati, Mohit Tandon, and Suraj Saharan. The stakeholders offloading their stake are as follows:

Carlyle	Rs. 454 crores
SoftBank	Rs. 365 crores
Fosun	Rs. 200 crores
Times Internet	Rs. 165 crores

The company stated that the funds been raised from the issue of the fresh equity will be used for:

Organic Growth Objectives	Rs. 2,500 crores
Inorganic Growth Initiatives involving strategic acquisitions	Rs. 1,250 crores
General Corporate Purpose	Rs. 1,250 crores

IPO Opening Date	May 11, 2022
IPO Closing Date	May 13, 2022
Issue Type	Book Building Type Issue IPO
IPO Size	Rs. 5,235 Crores
Face Value	Rs. 1 per equity share
IPO Price	Rs. 462 – Rs 487 per equity share
Market Lot	One lot of 30 equity shares of the company
Issue of fresh equity of worth	Rs. 4,000 Crores
OFS sale price amount	Rs. 1,235 Crores
Minimum Order Quantity	One lot of 30 equity shares of the company
Minimum Order Price	Rs. 14,610
Maximum Order Quantity	13 lots corresponding to of 390 equity shares of the company
Maximum Order Price	Rs. 189,930
Listing At	BSE, NSE
Issue Size	Rs. 7460 Crores
Fresh Issue	Rs. 5000 Crores
Offer for Sale	Rs. 2460 Crores
Basis of Allotment Date	May 19, 2022
Initiation of Refunds	May 20, 2022
The Credit of Shares to Demat Account	May 23, 2022
IPO Listing Date	May 24, 2022
Basis of Allotment Type	% Of the allotment from the IPO Offer
Employee Discount	Rs. 25 per equity share of the company
Qualified Institutional Buyer	75
Non- Institutional Investor	15
Retail	10

STRENGTHS AND GROWTH ASPECTS OF DELHIVERY IPO:

Delhivery Limited is the country’s fastest-growing, biggest, and rapidly network expanding company that provides logistics services.
Despite the COVID-19 pandemic, the company was among the few start-ups which have been able to sustain their financial performance and operational efficiency due to an increase in the demand and a better business outlook for the company.
The company’s growth has been tremendous in the past as Delhivery initially was started as a tiny business with constrained reach in a city only. Now it has expanded its business operation on a Pan India presence. The company aims to increase its fleet size to meet the demand rise amidst the COVID-19 pandemic.
Delhivery will be the greatest beneficiary, as per the Redseer report. The Indian logistics market is considered to grow to $365 billion with a CAGR of 9.1% till FY26.
Delhivery has, till now, conducted 9 funding rounds successfully. The company has been able to raise a fund of $934.5 million. It shows the amount of faith the investors have in the company’s operational business model and future aspect.
Delhivery is one of the largest and most established independent start-ups engaged in logistics.
The company is heavily carrying out new investments and strategic acquisitions. It includes investment in Falcon Autotech, acquisition of Spoton Logistics, and acquisition of Transition Robotics Inc. for drone technology.

Apply For Delhivery IPO with Zerodha

WEAKNESS AND THREATS OF DELHIVERY IPO:

Delhivery relies completely on its operations in the field of commercial, automated, and an establishment of a unified network infrastructure. This accounts for a major part of their logistics and transportation business operation.
The company is vulnerable to any delay associated with the logistics and transportation infrastructure. It can lead to a negative impact on the company upfront on operations and financial performance.
Heightened risk of the inefficiency of their Third-party business operation can lead to a large impact on the operational and financial performance of the company.
The company also has high reliability on their E-Commerce customer base. It accounts for around 78% of their business revenue.
Delhivery is engaged in a business that is highly fragmented along with fierce competition from many organized as well as unorganized business players. Any news that could hurt the company’s sentiment will lead to a shift in its market share.
Delhivery’s large amount of revenue is from large clients. The retention of these clients and the addition of the other clients that contribute majorly to their revenue is a challenge for the company.
The company operates in a business segment where it has been subject to many kinds of guidelines, regulations, and rules for the operation of the company’s business.
Delhivery is also subject to attack on their Database Management system, IT support system, and Logistics and transport division inefficiency as their major challenges.
Like all sectors, the COVID-19 pandemic has impacted the E-commerce sector; However, there is a buzz of a growing trend of E-commerce. Still, the imbalance in supply and demand has created a significant impact on the company’s business operation.
Delhivery’s logistics premises are on the lease, and some discrepancy issues. Any negative news upfront on this aspect will lead to a detrimental impact on the company’s image.

FINANCIAL TRENDS OF DELHIVERY IPO:

Particulars	For the year with amount ending in Crores
	30-Jun-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	6,582.19	4,597.80	4,357.31	4,062.54
Total Revenue	1,364.01	3,838.29	2,988.63	1,694.87
Loss After Tax	129.58	415.74	268.93	1,783.30

PARAMETER	MARCH 21	MARCH 20	YoY %
Earnings Per Share (Rs)	-2545.88	-2758.22	7.70
CEPS(Rs)	-374.30	-136.77	-173.67
Book NAV/Share (Rs)	15955.75	30735.74	-48.09
Core EBITDA Margin (%)	-3.37	-6.19	45.52
EBIT Margin (%)	-8.97	-7.90	-13.59
Pre-Tax Margin (%)	-11.40	-9.67	-17.94
PAT Margin (%)	-11.40	-9.67	-17.88
Cash Profit Margin (%)	-1.68	-0.48	-249.52
ROA (%)	-9.29	-6.66	-39.34
ROE (%)	-14.84	-8.57	-73.12
ROCE (%)	-9.96	-6.36	-56.67
Asset Turnover(x)	0.81	0.69	18.20
Sales/Fixed Asset(x)	2.27	3.28	-30.90
Working Capital/Sales(x)	1.94	1.47	32.02
Fixed Capital/Sales(x)	0.44	0.30	44.71
Receivable days	59.85	53.56	11.76
Inventory Days	2.19	2.66	-17.49
EV/Net Sales(x)	0.02	-0.04	141.58
EV/Core EBITDA(x)	0.89	-3.10	128.53
EV/EBIT(x)	-0.19	0.51	-136.61
EV/CE(x)	0.01	-0.03	151.68
Net Sales Growth (%)	31.14	68.12	-54.28
Core EBITDA Growth (%)	91.17	102.17	-10.77
EBIT Growth (%)	-48.97	87.48	-155.98
PAT Growth (%)	-54.59	84.83	-164.36
EPS Growth (%)	7.70	85.09	-90.95
Total Debt/Equity(x)	0.11	0.08	34.87
Current Ratio(x)	2.97	3.77	-21.17
Quick Ratio(x)	2.94	3.74	-21.35
Interest Cover(x)	-3.69	-4.46	17.27

PRINCIPAL SHAREHOLDERS’S HOLDING:

Pre-Issue Share Holding	15%
Post Issue Share Holding

CONTACT DETAILS:

Delhivery Limited
N24-N34, S24-S34, Air Cargo Logistics Centre-II,
Opposite Gate 6 Cargo Terminal,
Indira Gandhi International Airport,
New Delhi 110037 Delhi, India
Tel: +91 124 6225602
E-mail: cscompliance@delhivery.com
Website: www.delhivery.com

REGISTRAR:

Link Intime India Private Limited
C 101, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: delhivery.ipo@linkintime.co.in
Website: www.linkintime.co.in

LEAD MANAGER(S)

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UPL Buyback 2022 Details At TradingBuzzr.Com

BuyBacks

Team TradingBuzz₹

-

May 8, 2022

1

UPL Limited as a company was established on January 02, 1985. The Company’s initial name was United Phosphorus Limited. The headquartered of the Company are in Mumbai, Maharashtra. After being known as UPL Limited, the Company is an Indian MNC that has been engaged in the business of agrochemicals and industrial chemicals manufacturing. The Company also manufactures chemical intermediates. The Company also provides food value chain services and digital and technological solutions in chemical production and operation. The major source of the Company’s revenue is its agro business-based business. Checkout UPL buyback 2022 price, size, buyback acceptance ratio and more details.

Under this business vertical, the Company carries out the manufacturing and marketing of conventional agrochemical products, Crop Protection Solutions, high-quality seeds, BioSolutions, Post-Harvest Solutions, Soil & Water Technologies, and other products that have been used in the agricultural industry. The Company generates around $ 5 billion from the agrochemical segment. UPL, with its strong market presence and established business operations, is amongst the top 5 agricultural solutions provider on a global level. The Company has a reached more than 90% of the world’s food basket.

UPL Limited has 23 manufacturing sites that have been spread in different countries. The majority of their manufacturing plants, around nine, are in India. The Company also operates four manufacturing plants in France, two special phosphates, and another chemical manufacturing plant in Spain. UPL has a market share in every continent of the world and has a huge customer base in 123 countries.

The Company has a huge business engagement, and to carry it out, they have led to the formation of the subsidiary offices in Argentina, Australia, Brazil, Bangladesh, Denmark, China, France, Canada, Germany, Japan, Hong Kong, USA, Russia, Netherlands, and many more countries. The Company also offers s, High-Quality Seeds.

UPL Limited, on a consolidated basis in the last twenty-five years of its business operation, has carried out an acquisition of 40 companies. As of now, the Company has 10,000 plus employees on payroll terms with 13,932 registrations.

NECESSITY OF THE ISSUE:

The objective of the Buyback of the Company is:

To improve the financial matrix of the Company, such as ROE, RoCE
Reduction in the equity base of the Company
Long term increase and wealth creation for the Shareholders

UPL BUYBACK 2022 OFFER DETAILS:

Buyback Type	Open Market Buyback
Buyback Record Date	Open Market Buyback, so no record date as for tendering process
Buyback Offer Amount	Rs. 1100 Crores
Date of Board Meeting approving the proposal	02 March, 2022
Date of Public Announcement	02 March, 2022
Buyback Offer Size	1.65% of the equity capital of the company
Buyback Number of Shares	1,25,71,428 equity shares of the company
Listing	NSE, BSE
Face Value	Rs. 2
Buyback Price	Rs. 875 per equity share.
Buyback Opening Date	07 Apr 2022
Buyback Closing Date	06 Oct 2022

Reconciliation of equity share capital base of the Company considering the Pre and Post extinguishment of the equity shares
Particulars of the company	No. of equity shares	Equity Share Capital as in Rs.
Paid-up Equity Share Capital (Pre – Extinguishment)	76,40,45,456	1,52,80,90,912
Equity Shares extinguished	27,39,900	54,79,800
Equity Shares being extinguished	NA	NA
Paid-up Equity Share Capital (Post Extinguishment)	76,13,05,556	1,52,26,11,112

Check out the complete Buyback 2022 details here.

