Galaxy Surfactants Limited IPO Message Board (Page 34)

Avoid it don''t block your money.

Gmp of all three

How much listing gain expected?

Between 10 to 20 %

good work by gamble sir and r r patel sir for galaxy ipo
thanks

Last day bids is only criteria for your decision then one should not bid for galaxy
Bcos you are following others thinking
Apply your mind and stay with your decision
Thanks
(I have decided to sold & subscribe )

People posting negative comments now, will post messages to check their application status!!

Gmp Down to 190

GMP stands at 320
Don''t spread rumours...

That''s Old, It has fallen.

Gmp 225????????????????????.

Galaxy Surfactants Ltd. IPO schedule:
25 Jan – Anchor List
29 Jan – Offer Opens
31 Jan – Offer Closes
05 Feb – Finalisation of Basis of Allotment
06 Feb – Unblocking of ASBA
07 Feb – Credit to Demat Accounts
08 Feb – Listing on NSE & BSE

Total issue size Rs.937 crores @ upper price band (offer for sale of 63,31,674 shares from which 39,250 shares by one founder member, 21,07,804 shares by promoter group of four founder members and 41,84,620 shares by 307 individual shareholders out of 2331)

Face Value - Rs.10 per share
Price band - Rs.1470-1480 per share
Lot size - 10 shares

Galaxy Surfactants founded in 1986 by Mr. Unnathan Shekhar, Mr. Gopalkrishnan Ramakrishna, Mr. Sudhir Dattaram Patil & Mr. Shashikant Shanbhag. They individually holding 11.92%, 6.66%, 11.69% & 11.56% respectively in GalaxySurfactants and 25.87% by promoter group of these four founders and remaining by 2331 individual shareholders.

Galaxy Surfactants Ltd is a Navi Mumbai based leading manufacturer of surfactants and speciality chemicals which are used as intermediate raw materials for home and personal care products. Is products ranging over 70, find applications in oral care, skin care, hair care, baby care, sun care and home care.

The company’s diversified customer base currently comprises multinational, regional and local fast moving consumer goods (FMCG) companies, including, Cavinkare, Colgate-Palmolive (India), Dabur India, Henkel, Himalaya, L’oreal, Procter & Gamble, Reckitt Benckiser, Ayur Herbals, Jyothy Laboratories and Unilever.

At present, it has seven strategically-located manufacturing facilities, out of which five are located at Tarapur & Taloja in Maharashtra; and Jhagadia in Gujarat and two are located overseas in the US and Egypt.

Basic EPS & RoNW on consolidated basis when came with IPO in May-2011.
2008 - Rs.15.28 - 32.15%
2009 - Rs.15.59 - 25.92%
2010 - Rs.23.55 - 30.24%
NAV as on March 31, 2010 is Rs.86.2 per share.

At that time @340 market cap was Rs.804 crores

At that time equity shares outstanding prior to the offer were 1,77,27,376.
Fresh issue of 59,30,000 shares (Rs.200 crores)
Equity shares outstanding after the offer were 2,36,57,376.

Due to tepid/poor response from all the categories specifically from QIB, the issue was withdrawn in May-2011.
In Dec-2011, bonus shares issued in the ratio of 1:1 so total shares outstanding were increased from 1,77,27,376 shares. to 3,54,54,752 shares.

Basic EPS & RoNW on consolidated basis now
2015 - Rs.19.03 - 19.27%
2016 - Rs.28.97 - 24.88%
2017 - Rs.41.27 - 28.68%
2018(HY) - Rs.21.2 - 12.45:
NAV as on Sep.30, 2017 is Rs.179.11 per share.

@1480 Market Cap is Rs.5247 crores now.

Now equity shares outstanding prior and after the offer are 3,54,54,752.
Offer for sale of equity shares 63,31,674.

Category wise breakup:

QIB (50%): Rs.468.5 crores i.e. total 31,65,837 shares from which 60% (18,99,502) will be allocated to anchor investors and remaining 12,66,335 available for bids by QIB.

HNI/NII (15%): 9,49,751 shares amounting to Rs.140.5 crores.

Retail (35%): Rs.328 crores i.e. 22,16,086 shares so total 2,21,608 lots available for allotment in retail category.

Subscription required for 1X
QIB - Rs.187.4 crores (shares of Rs.281.1 for anchor investors)
HNI - Rs.140.5 crores
Retail - 2,21,608 forms/lots

Interest cost for HNI for 1X @6% for 7 days
170.3 paise for 1X that means Rs.1.7 per share on applied shares. If we assume 200X HNI subscription than interest cost will be Rs.340 per share.

If we take average EPS of last four years which is approx Rs.33 so asking PE @1480 comes to approx 44
@HY18 PE 35

I think no direct peers so conclusion is first mover like segment but @ very high valuation. Price @ 4.35X from the price (Rs.340) of withdrawn IPO in May-2011 while average EPS only 2X from 2008-10 to 2015-17. Revenue increased Rs.2171 crores in 2017 from Rs.594 crores in 2010 while profit increased Rs.146 crores in 2017 from Rs.40 crores in 2010.
So Let''s wait for comments of other genius members of this forum and recommendations from broking houses. I have tried to enlighten some points which may be helpful for us so any comments/corrections are welcomed and it will definitely appreciate me.

Thanks and regards
rrpjodhpur

As you mentioned that a 1:1 bonus was issued in Dec 2011 after withdrawing the IPO, so the effective price of the May 2011 IPO comes down to 170 and this issue is offered at a price of 8.7x from the previous IPO price.

In dilemma whether to apply or not due to negative market sentiment and uncertainity ahead.

advice ipo galaxy avoid / apply?
normal / more apply?
gain/ loss?

