58.1. Eagleye| Link| Bookmark|
June 25, 2016 12:55:59 AM
IPO Guru (6600+ Posts, 21900+ Likes)
Yes, L&T infotech immediately after Quess
And aftet that Advanced Enzymes is immediately after L&T infotech
And also RBL Bank is immediately after Advanced Enzymes.
So July is going to a real busy season at Chittorgarh... Time to brace up !!
58.2. Eagleye| Link| Bookmark|
June 25, 2016 12:57:40 AM
IPO Guru (6600+ Posts, 21900+ Likes)
So many DRHPs to read & Just as many RHPs to digest ... Just too much homework pressure ... Reminds me of my college exams time ... Deadlines deadlines deadlines !!!
58.3. Septa| Link| Bookmark|
June 25, 2016 3:56:57 AM
(4000+ Posts, 4600+ Likes)
BTW can u share 2016 JFM profit details which u have mention as 24 Cr Thank You in advance
58.4. Septa| Link| Bookmark|
June 25, 2016 3:58:25 AM
(4000+ Posts, 4600+ Likes)
For advanced Enzyme
58.5. Earthking| Link| Bookmark|
June 25, 2016 11:27:49 AM
IPO Mentor (1100+ Posts, 400+ Likes)
Eagleye is grey market activity started for L&T infotech ? As i said earlier my frd is an employee in l&t infotech ... So planning to apply in employee quota ... Now is for employee too 2 lakh limit applicable as in retail quota ? Eagleye and septa enlight me please ...
BREXIT may have very little impact on these ipos. Both belong to must apply category
57.3. Eagleye| Link| Bookmark|
June 24, 2016 9:59:43 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Maruthi Sir,
Are you aware of the IPO price band for L&T Infotech? ... or are you saying its a "must apply category" irrespective ... even if the price is Rs.5/- or Rs.55/- or Rs.555/-
Simply because it is L&T does not mean that it is a "must apply" .. remember the last public issue by L&T? .. it was "L&T Finance" .. did you invest in that one ? ... have you forgotten the losses?
Only 20 per cent from Europe not sure how much comes from UK. the success of this IPO will all based on what price they come up L&T Infotech’s revenue rose 2.15% to Rs.4,744 crore for the year to March from Rs.4,644 crore a year ago. Net profit fell 14% to Rs.774 crore from Rs.903 crore a year ago. mphasis is straight comparable around the same NP and revenue . It market cap is around 11000 Crs if L& t Infotech comes below this price then it is good IPO if not it is avoid better option would be buy L& T then L& T Infotech IMO if the price to too high
Brexit has no connection with success and flop of this IPO IMO
Advance Enzyme 6 months eps is around 16 so annualised is around 32. however 2013 eps was around 23 and 2014 was around 9.25 ( not sure why such a big drop was it drop in profit or increase in share capital however in year 2015 the eps is back to 23 which is good and TTM eps for six months is also good at 176 so annualised is around 32 since no peers in indian market international Novozymes is currently trading at approx PE of 30X so TTM of Advanced enzyme is around 22 so at 30x 22 price is Rs 660 however if u take last performance which is 32 so 30x32 is 960 so IMO the right price should be below Rs750 anywhere between 660 to 750
thank u for sharing so price is on the higher side compare to international peers. not sure how the market will take if they rate this as a FMCG like SH kelkar then 40 PE is fine which IMO is high.... at 925 is 29 PE
55.3. Eagleye| Link| Bookmark|
June 24, 2016 8:14:12 PM
IPO Guru (6600+ Posts, 21900+ Likes)
The closest comparable peer are ...
Novozymes (Denmark) & DSM Nutritional Products
55.4. Eagleye| Link| Bookmark|
June 24, 2016 9:52:43 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Please share your assumptions ... to arrive at ... "at 925 is 29 PE"
My working is herebelow
Advanced Enzyme IPO
PAT = Rs.24.Crs (JFM Quarter) PAT = Rs.96CRs. (Annualized) No. of Shares (post-IPO) 22,397,179 EPS 42.86
So if IPO is priced @925 .. then PE = 21.58 (ballpark)
both these company r huge one is 14 billion dollar company and another is 10 billion dollar company PE of 32 to 42 however DSM sales to book value is close to 1:1 and Novoz is 6:1 however Advanced enzyme is 9:1 . Both these company have operation in india.