FINANCIAL TRENDS OF UPL BUYBACK 2022:

Particulars	For the year ending with the amount as in Rs. in Crores
	31 March 21	31 March 20	31 March 19
Total Income	11,458	10,147	9,220
Profit After Tax	220	461	405
Net Worth	7,786	8,024	7,972

PARAMETER	MARCH 21	MARCH 20	YoY %
Earnings Per Share (Rs)	37.53	23.22	61.66
CEPS (Rs)	73.54	54.73	34.37
DPS (Rs)	10.00	6.00	66.67
Book NAV/Share (Rs)	233.99	213.03	9.84
Tax Rate (%)	16.57	21.22	-21.91
Core EBITDA Margin (%)	18.32	16.15	13.45
EBIT Margin (%)	13.60	10.50	29.52
Pre – Tax Margin (%)	9.08	6.58	37.94
PAT Margin (%)	7.58	5.19	46.08
Cash Profit Margin (%)	12.34	9.98	23.64
ROA (%)	5.03	3.32	51.43
ROE (%)	20.19	14.03	43.97
ROCE (%)	13.40	9.59	39.69
Asset Turnover (x)	0.66	0.64	3.66
Sales/Fixed Asset (x)	0.98	0.96	1.53
Working Capital/Sales (x)	4.36	3.34	30.68
Fixed Capital/Sales (x)	1.02	1.04	-1.51
Receivable days	97.92	102.45	-4.42
Inventory Days	69.15	73.90	-6.42
Payable days	217.50	195.52	11.24
PER (x)	17.11	14.06	21.71
PCE (x)	8.73	5.96	46.43
Price/Book (x)	2.74	1.53	79.13
Yield (%)	1.56	1.84	-15.29
EV/Net Sales (x)	1.76	1.31	33.81
EV/Core EBITDA (x)	7.89	6.67	18.38
EV/EBIT (x)	10.96	10.65	2.88
EV/CE (x)	0.99	0.69	44.10
M Cap / Sales	1.27	0.70	81.81
Net Sales Growth (%)	8.22	63.74	-87.11
Core EBITDA Growth (%)	22.32	72.14	-69.06
EBIT Growth (%)	40.76	59.74	-31.77
PAT Growth (%)	58.76	39.33	49.38
EPS Growth (%)	61.66	-20.59	399.44
Total Debt/Equity (x)	1.13	1.49	-23.87
Current Ratio (x)	1.53	1.75	-12.58
Quick Ratio (x)	1.05	1.28	-17.95
Interest Cover (x)	3.01	2.68	12.27
Total Debt/Mcap (x)	0.48	1.15	-58.09

UPL BUYBACK 2022 CALCULATION OF ACCEPTANCE RATIO:

The calculation for the buyback offer has been done considering that the investor buys 228 equity shares of the Company at a market price of Rs. 689.

Acceptance Ratio	Investment	Shares Buyback	Profit
33%	Rs. 157,092	75	Rs. 13,950
50%	Rs. 157,092	114	Rs. 21,204
75%	Rs. 157,092	171	Rs. 31,806
100%	Rs. 157,092	228	Rs. 42,408

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MARKET SUBJECT:

The Board of the Company has approved the proposal to buy around 14.56 percent of the equity capital base of the Company. The Company stated that it would be spending around 5.71 percent of its free reserves for carrying out the buying process. The buyback is Rs. 1,000 crores at Rs. 875 per equity share of the Company. On the day of the event’s announcement, the shares of the Company tanked up by four percent and ended the day with Rs. 689 per equity share. The company board also stated that the minimum purchase via the open market for the buyback is 62,85,714 equity shares. The Company also stated that if the equity shares have been bought back at a well below the buyback price, it will enhance their buyback size in terms of the Company’s equity shares. Currently, as of the latest shareholding pattern of the Company, the promoters of the Company hold 28 percent while the institutional players hold a total of 61 percent. The retail investors only hold 11 percent of the equity of the Company. Holding.

On May 06, the stock performed as:

Open: Rs. 815
High – Low: Rs. 815 – Rs. 779.45
Previous Close: Rs. 823.25
Total Traded Value: 3256336
Close: Rs. 786.85
Chane of: -Rs. 36.40 (-4.42%)

COMPANY ADDRESS:

UPL Limited

UPL House, 610 B/2,

Bandra Village,

Off Western Express Highway,

Bandra (East),

Mumbai 400 051 India

Toll-Free number: 1800 102 1199

Email ID: global.enquires@upl-ltd.com

website: https://www.upl-ltd.com/

REGISTRAR OF THE BUYBACK:

Link Intime India Private Limited

C-101, 247 Park, LBS Marg,

Vikhroli (West), Mumbai – 400 083

Contact No: +91-22-49186270

Fax No: +91-22-49186060

Email: rnt.helpdesk@linkintime.co.in

Website: https://linkintime.co.in/

MANAGER OF THE BUYBACK:

JM Financial Limited

Address: 7th Floor, Cnergy,

Appasaheb Marathe Marg, Prabhadevi,

Mumbai – 400 025, Maharashtra, India

Tel: +91 22 6630 3030

Fax: +91 22 6630 3330

Contact Person: Prachee Dhuri

Email: upl.buyback@jmfl.com

Website: www.jmfl.com

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Muthootu Mini Financiers NCD – Here’s All You Need To Know

NCD

Team TradingBuzz₹

-

May 8, 2022

0

Muthoottu Mini Financiers Limited is a company that is engaged in the business of finance and lending. The Company is an RBI registered Non-Banking Financial Company that majorly operates in the gold loan industry. The Company carries out the lending of the money in exchange for the gold in the form of jewelry pledged by the customers. Let’s delve deep into understanding some key elements about the Muthootu Mini Financiers NCD details.

Muthoottu Mini Financiers Limited also offers gold loans, microfinance, fixed deposits, money-based transfer service schemes, online gold loans, and insurance and banking solutions. The Company has a great market presence in the Southern part of the country with sheer dominance in Kerala, Andhra Pradesh, Tamil Nadu, Telangana, and Karnataka. Along with these states, it also carries out its business operation in Haryana, Gujarat, Maharashtra, Delhi, and Goa.

Muthoottu Mini Financiers Limited is a Flag Ship Company part of the M Mathew Muthoottu Group. The Company holds 4,22,073 Gold Loan accounts under its operation That has been managed through a network of 804 branches. The Company’s majority of the branches, which calculates for 61% of the Company’s branches, around 490 branches, are in rural and semi-urban areas of Southern India, where the gold loans are very popular.

The total gold loans of the Company account for a sum of Rs. 2,033.66 crores, which is 97.41 percent of their total loans and advances as per the Company’s balance sheet. The Company also stated that the yield on the gold loan assets of the Company had been valued at a return of 19.39 %. In addition to the gold loan business of the Company, it also offers microfinance loans, money transfer, depository participant, broking services, insurance, PAN card related, and travel agency services.

OBJECTS OF THE ISSUE:

The Company stated that the funds been raised from the proceeds of the NCD would be utilized to:

For onward lending.
Financing along with the repayment and the prepayment of the interest and the principal of the outstanding dues of the Company.
General Corporate Purposes.

MUTHOOTTU MINI FINANCIERS NCD 2022 DETAIL:

After approving the NCD offer, the Company’s board has been coming up with their 17th debt-based NCD offer since February 2014. The Company’s last debt-based NCD offer was in December 2021. The Company also stated that the funds raised via the NCD offer would be to part-finance the needs for carrying out the onward lending, repayment of the Company’s outstanding loans, and financing its business. The Company stated that it would grant around 75% of the net issue collections from the NCD offer for the same.

The Company will also use the rest 25% for general corporate purposes. The NCD offer of the Company is a Rated, Secured, Transferable, and Redeemable Non-Convertible Debentures (NCDs) of price been fixed at Rs. 1000 each. The Company aims to raise around Rs. 125.00 crores via this NCD offer. The NCD offer of the Company also holds a greenshoe option to retain oversubscription to the tune of Rs. 125.00 crores raised within the offer. As a result, the overall size of this NCD issue will be Rs. 250.00 crores. The minimum application made within this NCD offer is for 10 NCDs and in multiples of 1 NCD. Post allotment of the NCD, the shares will be listed on BSE.

This debt offering consists of 480 days, 24, 36, 48, and 66 months with offered coupon rates that range from 8.00% to 9.50% within the Monthly, Annually, and Cumulatively payment of the interests. The Company also stated that there is no option of Put and Call buying and writing for this debt-based NCD issue. Also, the Company stated that no portion of the NCD offer has any reservation. Click on this link to get details about discount stock brokers.

Issue Open	Apr 20, 2022 to May 17, 2022
Security Name	Muthoottu Mini Financiers Limited
Security Type	Secured, Redeemable Non-Convertible Debentures
Base Issue Size	Rs. 125.00 Crores
Shelf Issue Size	Rs. 125.00 Crores
Issue Price	Rs. 1000 per Non-Convertible Debentures
Face Value	Rs. 1000 each Non-Convertible Debentures
Minimum Lot size of NCD	10 NCD that corresponds to Rs.10,000
Market Lot of the NCD	1 NCD
Listing At	BSE
Credit Rating	CARE BBB+ by CARE Ratings Limited
Tenor of the NCD	480 Days along with 24, 36, 48 and 66 Months
Series	Series I to VI
Payment Frequency of the NCD	Monthly and Cumulative
Basis of Allotment of the NCD	First Come, First Serve Basis

Muthoottu Mini Financiers NCD 2022 – Options and Coupon Rates

Options	Tenure	Frequency of Interest Payment	Coupon (% per annum) for NCD Holders in Category I, II, III & Iv	Redemption Amount (₹ /NCD) on Maturity for NCD Holders in Category I, II, III & IV (%)	Effective Yield for NCD Holders in Category I, II, III & IV (%)	Put and Call Option
I	480 days	Monthly	8.00%	Rs. 1,000	8.30%	NA
II	24 months	Monthly	8.50%	Rs. 1,000	8.84%	NA
III	24 months	Cumulative	NA	Rs. 1,186	8.90%	NA
IV	36 months	Cumulative	NA	Rs. 1,304	9.25%	NA
V	48 months	Monthly	9.50%	Rs. 1,000	9.92%	NA
VI	66 months	Cumulative	NA	Rs. 1689	10.00%	NA

MUTHOOTTU MINI FINANCIERS NCD ALLOCATION RATIO:

Category of the Allocation	NCD Allocation	NCD’s Reserved
Institutional Investors	10%	125,000
Non-Institutional Investors	40%	500,000
High Net worth Investors	0%	0
Retail Investors	50%	625,000
Total NCD’s	100 %	1,250,000

APPLY FOR AN IPO WITH PAYTM MONEY

COMPANY FINANCIALS:

Particulars	For the year ending with the amount as in Rs in Lakhs
	31 March 21	31 March 20
Total Assets	2,52,348.05	2,02,564.73
Total Revenue	36,825.38	31,315.27
Profit After Tax	3,191.14	3,354.18

COMPANY PROMOTERS:

The promoters of the Company are as follows:

Nizzy Mathew
Mathew Muthoottu

MUTHOOTTU MINI FINANCIERS NCD RATING:

The debt-based NCD offer of the Company has been proposed to be issued under the Issue as CARE BBB+. The CARE Rating Agency has rated the NCD offer with a commentary of a Stable Outlook. The rating agency also stated a moderate degree of safety with the NCD Debt offer. Though it is the 17th debt-based NCD offer by the Company since February 2014, this offer’s coupon rates are less than the previous NCD offers. However, the Company is issuing secured NCDs, which are safe compared to unsecured NCDs. But in light of the coupon rate, only the high-risk investors should consider applying for this offer, while the Moderate to low-risk investors shall avoid this NCD offer. It is on account of the investor’s issue regarding timely servicing of the financial obligations and the moderate risk associated with the credit.

READ ABOUT: Dhani Loans And Services NCD Details[April 2022]

COMPANY CONTACT INFORMATION:

Muthoottu Mini Financiers Limited
65/623-K,
Muthoottu Royal Towers,
Kaloor, Kochi, Kerala – 682 017
Phone: +91 484 291 2100
Email: cs@minimuthoottu.com
Website: https://www.muthoottumini.com/

MUTHOOTTU MINI FINANCIERS NCD APRIL 2022 REGISTRAR:

Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S. Marg,

Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: mmfl2022.ncd1@linkintime.co.in
Website: https://linkintime.co.in/

MUTHOOTTU MINI FINANCIERS NCD APRIL 2022 LEAD MANAGER(S):

Vivro Financial Services Private Limited

Dhani Loans And Services NCD Details[April 2022]

NCD

Team TradingBuzz₹

-

May 4, 2022

2

Dhani Loans and Services Limited was incorporated in 1995. Dhani Loans and Services Limited is a non-deposit taking systemically an important NBFC of the country registered with the RBI. The Company is engaged in the business activity of providing digital healthcare and finance products. It accounts for delivering its services through its application platform known as Dhani App. In this article, we take a closer look at the Dhani Loans and Services NCD Details and its possible future prospects.

