Reliance Nippon Life Asset Management Ltd IPO Message Board (Page 61)

Reliance Nippon Life AMC IPO

Market Pundits are estimating 5.50X oversubscription (applic-wise) in retail category
(i.e. 20,00,000 forms)

Eagleye

what are chances of listing gain ??

Mam, Kostak Price Please.. Advisable to sell App?

Mahindra logistics 130-135
Reliance Nippon 68-69 & 725/-
GIC-19 -21

Agar GMP 65-70 hai to listing gain hona hi hai & from now gmp agar badhe to pakka 20% or more listing gain hoga???

2008 ko jaru yad karo mat bhulna

2008 ko jaru yad karo mat bhulna

This IPO is insurance type or anything ?
should apply ?

Who cares for promoter. 650/700 me becho aur apply karo. 4% in 10/12 days. End of the story.

Tradable Kostak Rates :- Rs. 600-650

No meaning of any face value only anil ambani name is enough to describe loss(loss=anil ambani business)

Ekdum sahi

ADAG would be next IEX
All GMP would be -) listing.

agree

A very DAring Gamble....

A very DAring Gamble....

Reply
Credibility and market standing of the group is at rock-bottom, wherein the Group name is actually a ‘liability’ which will definitely weigh adversely on this issue to.
At Rs. 252, company’s market cap will be Rs. 15,422 crore, which leads to PE multiple of 37x and 34x based on FY17 and FY18E earnings. Although not like-to-like comparison, listed PE fund manager IL&FS Investment rently ruling at historic PE multiple of 25x.
Poor growth in profitability and promoter pedigree make this IPO a clear avoid, despite string industry tailwinds. ADAG group stocks, have time and again, been wealth destroyers for investors, which make exposure to this group ‘A very DAring Gamble’.

But they flipped(in Rpower) afterwards and gave subscribe call with tag '''' ride the momentum ''''

Extracted from SP Tulsian IPO Analysis however fully agree with & friends pl dont apply this IPO & make it super flop. Anil Ambani has destoyed the wealth of most of us poor investor. Its time to give lession.

Gmp 73-75

IN AHMEDABAD BROKER''S OFFER EXTRA CASH INCENTIVE FOR FIRST DAY BIDDING FORMS IN CNBC AWAZ YOU CAN HEAR PEHLE EK GANTE MEIN 100000 LAKH FORM A GAYE ON FIRST DAY THIS IS PURE MOMENTUM PLAY LIKE R POWER ......

Who is giving G.. ?

Rani Padmini lead a team of women who committed JOHAR in the fort. ( incinerated themselves to death). do apply in the very 1st second of opening of this ipo. retail investors too need a leader here.

At Rs 252, the PE ratio works out to 37 of FY17 earnings. There is no other listed AMC to do a peer to peer analysis. It is a very tricky situation as ADAG stocks usually command a discounted valuation but the company looks ripe for a 15% to 18% p.a. and higher CAGR over the next 4-5 years.

When the stock markets underperform, the AUM, Revenue and Profit growth slows down and thus this becomes a high beta stock. We believe that the market will offer opportunities to buy Reliance Nippon at a lower price than the issue price over the next few months.

To conclude, we suggest an AVOID for the IPO. We believe that the market will give opportunities to buy the stock at lower valuations and that the current price offers NO MARGIN OF SAFETY. The target is to buy good businesses at cheap to fair valuations. Reliance Nippon Life Asset Management is at premium valuations coming out with an IPO in a heated up market.

@ Arundp.
Fully agree. Valuation seem to be fair in present conditions but if market corrects, it will look stretched and again retail investors will be trapped as in rpower or other ADAG stocks.

............... Reliance Nippon AMC..............
________________________________________

=> 3rd largest MFs player by 11.5% mkt share
=> 2nd largest ETFs player with 25% mkt share
=> promoted by nippon life(125yr operating history-No 1 life insurance in asia & japan, AUM 30 lakh cr +) and R.cap
=> post issue both R.cap and nippon gonna hold 42.8% - 42.8%(so semi-professional management !!)
=> company planning to double branch network by 2021

AUM(Asset under management) of Reliance MF

1995..........2002...........2017
60cr.........2200cr........2,25,000cr+

_______________________________________
Last 5 yr........
AUM CAGR 22.2%
REVENUE CagR 18.2%
PAT CaGr 15%
PBT caGr 15%

Last 3 yr......
PAT CAGr 7%
PBT CAgR 12%
REVENUE caGr 22%

Last 3 yr PAT CAGR lower(than revenue) due to Marketing /publicity Expenditure jump dramatically,
2014/110cr..... 2017/390cr
(Yes u can hear/see their advertisements encouraging MF more often than others)

_______________________________________
Anil ji sold 51% in just 5 yrs(to save Rcom may b, vrna kaun sell krta hai aaisa business ko !!)

