196.1. Huzefa| Link| Bookmark|
November 10, 2017 5:17:15 PM
Top Contributor (300+ Posts, 200+ Likes)
You are wrong. Infact Fools don''t check data but wise people do. Wise people waited till last moment, checked the subscription figures and then applied taking a calculated risk. Those fools who did not check Data in Mahindra Logistics are crying today after listing.
Whenever we have confusion take a reading of how the subscription going...nothing wrong in it....Nowdays if you believe Retailers you will loose everything.....
This is really crazy, I should have withdrawn my applications and use for other Pulz/Vertoz. 198 times means 1 out 198 applications. Who will get allotment will be really lucky.
The success story of ANI suggests that you can not fool the public anymore. If the pricing is reasonable, the public will give good response and if the promoters are greedy than public will teach good lesson like HDFC, Khadim...
@ MARIA, I think you haven''t subscribed ACCORD SME IPO in past, just check subscription figure, issue price & current price. This is not mainline ipo, here one must be ready to book losses also. Assumption of mainline ipo doesn''t work here.
Before applying in this issue one must go through prospectus. On page 54 in Statement of Profit and loss it is mentioned that company has paid 4.09 Crore of Income Tax for FY 2016-17 and 1.01 Crores in FY 2015-16. Whereas in Cash Flow statement on Page 57 it is mentioned that there is no out flow of cash on account of Income tax in last 5 year. I am unable to understand reason for this type of discrepancy.
Further we all know track record of HEM securities, lead manager. As per page 259 of the prospectus 4 out of last 13 issue managed by them are at a loss ranging from .13% to 27% to issue price 30 days after listing. We must not go after issue on the basis of Grey Market Premium only, must see fundamentals.
If we go with flow we may incur loses like past issues of HEM Accord Synergy 153 times in retail, issue price 60/- now recovered to 61/- after low of 45/- Shanti overseas 15 times in retail, Issue price 50/- now only 41/- Surevin BPO 35 times in retail, Issue price 40/- now 36/-
193.3. Ficpl| Link| Bookmark|
November 9, 2017 11:54:35 AM
Top Contributor (200+ Posts, 500+ Likes)
Agree on your part as well.
But here max 1 lot will be allotted to you if you will be lucky one.
If allotted with one lot than maximum you can lose is 10 to 15 %. That is 10K to 15K(not possible as per my veiw in this case).
In Sme IPO it is calculated risk so if one can afford this much than they should apply.
Agree with the observation of Mr Alok. We should consider following points also before applying in this IPO : 1. Short Term Provisions as per Schedule 7 of Balance sheet shows Income Tax Liability at Rs 2.23 Crores. This shows that company has not paid advance tax in time on profit. Which clearly reveals that management inflated profit just before IPO and had no knowledge of profit before 31-03-2017. 2. As per related party disclosure in the balance sheet it is mentioned that Company has given deposit of Rs. 60,00,000/- to Mr Navin Nand Kumar Kopre and Rs 1,60,00,000/- to M/s ANI Instruments - a sister concern. (These are probably interest free.) 3. Remuneration to Directors/related parties has increased from 1.34 crores in FY 2015-16 to 1.88 Crores in FY 2016-17.
@ Manoj, Your point 1 is really eye opener, which confirms that profit is inflated in last fiscal. Now I can''t decide whether to apply or not. I am sure that this sme ipo will subscribe several times (because of subject to rates) , but it is not advisable to go with flow everytime.
Dilip Dravid Said subscribe..normally he wont mention directly to apply the ipo....but in this SME he did...so we have to wait and see
193.9. Huzefa| Link| Bookmark|
November 9, 2017 6:28:43 PM
Top Contributor (300+ Posts, 200+ Likes)
After going through all the points, i am thoroughly confused whether to apply or not.
But Dilip Davda has given a strong subscribe on this issue. See his statement. ANI believes that “every business needs the right kind of people” and based on performance and future prospects of ANI, it appears that “every investor needs the right kind of investment” and this is one of them.
193.10. Ficpl| Link| Bookmark|
November 10, 2017 5:07:13 PM
Top Contributor (200+ Posts, 500+ Likes)