Sapphire Foods India Limited IPO Message Board (Page 9)

Took a huge risk and applied for 30 lots in Sapphire. Will sell on listing time itself, if it looks really bad upon listing. Anyway, don''t have fund to invest more than 30 lots for now. Waiting for refund from Sigachi (got mail today morning, but lien not removed as yet) to apply for Latent View. Should I apply for Latent View as a retail investor for 1 lot or as HNI for 14 lots (no more funds as of now) considering that it will be a lottery system for both types? Suggestions please.

@DuckkyDuck

I applied through SBI Internet banking (ASBA) by linking my Zerodha Demat Account. Hope it''s clear to you now.

Now showing credit of shares in my demat account.

Apply

any logic ?

QIB crossed ----------- 2.5 times.
No improvement in NII/HNI.
Fingers crossed. Very little time left for decision.

Go colors ipo
Date :- 17-19 November
Amount :- 800 cr

go fashion
17th - 22nd NOV

Yes lokes closing is on 22nd Nov....thanks for correction

Apply or skip?
I''ve time till 2pm

Not much Subscription expected in HNI Category.. Avoid from my side

What is happening?

No improvement in subscription figures. Any specific reason?

Flop show till this time.

Yes money blocked for Policy Bazaar not released yet in my State Bank, HDFC or Indian Bank.. I think many others too waiting like me

What is the GMP

QIB --- 98% subsribed.

Kindly inform, what will be latest time for accepting UPI mandate for application to be subscribed.

Earlier someone has mentioned upto 12 pm next day of closing day.

Is it correct, if not what is latest time.

YES 12PM NEXT DAY

Which broking company offers free demat account for minors,with zero AMC charges

Zero amc belowo 50,000 holding is actual more costlier as they charge as high 75 rs per transaction both side

Go with Pro stocks. Best for Minor.

Allotment out
My ASBA block is released
got Nil

If you are not high, you are talking about sigachi 😅🤣😂

My Apologies. Ankur you are correct.
Kindly ignore my message here

Fund will release for torsions ipo

So this one also lived to my expectations.....ye ipo bhi nahi mila ;-)

wanted to post this message in sigachi posted here by mistake

Sapphire Foods India - For those who care beyond the GMP (based on FY21 consolidated financials & post-money (top end of the price band)):

Tax Adj. RoCE (%): -12.1%
RoE (%): -21.6%

EV / Revenue (X): 7.4x
EV / EBITDA (X): 60.8x
P / E (X): NA

For context, Devyani was priced at 9.4x EV / FY21 Revenue, about 3 months back and currently trades at about 16x EV / FY21 Revenue. So from that standpoint this looks attractively priced but not when one notes that they have significant Sri Lanka operations which don''t deserve the same valuation as India operations, given the potential size and growth opportunities of both countries. But all that is only if you feel that Devyani is a must buy at 16x Revenue. IMHO, Devyani was and Sapphire too is avoidable. There are better QSR/food service stocks available in the market, albeit expensive but with better return ratios and potential, that one could go with from a long term perspective. Pure OFS in Sapphire is not as much of a worry for me as is the fact that Pizza Hut is an uninspiring part of the business, currently and also that its completely Private Equity owned who will keep selling stock in the market in the future to exit. The business has a good cash flow profile so current debt and future growth can be managed. However, the significant exposure to Sri Lanka which is going through a food crisis and has massive capital control restrictions on outward remittances, doesn''t inspire confidence. Perhaps, there is a strong case for both Devyani and Sapphire to merge and consolidate operations and realize cost efficiencies and build scale to match Jubilant Foodworks and its might.

The <10% GMP too is artificial and rather uninspiring for me but Devyani did offer a great listing pop and this may too and that does inspire a lot of folks but its a skip for me! Keep minting!

Excellent NeoLongus, Keep it rocking....

I thought of applying at first, made fund ready for my retail applications, even some listing gain too possible same like Devyani..

But when I understand on their preferential allotment at around 500rs price Just 3 months before (Aug 2021) to their Mauritius arm (Tax saving heaven) and now this Mauritius wing fully dumping at double rate within 3 months, I don''t feel it is Fair...... at least for me... Hence dropped from applying...

Just applying Latent

@NeoLongus - very nice information & interpretation to share. Will surely decrease my HNI exposure to Sapphire.

@Retail ipo - I always value transparency in management while evaluating IPO< & this unethical (unethical to me) practises like OFS, previous private placement of shares at very low price, tampering with accounts etc. decrease my confidence in company management, & adversely affect my subscription status.

I have huf and minor bank account in HDFC Bank. Can I Apply with UPI Id in IPOs?

Recently they did a preferential allotment of 9,189,789 shares on 505.13rs per share on aug5th 2021. And those shares are being ofs now @1100 range. A big avoid to this ipo from my side.

okay

Umm... So?
Why do we care if Promoters are getting a good partial exit? We should care about weather we are getting a good deal or not, right?

And from valuations pov, it is a good deal. Sapphire is coming at less than half the valuation as Devyani International, even though thier revenue is only a bit less. I think that''s because sapphire operates half the stores as Devyani (450 vs 800), thought this just implies that Sapphire''s Per store revenue is better.

From growth pov too, they got 300 stores in 2015 when they started, and in next 5 years that''s grown 50% to 450. Pretty good expansion.

Lastly, the promoter in question holds 2.8 cr shares (and are selling just 0.5 cr. shares). They have helped the company grow, and they are staying for the future too. So why shouldn''t they get a good reward in between?

Unlisted shares ki valuation is fleeting and fickle. No one is saying ki Aug 2021 se Nov 2021 mai sapphire ki valuation inherently double hui ho.... It''s just catching up to where it will end once it stabalises post listing.

Skipping this one..will add devyani more if that comes below 130

Risk reward is not favourable..

I think 5 to 10% listing gain is possible.

in the Past such kind of food chain IPO has not showing discounted listing.

Further if subscribed 10 to 15% times in HNI , I will definitely applied

Full subscribed on day2, might be we expect more than 50x by tomorrow.

This too does not seem to be a great IPO. But looking at QSR/ Restaurant stock list at premium, one may invest. QIB subscription may increase substantially on last day.