Aatmaj Healthcare Limited IPO Message Board (Page 16)

After a long gap, back into the IPO business.
Applied 15 lots

HNI to 5 bhi cross nahi kar Raha 🙇🏻‍♂️

hni application comes on last after matching lots
funding accounts bid @2

don't know why u in panic

s
dont apply If woriied

Don't comment if you don't like my comment.

Applied 7/7/7/7 lots

11 baj gaye. HNI aa nahi rahe 🙇🏻‍♂️🙇🏻‍♂️

Hello @Arjun Rajkot - would you be applying here sir ?

Looks like HNI will be around 20x

Will join 20 lots 2 application

Applying with full force

HNI above 60x.

@Noorul sir apply or avoid?

My expectations 50-55x

,Applied 8 retail

My expectation

HNI - 25x
Retail - 15x

PREM 13/-

ST 23000/-

RAJKOT

Arjun Bhai
Full force se laga de kya

Hni 15-20 times se jyada nahi lag raha

Wait kro thoda hni minimum 75 times hoga
My expectation is
Hni - 75 times
Retail - 60 times

I am applying HNI

RETAIL WILL BE 40 TIMES
Already 10 times

So bttr apply hni

I assume hni 50+

So hni will fetch one lot

Don't apply below that

Market feed back
Hni 50+
Retail 40+

Gmp 12

The total subscription is little over 5 times now. Will consider applying 3 Retail if it crosses 30 times by 2 30 pm.

CYIENT DLM is in last week of June.Dates out but price shall come later.Those purchased CYIENT on or before 16/6 ie. holding on 19/6 are eligible for shareholders quota.Max application allowed for this 2L.
Employees and general can also apply simultaneously.
My quarry ,if quota portion is oversubscribed ,is it advisable to apply single lot only ,as in the case of retail? Thanks.

There will be no shareholder quota...
Also don't flood other boards with queries for other ipos

applied in retail 29 applications
seems.likr 50 time retail

again blcok unblock game

Last GMP
11/12
Subject to 21k

Another positive news for IPO Market:

CYIENT DLM IPO CONFIRMED

Dates : 27 - 30 June, 2023

Shareholders Quota: Yes

Parent Company: Cyient

Eligibility for SH Quota: At least 1 share of Cyient must be in your demat on 19th June.

GMP : Yet to start

More updates soon ... !

As per market feedback one can apply in this issue without any fear for atleast listing gain and of course in portfolio as this will cross overall subscription by 50 times and punters are not willing to short sell ...

Any member here from VADODARA? or near by?
or any member knows about this hospital?

then please tell more about this hospital 🙏

Aashka hospital, a 148 bed hospital in Ahmedabad, had turnover drop from Rs 40 cr in 21-22 to Rs 19 cr 22-23
Global Longlife, a 110 bed hospital in Ahmedabad, had turnover drop from Rs 33 cr in 21-22 to Rs 23.5 cr in 22-.23
Sales increase is 25% whereas debtors increase is 300%
Although 2 more hospitals have been added to the network in Apr-Dec 22, the tangible assets have remained flat. Even Right to Use type of assets are not seen in Balance Sheet
Due to ballooning debtors, cash flow from operations is poor and raises doubt about future profit consistency. Company aims to reduce debtors days from 282 to 143, almost half. How and when that happens is to be seen.
The rise in debtors is supported by short term borrowings, mainly overdraft from Axis Bank. How Axis Bank gave overdraft of Rs 9.3 cr to a company with tangible assets of Rs 10.87 cr is a separate study.
Loans to related parties has gone up from Rs 26 lacs to Rs 85 lacs till Dec-22
For a 25% rise in revenue, increase in salaries and wages is less than 10% (too less) and increase in professional charges is 150% (too high). Professional charges could be fees payable consulting doctors and such large increase could be due to the company being unable to attract talented doctors without high fees.

@YBPK Nice analysis. increase in receivable is mystery.
I feel, Company's consultant may be along with LM, has increased Dec 22 sales so that de-growth in revenue is not visible. Obviously, difficult to manage cash flow number and hence adjustment entry in receivable. Company is paying ~ Rs. 1.5-1.7 cr to consultant apart from fees made to LM. Kuch to value addition banata he!!

Better to ignore Dec 22 numbers and decide basis FY 22 performance. Instead 17 p/e, this is priced at 27 p/e.

Indeed many hospitals revenue have decreased in FY 23 as FY 22 revenue would have covid impact.

Even considering FY 22 numbers, i feel it is still ok to apply IPO. should give ~15-20% return and will be relatively easier to get allotment. With all what i know, reputation of hospital is not bad however issue does not have large valuation gap either considering FY 22 numbers.

@YBPK Thanks for very informative & in depth analysis. Aashka & Global are true peers although not mentioned by company in RHP (Naturally they will only mention lucrative profitable companies as peers although not truely comparable).
One more thing about Aatmaj hospital is it is affiliated to MA yojna / PMJAY. Usually reputed talented doctors don't like to work in such hospitals due to limited pay & unlimited duration when they will receive that pay (3-4 month is normal duration between treatment & fund received by hospital & paid to doctors). Also patients with mediclaim also don't prefer to go to such MA yojna affiliated hospital as such hospital are designed to deliver cost effective treatment as per government fixed packages & not to deliver ultimate best quality treatment by quality doctors.
If fund is delayed reimbursed by government, such hospital stop providing treatment till reimbursement resulting in revenue loss & financial instability.

@lokes Whats your opinion on this ipo??

Should i go with one application 12-14lots
Or 4 retail application??

Zero allotment in 3 demat from last 8 months in retail category.

Better to go for HNI and try luck... I am doing 150 lots retail and 15 lots app 10.. let's see how it goes

@ipo leader more than 3.5cr....... paisa hi paisa...