Till what time I can apply ipo in Kotak bank asba

2 Pm

Gamble sir
Whats your view about galaxy surfactanssurfactant ltd company
Apply or avoid

In Rajkot Rs 300 per application for galaxy

galaxy ipo clear avoid 2011 mai bhi ye ipo aaya tha subscribe nhi hua promoter ko ipo cancil karna pda tha ab fir chor promoter 1480 mai ofs se apna mall dene aaya hai public ko

HEMIPO

It took promoters almost 30 years to build this company and mere 30 messages in this forum to destroy it.
What''s wrong if promoter trying to make money through OFS. Everybody does so why single out Galaxy Surfactant.
2011, financials rigged, chor company all are jargons to people who actually understand this company.
They timed the IPO wrongly in 2011 and few of them giving negative colour to it.
If you don''t want to apply, its ok but no need to make fun of good fundamentally sound company.
This is like Eris life or capacite infra to me. When market will reward it, nobody knows.

During May 2011 Galaxy Surfactrants has come for ipo. Then the subcription was poor and it was withdrawn. At that time the price is between 300 to 400. Now it is at 1400 to 1500. It shows it is a clear avoid.

What about these galaxy surfactants ipo??

i am holding 200 shares of this company since incorporation and my cost of shares is RS.2.50 per share after considering two bonus issues. The company management is very good and very liberal in declaring dividends. I will apply for shares The company declared bonus in 1:1 in the year 2010 & 2012 Previously the company name was GALAXY OLEOCHEM

Here are 10 things to know about Galaxy Surfactants IPO

1) Galaxy Surfactants IPO is an offer for sale by its promoters and some pre-issue investors. The company does not intend to raise any fresh capital through this offer. Post this issue, promoter holding in the company will fall to 71 per cent from 77 per cent now.

2) Incorporated in 1986, Galaxy Surfactants is one of India’s leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries. Its products are used in skin care, oral care, hair care, cosmetics, toiletries and detergent products.

3) Galaxy has evolved from being a local supplier to now a global supplier to FMCG companies across major geographies, such as India, Africa, Middle East Turkey (AMET), Americas (North and South) and Europe.

4) Major FMCG companies like Cavinkare, Colgate, Dabur, Henkel, L’ORÉAL, P&G and Unilever are among its clients. The company enjoy relationships in excess of 5 years with each of its top ten customers. Further, the product approval cycle goes beyond 2-3 years creating a moat for Galaxy to keep the competition under check, domestic brokerage Angel Broking said in a report.

5) The company has a strong presence in high growth markets like India (34 per cent of its revenue) and AMET (around 44 per cent of its revenue). Personal care industry in India is expected to grow at a CAGR of 8 per cent to $22.5 billion by 2024, while the AMET region has witnessed a CAGR of 22 per cent over FY2014-17, the brokerage said.

6) Also, the company is focusing more on high margin speciality care products, which will help it garner higher revenues from mature markets like USA and Europe, Angel Broking further said.

7) For FY2017, the company had reported a net profit of Rs 145 crore on revenues of Rs 2,161 crore. During FY2014-17, its revenue has grown from Rs 1,697 crore to Rs 2,161 crore while its net profit has nearly doubled from Rs 75 crore.

8) At the upper end of the price band, Galaxy Surfactants'' price-earnings (P/E) multiple works out be 36x (pre issue equity base) of FY17 EPS, said Angel Broking. The brokerage has a "subscribe" rating the issue for a mid-to-long term period. "We expect the company to maintain a 20% + growth trajectory in the coming few years, considering growing personal care markets, its increasing product offerings and geographies," the brokerage said in a report. ICICI Securities also has a subscribe rating on the issue.

9) Fluctuations in raw material prices, foreign exchange rates along with changing preferences of consumers are seen as key risks in the business of the company.

10) Galaxy Surfactants has already garnered a little over Rs 281 crore from 25 anchor investors at Rs 1,480 per share.

25, 2018 04:42 PM IST | Source: Moneycontrol.com
Subscribe to Galaxy Surfactants IPO : HEM Securities
HEM Securities has come out with its report on Galaxy Surfactants IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 25, 2018

Co is one of India’s leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries. Co’s products find application in a host of con-sumer-centric personal care and home care products, includ-ing, inter alia, skin care, oral care, hair care, cosmetics, toilet-ries and detergent products. Since co’s incorporation in 1986, co have significantly expanded and diversified its product pro-file, client base and geographical footprint. Co’s customers in-clude some of the leading multinational, regional and local players in the home and personal care industries. At present, co have 7 (seven) strategically-located manufacturing facilities, out of which 5 (five) are located in India and 2 (two) are locat-ed overseas. Co also have set-up 1 (one) pilot plant at Tarapur, Maharashtra, for the scaling up of new products and processes from lab-scale to plant-scale. Out of co’s 5 (five) manufacturing facilities in India, 3 (three) are located at Tarapur, Maharash-tra, 1 (one) is located at Taloja, Maharashtra, and 1 (one) is located at Jhagadia, Gujarat.
Valuation

The co is bringing the issue at p/e multiple of 35 on annualized H1FY18 eps at higher price band of Rs 1470-1480/share. Co being established global supplier to major FMCG brands with demonstrated track record has robust product portfolio & proven R&D capabilities with strong presence in high growth markets of India and AMET region .Looking after strong fun-damentals & financial performance of co , we recommend “Subscribe” on issue.

good ipo apply with full force

In 2011 PATANJALI was not in the market
Today & future PATANJALI WILL BE THE BIGGEST ISSUE FOR FMCG

Galaxy ipo rating 4/5 by cricil
Suggest above average fundamentals
Check cricil web site

Crisil

I think it was for 2011
Fresh ipo might be different
Double check before subscribe

Actually CRISIL