If issue subscribed 500 times then only those NII who apply for 500 and more lots (75 lacs+) get confirm allotment. Rest below 500 times (including your application of 25 lacs) will be based on lottery which is very difficult in NII. Apply retail one lot application only. If possible apply from different PAN. Retail is 35% in this IPO so allotment chance in Retail is much better. Most like in NII it will be 650+ so minimum 1cr required for confirm allotment in NII.
Hoping for best from last 5 year am applying ipo ,and only got sbicard . Which I booked with loss . Hope this time I will get bector nd will get good return.
In burger king retailers cota was just 10% and corrupt linkintime alloted just 10% to retail investors out of it as only 2% forum member seems get allotment imo
"Corrupt" seems harsh and unfair. Basis of allotment is ultimately created along with the designated stock exchange's software, not the registrar's. I have no special love for any registrar, but seems unjust to call any of them corrupt just because we didn't get allotment.
@cautiousipo have read that it was done as per norms accordingly with the Burger king PROFIT wise as submitted by the company itself, so the RII allocation was reduced.
@XcapitalMarket. ..allotment is done by designated software then why corupt karvy registrar banned by sebi many times after founding that karvy was misshandelling ipo allotment shares and few retailers able to get shares during famous software boom include indiabull,hcl tech....
I am an individual. How many lots i can apply from my demat account ? should i have to apply once or i can apply multiple times i,e, in one transactions only i have to select number of lots or i can bid in second transaction also.
instead of any registrar , BSE OR NSE should take over work for allotment of ipo share . everytime i see linkintime registrar my mind already ab nahi milega tujhe .
The NSE or BSE (whichever is the designated stock exchange as per RHP) does in fact do the basis of allotment. Registrar only facilitates the process and record keeping. The drawing of lots to decide retail allotment works on the exchange's software platform.
I think we as applicants tend to get bitter if we don't get allotment, which is understandable :)
222.1. lekker| Link| Bookmark|
December 16, 2020 5:34:23 PM
IPO Guru (1300+ Posts, 2000+ Likes)
I doubt retail applications are going into EMP category. Few broker UPI apps are showing SHA option instead of EMP option , not sure why this confusion is there.
That's because of low no of shares.. only 369 lot or 18450 shares are being offered to them. Employees get allotment on proportionate basis. Only 29-30 employees can fill these 369 lots considering if they go for 13lot( maximum limit in RII).
ANCHOR INVESTOR ------------------- Friday, December 18, 2020 ISSUE OPENS ON ---------------------- Monday, December 21, 2020 ISSUE CLOSES ON -------------------- Wednesday, December 23, 2020 Finalisation of Basis of Allotment ---- Tuesday, December 29, 2020 Initiation of refunds --------------------- Wednesday, December 30, 2020 Credit of Equity Shares ---------------- Thursday, December 31, 2020 Commencement of trading ------------ Friday, January 1, 2021
@K Priya, as I can see Mrs Bector is subscribed more on 2nd day in comparison to Burger king,. RII in Bectors is less as they have 35% quota of RII so it's similar to Burger King. Hence Bectors is subscribed more on 2nd day. Please correct me if I am wrong
Market is all time, lot of new robin hood investors, DIIs selling FIIs buying, HNI liquidating and moving to debt funds reason is market may go up another 10% but debt fund will also give 8.5% return so why risk 1.5% extra gain when probability of correction of 10% to 20% is more likely. Anyway market is king no one knows what will happen.
Now Bectors IPO FMCG investor love this sector is growth however in case of Bectors 2018 to 2020 no growth at all or lacklustre growth even when inflation during that period was around 6% plus so i am not that confident on companies corporate governance may be another case of manpasand beverages or pratap snacks. However last quarter peak lockdown time March to July this company has seen double digit growth i seriously suspicion about the last quarter, lockdown 3 and 4 bakeries were allowed to open but with minimum product, supermarket was open but most big players did not report such big growth in its biscuit business.
On operation side it is real good got a lot of contract orders both local and international players, but this is low margin business money is when u sell under your brand, compare with other brands Bectors does not big market share.
It manufactures a lot of Sauce Syrups cheese blends salad dressing, mayonnaise and mix, most of restaurant supplies so it can also bring them over the counter i think they do have few. BTW i have tired this part of business a wholesaler in teynampet chennai which also sells ITC product sells Bectors product. I love my sauces anyway.
I do not like this company fundamental, given hardly any growth for last years and suddenly last quarter when all was lockdown grew in double digit ?
Present GMP of 130 say 30% return on IPO price but this could disappear fast. for listing gain one can apply but long term only after few quarters as anoop BECTOR MD has come in few media house and said they will have super growth in next quarters i hope he right .
so if you flushed with funds apply IMO it will be oversubscribed big time so allotment will be lottery,
I have felling that HNI will not take loans and apply like they did with happiest mind or Burger King then again with cheap funds may be I will be wrong
214.2. arunARUN| Link| Bookmark|
December 10, 2020 7:26:54 PM
IPO Guru (2000+ Posts, 1700+ Likes)
Why will you get 8.5% return in debt fund going forward. Unless we will continue to have flood of liquidity. Low interest rate have already been priced in debt funds .Currently bond yield for 5 year bond is 5.1%. How fund manager will squeeze in additional 3.4 percent yield after recovering expenses of bond funds around 1 percent
Your insight on above will be interesting
214.3. Paymzia| Link| Bookmark|
December 10, 2020 7:34:05 PM
IPO Guru (2700+ Posts, 4700+ Likes)
Since debt funds returns are inversely proportional to the interest rates, they should now make down turn. The interest rates seems to be at bottom and the economy is improving. The interest rates are likely to improve and so the debt fund returns will go down.
