S Chand and Company Ltd IPO Message Board (Page 50)

Forum moderator, please add page for IRB inv fund IPO.

Seems Moderator has heard you. There is new page for IRB InvIT.

Do anyone remember Narayana Hrudayalaya(NH) ipo??

At that time same fight had there btwn valuation and brand name..but what hppnd ???......listed 17% up and rallied onther 17%(which had commanded a way more valuation than peers.. On basis of what? ?...future expansion plans and a brand name only.. . ).

....i believing/hoping same for S Chand also( i. e atleast 15% listing gain*)


......so mkt one or other way like brand name/reputation/etc(at the time of listing atleast :-))

.....one should also not forget about present mkt condition (good enough for listing with premium of any valuation ipo)


...valuation is little stretched but comparing with what? Navneet is not exact peer ..S chand have more value to unlock than Navneet imo.


......PE oF 40 (2016) is justified or not only time will tell.. .but THEY SHOULD HAVE PROVIDED A COMPARISON OF 9M 2016 WITH 9M 2015 OR ATLEAST DATA OF LAST QUARTER OF 2016. IF Anyone hv that then share it here.


S Chand the Conclusion.....

This is not like D mart or BSE or Shankara but also not like CL educate and one should give a chance for a well reputated 1970''s promising company.

Expected return : 15%*

Septa sir .....not comparing at all both. ..just give an idea at what level we(RII) proved wrong despite all ground/financial work..

....if NII above 50/75x then negative listing is nxt to impossible.

IMO best option is sell in grey market and pocket 500 per application however in chennai brokers r very in active to take any position

Anchor report out

https://www.nseindia.com/products/content/equities/ipos/ipo_current_schand.htm

http://www.bseindia.com/markets/MarketInfo/DispNoticesNCirculars.aspx?page=20170425-32

Thank you.

Apply or not this IPO any one suggest me

S Chand and Company Ltd - Anchor Investors List                        
                        
                  
1 THE NOMURA TRUST AND BANKING CO. LTD              3,43,288       10.52%
2 EASTSPRING INVESTMENTS              2,98,518       9.15%
3 HDFC TRUSTEE COMPANY LIMITED              2,98,518       9.15%
4 HSBC GLOBAL INVESTMENT FUNDS - INDIAN EQUITY             2,68,664       8.24%
5 RELIANCE CAPITAL TRUSTEE CO LTD             2,23,894       6.86%
6 BIRLA SUNLIFE TRUSTEE COMPANY PRIVATE LIMITED              2,23,894       6.86%
7 AXIS MUTUAL FUND TRUSTEE LIMITED              1,79,124       5.49%
8 KOTAK MF LTD             1,79,124       5.49%
9 SUNDARAM MUTUAL FUND              1,79,124       5.49%
10 HDFC STANDARD LIFE INSURANCE COMPANY LTD             1,79,124       5.49%
11 SBI LIFE INSURANCE COMPANY LIMITED             1,79,124       5.49%
12 VOLRADO VENTURE PARTNERS FUND II             1,79,124       5.49%
13 NOMURA SINGAPORE LIMITED             1,98,176       6.07%
14 BNP PARIBAS ARBITRAGE             2,33,398       7.15%
15 INDUS INDIA FUND (MAURITIUS) LIMITED             99,100       3.04%
                        
            
Total Allocation :-     32,62,194 Shares                                      
Total Amount :-     218.57 Crores                   

IRB InvIT Fund, which is sponsored by road developer IRB Infrastructure, will open its Rs 4,654.6 crore initial public offering for subscription on May 3, 2017. The price band for the issue is fixed at Rs 100-102 per unit.
The issue comprised of a fresh issue aggregating up to Rs 4,300 crore by the Trust and an offer for sale of up to 3,47,61,770 units by IRB Infrastructure Developers, Modern Road Makers Private Limited, Aryan Toll Road Private Limited, ATR Infrastructure Private Limited and Ideal Road Builders Private Limited, the company said in its media release.
The issue will close on May 5. The bid for anchor investors’ reserved portion will be opened for one working day prior to the issue opening date.
Minimum application size for bidders other than anchor investors and strategic investors bidding in the anchor investor portion is Rs 10 lakh, the company said.
Bid can be made for a minimum of 10,000 units and in multiples of 5,000 units thereafter.