Dhani Loans and Services Limited also offers personal loans and secured and unsecured business loans to majorly individuals to establish a small-scale business of their own. It provides the same facility to the corporates also. Dhani Loans and Services Limited is a full 100% subsidiary company of Dhani Services Limited. Earlier, the Company was known as the Indiabulls Consumer Finance Limited. As per the latest reports, the Company holds 2.42 million subscribers to their unique solution of providing financial assistance via Dhani OneFreedom Card. The Company has a strong and growing presence in over 700 cities and towns.

The Company has provided the services are as follows:

Secured MSME loans
Unsecured MSME loans

Dhani Loans and Services Limited is also associated with the Indiabulls Investment Advisors Limited to market non-discretionary wealth management. The Company also holds an association with the Indiabulls Alternate Investments Limited for:

Residential mortgages
SME financing
Loans against property
Asset management
Asset reconstruction
Life insurance
General insurance

OBJECTS OF THE ISSUE:

The Company stated that the funds been raised from the proceeds of the NCD would be utilized to:

For onward lending.
Financing along with the repayment and the prepayment of the interest and the principal of the outstanding dues of the Company.
General Corporate Purposes.

DHANI LOANS AND SERVICES NCD DETAIL:

After approving the NCD offer, the Company’s board has been coming up with their fifth debt-based NCD offer since February 2019. The Company’s first three debt offers were Indiabulls Consumer Finance Limited, while the last two were Dhani Loans and Services limited. The Company also stated that the funds raised via the NCD offer would be to part financing the needs for carrying out the onward lending and the financing of its business. The Company stated that it would grant around 75% of the net issue collections from the NCD offer. The Company will also use the rest 25% for general corporate purposes.

The NCD offer of the Company is a Rated, Secured, Transferable and Redeemable Non-Convertible Debentures (NCDs) of price been fixed at Rs. 1000 each. The Company aims to raise around Rs. 100 crores via this NCD offer. The NCD offer of the Company also holds a greenshoe option to retain oversubscription to the tune of Rs. 100 crores raised within the offer. As a result, the overall size of this NCD issue will be Rs. 200 crores. The minimum application made within this NCD offer is for 10 NCDs and in multiples of 1 NCD. Post allotment of the NCD, the shares will be listed on BSE and NSE.

This debt offering consists of 370 days, 24 and 36 months with offered coupon rates that range from 10.00% to 11.00% within the Monthly, Annually and Cumulatively payment of the interests. The Company also stated that there is no option of Put and Call buying and writing for this debt-based NCD issue. Also, the Company stated that no portion of the NCD offer has any reservation.

Also Check : List of Mainboard IPO’s in India .
Also Check : List of Upcoming SME IPO’s in India.

Issue Open	April 19, 2022 to May 10, 2022
Security Name	Dhani Loans and Services Limited
Security Type	Secured, Redeemable Non-Convertible Debentures
Base Issue Size	Rs. 100.00 Crores
Shelf Issue Size	Rs. 100.00 Crores
Issue Price	Rs. 1000 per Non-Convertible Debentures
Face Value	Rs. 1000 each Non-Convertible Debentures
Minimum Lot size of NCD	10 NCD that corresponds to Rs.10,000
Market Lot of the NCD	1 NCD
Listing At	BSE, NSE
Credit Rating	IVR AA/ Stable Outlook
Tenor of the NCD	370 days, 24 months and 36 months
Series	Series I to VII
Payment Frequency of the NCD	Monthly, Annual and Cumulative
Basis of Allotment of the NCD	First Come, First Serve Basis

Options	Tenure	Frequency of Interest Payment	Coupon (% per annum) for NCD Holders in Category I, II, III & Iv	Redemption Amount (₹ /NCD) on Maturity for NCD Holders in Category I, II, III & IV (%)	Effective Yield for NCD Holders in Category I, II, III & IV (%)	Put and Call Option
I	370 days	Cumulative	NA	Rs. 1,101. 44	10.00%	NA
II	24 months	Annual	10.50%	Rs. 1,000	10.49%	NA
III	24 months	Cumulative	NA	Rs. 1,221.36	10.50%	NA
IV	24 months	Monthly	10.03%	Rs. 1,000	10.50%	NA
V	36 months	Annual	11.0%	Rs. 1,000	10.99%	NA
VI	36 months	Cumulative	NA	Rs. 1368.05	11.00%	NA
VII	36 months	Monthly	10.49%	Rs. 1,000	11.00%	NA

DHANI LOANS AND SERVICES NCD ALLOCATION RATIO:

Category of the Allocation	NCD Allocation	NCD’s Reserved
Institutional Investors	30%	300,000
Non-Institutional Investors	10%	100,000
High Net worth Investors	30%	300,000
Retail Investors	30%	300,000
Total NCD’s	100 %	1,000,000

PROMOTERS OF DHANI LOANS AND SERVICES LIMITED:

The promoters of the Company are as follows:

Dhani Services Limited

STRENGTHS OF THE COMPANY:

The Company has the backing of an Experienced promoter’s base that has been helped and managed by reputed board members. The Company benefits a lot from the strong experience that has helped it scale up its operations and form a proper channel for risk management in the business.
Dhani Loans and Service s Limited has a comfortable capitalization and a strong resource-raising ability. The Company has managed to scale up their tangible Net Worth to Rs. 4263.37 Crores in March 2020. The Company has recorded a great success as far as the capital infusion is considered via raising funds from promoters and the Company’s investors.
The Company also holds an adequately matched asset-liability profile with a strong linkage between its investors and PE firms.
The Company’s Global Depository Receipts have been listed on the Luxembourg Stock Exchange, which provides a significant risk cushion for their business operation in India. The Company also registered an improvement in their Gearing Ratio Matrix by reducing the borrowings.
Dhani Loans and Services Limited also has better income and financial parameters due to the improvement in their Net Interest Margins and growth in their Loan Book.

WEAKNESS OF THE COMPANY:

In the last few quarters, the Company registered aReduction in their loan portfolio. This decline is due to the sale of loan assets and the derecognition of such assets from their loan books. The Company also estimated that it would have gained on the sale of its loan portfolio, which summed to Rs. 616.69 Crores.
Dhani Loans and Services has also securitized its loan assets in unrelated entities.
The major weakness of the Company is their Moderate Asset Quality. The Gross Non-Performing Assets of the Company were increased to 1.93% compared to 0.80%. Similarly, the while the Net Non-Performing Assets of the Company are currently at 0.74%. The increase in the NNPA and GNPA of the Company is due to the reduction in the portfolio size of the Company.
The COVID-19 global pandemic has severely impacted Dhani Loans and Service, like other NBFCs. The pandemic brought in a decline along with the volatility in global and on account of staggering economic activity. The lower lending opportunity impacted the business operation on financial and operational terms with the decline in collection efficiency.

DHANI LOANS AND SERVICES NCD RATING:

The NCD offers brought by the Company have been rated as IVR AA/ with a Stable Outlook. Infomerics Valuation and Rating Private Limited have done the rating of the NCD offer. The rating agency has assigned a stable outlook with no such impressive commentary from their side. Rather the rating agency also accounted that the Company holds a degree of safety in terms of the timely servicing of its financial obligations and the carry-over of low credit risk.

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COMPANY FINANCIALS:

Particulars	For the year ending with the amount as in Rs in Millions
	31 March 21	31 March 20	31 March 19
Total Assets	83,107.57	97,281.77	138,007.40
Total Revenue	11,766.94	26,836.81	17,752.29
Profit After Tax	-1,158.26	-374.27	3,845.16

DHANI LOANS CONTACT DETAILS:

Dhani Loans and Services Limited
Indiabulls House, One International Centre,
Senapati Bapat Marg,
Elphinstone Road, Mumbai – 400 013
Phone: 91 22 6189 1000, + 91 22 6144 6344,
Email: ncdsupport@dhani.com
Website: www.dhaniloansandservices.com

DHANI LOANS NON-CONVERTIBLE DEBENTURES REGISTRAR:

KFin Technologies Private Limited
Selenium Tower B, Plot 31-32, Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Email: dhaniloans.ncdipo@kfintech.com
Website: www.kfintech.com

DHANI LOANS AND SERVICES NCD APRIL 2022 LEAD MANAGER(S):

Sonu Infratech IPO Analysis Details

SME IPO

Team TradingBuzz₹

-

May 4, 2022

0

Sonu Infratech Limited is a company engaged in the business operation of Civil Construction Services. The company’s major source of revenue is derived from the business segments of Civil Construction, which includes the construction of the Buildings, Mechanical Scaffolding, Maintenance, and Repairs of the plants. The company in the maintenance segment provides services such as piling and excavation. Recently, Sonu Infratech also started a new business vertical of road preparation, land leveling, and structural painting. The company has been in years of business in building construction for commercial and industrial projects. In this article, we take a closer look at the Sonu Infratech IPO Details and its possible future prospects.

The company holds a tender of the Plant maintenance at various Reliance Plants. It carries out Plant maintenance at Reliance DTA, Reliance SEZ, Reliance MTF, Reliance J3 fields of C2 Complex, PCG SEZ, PCG DTA, and Rubber Plants. It also holds a long-term tender with the Nayara Maintenance in the form of jobs such as plumbing, electrification, and the cleaning of vessels. Sonu Infratech Limited also owns its plants. The company carries out the business operation of these plants, the machinery present in the plants, and vehicles owned by the company for all types of networks and support in the form of logistics and distribution and network set up of civil construction and infrastructure projects. Sonu Infratech Limited majorly operates on the contract-based model, and it has been classified as a class “C” contract company. It allows the company to bid on any military segment construction and maintenance and repair work in the country. To backup this advantage, the company has completed various contracts awarded to the company regarding Military Engineering Services.

Some of the Competitive Strengths of the company are as follows:

Sonu Infratech Limited has established itself as a reputed brand with a solid and pure image.
The company holds Domain expertise along with technical excellence.
Sonu Infratech Limited has an impeccable track record that has helped the company bag multiple orders.
The company has also got the advantage of operating in the Military Engineering Services.

Along with these advantages, there are some loopholes and challenges to the company, which are as follows:

Based on its improved financial data in recent years, the IPO issue offer of the company is fully priced.
The company operates in a highly growing, competitive, and fragmented segment. It experiences competition from many firms that are organized and a big scale firm as L&T and other growing small-cap firms.
The company holds a cash surplus that is good unless it accounts for the parking of funds from a long-term perspective.

OBJECTS OF THE IPO ISSUE:

Prepayment of all the company’s loans, which be availed on a consolidated basis.
To meet corporate targets.
To fund the working capital requirement.

SONU INFRATECH IPO DETAILS:

Sonu Infratech Limited recently got approval from SEBI to launch its IPO in the market. The company stated that it would raise around Rs from the funds raised by the issuance of the fresh equity of 2,400,000 equity shares of the company in the IPO offer. 8.64 crores. The company also stated that it would utilize around Rs. 6.24 crores for the needs for incremental working capital of the company. It also stated that it would utilize another Rs. 2.0 crores for corporate purposes. The IPO offer of the company is a fixed price issue type IPO that has been priced at Rs. 36 per equity share. Post allotment, the company’s shares will be listed on the NSE SME Emerge platform. The company also stated that the issue constitutes 30.57% of the company’s post-issue fully paid-up equity capital base.

