Kundan Edifice Limited IPO Message Board (Page 5)

Any guess on what could be the final subscription?

Myself not applying for kundan. Not satisfied with financials and LM performance very unsatisfactory

Yes better to apply chavda...it looks high risk.

kundan fix 800/_

Applying HNIs 6 lots with one demat account is better OR 2 lots X 3 different Demat a/cs. Can somebody suggest to maximize chances.

Apply 6 from 1 account

Retail already above 5 time...
Now a day need very good luck to get golden allotments. ..

HNI 40-50
RETAIL 50TIME...
GMP 30...

KUNDAM SME

St 30000.... Retail application hisar

This company is not at all genuine. Just garnering funds from public to clear its high interest debt. Group companies are already defaulters. It is strongly advised not to apply for such rogue IPO. In case anyone has applied, then there is still a chance for withdrawal.

if it is in Retail, you can cancel the application.. HNI - only option is to apply one more application in Retail so that it will be rejected however fund will be blocked for few days....

Unnecessary panic done to keep retail away like parmara last moment apply hni to loot innocent investors .

New account made to make negative like parmara...

Why cancel application sell and apply if worried why miss opportunity

Looks risky ..better to apply chavda

sector pe.... is 60...
coming at PE OF 20

UNNECARY PANIC IS CREATE SO KEEP AWAY PUBLIC LIKE PARMARA...

GOOD IPO TO APPLY...
GREAT GROWTH THIS YEAR

kundan profit... 4 cr value 100 cr
focus ... mkt cap 1000 cr profit 22 cr...

Supper listing of Pramra same LM... Hoping for same dhamakedar listing for Kundan also

Same LM had disastrous negative listing of highly subscribed Moxsh and Yasons IPOs.

No comment on same... No positive no negative... Just shared view

Company manufactures LED strips and allied products.
It’s factory is in a rented premises in Vasai, Palghar
4x revenue from 20-21 to 22-23, 3x inventory & receivables in same period.
Rs 80 lacs CFOB4T in last 3 years against Rs 9.5 cr PBT, poor cash flow
Material cost dropped from 68% in 21-22 to 62% in 22-23, reasons unknown
As on Aug-23, company claims it has 311 employees. It has deposited PF of 112 employees for Jul-22 and 229 employees for Jul-23. This also supports 100% YoY increase in employee costs.
Company has consistently clocked 84% capacity utilization for last 2 years. Based on actual capacity & utilization, production has increased 16.7% YoY while revenue has jumped 76%. This implies blended price hike of 58%, from Rs 195 to Rs 310.
Company seems to have financed its growth through short term borrowings, LT borrowings are up 11% YoY while ST borrowings are up 119%.
Certain borrowings carry interest rate of 7.5% while others carry interest rate of 16%. Borrowings from NBFC are @ 17%.
Company has Rs 38 lacs CWIP (building office 2012 & 2013) which is shown as < 1 year as on 31-mar-22 and 31-mar-23
Almost all of the receivables are below 1 year. Build up in inventory is due to jump in stocking of raw material.
YoY, job work expenses increased 20%, freight inward jumped 2.5x, cash discount jumped 3x, legal & professional fees and misc expenses jumped 2x, power & fuel expenses jumped 3x.
Company imports 56% of its raw material, down from 65% in previous year.
Top 10 customers are 89% of sales while top 10 suppliers are 70% of purchases, showing high customer and supplier concentration.
Various creditors have filed insolvency petition against company for non payment of dues, aggregating Rs 1.5 cr. Company has defaulted even after reaching settlement with a few of the creditors.
Issue related expenses are 14.6% of the issue size.
Based on working capital projections, company is targeting revenue of Rs 150 cr in 23-24, 2.5X jump over 22-23

Yasons chemex which traded @ 25% GMP premium before three days of ipo listed below issue price. Same LM. Hope good scenes happen this time for this company on listing.

If shares allocated. Listing price how much can we expect?

Kundan Ltd GMP 32 ~ 36 & Sub2 ~ 38000 # 10pm @ 11 Sep

HoS
35 40

Kundan Edifice GMP ~ 36 Buyer & 41 Seller / Sub2 ~ 40,000/- @ 10:00PM # 09 Sep

Gmp.... 40...

Next focus light and ikio....pray for allotment...

GMP 40 BUYER.... ST 50000