S Chand IPO

Anchor Investor List ?

this will adverse effect S chand future earning

http://timesofindia.indiatimes.com/city/nagpur/state-edu-dept-steps-on-cbses-shoes/articleshow/58350911.cms

Nagpur DDE Anil Pardhi told CBSE principals that "all state government rules and bylaws apply to your schools as well". Pardhi''s letter starts off by saying that only NCERT books are allowed in schools and if they are unavailable in the market, then books can be downloaded on www.ncert.nic.in and printed if required.
CBSE, on its part, does not mandate use of NCERT books.

i just checked my kids books they are ward in chennai based school this year books issued by this school are NCERT books. if any of kids going to CBSE school check books

S.P Tulsian found expensive and advice to leave it .

https://www.sptulsian.com/free-zone/ipo-analysis/S-Chand

Sptulsian asked to skip sheela foam and interglobe aviation too.His analysis is very conservative most of the time

S chand ipo priced above 40PE...better to avoid ( listing gain may possible...!! i hate losing money better be safe then sorry ) S chand trying to catch market bullishness and have hiked the price band by Rs100 after listing of Dmart and Shankara Buildcon IMO that not possible for all ipos.will avoid it.No further discussion req on fundamental .

S Chand 162. 165

ANAND WORK SHEET
Name            S. Chand & Company Ltd                                                                  
Last Financial Period (LFY)            31/03/16                                                                  
Last Interim Period                                                                              
Currency            INR                                                                  
Denominations                              in millions                                                
                                                                              
PROFIT AND LOSS STATEMENT                                                                              
                                                                              
            Actuals                  Projections                                    CAGR      CAGR      CAGR
            2014A      2015A      2016A      2017E      2018E      2019E      2020E      2021E            2014-16      2017-21      2014-21
Turnover            3709.5      4785.0      6676.2      7749.7      8995.9      10442.4      11785.7      12998.6            34.2%       13.8%       19.6%
% growth            --      29.0%       39.5%       16.1%       16.1%      16.1%      12.9%      10.3%                        
EBITDA            797.8      1040.4      1764.3      2048.0      2377.3      2759.6      3208.0      3644.3            48.7%       15.5%       24.2%
% growth            --      30.4%       69.6%       16.1%       16.1%       16.1%       16.2%       13.6%                         
% margin            21.5%       21.7%       26.4%       26.4%       26.4%       26.4%       27.2%       28.0%                         
D&A            123.0      225.4      267.9      311.0      361.0      419.0      472.9      521.6                        
as a % of revenue            3.3%       4.7%       4.0%       4.0%       4.0%       4.0%       4.0%       4.0%                         
EBIT             674.8      815.0      1496.4      1737.0      2016.3      2340.6      2707.7      3061.0            48.9%       15.2%       24.1%
% growth            --      20.8%       83.6%       16.1%       16.1%       16.1%       15.7%       13.0%                         
% margin            18.2%       17.0%       22.4%       22.4%       22.4%       22.4%       23.0%       23.5%                         
Interest Expense            94.6      282.6      488.6      567.1      658.3      764.2      1017.5      1290.1                        
EBT            585.9      536.6      1007.9      1169.9      1358.0      1576.4      1690.2      1771.0            31.2%       10.9%       17.1%
% margin            15.8%       11.2%       15.1%       15.1%       15.1%       15.1%       14.3%       13.6%                         
Tax Expense            160.1      195.3      335.9      511.7      594.0      689.5      679.2      644.8                        
PAT            423.4      268.5      567.0      658.2      764.0      886.9      1011.0      1126.2            15.7%       14.4%       15.0%
% margin            11.4%       5.6%       8.5%       8.5%       8.5%       8.5%       8.6%       8.7%                         
Dividends per share            --      --      --      --      --      --      --      --                        
% growth            --      --      --      --      --      --      --      --                        
                                                                              