Sonu Infratech Limited also stated that after issuing an initial equity capital at par with the company, further equity was issued at Rs. 30 per equity share. The average cost of acquiring the stake of the company’s promoters is a face value of Rs. 10 per equity share. Post-IPO, the company’s current fully paid-up equity capital base will enhance to Rs. 7.85 crores. Based on the valuations of the IPO, the company aims to achieve a market capitalization of Rs. 28.26 crores. Check Day by Day IPO Subscription Details (Live Status)

Sonu Infratech IPO Open Date	April 29, 2022
Sonu Infratech IPO Close Date	May 5, 2022
Issue Type	Fixed Price Issue type IPO
Sonu Infratech IPO Face Value	Rs. 10 per equity share
Sonu Infratech IPO Price	Rs. 36 per equity share
Sonu Infratech IPO Lot Size	One lot of 3000 equity shares of the company
Minimum Order Quantity	3000 equity shares of the company
Minimum Order Price	Rs. 108,000
Maximum Order Quantity	3000 equity shares of the company
Maximum Order Price	Rs. 108,000
Issue Size	2,400,000 equity shares of the company aggregate to a sum of Rs. 8.64 Crores
Fresh Issue	2,400,000 equity shares of the company aggregate to a sum of Rs. 8.64 Crores
Listing At	NSE SME
Retail Shares Offered	50% of the net offer
NII (HNI) Shares Offered	50% of the net offer
Company Promoters	Mr. Ramji Shrinarayan Pandey Mr. Ketan Vallabhdas Modi
Basis of Allotment	May 10, 2022
Initiation of Refunds	May 11, 2022
The Credit of Shares to Demat	May 12, 2022
Sonu Infratech IPO Listing Date	May 17, 2022

FINANCIAL TRENDS:

Particulars	For the year ending with the amount as in Rs in Lakhs
	31 Oct 21	31 Mar 21	31 Mar 20	31 Mar 19
Total Assets	5,503.07	4,319.18	2,902.96	2,696.21
Total Revenue	3,239.50	4,076.69	4,114.07	3,412.77
Profit After Tax	104.27	139.80	66.01	64.47

Earnings Per Share (Rs)	2.57	1.21	111.79
CEPS (Rs)	7.03	5.95	18.14
DPS (Rs)	0.00	0.00	0.00
Book NAV/Share (Rs)	16.95	14.38	17.84
Tax Rate (%)	27.49	26.01	5.67
Core EBITDA Margin (%)	13.98	11.36	22.97
EBIT Margin (%)	8.60	5.46	57.51
Pre -Tax Margin (%)	4.76	2.18	118.58
PAT Margin (%)	3.45	1.61	114.22
Cash Profit Margin (%)	9.46	7.91	19.50
ROA (%)	3.87	2.36	64.07
ROE (%)	16.38	8.79	86.26
ROCE (%)	11.42	10.22	11.69
Asset Turnover (x)	1.12	1.47	-23.41
Sales/Fixed Asset (x)	2.54	4.18	-39.27
Working Capital/Sales (x)	11.68	8.37	39.45
Fixed Capital/Sales (x)	0.39	0.24	64.67
Receivable days	86.58	85.42	1.36
Inventory Days	69.81	29.60	135.86
Payable days	101.53	165.00	-38.47
EV/Net Sales (x)	0.78	0.56	39.48
EV/Core EBITDA (x)	5.34	4.76	12.33
EV/EBIT (x)	9.07	10.24	-11.45
EV/CE (x)	0.73	0.79	-7.45
Net Sales Growth (%)	-1.14	20.13	-105.66
Core EBITDA Growth (%)	22.76	100.94	-77.45
EBIT Growth (%)	55.71	46.27	20.40
PAT Growth (%)	111.79	2.39	4579.77
EPS Growth (%)	111.79	2.39	4579.77
Total Debt/Equity (x)	2.87	2.23	28.51
Current Ratio (x)	1.16	1.44	-19.49
Quick Ratio (x)	0.67	1.01	-33.18
Interest Cover (x)	2.24	1.66	34.60

Particulars (in Lakhs)	7 M FY22	March 21	March 20	March 19
Sales	3,229	4,051	4,098	3,411
Consumption of Material Consumed	1,594	1,776	972	730
Changes in Inventories	-838	-590	-295	-55
Employee Benefits Expense	1,395	1,385	1,726	1,395
Other Expenses	601	916	1,229	1,103
Operating Profit	477	564	466	238
OPM %	14.77%	13.92%	11.37%	6.98%
Other Income	10	26	16	2
Finance Cost	118	154	135	68
Depreciation	225	243	258	87
Profit before tax	145	193	89	85.00
Total Tax Exps	40	53	23	21
Net Profit	104	140	66	64
NPM %	3.22%	3.46%	1.61%	1.88%
No. of shares	78.50	78.50	78.50	78.50
EPS	1.91	2.57	1.21	1.18

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VALUATIONS OF THE COMPANY:

Average EPS = Rs. 1.88
Average RoNW = 11.87%
P/BV = 2.12
NAV = Rs. 16.95
Post-IPO NAV = Rs. 23.59
Asking P/E = 15.79

COMPARISON WITH PEERS:

Name of the Company	Sales as in Crores	PAT as in Crores	EPS	PE	RoCE	Market cap as in Crores	Returns 3Y	Sales Growth of last 3Years
Sonu Infratech Limited	64	2	2.55	14.03	5.09%	28	–	89.32%
RPP Infra Projects Limited	690	21	6.55	8.26	11.40%	169	-55%	18.76%
Shashijit Infraprojects Limited	27	0.06	-0.12	-257	1.88%	23	-24%	2.40%

SONU INFRATECH PROMOTERS:

The promoters of the company are as follows:

Mr. Ramji Shrinarayan Pandey
Mr. Ketan Vallabhdas Modi

Pre-Issue Share Holding	94.28%
Post Issue Share Holding	65.45%

Also Read : List of Upcoming SME IPO’s in India.

COMPANY CONTACT INFORMATION:

Sonu Infratech Limited
Platinum 404,
4th Floor Park Colony,
Opp. Joggers Park Jamnagar -361008,
Phone: 0288 2555089
Email: info@sonuinfratech.com
Website: http://www.sonuinfratech.com/index.html

SONU INFRATECH IPO REGISTRAR:

Skyline Financial Services Private Ltd
Phone: 02228511022
Email: compliences@skylinerta.com
Website: https://www.skylinerta.com/

SONU INFRATECH IPO LEAD MANAGER(S):

Swastika Investmart Ltd

LIC IPO – Check Issue Date, Price, Lot Size & Details

Main board IPO

Team TradingBuzz₹

-

May 3, 2022

0

LIC, which stands for Life Insurance Corporation, is the largest insurance company in India. LIC also holds the largest portfolio of Assets Under Management (AUM). The company also holds more than 66.2% of the life insurance sector. In this article, we take a closer look at the LIC IPO Details and its possible future prospects.

The service portfolio of the company includes 32 individual products:

Sixteen participating insurance products along with the 16 non-participating products.
The company also provides unit-linked insurance products such as saving insurance, term insurance, annuity & pension, health insurance, etc.
The company also provides the same insurance service in the group rider category.

As per various reports, the AUM of the company is currently at a valuation of Rs. 39 lakh crores. LIC has its own 2048 branches that 113 divisional offices have governed along with 1,554 Satellite Offices. The company also has a presence in many foreign countries such as Fiji, Mauritius, Singapore, Bangladesh, UAE, Nepal, Qatar, Sri Lanka, Bahrain, Kuwait, and the United Kingdom.

LIC, through its business operation and Corporation’s omnichannel distribution and network platform, also operates individual services that comprise:

Individual Agents
Bancassurance Partners
There are alternate channels by operation through corporate agents, insurance marketing firms, and brokers.
Digital sales
Micro Insurance agents
Point of Sales via Persons-Life Insurance scheme.

LIC, through its business operation, has penetrated the domestic market. The company is the most trusted brand globally, justifying its catch lines “Jindagi Ke Saath Bhi, Jindagi Ke Baad Bhi”. LIC, in no doubt, has made every effort to make a better India with their motto of “Har Pal Aapke Saath” in a true sense.

The Government of India announced the IPO plans of LIC in the Financial year Budget of 2020. Though finally, the IPO is coming up in 2022, as it took a while to calculate the perfect valuation along with the embedded and intrinsic Value of the company. Even after calculating the company’s valuations, the enormous size of the company makes it challenging for the company to carry out its comparison with the listed peers.

LIC initially came up with an offer that was yet for approval from the company’s board for an IPO offer of Rs. 68,000 crores but had to trim down the offered size to Rs finally. 21,000 crores due to the illiquid situation in global markets created due to the Russia-Ukraine war and the rising inflation that has slowed down the economy. With its IPO offer, the company will only carry out a dilution of around 3.5% of the equity of the company.

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OBJECTS OF THE IPO ISSUE:

To meet corporate targets.
The company also intends to fund various investments.
The company intends to create shareholders’ wealth by listing the company’s equity shares on the stock exchange via an OFS offer of 221,374,920 Equity Shares of the company.

BASIS OF THE IPO OFFER:

The basis of the IPO offer been brought by the LIC is as follows:

LIC is the 5th biggest company globally that has been engaged in the sector of life insurance in terms of the GWP.
The company holds a majority market share, creating a virtual monopoly in the rapidly growing business sector in the country.
LIC will be highly benefited by the underserved and the undertone of the growth in the Indian life insurance business.
The company is a reliable brand, and the business model is a customer-focused business model.
The company operates on a cross cyclical product mix and fulfills its diversified client base’s wide range of requirements. It also manages an individual product portfolio driven by the participation of the life insurance plans.
The company has created its solid presence due to an unrivaled agency force, which has helped them create a wide network throughout PAN India.
LIC has now also carried out digitalization and modern technology to help their customers connect with the generation of operational advantages.
The company is India’s biggest asset manager. The company has also exhibited a proven track record of financial and operational performance with profitable margins.
LIC has a solid risk management structure.
LIC has been managed by a team of highly-seasoned and skilled persons. A solid corporate governance framework leads the governing council of the company.

LIC IPO DETAILS:

LIC came up with their IPO has been defined by DIPAM. The IPO is to meet the Government of India’s program of disinvestment. LIC is coming out with its maiden IPO of 221374920 equity shares to create wealth for the shareholders, with retail shareholders as a priority. The company decided their price band for the IPO with Rs. 902 to Rs. 949. Through this IPO, LIC will aim to raise funds of Rs. 21008.48 crores at the valuations of the upper price band. Check Day by Day IPO Subscription Details (Live Status)

LIC stated that it had reserved 22137492 equity shares in the IPO offer for its policyholders. LIC also stated that it would be offering its policyholders a discount of Rs. 60 per equity share. The company has also reserved another 1581249 equity shares in the IPO Offer for its Employees. Post allotment after the IPO, the company’s equity shares will be listed on BSE and NSE. The IPO issue of the LIC constitutes 3.50% of the post-IPO fully paid-up equity capital base of the Corporation.

The company also stated that it had issued initial equity at par after converting its dividends for FY20 into the equity capital base of the company. Post-IPO offer of the company, LIC’s fully paid-up equity capital base will remain at the same valuation of Rs. 6325.00 crore only as the IPO Offer of the company is a purely OFS offer. The company aims at a market capitalization of Rs. 600242.28 crores on the upper cap of IPO pricing.