Anyways, I do agree with rest of your analysis.
214.9. ipo share| Link| Bookmark|
December 11, 2020 12:50:26 AM
IPO Guru (1600+ Posts, 800+ Likes)
Keep posting such valuable comments.
214.10. Kishore S| Link| Bookmark|
December 11, 2020 2:17:33 AM
Top Contributor (200+ Posts, 100+ Likes)
Thanks Septa. I am still trying to understand how EPS jumped more than double from previous. Previously it was on continuous downtrend
214.11. Owls eye| Link| Bookmark|
December 11, 2020 8:56:49 AM
(500+ Posts, 1900+ Likes)
There was Highest Selling of Biscuits during Lockdown Period. Even Parle-G Recorded highest Selling of its history in this Period. People's were at Home during Lockdown Period and Used to Have Tea ☕with Biscuits ???? so we have seen this Handsome Numbers of Selling not only by Mrs Bectors but also by all other Companies in Biscuits ???? Segment:)
214.12. Kishore S| Link| Bookmark|
December 11, 2020 9:47:25 AM
Top Contributor (200+ Posts, 100+ Likes)
Thanks Owls eye. You are correct. But that impact should be only in the first quarter. It may not continue in subsequent quarters
1. This company does not do any sauces, syrups, salad dressing etc. That is a separate company altogether formed through a family settlement and brand separation (RHP page 151). This company does only breads, biscuits, buns etc. (completely bakery based business). Their goods are essentials and thus worked despite lockdown.
2. This company (product profile wise) is most comparable to Britannia (RHP Page 114) - and Britannia has also delivered stellar growth and margins during these past 2 months. But they do not have the size, inventory management or distribution. Can call it Mini Britannia.
Xcapital thank you for correction. yes i actually actually did some compare with Britannia
just some numbers
market share Britannia 38% Bectors 1% growth last three years revenue 5% EPS 20% for Britannia Bectors flat to minus
Britannia market cap is around 90000 crs at PE of 50 for 38% share in market Sector 1% share on Britannia comes to 2400 crs. but will like to discount this by 30% which gives it market cap of approx 1700 crs which also happen to be IPO values the company at 1700crs .
so correct priced GMP at present is difference 2400 -1700 = 700 crs which IMO is giving the company the best case possible.
I will apply but will sell will not keep for long term
At 1700 Cr market cap on 2020 result PE is close to 50. According to MD first half is really good has grown by 32% say this increase bottom line by 40% for 2021 42 Cr still at 33.33 PE it not cheap
Thank you Septa ji, you are spot on with your reasoning and estimates. It's just that I've been using forward multiples for valuation.
I personally think this should have 40% discount to Britannia (lower margins, smaller size, lesser distribution, inventory management not as good). Britannia trades at FY21 P/E of ~45x (as per recent research reports). 40% discount means Bector's should be valued at ~27x FY21 PE. Even if they deliver 12 rs EPS for FY21 (Half year annualized EPS is already 13.6 rs), they should be valued at ~325 rupees per share (pre-money).
So while the IPO is priced very well for investors, I also think the GMP is surprising.
Which debt fund returns 8.5 percent? please don't mislead
214.21. Septa| Link| Bookmark|
December 15, 2020 8:42:50 AM
(4000+ Posts, 4600+ Likes)
KR LAKSHMANAN mislead ???? how will I mislead uninformed investors anyway many debts funds just one to mislead you HDFC SHORT TERM DEBT FUND GROWTH.
214.22. Septa| Link| Bookmark|
December 15, 2020 8:48:05 AM
(4000+ Posts, 4600+ Likes)
Gaurav Ramdev I had recommended Dilip buildcon just after listing at 250 anyway I came out when 5 bagger after that it came back to purchase price however I have not reentry my infra is more with steel cement and large cap infra
Mr. Septa I don't agree. First of all most mutual funds many charges applicable Entry Load Exit Load Expense Ratio and on top GST on the charges ..... And you choose deliberately HDFC for illustration. Also, this expense ratio is not fixed and why do even think debt funds will provide 10% in near future. Please don't mislead.
Yes i am mislead happy dozens of funds different AMC debt funds have given 8% plus return over long period 5 years 10 years but i am mislead..... Never Argue with Stupid People they will take you to there level.... Yes u caught me red hand misleading you all IPONEWbie :) topic over
Mr. Septa I am not here to offend anyone, I apologize if I have done so. :( See I have run multiple simulations on the past 5 years data and the final result is always the same, if you are an active investor better to buy nifty 50 tech and finance stocks periodically even on local minima or maxima of a given month doesn't matter and you could have easily got more 10 % return than buying debt funds.
Stocks at all time high, but global outlook positive after Biden own USA elections, with vaccine for Corona started getting available, with current stable domestic govt... movement will be stock/ sector specific. No major correction expected in medium term unless something goes unusually wrong ..