TeamLease Services Ltd IPO Message Board (Page 42)

which city

This morning it did go down to 190 for a brief while .. but did not sustain ...

TSL GMP is now 230-235 per share

When GMP of TSL per share is 230+ then why GMP of Minimum application is sooo low... ...(500-600)can you please explain the logic behind this....

Yes it went to 190 in morning
Now again reached 210
Current GMPs 210-215 Bhavnagar Rajkot.

Remember huge trades took place at Rs. 190 here. With intense volume.
Now the buyer are buying till Rs. 210

Absolutely wrong EAGLEYE

Now refer SEBI guidelines
Where is says if any company is loss making co. In last three year then such co. Should keep only 10% allocation for retailers as to safeguard them.
Means Teamlease posted loss in one of its year amongst the three then such have to follow such criteria.

Hope you got my answer.
U may refer the same SEBI Rules on Sebi website

u learn something everyday so all loss making should only provide 10% or can also do 25% bcoz from memory coffee day loss making company NH loss in one year offered 25% Arjun ji whats the ruling there

Septa
Good question
Nh Is not a loss making co. Plz check
There are 17 rules in SEBI which if u follow then you may keep allocation as
Qib 50%
Nil 15%
Rii 35%

If above rule not follow then
Qib 75%
Nii 15%
Rii 10%

Now Nh on standalone basis is profit making co.
Where as Coffee day might have fullfilled the conditions so they had allocation as 35% in RII

WHEREAS Teamlease issued capital is very less
So they have to follow guidelines as per SEBI.

U may see the guidelines for allocation if u have mail id then i can share the guidelines for such.

thank u

Thx Arjunbhai ... I am quite new to the IPO world ... and am still learning ...
Thx for your invaluable input

Wow!...
You all of you eagleye, septal, arjunsir really gems of message board.

God bless you.

Wow!...
You all of you eagleye, septal, arjunsir really gems of message board.

God bless you.

Eagleye my age is 23 years.
With experience of 8 years in IPO market.
So just a learner

SEBI in its 145th Board Meeting approved the revised eligibility norms for entities desirous of raising capital through IPOs. In terms of the said decision, in order to access the primary market through an IPO,

(i) an entity should have been profitable for at least 3 out of the preceding
5 years, with a minimal average pre-tax operating profit during the 3
most profitable years of Rs. 15 crores

(ii) any issuer not meeting the aforesaid profitability criteria may be
permitted to tap the public issuance route subject to the following:-
• At least 75% of the issue size shall be mandatorily allotted to QIBs
(Qualified Institutional Buyers), as against the existing 50%
• Out of the remaining 25%, 15% shall be allocated to NIIs (Non-
Institutional Investors) and 10% to RIIs (Retail Individual Investors)

Coffee Day Enterprises met the above criteria of minimal average pre-tax operating profit.

In a book built issue allocation to Retail Individual Investors (RIIs), Non Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) is in the ratio of 35: 15: 50 respectively. In case the book built issues are made pursuant to the requirement of mandatory allocation of 60% to QIBs in terms of Rule 19(2)(b) of SCRR, the respective figures are 30% for RIIs and 10% for NIIs. This is a transitory provision pending harmonization of the QIB allocation in terms of the aforesaid Rule with that specified in the guidelines.

dear eagleye,
do you believe that fundamental is work for IPO listing gain?

The other income mostly (90%) comprises of: FD interest, interest on IT refund & Interest on loans to related parties. Remaining 10% comprises of dividend income, rental income &, gain on sale of investments net of expenses. So, you can simply move this item from ''Revenues'' to "Non-Operating Income'' just below PBT.
There is no need to reduce ''Total expenses'' on pro-rata basis becathere are no material expenses attached with these income(s). For ex: there is no material expense attached to interest on FD. Also, some of the items in ''Other Income'' are already reported net of expenses viz: Gain from sale of investments.

Revenue will be= 2007.07
Op Expenses=1985.87
Non-Operating income=11.39
PBT=2007.07-1985.87=21.20
EBITDA= PBT+ Finance cost + D&A=24.05
Tax (after excluding tax on non-operating profit)=(7.52*21.20)/32.59 less 5.72 (one-time benefit)=0.83
PAT (adjusted)=21.20+0.83=22.03

So, final figures are essentially similar to yours (only PAT differs slightly).But the point is that earnings can be ''managed'' by the companies in a significant way. PAT has come down from 30.8 to 22.03 !

Therefore, I never try to project PAT (earnings) directly ''coz its the yard of all the accounting manipulations in all the remaining items of PnL statement. I sanitize ''Reveneus'' & ''EBITDA'' & then try to project these two for future.

some typo corrections:

..." just above PBT"....

....." yard of all accounting manipulations"....

.." yard of all accounting manipulations"... :)

don''t know why some of the text keeps missing from my messages ...

Promoters are strong in TL: Manish Sabharwal is an MBA from Wharton. He is a member of PM''s Skill Council.