LIC IPO Open Date	May 4, 2022
LIC IPO Close Date	May 9, 2022
Issue Type	Book Built Issue type IPO
LIC IPO Face Value	Rs. 10 per share
LIC IPO Price	Rs. 902 – Rs. 949 per Equity Share
LIC IPO Lot Size	One lot of 15 Equity Shares of the company
Minimum Order Quantity	One lot of 15 Equity Shares of the company
Minimum Order Price	Rs. 14,235
Maximum Order Quantity	14 lots corresponding to 210 Equity Shares of the company
Maximum Order Price	Rs. 199,290
Issue Size	221,374,920 equity shares of the company corresponds to about Rs. 21,008.48 Crores
Offer for Sale	221,374,920 equity shares of the company corresponds to about Rs. 21,008.48 Crores
Retail Discount	Rs 45 per equity share
Employee Discount	Rs 45 per equity share
Listing At	BSE, NSE
QIB Shares Offered	No more than 50% of the Net Offer as in IPO
Retail Shares Offered	No less than 35% of the Net Offer as in IPO
NII (HNI) Shares Offered	No less than 15% of the Net Offer as in IPO
Company Promoters	The President of India, acting through the Ministry of Finance, Government of India, is the company promoter.
Basis of Allotment	May 12, 2022
Initiation of Refunds	May 13, 2022
Credit of Shares to Demat	May 16, 2022
LIC IPO Listing Date	May 17, 2022

Category	Bidding at	Max Bid Amount	Basis of Allotment	Discount	Final Price
HNI	At price	Rs 9,067 Cr	Proportionate	No	Rs 949
Retail	Cut-off	Not above Rs 2 lakhs	Draw of Lot	Rs 45 per share	Rs 904
Employee	Cut-off	Not above Rs 2 lakhs	Proportionate	Rs 45 per share	Rs 904
Policy Holders	Cut-off	Not above Rs 2 lakhs	Proportionate	Rs 60 per share	Rs 889

LIC IPO Multiple Applications

A LIC policyholder can apply for LIC IPO shares using 2 IPO applications in the following categories:

Policyholder + Retail Category
Policyholder + HNI (NII) Category

Also Read : List of Upcoming SME IPO’s in India.

The advantage associated with the LIC IPO Limits in Reserved Quotas:

Rs 2 lakh investment limit has been there for the policyholders, employees, and the retail investor’s quota.
The Policyholders can further exercise and benefit from increasing limits by bidding in as the “policyholders + retail” quota by putting Rs 2 + 2 lakhs.
The company’s Employees can Increase limits by bidding in the IPO as an “employee + policyholders + retail” quota hence exercising an advantage of putting Rs 2+2+2 lakhs.
Policyholders get a discount of Rs. 60 per equity share on the final offer price as in the IPO.
The company also stated that it would give a discount of Rs. 45 per equity share in retail as well as employees’ quota.

COMPARISON WITH PEERS:

Peers	Total Premium of the company as in Rs. Crores	Embedded Value of the company as in Rs. Crores	Market capitalization of the company as in Rs. Crores	Market Capitalization of the company /Embedded Value
Life Insurance Corporation of India	Rs. 4 Lakh Crores	Rs. 539000 Crores	Rs. 600000 Crores	1.11
SBI Life Insurance Company Limited	Rs. 50000 Crores	Rs. 30200 Crores	Rs. 110000 Crores	3.64
HDFC Life Insurance Company Limited	Rs. 38500 Crores	Rs. 29540 Crores	Rs. 123000 Crores	4.164
ICICI Prudential Life Insurance Company Limited	Rs. 35700 Crores	Rs. 30000 Crores	Rs. 75000 Crores	2.5

LIC IPO PROMOTER HOLDING:

The promoters of the LIC, Life Insurance Corporation of India, are as follows:

The President of India, acting through the Ministry of Finance, Government of India

Pre – Issue Share Holding	100%
Post Issue Share Holding	96.50%

CONTACT DETAILS OF LIC:

Life Insurance Corporation of India
Yogakshema, Jeevan Bima Marg,
Nariman Point, Mumbai 400 021,
Maharashtra, India
Tel: +91 22 6659 8732
E-mail: Investors@licindia.com
Website: www.licindia.in

REGISTRAR OF THE LIC IPO:

KFin Technologies Private Limited
Selenium, Tower B,

Plot No- 31 and 32
Gachibowli, Financial District
Nanakramguda, Serilingampally
Hyderabad 500 032
Telangana, India
Tel: +91 40 6716 2222
E-mail: lic.ipo@kfintech.com
Website: www.kfintech.com

LEAD MANAGER(S) OF LIC IPO

Kotak Mahindra Capital Company Limited
Axis Capital Limited
Nomura Financial Advisory and Securities, India Private Limited
ICICI Securities Limited
JM Financial Limited
BofA Securities India Limited
Citigroup Global Markets India Private Limited
Goldman Sachs (India) Securities Private Limited
J.P. Morgan India Private Limited
SBI Capital Markets Limited

Rainbow Children Medicare IPO Details

Main board IPO

Team TradingBuzz₹

-

April 29, 2022

0

Rainbow Children’s Medicare Limited is a multi-speciality hospital that operates in paediatrics, gynaecology and obstetrics via its hospital chain in India. The company is engaged in providing healthcare services for newborn and paediatric intensive care. The company also operates a paediatric multi-speciality service with a paediatric quaternary care unit. The company has also established an obstetrics and gynaecology centre in its hospital chain, where they carry out intensive and normal to complex treatment and multidisciplinary fetal care. In this article, we take a closer look at the Rainbow Children Medicare IPO Details and its possible future prospects.

Rainbow Children’s Medicare, under its hospital chain, currently operates 14 hospitals and three clinics. The healthcare facility of the company has been widespread in six cities, where it has a total bed capacity of 1,500 beds. The company first established its Healthcare facility in 1999. The company runs their operation on the business model of appointing full-time doctors and nursing staff in their hospitals so that any situation can be tackled. The company majorly operates in terms of children’s emergency and paediatric intensive care services can be provided. Currently, under the hospital chains of the company, it has 602 full-time doctors, with an additional service being provided by 1,686 visiting doctors.

Some of the Competitive Strengths of the company are as follows:

The company has exhibited an ability to conceptualize, operate and create special treatment services.
Rainbow Children’s Medicare is a leading paediatric multi-speciality healthcare chain. The company is known for its strong clinical expertise and handling of complex diseases.
The Hospital Chain under the company provides comprehensive perinatal care and the synergies between paediatric, obstetrics and gynaecology services.
Rainbow Children’s Medicare operates on a hub-and-spoke business model. It provides them with a perfect synergy and the belief in better care with better patient access.
The company has a strong track record of optimum operational performance and financial growth.
Rainbow Children’s Medicare greatly benefits from its experienced senior management team and the promoter base. The company also holds support from the PE firms, which are company shareholders.

OBJECTS OF THE IPO ISSUE:

Prepayment of all the company’s loans, which be availed on a consolidated basis.
To meet corporate targets.
To fund the working capital requirement.
The company also has an objective to fund their CAPEX Plan for a build-up of the new hospital and a facility of all highly innovative and modern machinery and types of equipment.
The company also intends to fund various investments and strategic acquisitions.

KEY PARAMETERS OF RAINBOW HOSPITALS:

KYC Parameter	2021	2020	2019
Bed capacity	1,475	1,296	1,162
Operational beds	1,132	1,001	931
Occupancy rate (%)	34.23%	56.27%	54.13%
Inpatient volume	51,165	66,871	53,422
Outpatient volume	624,111	941,049	787,345
Number of full-time doctors	593	596	498
Number of nurses	1,169	1,485	1,401
ARPOB (₹)	14,925,896	10,715,405	9,744,124
ALOS (days)	2.57	3.05	3.2
Basic EPS	4.36	5.98	4.83
RoE	8.82%	13.52%	11.98%
RoCE	10.48%	16.32%	11.68%

RAINBOW CHILDREN MEDICARE IPO DETAILS:

Rainbow Children’s Medicare Limited, a company with headquarters in Hyderabad, recently got approval from SEBI to float its IPO in the market. The company initially submitted their Draft Red Herring Prospectus (DRHP). The IPO offer of the company is Rs.280 Crores & 24,000,900 equity shares OFS. The company also stated that it is not looking to carry out any Pre-IPO placement. Check Day by Day IPO Subscription Details (Live Status)

The company further stated that it would utilize around Rs from the funds raised via the IPO offer. 40.0 Crores for early redemption of NCDs that have been issued to CDCEML. The company also stated that it holds a Capex Plan of Rs. 170 .0 Crores for setting up a new hospital with innovative and modern technology. The remaining funds will be utilized for general corporate purposes Post allotment, and the issued shares will be listed on BSE and NSE. The company also stated that the IPO issue constitutes around 28.74% of the company’s post-issue fully paid-up equity capital base. In the IPO offer, the company has reserved 300000 equity shares for its eligible employees with a discount of Rs. 20 per equity share so that they can get employee benefits. Post-IPO, the company’s current fully paid-up equity capital base will enhance to Rs. 101.50 crores. Also, on the upper price band valuations of the IPO, the company will target a market capitalization of Rs. 5501.30 crores.

IPO Opening Date	April 27, 2022
IPO Closing Date	April 29, 2022
Issue Type	Book Built Issue type IPO
Face Value	Rs. 10 per equity share
IPO Price	Rs. 516 to Rs. 542 per equity share
Market Lot	One lot of 27 Equity Shares
Minimum Order Quantity	1 lot corresponding to 27 Equity Shares of the company
Minimum Order Price	Rs. 14,634
Maximum Order Quantity	13 lots corresponding to 351 Equity Shares of the company
Maximum Order Price	Rs. 190,242
Listing At	BSE, NSE
Issue Size	29166945 Equity Shares of the company that corresponds to Rs. 1,580.85 Crores
Fresh Issue	5166045 Equity Shares of the company that corresponds to Rs. 280.00 Crores
Offer for Sale	24,000,900 Equity Shares of the company that corresponds to Rs. 1,300.85 Crores
Employee Discount	Rs 20 per share
QIB Shares Offered	50% of the net offer
Retail Shares Offered	35% of the net offer
NII (HNI) Shares Offered	15% of the net offer
Basis of Allotment	May 5, 2022
Initiation of Refunds	May 6, 2022
Credit of Shares to Demat	May 9, 2022
IPO Listing Date	May 10, 2022

WEAKNESS AND THREATS OF RAINBOW CHILDREN MEDICARE IPO:

The company was badly hit on the operational front during the COVID -19 pandemic due to disruptions in the supply and demand chain and network support.
The company is engaged in a very competitive business where it faces competition from many organized and unorganized players.
The company is in a regulated industry and is subject to strictly adhere to all the safety, operational, health, and environmental guidelines. Any non-compliance can lead to a major setback in the company’s operation.
Rainbow Children’s Medicare is also vulnerable to the sustainability of its brand, challenges being faced in the healthcare sector, and the correct execution of the growth and operation matrix to its hospital chains.
The company’s major source of revenue is from hospitals in Hyderabad and Bengaluru only.
Another major threat to the company is its financial needs and the anticipated Net Proceeds deployment.
The company stated in its DRHP that the company itself, along with its Promoters and the Group Company, is currently facing a trial under legal processes. Any negative outcome or news from the company regarding it could be a major setback.

