Aluwind Architectural Limited IPO Message Board (Page 4)

Avoiding, high probability its a discount listing candidate.

Avoiding

Good afternoon to all Respected Members and Seniors!

I will be applying here in retail all the best to those who are applying!

​@MAMU Can you please share the latest GMP please

tum 0 bol rahe ho gmp but yaha to 6Rs. show kar raha he c.g me aisa kyu

​@W. Buffett Thanks for the GMP information.

New LM. Chances of burning hands in this issue.

​@Dhiraj Ramchandani Ji
Whats ur call?

​@Dhiraj Ramchandani  Only Second reason hi kafi tha..... Fund hi nahi he sahab to phir sure hoke bhi kya kare ...?

Sir, agar sure hota toh funds arrange ho jaate.

Leave the Aluwind, I am more interested knowing about Corpwis.
Any details?

This is their first ipo as lead managers

Lead manager to the issue is making their debut but looks like this could be a false start. No QIB to offer support, MM's record isn't favourable either. Company just 3 months back have converted into public company despite in operations from 2003.

Objects of issue are somehow not adding up any value in the company operations. When peers are able to cater only marginal bumps in revenue, Aluwind seems to somehow be accomplishing whole of FY 23 Revenue in 6 months of FY 24 given that no further outlook on order book received or in talks or expansion commentary is given by management.

Volume growth is missing and coupled with low OPM due to clients and supplies both bargaining in for company's products and with presence of unorganised players, there is tough competition. Company claims 80% sticky clients so constant revenue should be there but the eternal "growth" in top line appears hard to come by. Regional and top 5 customer concentration is another thing to look upon.

Highly susceptible to commodity prices like metals and others which tends to make it cyclical as well and since these prices would be on the rise going ahead, maintaining profitability will be a challenge. Longer operating cycle daunts cash conversion cycle, reducing operating cash flows, and increases inventory management, similar to seen in real estate counters, and since the issue is for sole reason of working capital management suggesting poor management by company.

Issue price is already factoring in FY 24 end results. From FY 21-FY 23, the sales growth has been around 50% CAGR. In the IPO year, it becomes rosy good nearing 80% YoY. After that from FY 24 it is back again around 35%. This weird fluctuation with no concrete info on growth as mentioned above is self explanatory to say the least. Recent real estate counters haven't done good as well and this is looking to remain on the same lines.

I don't understand the last line of the address........

"Mumbai City, Mumbai" whereas Malad is a Suburb in its north west part.

Zero premium... Keep yourself away from this issue...

I think they heard you....now is 7/-

Quite liking this one!

Keep minting!

One more observation...

You NEVER post a negative view / comment. If you think that an issue is not worth applying for, you don't post that 'one-liner'. Buss, that's it !
Your positive views come to us and come to us well in advance. You have never dissuaded others from applying in good IPOs.

It's a sign of your broad minded attitude.

​@Old.Fox ji - You have me totally figured out and in a nice way. If you dig into my older posts, this wasn't my approach always but has evolved overtime to ensure tranquility and I feel it's the best. Also, I try to place the views in advance so as to ensure that I don't end up developing biases from the prevalent GMP.

Keep minting!

good one