Udayshivakumar Infra Limited IPO Message Board (Page 39)

1.2 crore shares for retail quota ~28037 retail forms. I thought it would be fully subscribed till now but it isn't. Market sentiments is the reason i beleive. 22 is Fed decision, 23 is last date for the ipo.

Admin@Chittorgarh Team,
Pl upload Capital Market Review about this Company.

The 60% retail quota and T-Group listing aside, I believe the company is a good bet with decent valuations and asking price. The starting GMP also seems strong. Yet, it may surprise on listing (downward) and I'm not sure about that in this volatile market. Apply with caution if QIB crosses 30X. I'll apply on 3rd day. Thanks.

Applied 2 retail lots via UPI. Thanks.

0/2 as expected. All the best to allottees.

USK
*Subject to*

Smaal hni form 60000 st
Big hni form 70000 st

*Premium* 12

Key Take Aways:

IPO: USK INFRA LTD

1. Order books stands at 1290 Cr. Highest Growth in order book in last 6M, as company now have moved to more road Project rather than Civil work.
2. Considered Infra. company best Debt Equity Ratios Stand at 0.50 x
3. All Money raised is Fresh. No OFS, which gives investors a trust.
4. Coming at Good Valuation PE around 10X makes it par with infra Company, Futher Money raised will help expansion
5. Nav post issue is at 25 Rs. Which 1.4 X it's Book
6. Promoter Cost is 10 Rs .
7. Solid Revenue Forecast with Improved margins.
8. Seems good connection with Govt that will award some Future Project.
9. Good ROE at 17-18%
10. Great Management and Good experience of Promoter. In past they have completed some good Project. Diversity in business
11. Good Equipment base around 111 Equipment are Purchased not on lease
12. Boost from Govt scheme of Smart City etc
13. They company started from civil words flyover etc now have move to Road projects. That's why Toll revenues have started coming form last 6 M. Company are in line with many road Projects therefore good revenue generation in upcoming years form EPC road Projects ( Refer Revenue Break up Page 260). Out of 100 Cr Revenue this 6M 7 cr have derived as roll fix income which will grow substantially in future. Aggreement with Nhai For Toll of Hagagudi and bankapur in 2022. Further more road from NHAI will toll income .

Risks
1. Concentration in One state
2. Dependency on Key man
3. IT Raids
4. Gst Recovery stands 42 cr

No impact

Very good analysis

This ipo will be listing in atleast 10 percent loss mark my words if not I'll leave this forum forever

@ Baron bhai ,

Koi share ko leke itna tasalli mat rakha koro .Ipo ka hisab kitab baithana itna asan nehi.
Naya naya aye ho, Agar itni se chhota karan se forum chhodna banta , to kabhi bhi chhodna parega. Lekin hamlog chahete he , aap bane rahe. Hamlog ko alert karte rahe.
Thank you

@Baron laya laya bapu laya... mota bhai gum loss me khule uska nahi lekin nahi lagne ka gum he... pahele lagna hi nahi... loss ka to bad me bhi dekh lege..🥲

GMP 12.5

First dcx had bumper.listing but now down more than 50%
This will be down 20 % down on listing guaranteed
LM ka sabh khel hai

Ye main board hai SME nahi yaha LM se utna fark nahi padta

GMP update

@live Rajkot
11-13
ST10

Ahmedabad ma koe ipo mate loan ????

Morning bhav
USK infrastructure
11.00/12.00
Subject to 9₹ today apply only.

@admin
Green to listing today
Yellow to live to apply
Blue to not listed yet.
I feel this colour code is best
Again green to listing today is शुभ शगुन

Company Into infra space
Gmp is good
Why to avoid
Those take risk open apply
Those don't want risk Sell n apply
My pilot earn...
Fix 10+ 4400 Ahmedabad

Can someone send the anchor book?

Idfc first is good for ipo .only concern is one has to अपयश physically for huf otherwise very good for applying and unblocking .

If market remains positive then in next financial year approaches 100 mainline IPO are in queue . Waiting for right signal by lead managers .