FINANCIAL TRENDS OF RAINBOW CHILDREN MEDICARE IPO:

Particulars	For the year ending with the amount as in Rs. in Crores
	30 Sep 21	31 Mar 21	31 Mar 20	31 Mar 19
Total Assets	1,179.77	1,081.27	1,019.24	926.40
Total Revenue	519.59	660.31	729.74	551.14
Profit After Tax	81.22	39.57	55.34	44.59

Earnings Per Share (Rs)	9.10	12.68	-28.19
CEPS (Rs)	12.53	13.84	-9.49
DPS (Rs)	0.00	0.00	0.00
Book NAV/Share (Rs)	99.05	89.73	10.38
Tax Rate (%)	28.96	40.72	-28.89
Core EBITDA Margin (%)	25.40	27.90	-8.93
EBIT Margin (%)	15.70	19.69	-20.24
Pre – Tax Margin (%)	8.57	12.98	-33.98
PAT Margin (%)	6.09	7.69	-20.87
Cash Profit Margin (%)	17.37	17.34	0.16
ROA (%)	3.46	6.68	-48.21
ROE (%)	9.54	13.85	-31.16
ROCE (%)	21.32	30.49	-30.06
Asset Turnover (x)	0.57	0.87	-34.55
Sales/Fixed Asset (x)	0.70	1.12	-37.41
Working Capital/Sales (x)	8.66	9.90	-12.53
Fixed Capital/Sales (x)	1.42	0.89	59.77
Receivable days	24.69	18.40	34.16
Inventory Days	7.32	5.83	25.58
Payable days	197.76	161.38	22.55
EV/Net Sales (x)	0.01	0.02	-40.88
EV/Core EBITDA (x)	0.05	0.07	-35.73
EV/EBIT (x)	0.08	0.11	-25.88
EV/CE (x)	0.01	0.01	-50.67
Net Sales Growth (%)	-9.64	32.54	-129.63
Core EBITDA Growth (%)	-16.88	75.52	-122.35
EBIT Growth (%)	-27.93	69.99	-139.90
PAT Growth (%)	-28.50	-4.47	-537.46
EPS Growth (%)	-28.19	-3.41	-727.10
Total Debt/Equity (x)	0.11	0.14	-24.46
Current Ratio (x)	1.44	1.42	1.32
Quick Ratio (x)	1.38	1.33	3.94
Interest Cover (x)	2.20	2.93	-24.99

Particulars as in Crores	Dec 21	Mar 21	Mar 20	Mar 19
Sales	761	650	719	543
Medical Consumables and Pharmacy Items Consumed	161	103	105	80
Employee Benefits Expense	84	102	109	86
Other Expenses	259	282	308	228
Operating Profit	257	163	197	149
OPM %	33.77%	25.08%	27.40%	27.44%
Other Income	13	10	10	8
Finance Cost	37	44	45	39
Depreciation	61	73	69	60
Profit before tax	172	56	93	58.00
Total Tax Exps	45	16	38	13
Net Profit	126	40	55	45
NPM %	16.56%	6.15%	7.65%	8.29%
No. of shares	10.15	10.15	10.15	10.15
EPS	13.39	4.36	5.98	4.83

Also Read : List of Mainboard IPO’s in India .
Also Read : List of Upcoming SME IPO’s in India.

COMPARISON WITH PEERS:

Name of the Company	Sales as in Crores	PAT as in Crores	EPS	PE	RoCE	Market cap	Returns 3Y	Sales Growth of 3Y
Rainbow Children’s Medicare	867	53	17.85	30.36	4.79%	5,501	NA	59.69%
Apollo Hospitals Enterprise Ltd	13,984	1,133	78.8	79	8.44%	69,275	288%	45.41%
Fortis Healthcare Ltd	5,592	530	7.02	57.8	5.59%	20,765	97%	25.13%
Narayana Hrudalaya Ltd	3,597	341	16.7	42	1.62%	14,321	236%	25.73%
Max Healthcare Institute Ltd	1,679	272	2.81	145	3.55%	39,299	265%	66.57%
Krishna Institute of Medical Sciences Ltd	1,637	310	38.9	35.1	29.60%	10,935	34%	78.32%

PROMOTERS OF THE COMPANY:

The promoters of the company are as follows:

Dr Ramesh Kancharla,
Dr Dinesh Kumar Chirla
Dr Adarsh Kancharla.

Pre – Issue Share Holding	62.19%
Post Issue Share Holding	49.83%

CONTACT DETAILS:

Rainbow Children’s Medicare Limited
8-2-120/103/1, Survey No. 403,
Road No. 2, Banjara Hills,
Hyderabad – 500 034, Telangana,
Telephone: + 91 40 49692244
E-mail: companysecretary@rainbowhospitals.com
Website: www.rainbowhospitals.in

REGISTRAR:

KFin Technologies Private Limited
Selenium, Tower-B
Plot 31 and 32, Financial District
Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032
Telangana, India
Telephone: +91 40 6716 2222
E-mail: rcml.ipo@kfintech.com
Website: www.kfintech.com

LEAD MANAGER(S) OF RAINBOW CHILDREN MEDICARE IPO:

J.P. Morgan India Private Limited
Kotak Mahindra Capital Company Limited
IIFL Securities Limited

Campus Activewear IPO GMP, Lot Size, Price & Reviews

Main board IPO

Team TradingBuzz₹

-

April 27, 2022

0

Campus Activewear Limited was incorporated in 2005. The company is engaged in the business sector of the Footwear Industry. It is one of India’s largest athleisure footwear and sports brands. The company is engaged in the manufacturing and distributing of a variety of footwear like Casual Shoes, Running Shoes, Walking Shoes, Floaters, Slippers, Flip Flops, and Sandals. The company produces all these products in multiple colors, designs, and styles at a variety of pricing. In this article, we take a closer look at the Campus Activewear IPO Review and its possible future prospects.

Campus Activewear has a presence in the market via its offline stores and online platforms. The company has a Pan -India presence with a wide distribution network of over 400 400 distributors spread over 28 states and covering 625 cities. Campus Activewear also has 18,200 retailers in its distribution network across India. The manufacturing of the footwear by the company has been carried out in their five manufacturing facilities. The annual combined capacity of this facility is 25.60 million pairs. The company also operates 57 COCOs and 28 franchisees under their business operation. As per their new expansion plan, the company plans to launch EBOs in the country. The company stated that for EBO, it intends to “preimmunize” products through its distribution and trade network.

OBJECTS OF THE IPO ISSUE:

Prepayment of all the company’s loans, which be availed on a consolidated basis.
To meet corporate targets.

CAMPUS ACTIVEWEAR IPO:

Campus Activewear Limited, a company with its headquarters in Mumbai, recently got approval from SEBI after it submitted its DRHP. The company is ready with its Purely OFS-based IPO Offer of 51,000,000. The company also stated that it would not carry out any pre – IPO allotment. The selling stakeholders offloading their stake in the company are as follows:

Selling Shareholders	Total Shares	Offer Shares	Cost of Acquisition by the stakeholders	Selling Price	CAGR
TPG Investment	52,307,692	29,100,000	Rs. 54.67	Rs. 292	40%
QRG Enterprise	11,759,292	6,050,000	Rs. 54.67	Rs. 292

The company stated that the IPO issue offer constitutes around 15.76% of the post-issue fully paid-up equity capital. In the IPO offer, the company has reserved 200000 shares under the employee’s quota, where the employees will get a discount of around Rs. 27 per equity share. The company’s current paid-up equity capital base will be Rs. 152.16 crores as the IPO offer are a pure OFS-based offer. On the IPO offer valuations, the campus targets a market capitalization of Rs. 8886.32 crores. Check Day by Day IPO Subscription Details (Live Status)

IPO Opening Date	April 26, 2022
IPO Closing Date	April 28, 2022
Issue Type	Book Building type Issue IPO
Face Value	Rs. 5 per equity share
IPO Price	Rs. 278 to Rs. 292 per equity share
Market Lot	One lot of 51 Equity Shares
Minimum Order Quantity	1 lot corresponding to 51 Equity Shares of the company
Minimum Order Price	Rs. 14,892
Maximum Order Quantity	13 lots corresponding to 663 Equity shares of the company
Maximum Order Price	Rs. 193,596
Listing At	BSE, NSE
Issue Size	47,950,000 Equity Shares that aggregate to a sum of Rs. 1,400.14 Crores
Offer for Sale	47,950,000 Equity Shares that aggregate to a sum of Rs. 1,400.14 Crores
Employee Discount	Rs 27 per equity share
QIB Shares Offered	50% of the net offer
Retail Shares Offered	35% of the net offer
NII (HNI) Shares Offered	15% of the net offer
Basis of Allotment	May 4, 2022
Initiation of Refunds	May 5, 2022
Credit of Shares to Demat	May 6, 2022
IPO Listing Date	May 9, 2022

STRENGTHS AND OPPORTUNITIES OF CAMPUS ACTIVEWEAR IPO:

Campus Activewear as a company is the largest company in the country in the segment of sports and athleisure footwear. The company recorded the highest number both in terms of value and as well as in volume in the last financial year.
Campus Activewear is the fastest-growing company engaged in the scaled sports and athleisure footwear segment. The company is growing at a CAGR of nearly 17%, much more than its competitors.
The company has enjoyed a market share of 15% in the overall sports footwear segment, and in the affordable footwear segment, it has a huge dominance of around 32% of the market share.
The campus has also benefitted from the new psychology of promoting Indian Brands as the company, from manufacturing to whole processing, is based in India.
Shortly, the company has clarified its major shift towards a sustained focus on the upgradation of design and product innovation. It will help the company match the latest global trends and the fashion and style.
Campus Activewear also holds strong support from the PE firms, which has helped the company during its initial period.
The company has greatly benefitted from its robust supply chain, which takes over the difficulty of replicating the integrated manufacturing capacity of the company.
The company has a Pan India presence and is a major company in the affordable footwear segment. Also, the company has come up strong product portfolio in the premium segment to increase its sales and enhance its market capitalization.
Campus Activewear has also greatly benefitted from its strong brand recognition, innovative branding, and new marketing approach and techniques.
The company has also been blessed with an excellent team guided by an experienced promoter base.
Campus Activewear also maintained healthy margins in both top-line and bottom-line, even during the pandemic period.

WEAKNESS AND THREATS OF CAMPUS ACTIVEWEAR IPO:

One of the major threats to the company is the failure to predict the market design successfully, pattern, and the latest trend. It could hamper their growth which can lead to a serious threat to their operating margins on both top-line and bottom-line.
The company is engaged in a highly competitive market. It faces stiff competition from many organized players and unorganized players in different categories.
The clients’ pricing, competition, and discounts on occasions may damage their gross Margin, along with the income, which is a negative flag for the company’s growth.
Though the footwear segment is a whole year segment, it still has some seasonality impact on its sales and volume. The company needs to find a strategy to maintain constant sales.
The COVID-19 badly hit the company though its margins were still better than other companies.
Campus Activewear, in the past, has been linked with third-party transactions. The company stated in its DRHP that it might do the same again if required.
The retention of the customer and the addition of the customer is another threat to the company. Another challenge is the retention of the management and other experts associated with
Campus Activewear is also vulnerable to any misconduct of its growth-based strategy and cost-effective business operation.
Campus Activewear relies heavily on its warehousing and shipping, forming part of its distribution network. Any disruptions associated with it can lead to a negative impact on the company’s business.
Keeping a robust Inventory along with Inventory Management is also another issue for the company.

