FAIR VALUE CAN BE DIFFERENT AS PER DIFFERENT METHOD NOTHING IS FIXED
1496.1. Septa| Link| Bookmark|
May 8, 2016 12:09:49 AM
(4000+ Posts, 4600+ Likes)
SONMAYA do not worry..... MEHUL IS JUST GOOD KID who is hurry i just like pulling his leg........ so do not worry SONMAYA and thank u for ur advice.... I am here in the forum to learn and share my knowledge. So all can benefited.....
1496.2. SONMAYA| Link| Bookmark|
May 8, 2016 12:45:43 AM
IPO Guru (1300+ Posts, 500+ Likes)
Dear septa,that''s really kind of u and yr greatness...carry on guy...god bless u & Dory...
dear everyone, amount has deducted from my account i.e. rs 14718/- but i have not been allotted any share. my application no. is 27698482. kindly help.
SEPTA SIR IN C.A NO SUBJECT IS ON FINDING FAIR VALUE OF SHARES SO I AM NOT EXPERT IN IT I CAN DO AUDIT ONLY I AM ALSO LEARNING THIS FAIR VALUE AND TEACH OTHERS LIKE EAGLEYE HAHA
DORY why u think PE OF 10 is fair when bank rate is only 8 and industry PE is 16. Also from where u got NP margin is 10%. CA sahib put more effect in reading the balance sheet.
Stop GIVING BS info. Np margin into EPS of 30 equal Rs300 what nonsense is this.
I have not learnt anything like this when I did my CA studies.
How can u multiple percentage figure with real number. For argument sake even if I multiple number with % the 30 I will get Rs3 not Rs300
Dory one simple suggestion just ask do throw GArbage u will only get garbage back.
BTW NP margin is 15% If you had done ur articalship under me u would get big kick on ur backside.
SONMAYA look at the stupid question and assumption he puts being CA himself. BTW I do not kicking ones backside is more insulting or DORY ( MEHUL) CA SAHIB .
IMO he need kicking from all side making such stupid statement
1490.7. SONMAYA| Link| Bookmark|
May 7, 2016 6:23:12 PM
IPO Guru (1300+ Posts, 500+ Likes)
Dear septa.. when u wrote yr qualification . As CA....mehta describe himself as CA...to impress u..and that time he ask for yr email..id....I Doubt. That he is CA ..by looking at his behavior.. here
I got allotment for the applied one lot only.(33 Shares). in NRI Category, UJJIVAN was not in NRI, hence applied in my wife name 3 Lot, Zero Allotment, Can anyone have allotment Ratio of Ujjivan,
Dear septaji, What to do on both ipo listing? Should we buy thyrocare if it lists at 750? Or it will godown after huge listing. Same question for Ujjivan listing day.
I have not got allotment of Thyrocare, I want to know about rules of trading on listing day, whether intraday trading allowed on first day or not? Thanks in advance
Mahanagar Gas Ipo: Total 820000 residential, 2600 small commercial and 55 industrial customers. CNG fuel stations in Navi Mumbai etc.
Gail and British Gas each selling 25 percent stack. Each have 49.75 stack in Mahanagar Gas.
Total value of company 4800 crore 25 percent sale means 1200 crore. Total size of ipo around 1200 crore.
Total shares for sale 2.46 crore. Revenue 2095, 1885 crore for 2015, 2014. Net Profit 301, 297 crore for 2015, 2014. EPS for both years Rs. 30.
Comparison with peers: Many analysts compare with IGL. IGL is one of the peer but not 100 percent. IGL is more in vehicle fuel - fuel stations. Though Mahanagar is in domestic LPG supply to residential customers. I think best peer is Gujarst Gas. Some other peers are GSPL, Adani Enter etc.
I compared peers are trading at P/E of 14 to 20.
If Mahanagar comes with Rs. 485 , then it is P/E of 16. This price is fair enough.
Though it is a basic utility company. We never see tremendous increase in customers, revenue and profit in utility company because of government regulations etc. We can see steady limited growth only. Medium to long term investors will get more benefits. Chances of loss is very rare. Investors will not get healthy returns in short term.
This information is from DHRP ,filed by company to SEBI in mid of November last year. All calculations are matching. Gail and British Gas selling 25 percent stake. Each have 49.75 percent stake.
Total value of company is 4800 crore. Total size of Ipo is around 1200 crore as per DHRP and news from money control, economic times, business standard etc. So both Gail and British Gas selling one forth of their stake. This news looks true.