Buyer data :
Nippon life : 110rs average - 49% stack (2012/26%,2015/9%,2017/14%)
IIFL : 246rs - 2.5% stack(August 2017)

..... So issue price 252 is not that high! (bank FD bhi 7-8 yr me to double ho jata hai)
________________________________________
Valuation :

@252
2017 EPS 6.85 => PE : 37
2018 estimated PE => 35-36

Book value 31.7 rs=> PB : 7.9x

M.CAP post issue (@252) 15425cr, Networth 1892cr,
PAT 403cr,Revenue 1435cr,
Profit Margin 28%
Ronw 21%

=> M. Cap =11x revenue,
is not highly priced for MFs business imo.
(EV/sales =?, Ur task)

.... MF industry to Grow 20% CAGR in 2017-2022

So, mkt may/should give this industry to 45-50PE, 10-12PB

45PE = 308(listing day tgt)*

10PB = 317(till new year )
50PE = 342(till valentine''s day)
12PB = 380(till Rakhi)

_____________________________________
Allotment :

Nearly 3.63L forms required for 1x,
Looking at negativity(ADAG) among RII
Expecting only 10L forms i.e 1/2.75,

So Allotment ratio may come near 1/3 (Fair chance)

Should u sell on kostak?
If kostak 600, NO (u sold @283)
If kostak 700,NO(u sold @ 287)
If kostak 800,NO(u sold @ 292)

.... This price range depends on app wise subscription

U may sell if gets kostak 800+,like 900/1000 type.

____________________________________

ConcL(my view)


Biggest plus point is Nippon life, worst point is ADAG but still looking at the gem business segment(especially in 130cr people''s country, everyone planning to buy MFs now a days ) ,
U will not get this at below issue price on listing, listing gain imo should be atleast 2 FD !!

@AKH ji, hmm i should hv written, but
R.cap is indian company and listed long ago so i presumed everybody already know!

Here''s R.CAP

Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India’s leading and most valuable financial services companies in the private sector. Reliance Capital has interests in asset management and mutual funds; life, general and health insurance; commercial & home finance; equities and commodities broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

Reliance Mutual Fund is amongst the top Mutual Funds in India with over six million investor folios. Reliance Nippon Life Insurance and Reliance General Insurance are amongst the leading private sector insurers in India. Reliance Securities is one of the India’s leading retail broking houses and distributors of financial products and services. Reliance Money and Reliance Home Finance are one of the most rapidly expanding businesses in the lending space.

Reliance Capital has a net worth of Rs. 16,692 crore (US$ 2.6 Billion) and total assets of Rs.82,209 crore (US$ 12.6 Billion) as on March 31, 2017.

Full name :

R. Cap = Reliance Capital
ADAG = Anil Dhirubhai Ambani Group

Don''t kn why people making big deal of Rpower here, that was hugh mistake done by we only, ADAG hv nothing to do with it,

Ipo came @430

Means PE 5000+(clearly mentioned in drhp)
PB = 43x+
Ronw = 0.1%(joke!!)

Any u subscribed heavily???



SPT expected price band report was :

Expected Band - As the company has estimated a fund requirement of Rs.6,148 crores plus fund for general corporate purposes and issue expenses, the same is estimated at about Rs.7,000 crores. Hence, price band could be between Rs.50 to Rs.55 per share, by which Rs.6,500 crores to Rs.7,150 crores can get mobilised, which is less than US $ 2 Billion.

Check truth of report by urself!

Discl : started investing in mkt after 2013

Anil KO maf Karo n apply,Good rating by CM,Dalal street journal n ,Dilip Davada .Sure earning ,apply at 2.30 after seen data of qib ,hni

Do we get more priorities when we apply more than 1 lot at the time of allotment as compared to those who apply only 1 lot.

Experts suggestions plz ..

Thank you

Trap. Ignore this ipo lot of good Ipos coming in pipeline. He doesn''t deserve a single rupee from us. Let the issue get scrapped.

Still we Remember "RELIANCE POWER" Mr Anil Ambani... You are cheater....

Listing price expected 320 to 350 depending on market condition on the date of listing