FINANCIAL TRENDS OF CAMPUS ACTIVEWEAR IPO:

Earnings Per Share (Rs)	1.77	4.06	-56.37
CEPS (Rs)	1.96	2.81	-30.27
DPS (Rs)	0.00	0.00	0.00
Book NAV/Share (Rs)	20.52	18.68	9.86
Tax Rate (%)	61.59	36.84	67.18
Core EBITDA Margin (%)	16.31	18.61	-12.37
EBIT Margin (%)	12.25	15.74	-22.22
Pre – Tax Margin (%)	9.83	13.49	-27.11
PAT Margin (%)	3.78	8.52	-55.67
Cash Profit Margin (%)	8.37	11.67	-28.24
ROA (%)	3.92	10.87	-63.92
ROE (%)	9.03	25.85	-65.09
ROCE (%)	17.84	25.48	-29.98
Asset Turnover (x)	1.04	1.28	-18.60
Sales/Fixed Asset (x)	2.62	4.36	-39.97
Working Capital/Sales (x)	5.99	7.65	-21.70
Fixed Capital/Sales (x)	0.38	0.23	66.59
Receivable days	62.22	76.37	-18.52
Inventory Days	95.55	71.82	33.05
Payable days	143.16	97.66	46.59
EV/Net Sales (x)	0.40	0.46	-12.01
EV/Core EBITDA (x)	2.39	2.42	-1.30
EV/EBIT (x)	3.29	2.91	13.13
EV/CE (x)	0.43	0.48	-11.43
Net Sales Growth (%)	-2.84	23.06	-112.30
Core EBITDA Growth (%)	-13.39	35.80	-137.39
EBIT Growth (%)	-24.43	31.73	-176.98
PAT Growth (%)	-56.93	61.58	-192.45
EPS Growth (%)	-56.37	-99.90	43.57
Total Debt/Equity (x)	0.44	0.86	-49.27
Current Ratio (x)	1.42	1.26	12.20
Quick Ratio (x)	0.71	0.80	-11.32
Interest Cover (x)	5.08	6.98	-27.30

Particulars as in Crores	Dec 21	Mar 21	Mar 20	Mar 19
Sales	841	711	732	595
Cost of Material Consumed	462	401	414	324
Purchases of Stock in Trade	13	4	0	10
Change in Inventories	-59	-30	-34	-13
Employee Benefits Expense	48	55	57	43
Other Expenses	215	166	159	131
Operating Profit	162	115	136	100
OPM %	19.26%	16.17%	18.58%	16.81%
Other Income	2	4	2	2
Interest	14	17	17	21
Depreciation	38	33	23	14
Profit before tax	114	70	99	66
Total Tax Exps	-29	-43	-36	-28
Net Profit	85	27	62	39
NPM %	10.11%	3.80%	8.47%	6.55%
No. of shares	30.43	30.43	30.43	30.43
EPS	2.82	0.88	2.05	1.28

Particulars	For the year ending with the amount as in Rs. Crores
	30 Sep 21	31 Mar 21	31 Mar 20	31 Mar 19
Total Assets	837.21	684.75	719.22	505.55
Total Revenue	409.91	715.08	734.11	596.70
Profit After Tax	30.09	26.86	62.37	38.60

PEER COMPETITION:

Particulars	Bata India Ltd	Relaxo Footwear	Liberty	Mirza	Campus
Face Value	Rs. 5	Rs. 1	Rs. 10	Rs. 2	Rs. 5
Total Income for FY21 (Cr)	1802.57	2381.92	458	1048	715.1
EPS (FY21)	-6.95	11.74	0.14	0.69	0.88
NAV per share	136.79	63.29	109.38	53.06	10.29
Return on net worth	-5.08%	18.54%	0.13%	1.30%	8.60%
P/E	-202.33	74.65	908.21	66.01	NA
P/B	10.27	13.81	1.48	0.86	NA
Market Price	1913	1109.7	162.3	211.75	NA

Also Read : List of Mainboard IPO’s in India .
Also Read : List of Upcoming SME IPO’s in India.

PROMOTERS OF CAMPUS ACTIVEWEAR IPO:

The promoters of the company are as follows:

Hari Krishan Agarwal
Nikhil Aggarwal

Pre – Issue Share Holding	78.21%
Post Issue Share Holding	74.1%

CONTACT DETAILS OF THE COMPANY:

Campus Activewear Limited

D-1, Udyog Nagar,

Main Rohtak Road,

New Delhi – 110041,

Delhi, India;

Tel: +91 11 4327 2500

E-mail: investors@campusshoes.com

Website: www.campusactivewear.com

REGISTRAR OF THE IPO:

Link Intime India Private Limited

C 101, 247 Park

L.B.S. Marg

Vikhroli (West), Mumbai 400 083

Maharashtra, India

Telephone: +91 22 4918 6200

E-mail: campus.ipo@linkintime.co.in

Website: www.linkintime.co.in

LEAD MANAGER(S):

BofA Securities India Limited
CLSA India Private Limited
Kotak Mahindra Capital Company Limited
JM Financial Limited

Fone4 Communications IPO Details

SME IPO

Team TradingBuzz₹

-

April 26, 2022

0

Fone4 Communications (India) Limited was incorporated in 2014. The Company is engaged in the business activity of an online Electronic E-Commerce company. Through its E-Commerce Segment, the Company retails a wide range of products. It carries out retailing via online and offline mediums of various electronic gadgets and accessories used for Smart Phones. It also distributes the same for Laptops, Smart Television and other electronic equipment. In this article, we take a closer look at the Fone4 Communications IPO Review and its possible future prospects.

The Company has a strong ally with major manufacturers such as Apple, Xiaomi, Samsung, Redmi, Oppo, Vivo, Karbonn, Lenovo, One Plus, Dell, Asus, HP, LG, Acer, TCL and Sansui. The headquarters of the Company, Fone4 Communications, is located in Kerela. The Company operates 25 Showrooms under the brand name of ‘FONE4’ where most of the showrooms are in major cities of Kerala. The warehouse of the Company is located in Kochi, Kerela.

Some of the Competitive Strengths of the Company are as follows:

The Company operates strategically, and its warehouse facilities are also located in such a place. As a result, the Company has been highly benefitted from it.
Fone4 Communications (India) Limited has a wide distribution and marketing network that boosts its profitability.
The Company has a very diversified product portfolio and is constantly thriving for innovation.

Though there are some loopholes also related to the Company, these are as follows:

The Company in recent years has posted inconsistency on both operational and financial upfront in its top-line margins with losses in the last three financial years.
The Company has also earned a minuscule profit till now, which is negligible regarding its carrying losses.
The Company’s valuations look a bit ambiguous as based on FY21 earnings, the PE ratio of the Company is negative, while based on FY22 earnings, its PE Value comes out to 143.

OBJECTS OF THE IPO ISSUE:

Prepayment of all the earlier outstanding loans of the Company, which be availed on a consolidated basis.
To meet the general corporate targets.
To fund the working capital requirement along with the expenditures.

FONE4 COMMUNICATIONS IPO DETAILS:

After getting approval from SEBI, Fone4 Communications (India) Limited is coming up with its IPO offer. The Company stated that its IPO offer would be a Fixed Price Issue type IPO offer of Rs. 10 per equity share. The Company will issue fresh equity of around 6800000 equity shares to raise funds of Rs. 6.80 Crores. The Company also stated that it would utilize Rs from the funds raised by the IPO offer. 6.50 Crores for funding their working capital and repayment of the loans and the remaining Rs 30 lakhs for general corporate purposes. Post allotment, the Company’s shares will be listed on the BSE – SME platform.

The IPO issue offer of the Company constitutes around 39.88% of the post issue fully paid-up capital of the Company. The Company also stated that the current fully paid-up equity capital base would enhance Rs post-IPO. 17.05 crores. The Company also stated that it would be looking to raise its market capitalization to enhance the current paid-up equity capital of the Company. Check Day by Day IPO Subscription Details (Live Status)

IPO Opening Date	April 25, 2022
IPO Closing Date	April 27, 2022
Issue Type	Fixed Price Issue type IPO
Face Value	Rs. 10 per equity share
IPO Price	Rs. 10 per equity share
Market Lot	One lot of 10000 Equity Shares
Minimum Order Quantity	10000 Equity Shares
Minimum Order Price	Rs. 100,000
Maximum Order Quantity	20000 Equity Shares
Maximum Order Price	Rs. 200,000
Listing At	BSE SME
Issue Size	6,800,000 Equity Shares of the company that corresponds to Rs. 6.80 Crores.
Fresh Issue	6,800,000 Equity Shares of the company that corresponds to Rs. 6.80 Crores.
Retail Shares Offered	50% of the net offer
NII (HNI) Shares Offered	50% of the net offer
Basis of Allotment Date	May 2, 2022
Initiation of Refunds	May 4, 2022
Credit of Shares to Demat Account	May 5, 2022
IPO Listing Date	May 6, 2022

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STRENGTHS AND OPPORTUNITIES OF FONE4 COMMUNICATIONS IPO:

The retail stores of the Company are located at prominent locations. It helps the Company attract a very high and a great footfall, though the Company has shifted their focus to the online platform as its mainstream revenue mode in recent years.
Fone4 Communications (India) Limited is one of the most trusted brands operating in Kerala. The Company is considered to be well reliable regarding the quality of the products and the accessories it sells.
The Company has also drafted their plans to strengthen its Technological platform with the upgradation and introduction of innovative tools at affordable and competitive pricing.
The Company has a plan to expand its market reach and presence up to the entire Southern Region through its online platform and Retail Stores via a franchise model. The Company aims to be a One-Stop Techno Hub for electronic gadgets and accessories.
Fone4 Communications (India) Limited has a strong association with many reputable brands to showcase their products under the sub-dealership arrangement for Retail Outlets and E-Commerce portal.
The Company is also looking forward to carrying out some strategic acquisitions in similar fields and acquisitions for logistic and network support to improve its operational and financial performance with increased margins on both top and bottom lines.

FINANCIAL TRENDS:

Particulars	For the year ending with the amount as in Rs in Lakhs
	30 Sep 21	31 Mar 21	31 Mar 20	31 Mar 19
Total Assets	3162.46	4927.98	16577.39	14225.44
Total Revenue	2626.86	6380.25	5752.19	15242.89
Profit After Tax	-2.24	-10.00	-97.78	-155.34

Earnings Per Share (Rs)	-0.57	-5.59	89.77
CEPS (Rs)	5.56	2.52	120.91
DPS (Rs)	0.00	0.00	0.00
Book NAV/Share (Rs)	-0.10	0.47	-120.99
Tax Rate (%)	55.55	18.17	205.69
Core EBITDA Margin (%)	3.25	2.38	36.64
EBIT Margin (%)	2.60	0.08	3031.36
Pre – Tax Margin (%)	-0.36	-2.08	82.87
PAT Margin (%)	-0.16	-1.70	90.70
Cash Profit Margin (%)	1.54	0.77	100.90
ROA (%)	-0.09	-0.64	85.31
ROE (%)	-306.25	-171.07	-79.02
ROCE (%)	5.15	0.14	3616.45
Asset Turnover (x)	0.59	0.37	57.86
Sales/Fixed Asset (x)	7.91	7.16	10.54
Working Capital/Sales (x)	15.83	20.04	-21.00
Fixed Capital/Sales (x)	0.13	0.14	-9.54
Receivable days	445.21	802.57	-44.53
Inventory Days	100.63	90.93	10.66
Payable days	462.53	797.72	-42.02
EV/Net Sales (x)	0.35	0.77	-54.26
EV/Core EBITDA (x)	8.24	30.33	-72.84
EV/EBIT (x)	13.62	932.46	-98.54
EV/CE (x)	0.46	0.27	70.53
Net Sales Growth (%)	9.96	-60.91	116.35
Core EBITDA Growth (%)	85.20	-37.26	328.65
EBIT Growth (%)	3343.16	-90.71	3785.49
PAT Growth (%)	89.77	37.06	142.23
EPS Growth (%)	89.77	37.06	142.23
Total Debt/Equity (x)	-1203.28	518.10	-332.25
Current Ratio (x)	1.11	1.02	9.09
Quick Ratio (x)	0.56	0.92	-39.53
Interest Cover (x)	0.88	0.04	2191.79

Particulars (in Lakhs)	Dec 21	Mar 21	Mar 20	Mar 19
Sales	4,196	6,314	5,742	14,690
Cost of Materials Consumed	3,646	5,505	5,210	13,821
Changes in Inventories	0	0	0	0
Employee Benefits Expense	124	142	92	245
Other Expenses	316	466	306	944
Operating Profit	110	201	134	-320
OPM %	2.62%	3.18%	2.33%	-2.18%
Other Income	17	66	10	6
Depreciation	63	107	142	182
Finance Cost	61	184	122	224
Profit before tax	4	-23	-119	-174
Total Tax Exps	-5	-13	-22	-18
Net Profit	9	-10	-98	-155
NPM %	0.21%	-0.16%	-1.71%	-1.06%
No. of shares	170.50	170.50	170.50	170.50

VALUATIONS OF THE FONE4 COMMUNICATIONS (INDIA) COMPANY:

The average EPS of the Company is Rs. – 3.63
RoNW of the Company is – 837.23%.
The Company has priced the IPO issue is at a P/B value of 1.41
NAV of the Company is Rs. 7.08
Post-IPO, the NAV of the Company is Rs. 8.95 per share.
The asking price P/E of the Company is 142.86.