Also we need to consider that food enzyme is better option then industry chemical used in r food and beverages so this market will grow significant growth owing to increasing substitution of chemicals with industrial enzymes particularly in food & beverage and nutraceutical applications.
let wait and see how they price it is food growth sector for future with growing process food industry in India
55.6. Eagleye| Link| Bookmark|
June 24, 2016 10:03:56 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Hold on to those thought ... Advanced Enzymes is far away ... almost 3 weeks later ...
i agree if the profit for JFM is around that then it is no brainer one should apply also given the fact food enzyme market is growing. let wait and see
With regards to Quess i am applying in regards to L&T infotech any idea price band or ballpark price band
my assumption r based on 2015 EPS and 6 months EPS from DRHP from page 118. BTW can u share 2016 JFM profit details which u have mention
55.9. Eagleye| Link| Bookmark|
June 25, 2016 11:17:17 AM
IPO Guru (6600+ Posts, 21900+ Likes)
Advanced Enzymes IPO
Analysts'' estimated PAT for :
FY 15-16 Rs.80Crs. JFM’16 Rs.24Crs.
AMJ’16 Rs.26Crs. FY 16-17 Rs.115Crs
These are only estimates ... given to me by various analysts ... this data needs be verified by the financials which will be available in the RHP
As I have said before ... Advanced Enzymes is far away ... almost 3 weeks later ... so no point in speculating based on hearsay ... let us revisit this discussion once the RHP is made available ... and as such this will be my last posting for Advanced Enzymes
In the meanwhile, let us prioritise Quess Corp and L&T Infotech ...
53.1. Eagleye| Link| Bookmark|
June 24, 2016 5:35:17 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Please scroll down ... and see my earlier posting ...
Eagleye Jun 23, 2016 12:15:43 AM IST QUESS CORP LIMITED (Refer Page No 457 of RHP dated 20th June 2016)
28/Jun/16 – Participation by Anchor Investors 29/Jun/16 – Bid/Offer Opening Date 01/July/16 – Bid/Offer Closing Date 07/July/16 – Finalisation of Basis of Allotment 08/July/16 – Unblocking of Funds from ASBA Account 11/July/16 – Credit of Equity Shares to Demat Account 12/July/16 – Commencement of Trading on NSE/BSE
GUD DEATAIL ABT THE IPO SPECIAL THANX TO SEPTA .RKS N EEAGYLE SIR THEY ARE PUTTING SMART EFFORT TO COLLECT INFORMATION WHICH IS VERY USEFUL.THANX TO ALL FRNS ðŸ‘ðŸ‘ðŸ‘ðŸ‘ðŸ‘ðŸ‘
50. Eagleye| Link| Bookmark|
June 24, 2016 4:16:43 PM
IPO Guru (6600+ Posts, 21900+ Likes)
I think , l n t Infotech will also postpone it''s IPO plan due to potential severe Brexit impact on IT sector, being most of d companies based in UK will stop/marginally reduce spending on IT support services, which will impact the top as well as bottom line of entire IT industry.
Lately I have been peeking into some ''House of Debt'' names: Lanco, GMR, GVK, JP Associates... They are all beyond redemption given extreme debt levels. But, some of these have good quality assets (Airports, Infra assets, Power Assets, Land bank etc) which they will most likely sell in order to pacify the lenders breathing down their neck(s). Recent RBI policy changes (e.g. SDR Mechanism) have given some more teeth to the lenders. All these companies have a part of their WC trapped by SEBs (their main debtors)- UDAY Scheme might help revitalize these financially distressed entities.
These are not the stocks for ur core portfolio but if ur able to enter at right price, you can take one good puff.
2 ''simplified'' criteria for such distressed stock investing are: (1) choose a company which is only ''financially'' troubled not operationally i.e. is able to generate reasonable operating profits even though huge interest costs may be driving the bottom-line deep into red. (2) has good quality assets for de-leveraging. All the above mentioned names have a good, thriving, EPC segment but their ''Power'' & ''Natural Resources'' segments are a mess. None of these meet these criteria fully. However, JPA has rich assets followed by GVK & GMR. I''ll enter JPA/GMR/GVK at price 5.70/10.90/4.40, if ever.
I was just wondering if any of the boarders fancy these cheap cigarette-butts (I would have called them Cigar-butts if they met Ben Graham''s criteria).