Arvind and Company Shipping Agencies Limited IPO Message Board (Page 7)

60+ listing possible. Keep OPEN

HNI be like : Abki bar 350 par✌️

Applied only 1 lot. I know chance of allotment for 1 lot is next to 0. But it's worth for taking a chance.

181.07 times subscribed as per NSE data so far

​@Arjun Rajkot  @newgen consultancy  @lokes 
Are you guys applying in this sme?
Please comment experts.

Applied 5 lots application.

​@lokes Your view on Rajgor Castor?

For ICICI users:

Few days ago, 3 IPOs were disappeared from ICICI due to issue from their side. I had escalated this issue, initially they denied it but accepted their mistake now. I hope, this issue won't happen in future.

HNI subscription 300-350×
Retail around 250×

​@lokes , ​@Noorul ji, what's your take on this ipo ?

LM / MM where recent listing have given moderate gains
Company has 2 business segments, chartering of barges and operating hotels. The promoter group has deep experience in chartering of barges. While the group has 34 barges, only 5 are housed in this company. Hence the group with larger assets will be directly competing with this company for business.
IPO proceeds to be used for purchasing 2 new barges.
As of 31-Mar-23, barge business contributes 85% of revenue and Rs 3.93 cr of EBITDA while hotel business contributes 15% of revenue and Rs 0.59 cr of EBITDA
Decent cash flow from operations before tax since depreciation is the largest expenditure item, assets have long life and operating expenses seem to be limited.
Sarvesh Gohil & Associates, statutory auditor of the company is also advisor to the IPO and is paid Rs 75 lacs for advisory work.
IPO related expenses are 15% of the issue size.
As on 31-may-23 company had 16 employees while as per EPFO company deposited PF for 4 employees for Sep-22 and Sep-23
Segment reporting as per AS17, Note 22, page F-19/188 of prospectus shows net profit for 31-Mar-23 as Rs 4.45 cr while page SF-2/46 shows net profit as 3.47 cr. And this is certified by a CA firm that gets Rs 75 lacs for advisory services.
The company has 2 hotels, of which 1 is owned and 1 is leased from promoter. Both hotels have 72 rooms. In 22-23, only 1 hotel was operated by company and it gave revenue of Rs 129.40 lacs, that gives per day per room revenue of Rs 372 (assuming 100% occupancy). This makes is a very low end category hotel. Presume the other hotel would be of the same type.
Top 5 customers make up 100% of revenue, high concentration.
Very high related party transactions. Out of total receivables of Rs 4.06 cr, Rs 2 cr is from related parties, out of sales of Rs 8.41 cr, Rs 4.34 cr is from related parties, out of borrowings of Rs 21.5cr, Rs 8.5 cr is payable to related parties. Very high probability that related parties will decide how much profit is to be shown in this company.
Related parties have lent Rs 8.5 cr to the company on interest free basis
Other income for 22-23 includes guest house ncome (Rs 97.64 lacs) and rental income of Rs 32 lacs. Company has disclosed that rental income will be recurring in nature.
YoY other expenses have dropped 50% mainly because rent expense of Rs 61 lacs in 21-22 have become Rs 2 lacs in 22-23.
Out of total receivables of Rs 4.07 cr, Rs 50 lacs is outstanding for over 6 months
Bank borrowings are @ 7.75% to 8.50%
Irrespective of fundamentals, this IPO is likely to be a “block / unblock” issue.

​@YBPK Thanks..

I want to open kids account for mainboard and sme ipos. Request to suggest brokers for minor account

Yes, ProStocks permits selling shares from minor account and you won't notice any difference while trading from major account.

Their UI is bit outdated though and they charge higher DP charges per transaction (maybe because they manage the process of transferring shares from child's DP to parent's DP themselves).

How is zerodha for minor account? Request if someone can share his experience.

Hello experts, any view on JSW Infra share. Hold or sell ?

Without considering GMP(cant trust for SME) and sub figures(proportional to GMP), Is this good to apply?

Dear CG experts....How much oversubcriptions expetcted.

HNI: 120X
RETIL: 160X

Looking at current status it will be 150x for sure

Abve 300 hni

applied, hopefully they refund on time so i can use it for IRM

Recent listing from Beeline in the lower circuit !!! Ab tera kya hoga Kaalia ????

No worry about Arvind as sector is good.....Barge renting and Hotels.....

KRNIKA was garment sector......short time under pressure ...medium to long this one also no issue.....risk appetite matters....

Only 1 HNIs for 60 lots
And 2 retails applied.

Will we able to use arvind unblocked money in IRM energy?

​@Athar  BoA for Arvind will be 19th and last day for IRM is 20th.
Money will be available for sure..

Yes, you will be able to use the fund for IRM

​@Monster Zero Ji, you are using Nuvama App or online to apply in IPOs (as third party route). I remember you had mentioned Nuvama quite long back.
Thanks 🙏

Applied.

I have revised my thinking. I know that it’s a bit risky to opt for. But after taking into consideration our risk tolerance, we are applying from both the accounts in Retail Category. Let me be ready to face the consequences. Thank you n all the best to all of you.