                                                                              
BALANCE SHEET STATEMENT                                                                              
                                                                              
Cash            176.0      213.2      99.5                                                      
Accounts Receivables            2309.3      3417.3      4009.9      4310.7      4829.3      5304.9      5718.9      6079.1                        
DSO            --      218      203      196      185      177      171      166                        
Inventory            839.0      1197.0      1503.4      1567.3      1782.2      1944.1      2102.8      2231.7                        
DSI            --      78      74      72      68      65      63      61                        
Other Current Assets            159.0      186.9      391.2      391.21      391.21      391.21      391.21      391.21                        
as a % of revenue            4.3%       3.9%       5.9%       4.9%       5.0%       5.0%       4.3%       3.8%                         
Total Assets            5769.2      8259.7      11900.0                                                      
                                                                              
Accounts Payables            991.58      1357.9      1614.5      1725.1      1938.3      2126.3      2293.7      2437.4                        
DPO            --      90      81      79      74      71      68      66                        
Other Current Liabilities            83.7      134.9      133.9      180.1      210.2      233.7      270.5      297.4                        
as a % of revenue            2.3%       2.8%       2.0%       2.3%       2.3%       2.2%       2.3%       2.3%                         
                                                                              
Debts            920.0      2424.4      3581.0                                                      
                        2061.0                                                      
                                                                              
CASH FLOW STATEMENT                                                                              
                                                                              
D&A            123.0      225.4      267.9      311.0      361.0      419.0      472.9      521.6                        
Change in WC            (190.0)      (948.0)      (801.7)      (207.9)      (490.2)      (425.9)      (368.6)      (318.5)                        
Capex            406.3      1,046.7       942.1      1093.5      1269.4      1473.5      1663.0      1834.2                        
as a % of revenue            11.0%       21.9%       14.1%       14.1%       14.1%       14.1%       14.1%       14.1%                         
                                                                              

No, it is not based on EE numbers although projections are quite identical. I have done this analysis long back when tentative price was around 570. I did said that it won''t list at discount as I was expecting listing at 600 levels.

Sorry for the confusion what i meant even if you had used EE data the result will be almost same Btw my Intrinsic Value is around 676 so not much left on the table at price band of 670

My experience shows equity investment is not past numbers but future numbers which u call call it as gut feeling!!

i guess u thought 4 digit for s chand :)
must be typo or u changed ur view !!!

Sorry one more dot ....oops I mean zero :)

south journey started
premium : 162-165

273. Dot Apr 25, 2017 10:58:13 AM IST I Like It. | Report Abuse Reply
S chand

Premium : 185-188
Kostak : 550-590

Good opportunity to sell right now... May not last till evening

waiting for EE for her side premium

S chand GMP 170
Kostak 550

Who buy in IPO form ahmedabad borkers???? I want to sell

Sir, i want to sell my 50 applications of s.chand,
how can i sell it, i am sub broker and genuine person.

I just went back looked at the last IPO which i avoid and it listed handsomely

this is what DCF for Sheela Form i got Fair price Rs742 and Intrinsic Value 989 it listed for Rs1030 actual not that far from my DCF intrinsic price, I avoid this IPO bcoz i had issue with corporate governance and increase raw material cost and not that bullish on deposable income sector just before demonisation

AT LEAST MY DCF WAS RIGHT IF I NOW LOOK AT MY DCF ESTIMATE I WOULD HAVE APPLIED

HOWEVER IN CASE OF S CHAND IT IS CLEAR CUT AVOID

127. Septa Nov 29, 2016 7:53:14 PM IST I Like It. 2 | Report Abuse
IPO Guru IPO Guru (3500+ Posts, 1800+ Likes)
Discloser i am avoiding this IPO. Removing liquidity from market is dangerous for the economy and this discretionary expenses will have adverse effect
Thanks to Modi Ji this issue is coming at this price band. if not it will would have come close to 40 plus PE given it comes under discretionary expenses and would be very handsomely subscribed