Subscription Details:

Category	Day1	Day2	Day3
NII	1.19	1.29	7.43
Retail	1.33	7.28	22.07
Total	1.26	4.28	14.75

COMPARISON WITH PEERS:

As per the data present for the listed Company on the BSE – SME platform, there are no listed companies in the sector with the same business operation.

Also Read : List of Mainboard IPO’s in India .
Also Read : List of Upcoming SME IPO’s in India.

COMPANY PROMOTERS:

The promoters of the Company are as follows:

Mr Sayyed Hamid
Mrs Roudha Zerlina

Pre – Issue Share Holding	95.12%
Post Issue Share Holding	57.18%

COMPANY CONTACT INFORMATION:

Fone4 Communications (India) Limited
1st Floor, 45/692-B,
Ashna Arcade, Vylopilly Road,
Thammanam Ernakulam 682032,
Phone: +91 8606 777 777
Email: cs@fone4.in
Website: https://www.fone4.in/

FONE4 COMMUNICATIONS IPO REGISTRAR:

Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://online.cameoindia.com/

FONE4 COMMUNICATIONS IPO LEAD MANAGER(S):

Finshore Management Services Limited

Global Longlife Hospital IPO Details

SME IPO

Team TradingBuzz₹

-

April 26, 2022

0

Global Longlife Hospital and Research Limited is a company that has been engaged in the sector of providing health care services in various sectors such as Oncology, Gynaecology, Spine Surgery, Ophthalmology, Cardiology, and Plastic Surgery, Dermatology and Ultrasound. The hospital branch of the company is also engaged in the service of Microbiology, Physiotherapy, Dialysis and other general healthcare services. The Hospital branch under the company has been certified by the NABH – National Accreditation Board for Hospitals and Healthcare Providers. In this article, we take a closer look at the Global Longlife Hospital IPO Details like Date, Price, GMP and much more.

The hospital branch of the company is known as a Multi-Specialty and Tertiary Care Hospital that operates in Gujarat. The hospital has 110 beds and is well equipped with all the Medical & Surgical Specialties. As per the current records, the company has 11 full-time Special Medical Consultants and a team of 30 experienced doctors. The company-operated hospital also has a nursing staff strength of 37 nurses and 50 + paramedical, pharmacists, and corporate and support staff.

Some of the Competitive Strengths of the company are as follows:

The company carries out a Constant innovation in terms of the medical types of equipment and apparatus used in the field.
Global Longlife Hospital and Research Limited’s biggest strength lies in human resources; the company has a lot of technical expertise in their folio.
The company registered a boosted profits in the current financial year’s first nine months. Though it raises concern over the performance matrix of the company has registered higher profitability in the current period.
Global Longlife Hospital and Research Limited also have tie-ups with more than 10 corporates and 30 Mediclaim and TPAs. It also holds up a medical association with the State Government of Gujarat under the “Mukhyamantri Amrutam Yojana”. The company’s hospital is also linked with the “Pradhanmantri Jan Arogya Yojana”. Under these schemes, the hospital provides health care services at optimum cost.
The company has also set up an excellent Database and IT support system that has helped the company carry out its operation effectively.
Global Longlife Hospital and Research Limited have adopted the SOP – Standard Operating Procedures issued by the Ministry of Health & Family Welfare. The hospitals of the company have also been verified under the NABH Accreditations.

One of the significant flags for the company is the Boosted profits it registered in the recent fiscal years. It raises eyebrows and suspension for such a fancy and luring valuation. The company is currently coming up at an IPO price of a P/E ratio of 38, which looks slightly overvalued.

OBJECTS OF THE IPO ISSUE:

Prepayment of all the earlier outstanding loans of the company, which be availed on a consolidated basis.
To meet the general corporate targets.
To fund the working capital requirement along with the expenditures.

GLOBAL LONGLIFE HOSPITAL IPO DETAILS:

Recently the company, Global Longlife Hospital and Research Limited got approval from SEBI to float their IPO in the market. The company has come up with a fixed price issue type IPO of Rs. 140 per equity share to raise an amount of around Rs. 49.0 Crores. The company stated that the company would utilize around Rs from the funds raised by the IPO. 20.0 Crores for financing its needs of land acquisition on a leasehold. The company also stated that it would utilize another Rs. 14.80 crores to repay loans and the remaining sum of around Rs. 10.70 crores for general corporate purposes. The IPO Offer brought by the company is of 3500000 equity shares. Post allotment of the equity in the IPO, shares of the company will be listed on the BSE SME platform. The IPO issue offer constitutes around 38.29% of the company’s post-issue fully paid-up capital. The company also stated that post-IPO, the company’s current fully paid-up equity capital would rise to around Rs. 10.50 Crores.

IPO Opening Date	April 21, 2022
IPO Closing Date	April 25, 2022
Issue Type	Fixed Price Issue type IPO
Face Value	Rs.10 per equity share
IPO Price	Rs.140 per equity share
Market Lot	1000 Equity Shares
Minimum Order Quantity	1000 Equity Shares
Minimum Order Price	Rs. 140,000
Maximum Order Quantity	1000 Equity Shares
Minimum Order Price	Rs. 140,000
Listing At	BSE SME
Issue Size	3,500,000 Equity Shares of the company corresponds to about Rs. 49.0 Crores
Fresh Issue	3,500,000 Equity Shares of the company corresponds to about Rs. 49.0 Crores
Retail Shares Offered	50% of the net offer
NII (HNI) Shares Offered	50% of the net offer

FINANCIAL TRENDS OF GLOBAL LONGLIFE HOSPITAL IPO:

Particulars	For the year ending with the amount as in Rs in Lakhs
	31 Dec 21	31 Mar 21	31 Mar 20	31 Mar 19
Total Assets	4001.04	3590.39	4191.69	4329.90
Total Revenue	2674.28	3276.59	3365.66	3469.49
Profit After Tax	386.31	103.54	-86.24	136.47


PARAMETER	MARCH 21	MARCH 20	YoY %
Earnings Per Share (Rs)	1.48	-1.23	220.06
CEPS (Rs)	4.17	1.80	130.95
DPS (Rs)	0.00	0.00	0.00
Book NAV/Share (Rs)	17.89	16.41	9.01
Tax Rate (%)	42.97	18.98	126.42
Core EBITDA Margin (%)	18.55	10.10	83.67
EBIT Margin (%)	12.99	4.10	217.00
Pre – Tax Margin (%)	5.55	-3.17	274.96
PAT Margin (%)	3.17	-2.57	223.15
Cash Profit Margin (%)	8.92	3.77	136.90
ROA (%)	2.89	-2.19	232.01
ROE (%)	8.62	-7.23	219.20
ROCE (%)	13.16	3.69	256.73
Asset Turnover (x)	0.91	0.85	7.19
Sales/Fixed Asset (x)	1.68	1.60	4.93
Working Capital/Sales (x)	23.36	14.01	66.72
Fixed Capital/Sales (x)	0.60	0.63	-4.70
Receivable days	78.73	81.40	-3.27
Inventory Days	16.78	22.92	-26.80
Payable days	184.35	294.78	-37.46
EV/Net Sales (x)	0.71	0.87	-18.46
EV/Core EBITDA (x)	3.79	8.35	-54.61
EV/EBIT (x)	5.47	21.27	-74.28
EV/CE (x)	0.70	0.76	-7.17
Net Sales Growth (%)	-2.51	-2.88	12.95
Core EBITDA Growth (%)	75.13	-49.52	251.71
EBIT Growth (%)	209.04	-71.25	393.39
PAT Growth (%)	220.06	-163.19	234.85
EPS Growth (%)	220.06	-163.19	234.85
Total Debt/Equity (x)	1.36	2.05	-33.52
Current Ratio (x)	1.13	1.18	-4.06
Quick Ratio (x)	1.06	1.02	4.04
Interest Cover (x)	1.75	0.56	209.91

Particulars (in Lakhs)	Dec-21	Mar-21	Mar-20	Mar-19
Sales	2,651	3,270	3,354	3,454
Cost of Material Consumed	339	720	524	524
Change in Inventories	-17	138	-18	-89
Employee Benefits Expense	294	438	414	518
Other Expenses	1,122	1,367	2,098	1,825
Operating Profit	913	607	336	676
OPM %	34.44%	18.56%	10.02%	19.57%
Other Income	23	6	11	15
Interest	111	243	241	207
Depreciation	129	188	213	215
Profit before tax	696	182	-106	269
Total Tax Exps	310	78	-20	132
Net Profit	386	104	-86	136
NPM %	14.56%	3.18%	-2.56%	3.94%
No. of shares	105.00	105.00	105.00	105.00

VALUATION OF THE COMPANY:

EPS / Earnings Per Share:	Rs. 1.48 per Equity Share
P/E Ratio Price/Earnings Ratio:	94.59
RoNW/ Return on Net Worth:	11.54%
NAV / Net Asset Value:	12.81 per Equity Share

COMPARISON WITH PEERS:

Name of the Company	Face Value	EPS	PE Ratio	RoNW	Book Value	Sales as in Lakhs	PAT as in Lakhs
Global Longlife Hospital and Research Limited	10	1.48	94.59	11.54%	12.81	3,277	104
Aashka Hospitals Ltd	10	2.57	30.5	15.40%	18.3	4,069	411
KMC Speciality Hospitals (India) Ltd	10	1.52	44.6	22.40%	4.57	10,300	1,300

GLOBAL LONGLIFE HOSPITAL IPO SHARES OFFERED:

Category	Shares been offered in the IPO Offer	Amount as in Rs. in Crores
NII	1,662,000	23.27
Retail	1,662,000	23.27
Total	3,324,000	46.54

Subscription Details:

Category	Day1	Day2	Day3
NII	0.13	0.62	1.60
Retail	0.16	0.71	1.40
Total	0.14	0.67	1.50

GLOBAL LONGLIFE HOSPITAL IPO PROMOTER HOLDING:

The promoters of the company are as follows:

Mr. Suresh Kumar Babulal Jani
Mr Dhruv Suresh Kumar Jani

Pre – Issue Share Holding	81.43%
Post Issue Share Holding	54.29%

Also Read : List of Mainboard IPO’s in India .
Also Read : List of Upcoming SME IPO’s in India.

COMPANY ADDRESS:

Global Longlife Hospital and Research Limited
Global Hospital,
Opp. Auda Garden, Nr. Water Tank,
Bodakdev, Ahmedabad – 380054
Phone: 079-29708041/42/43
Email: investor@globalhospital.co.in
Website: https://globalhospital.co.in/

GLOBAL LONGLIFE HOSPITAL IPO REGISTRAR:

Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

GLOBAL LONGLIFE HOSPITAL IPO LEAD MANAGERS:

Interactive Financial Services Ltd