Envirotech Systems Limited IPO Message Board (Page 2)

​@Admin @ Chittorgarh.com @Prachi @ Team Chittorgarh.com 
Please increase SME IPOs on home page.
Envirotech has vanished from the list.

It deserves to remain there at least till its listing. :-)

Operator Manipulation

38-43 GMP sudden after closing HNI.

​@Balaji S TOTAL 8 IPOs there in today's pipeline
Each ipo took almost 4 days.
After 2-3 pm gmp was started , untill now not a single trade happen( i didn't heard)

Demand and supply rule hota to esprit stone, threem paper ke figures dekh lijiye. Including anchors.

Thanks @MAMU  for mentioning about other names that were rigged.
I am learning that what works for one may not necessarily for another SME stock.

applied few retail lots here

Can someone please tell what is cut-off time for submitting retail application through UPI on Zerodha.TIA

4.30pm

Unfortunately a lot of greedy retailers will buy on listing at the premium amount only to get trapped. Infact, it suits them well. Loss can teach good lessons.

Ok sir lets market decide whats price that they want to give to this company as more than 19L shares are traded today which all chhapri investors like us bought and very intelligent investors like you refrain,

​@Rrkd Sir what happened now chhapri investors abhi to maze le rahe h uc ka and aapka gyan abhi kya kah raha h fair price jo 60 apne apne gyan se bataya wo kab tak touch hoga ?

प्रीमियम देखकर लोग लिस्टिंग पर लेंगे
बड़े लोग माल बचकर निकल जाएंगे

3 retail applications submitted

Applied 2 retail

Given the QIB subscription, are you guys going FF?
Does anyone have a revised GMP?

​@lokes Ji aap apply kar rahe ho

yes i am applying here and in deccan.
osel not sure now but will apply mostly, rest 2 not applying

Federal Reserve cuts interest rates by 50bps for the first time in 4 years.

Usual SME Anchors, nothing exciting. LM track record is good but surprisingly the MM stake is around 13% of total IPO than the usual 5%.

Co. is operating in an unique space catering to noise reduction and cancellation materials, insulation products for defence industries, factories, institutions, theatres etc. Some good clientele like DRDO, BHEL, TATA Projects, Saint Gobin. Good experience with over 15 years into the biz. Top 10 customers accrue to 50% of revenues. Minimal export revenue till date.

No mention of any order book or pipeline looks more that the biz is dependent on word of mouth advertising. Capacity utilisation is at 100 % in FY24. IPO proceeds are used purchase land for setting up factory for capacity expansion. The land is part of collateral belonging to M/S Oriental Trimex which is being sold to Envirotech for 23 cr. 11 cr has already been paid and 12 cr is through IPO proceeds. Deadline for this land purchase had already lapsed on July 31st but has been extended till 5th Sept (in view of the IPO process probably). But there is no mention about what happens later after land purchase for the proposed factory. They have shown around
6.3 cr as advance paid to supplier for this factory, increased from 2.5 cr from DRHP but apart from that no info since all of it appears still in early stage progress.

Around 8 cr out of IPO proceeds are for working capital estimates which project a 100% increase in revenues close to 90 cr . PAT margins for IPO year are around 24% which brings IPO Price to around 10 P/E which is comfortably low. But if compared to normal margin year FY23 this comes near 24 P/E. Operating cash flows are also positive. No listed peers available in this particular space but unorganised competition is present.

Maybe the IPO year is a one-off where everything fits perfectly into place: be it the revenues, be it the capacity utilisation, be it the orders and be it the recovery from debtors. No hints from mgmt on how the capacity gets expanded and by when and by how much and what new biz it has on its hands. The company website is a work in progress with daily revamps to attract the investor by including a huge clientele list, photographs etc. Just the fancy of low P/E and unique sector might give it a short term run up but other than that if there is no clarity, then medium to long term is bleak.

Forgot to mention that. Can apply that one after those 3 SMEs, if funds allow but purely for listing purpose@ValueSeeker

Sir many people are talking about profit manipulation in ipo year as in rhp EBITDA margin went from 10-15% to 35% yoy. Archit Nuwood was also by same LM and later postponed due to some issues raised for profitability.

Decided to skip

​@MuStrFc Your views on this company?

Strange 0 gmp even with QIB already present.

kya chakkar hai? why all silent in this company

For the last three fiscals, the company has reported an average EPS of Rs. 5.06, and an average RoNW of 46.47%. The issue is priced at a P/BV of xx based on its NAV of Rs. 14.64 as of March 31, 2024, but the offer document/IPO price band ad is missing its post-IPO NAV data info.

​@Admin @ Chittorgarh.com why last date is extended for many ipo's

18th bank holiday due to declare by maharastra state for shifting of leave of eid e milad from 16th to 18th

​@ValueSeeker @Vimal Garodia @diwan kapoor @Tejas Pandya @B.M.SURANA @GrayIsTheNewBlack @rohiitian @Chhote Lal @PKRAJ @Eagleye 

Hello All Seniors

Which SME is good for applying
1. Osel
2. Decan
3. Envirotech

I am personally feeling the Envirotech is good to apply. Please suggest your feed about company.

Thanking You All

​@Rajesh Pithadia bhai,
All the 3 you mentioned, and Paramount are looking good on first glance. And Sodhani, Popular and Pelatro don't appeal that much.

I am yet to study them deeper.

For me, one issue in the Envirotech is that its Registrar is Nevershare. Other wise, the company is good. So, I would keep this IPO at No. 3, will apply only with the remaining funds, if any.

This IPO is kept silent. Hoping last day there can be a good momentum in terms of subscription. Due to other maiboard IPO's which coincides with the dates, the inflow is low here. However, nothing wrong with the company and its work. This is a good business. People with good money will surely enter in this counter post listing and then the trend will be set up.