Next ipo mankind ..tata .be ready
After usk . Mankind ipo season backkk

Gmp
12 Prem
Sub to
Retail 3000
Sbhi 48000
B hni 55000
Fix
Retail 300
Bhn 4500

*UdayShivkumar Infra LTD IPO*

*Issue Dates - 20th March to 23rd March 2022*
*Issue Price - 35 per share*
*Issue Size - 66 cr*
*Retail Size - 40 cr*
*Market lot - 428 share*
*Listing Date - April 3, 2023*

Company was originally incorporated as *M/S UdayShivkumar* at Davangera, Karnataka on August 20, 2002 & later name was changed to Pvt Ltd as *UdayShivkumar Infra Pvt Ltd* on September 23, 2019.

IPO of fresh issue of 66 cr at a price of 35 per share & issue will constitute 34% of post issue paid up capital.

*Equity share outstanding after the offer = 5.53 cr*.

It is an EPC contractor in the state of Karnataka.

Objects of the issue =
Funding working capital requirements = 45 cr.

*Order book of 1290 cr as of 31st December 2022 of which 25% consists of NHAI orders.*

It has IT demand of more than 14 cr for various years of Tax evasion and GST etc.
High Trade receivable due to Government cycle is always a concern.

Average cost of Acquisition =
UdayShivkumar = 10 per share.

*Financials*

*Revenue from operations stood at Average 200 cr for last 3 years and 107 cr for 6MFY23 with EBITDA margin ranging from 13% to 16% and PAT has increased from 10 cr in FY20 to 12 cr in FY22 and stood at 10 cr for 6MFY23 with PAT margin increasing from 6% to 9% and at a price of 35 per share it is asking for 10 times PE multiple FY23 with 20 cr PAT expectations on 1290 cr order book 250 cr sales for FY23 with debt of 50 cr and Networth of 100 cr FY23 and debt to equity of 0.5 times and P/B of 2 times with ROE of 20% and ROCE of 20% with EV of 240 cr and EV/sales of 1 times and EV/EBITDA of 6.5--7 times FY23.*

Net cash flow from operating activities =
6MFY23 = 4 cr, FY22 = 32 cr, FY21 = 17 cr, FY20 = 21.5 cr.

*Peers*

*PNC Infra*
*With Sales of 7800 cr FY23 expected it is trading at EV/sales of 1.56 times FY23 and EV/EBITDA of 8 times with EBITDA margin of 23% and PAT margin of 9%, with PE multiple of 11 times, with debt of 4800 cr and debt to equity of 1.2 times with ROE of 18%*, ROCE of 16%, EV of 12,200 cr with EV/EBITDA of 8 times with P/EV multiple of 18 times FY23, PB of 3 times FY23.

*HG infra* - Trading at PE Multiple of *12 times FY23 with Sales of 4200 cr and EV of 6400 cr with EV/sales of 1.5 times FY23 and EV/EBITDA of 8 times* with EBITDA of 800 cr with EBITDA margin of 20% and PAT margin of 10--11%, with Networth of 1750cr and P/B of 4 times, and ROE of 26% and ROCE of 23% and debt of 1450 cr with debt to equity of 0.9 times.

*CONCLUSION*
*APPLY for Listing Gain* ( small issue size and large order book and not expensive valuations)
At *1290 cr order book* with 20 cr+ PAT and Margin can increase going forward with Increasing in Earning at a faster pace due to low base.

GMP 11 Buyer @ 2PM # 19 March.

Heared on street usk premium up zoom zoom

Which banks are best to apply ipo for minor and huf? Previously I was using yes bank now trouble with yes bank

Using HDFC Bank and no problem.

But hdfc bank allow to apply ipo whenever your demat account is with hdfc securities, I have demate account with edelweiss

if anyone using IDFC BANK for ipo

please share ur experience ...

Which bank allows online IPOs for HUF?

Huf , go for au small or hdfc bank.

Idfc very arrogant bank, their support is stubborn, This is My personal experience other view may different.