Sonu Infratech Limited IPO Message Board (Page 6)

@dilip deva

One of the most reliable analysis always..I observe him since last five years...earn lots of money on his recommendation....thanks to chittorgarh admin for holding this gem since long....

Shanm, i want to apply here and most likely apply here but i havent analysed this ipo and company fully. seems some concerns about debt part. Lets wait for other opinion.
Good things -
Dilip devda sir review of may apply.

@Shanm, @snipperRaj
I may apply here with small lots only (need to have cash for any sell off in secondary market). Lets see the closing day subscription

about high debt: I agree with @somsundar # 15.1(its a concern but not major worry as Construction Contractors work with high debt as long as they enough order book)

Thanks

@ snipperRaj & @ MRavi,
Thanks a lot.
Yes, I agree that the debt for construction company is usual & it will be liquidated during every project completion/milestone payments receipts.
Regular order booking & enough work backlog matter.

@MRavichandran... without any information on GMP is it not too much risky to apply here?Ofcourse fundamentals are not bad and Dilip Davda ji is saying "may apply"

@IPOANALYSIS Sir , are you going to apply in Rainbow mainboard IPO?

@ IPO POWER New HNI rules will not apply here because it is fixed price IPO.

SEBI (ICDR) Regulations 2022
SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018

CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD
In Regulation 32
Sub Regulation 3A is inserted

CHAPTER IV - FURTHER PUBLIC OFFER
In Regulation 129
Sub Regulation 3A is inserted

Both these Sub Regulation splits the HNI into 2 Category

Category I - Rs 2 L to 10 L
Category II - Above Rs 10L

So these new HNI Rules apply only to IPO on Main Board and FPO and involves book building process.

These Rules not applicable SME IPO as it is dealt by
CHAPTER IX - INITIAL PUBLIC OFFER BY SMALL AND MEDIUM ENTERPRISES

These new HNI rules does not apply to SME IPO on Book Building Process and Fixed Price Method. (Not applicable to SME IPO at any case)

Reg 32(3A) and Reg 129(3A) are same and produced below for reference:
(3A) In an issue made through book building process, the allocation in the non-institutional investors’ category shall be as follows:
(a) one third of the portion available to non-institutional investors shall be reserved for applicants with application size of more than two lakh rupees and up to ten lakh rupees;
(b) two third of the portion available to non-institutional investors shall be reserved for applicants with application size of more than ten lakh rupees:
Provided that the unsubscribed portion in either of the sub-categories specified in clauses (a) or (b) may be allocated to applicants in the other sub-category of non-institutional investors.