GSM Foils Limited IPO Message Board (Page 3)

Final Verdict - Apply here, but also keep some funds for Vilas Transcore, higher chances of allotment are there, so go FF there instead of GSM.

भाई लेकिन 4तारिख् के result का impact गिरेगा या नाही vilas के gmp पर..और लिस्टिंग के दीन भी

Sir, two reasons (in my assumption with very limited knowledge), this stock will not get MUCH affected with election results. First being, this is SME and SME stocks are not much get affected with direct market sentiments, most of the times it is operator game. Second being, this is fundamentally good stock, so I doubt if it will list negative (maybe flat or lower returns as compared to current GMP).

But again, we can be wrong at any given time, and every person takes risk with his or her capacity, basic instincts and databased knowledge.

Hello All,

Is AU Small Finance bank give interest on IPO block amount ?

Or any other bank do you know which provide this facility.

I've bank account in HDFC.

Like every bank Equitas Small Finance Bank gives interest on blocked amount of IPOs. The RoI is lucrative at 7% for funds above 5Lakhs. ASBA facility is available for all including HUFs and for Minor's account.

​@Mskreddy Why would you say IDFC? It doesn't have Linked FD facility like Yes & RBL Bank.

Anybody tracking Phantom VFX...?

I mean what's wrong with this industry..every day it is going down like VFX industry will be shut down next month.

sitting on huge loss in this counter?

That is because results of BASILLIC FLY & DIGIKORE was not encouraging.

I agree impact of AI will be there.. but are we that sophisticated already.. I think it will take another 2-3years to significantly change the business... And who knows .. these companies might leverage AI to produce better results...

Whole sector de rated.. all trading below 25 PE.. and may be below 20pe Fwd FY25.. strange

Italian Edibles and M.V.K Agro FoodProd SME IPO are available at very lucrative prize. Can be looked forward for huge long term gains.

​@MuStrFc Sir, what are the chances of getting one lot if I applied 70 lots application. Please advise... otherwise will try luck in Vilas... Thanks

The size, GMP, are comparable to recent Piotex, both had other issues around as well to apply for. Going by that even if the subscription blasts at last, chances are quite good for 70 lot category to get into lottery imo. @Palka

Applying 8 lots 9 application

Avoiding

Applying this for listing gain only.

🤞

Applied..🤞🏼

​@GrayIsTheNewBlack Bhai Bhai ye kuchh zyada ho gaya.. 😁

❌

Retailers enroute to burn their hands again in GSM like Mandeep :(

​@MuStrFc, r u applying ? GMP is ok.

Other issues around are better in most aspects. GMP makes them more lucrative and hence more over subscription.

For GSM, Inconsistent financials, sector, promoter background are nothing much to get excited about, and lesser value is visible, regardless of steady GMP.

So avoiding mostly. @Jay Vagheshwari Maa

Skipping

Skipped this.

Samajh nhn aaya.

Weakest issue amongst all the current sme issue... Please apply only after considering all the factors.... Thanks

​@Palka Ji agrees👍 with ur point .In my view One of the strong reasons is QIB quota is not present in FOIL and as well as in Associated coaters. Rest of SME IPOs have QIB quota. So Foil is little risky and GMP is not supported also. Please update GMP and ur views also in other SME IPOs at regular intervals. Thanks in advance🙏👏

Applied
25/9/9/1🤞

Should I apply or not? And kon kon se share abhi lene chahiye jisase election results ke bad fayda mile?

2 Civil Construction SME ipo Listing in last month April 2024
Teerth Gopicon order book Rs 900cr and K2 infra order Book Rs 450cr recently got 90cr More Order

today Teerth Gopicon Lock with 5% UC with almost 1100000 shares due to strong results and K2 infra's Results will Come today

Now Teerth Gopicon is not possible for taken but k2 infra give Chance to take it

@IPONEED -

K2 also have 1000 cr + order book . Upper circuit can start anytime.

Earlier Pratham , Now teerth Gopicon And next K2.

Finger Crossed.

Sell and apply only...

Subject to 21000/-

Points noteworthy :

1. Low margin business with organised and unorganised competition all around.

2. Prone to commodity prices, cyclical in some parts throughout the year.

3. Revenue decrease can be accrued to this until Dec 23. Though management has kept stock on hold which shows high inventory levels, i.e. done intentionally to capitalise on increased commodity (aluminum in this case) prices.

4. Working capital estimates are designed to suit this notion with FY24 sales projected at 70 cr, with around 5% margin, P/E FY 24 comes around 14. Much lower than mentioned peers but dependent on how well company executes its operations.

5. Inexperienced promoters with less operational history

6. Good number of related party transactions visible ranging from loan, remuneration, fees etc

7. Conversion from LLP to Company increases the D/E ratio as personal capital is turned into loan from directors which is surprisingly equal to the issue size of 11 cr. ?!!🤔

8. Some part of this loan is converted into equity recently, with the per share value evaluated at Rs 250 by registered valuer. Issue price is Rs 32.

That means the investors are getting the company at 8x discount to its fair value ?!!🤔

9. Negative current cash flows from operations equivalent to what was visible in FY 22

10. Operating on 80% capacity of current machinery which is only catering to 50% demand, which is why additional machinery is required

11. Concentrated in and around Maharashtra, Gujarat with Top 10 customers accounting for 50% sales.

12. KPI ratios at latter part of RHP shows one peculiar ratio Turnover to Net Working Capital stated at 52 😑, differently than others with the reason for such positive ratio given as Increase in turnover ??

Looks hastily drafted.

13. Good LM and listing before bumper event results.

All this is done knowing from start to convert loan to equity and further to also issue shares at premium compared to avg acquisition cost of promoters as you rightly mentioned. That is the outlook when looked from promoter's perspective.

Now look at non promoters perspective, or from just normal market participants and retailers. They never had shares from start, they never gave any loan so they wouldn't need to convert loan to equity and hence no bonus shares.

The valuer values the shares for the company as a whole and not separately for promoter or for non-promoters. Inherently the bonus is done to lower the avg cost for promoters, but that does not invalidate the valuation exercise done earlier, does it?

Awaiting your insights !!
@nbachoo

Please see the book value per share before bonus is issued and check the book value per share after bonus issue and at the time of IPO and you will understand.
Refer page 188 of the Prospectus. Company should have included valuers certificate for clarity.
While you have covered all the points correctly, you have not noticed the residential address of one of the promoters.