Mahangar Gas'' (MGL) initial public offering (IPO) will be announced next week. Both GAIL and British Gas Asia (BG) hold 49.75 percent each in Mahanagar Gas. It is going to be an offer for sale, where both the companies will sell 12.5 percent each and raise close to Rs 2500 crore. They are looking at a valuation of around Rs 4800 crore for MGL. The company had filed its draft red herring prospectus (DRHP) with Sebi in November seeking permission to launch the IPO. It obtained clearances from the regulator on January 15 as per the latest update. Mahanagar Gas'' initial share would be around 24,694,500 equity shares. Bankers for the IPO include Kotak and Citigroup. - - - - - - Extract of moneycontrol report It mentions both are selling 12.5% each to raise close to 2500 crs, so if total 25% is 2500 crs, then how come Co''s MCAP is mentioned as 4800crs?
1479.8. Eagleye| Link| Bookmark|
May 7, 2016 5:45:13 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Mahanagar Gas to list @625 (+/- 5)
1479.9. Eagleye| Link| Bookmark|
May 7, 2016 5:50:42 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Mahanager Gas Limited:
100% OFS of 24,694,500 Equity Shares @485 = Rs.1,198Crs.
The Offer: (i) OFS By GAIL 12,347,250 (i) OFS By BGAPH 12,347,250 Total OFS 24,694,500
Current Shareholders: GAIL (India) Ltd 44,449,960 45.00% BG Asia Pacific Holdings (P) Ltd 44,449,960 45.00% Govt. of Maharashtra 9,877,778 10.00% Misc 8 Individuals 80 0.00% Total 98,777,778 100.00%
So EE, if they are raising 1198crs@ 25% stake sale it is clear (valuation of 4800crs) But moneycontrol says raising 2500 crs@ 25%stake sale, that was the confusion.
Gail hold 49.75 % and bg hold 49.75%and rwst .50%govt of maharashtra hold .
1479.14. Eagleye| Link| Bookmark|
May 8, 2016 1:41:37 PM
IPO Guru (6600+ Posts, 21900+ Likes)
DIPSA ... you have not considered the CCD that will be converted prior to filing of RHP ...
1479.15. Eagleye| Link| Bookmark|
May 8, 2016 1:44:43 PM
IPO Guru (6600+ Posts, 21900+ Likes)
Uchitbhai,
MGL''s 75% business is CNG - vehicles....and 25% is PNG - domestic gas ...
Therefore your point that "Many analysts compare MGL with IGL. IGL is one of the peer but not entirely. IGL is more in vehicle fuel - fuel stations. but MGL is in domestic LPG supply to residential customer. Best peer for MGL is Gujarat Gas."
Does it still hold true ??
I infer this from the DRHP, which says ...
"As at June 30, 2015, we supplied CNG to over 0.43 million vehicles through our network of 180 CNG filling stations, and provided PNG connection to approximately 0.82 million domestic households, over 2,600 commercial and 55 industrial consumers in Mumbai and its Adjoining Areas. For Fiscal 2015, our CNG and PNG businesses accounted for 74.09% and 25.91%, respectively, of the total volume of natural gas sold, and 65.10% and 34.90%, respectively, of our total gas sales revenue. For the three months ended June 30, 2015, our CNG and PNG businesses accounted for 73.91% and 26.09%, respectively, of the total volume of natural gas sold, and 70.71% and 29.29%, respectively, of our total gas sales revenue."
Thanks Eagleye. It is my mistake. I didn''t go through the all pages of DHRP. Now I have more concern about the growth of MGL. At present it''s 75 percent revenue comes from CNG and 25 from PNG. Day by day except Delhi -NCR ,sale of CNG vehicle (small vehicles) is decreasing because petrol prices is not high compared to CNG. At present IGL, Adani enter. enjoying good profit because of GAS prices is very low. As soon as it bounced back it will effect their balance sheet. I need to study more about future plan of MGL. If company is commited to increase PNG business then no problem. It''s very costly to increase PNG business because of infrastructure cost of pipeline etc.
Well I am sure about whether the solution for unblocking is relevant to all or not, but I will share my experience in case its helpful.
I have my DEMAT and Trading A/c with HDFC Securities. Up till today morning my HDFC Bank savings account was showing the said amount as blocked. Just like everyone I was perplexed to see why is this happening when I have not been allotted any shares. I logged into my HDFC Securities account and saw the funds being blocked my them and not by the exchange/registrar. I requested for release of the funds and the same was done immediately and now my funds are free.
This sought of a thing happened for the first time. In earlier cases where no allotment was made, the funds got released automatically without any request.
Well I am not sure whether this will be the case with everyone, but it might help some of you.