My discount cash flow analysis

Initial Cash Flow: $1,32,20,00,000

Years: 1-5 6-10
Growth Rate: 15% 11%

Terminal Growth Rate: 5% Discount Rate: 10%

Shares Outstanding: 4,87,82,808 Margin of Safety: 25%
Debt Level:

Year Flows Growth Value
1 1,52,03,00,000 15% $1,38,20,90,909
2 1,73,31,42,000 14% $1,43,23,48,760
3 1,95,84,50,460 13% $1,47,14,12,817
4 2,19,34,64,515 12% $1,49,81,65,778
5 2,43,47,45,612 11% $1,51,17,85,467
6 2,70,25,67,629 11% $1,52,55,28,971
7 2,99,98,50,068 11% $1,53,93,97,416
8 3,32,98,33,576 11% $1,55,33,91,938
9 3,69,61,15,269 11% $1,56,75,13,683
10 4,10,26,87,949 11% $1,58,17,63,807


Terminal Year $4,30,78,22,346

PV of Year 1-10 Cash Flows: $15,06,33,99,546

Terminal Value: $33,21,70,39,954

Total PV of Cash Flows: $48,28,04,39,500

Number of Shares: 4,87,82,808

Intrinsic Value (IV): $989.70

Margin of Safety IV: $742.28

What Percentage of IV comes from 69%
the Terminal Value:

That''s why trying hard to convince u :)

:) i need number not some gut feeling

S CHAND IPO

GMP- 188-192
APP-550-600

Sir, i want to sell my 50 applications of s.chand, how can i contact u,
i am sub broker and genuine person.

IN MY ANALYSIS I GET A FAIR VAULE OF Rs 508 with same assumption of growth and bottomline at Rs 670 this iPod is full priced for all the growth for next few years IMO it will list discount to IPO price around 625. Rs 1000 list as nidhike put is only possible if market in next 10 trading season jumps to 35000

so avoid fundamental

Initial Cash Flow:       Rs 68,00,00,000.00                   
                        
Years:      1-5      6-10            
Growth Rate:      12%      5%            
                        
Terminal Growth Rate:      5%            Discount Rate:      11%
                        
Shares Outstanding:      3,50,16,910            Margin of Safety:      25%
Debt Level:                        
                        
Year      Flows      Growth      Value      
1      78,88,00,000       16%       Rs 71,06,30,630.63       
2      91,50,08,000       16%       Rs 74,26,41,019.40       
3      1,05,22,59,200       15%       Rs 76,94,02,857.93       
4      1,21,00,98,080       15%       Rs 79,71,29,087.05       
5      1,37,95,11,811       14%       Rs 81,86,73,116.43       
6      1,57,26,43,465       14%       Rs 84,07,99,416.87       
7      1,77,70,87,115       13%       Rs 85,59,48,955.92       
8      2,00,81,08,440       13%       Rs 87,13,71,459.63       
9      2,24,90,81,453       12%       Rs 87,92,21,652.96       
10      2,51,89,71,227       12%       Rs 88,71,42,568.75       
                        
                        
Terminal Year       Rs 2,64,49,19,788.71                   
                        
PV of Year 1-10 Cash Flows:                   Rs 8,17,29,60,765.56       
                        
Terminal Value:                   Rs 15,52,49,94,953.10       
                        
Total PV of Cash Flows:                   Rs 23,69,79,55,718.66       
                        
Number of Shares:                  3,50,16,910       
                        
Intrinsic Value (IV):                   Rs 676.76       
                        
Margin of Safety IV:                   Rs 507.57       
                        
What Percentage of IV comes from                   66%      
the Terminal Value:                        

LOOKS LIKE THEY ARE TAKING ADVANTAGE OF MARKET CONDITION

I WOULD STAY AWAY FROM BAD IPO WHICH ARE PRICED ON HIGHER SIDE.
NOT EVERY IPO NEED TO BE APPLIED.

Can anyone please share the anchor list...

Just wait for the list of anchor investors which should be out by 8pm & then take a call .