Uniparts India Limited IPO Message Board (Page 33)

Dharmaj looks stable IPO to apply after looking at the volatility of GMP in Uniparts

@ B M SURANA

ANCHOR LIST ?

anchor allocation not out yet

Gmp 36

Gmp 36

46 seller

Gayi bhains pani me.

Asking valuation is reasonable on the back of improved financials in FY22 & Q1 of FY23. Debt on the books looks reasonable, sizeable Inventory & receivables. Dividend paying company & should be expected post-listing too. Overall, looks like good offering at reasonable valuation but I am concerned about growth. I MAY SKIP THIS ISSUE only due to growth concerns.

@Ou Ai
Yes, see 2014 financials. So, growth is really negligible. I feel this is more suitable for Dividend Investor. But never consider expensive because of only OFS issue. A business having 70% un-utilized capacity doing OFS is better than a company having 90% utilization & doing a IPO for capex of another 20-30% capacity. Then comes companies that do rapid turnovers & can do capex from internal accruals. So, you need to look at the whole picture.

@Focus SME
Am conversant this business and sector and hence offered comments with facts in another thread below at @85 now. Hope you read it.

Bhai log
Ye GMP to 160 se 52 aa gayi 3 days me.
Listing tak negative to nahi ho jayegi? Full OFS ke karan.

uni adhimulya baasath

Waiting for anchor list,seeing it will decide where to go FF either dharmraj or uniparts.

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GIG. I will apply here, Agar listing gain mil gya to achha hai nahi to kuchh din hold karenge.

Must apply..

Jis tarah se gmp gir raha h lagata h gmp NIL ho jayega...

@Eagleye mam,
Your take on this IPO

Latest GMP 78/83

Experts pls suggest
Will gmp slide further?

@B M SURANA
Any application RATE OF BHNI

@PLAZA. Today Application rates are down due to fall in GMP. Hardly Application rate nearby 5500. If you sold All 10 application in grey you earn 55000. If you Allotted 2 BHNI then your profit is equal or smaller less from grey earning. So IMO Application sold in grey is better than keep open. This is only for this IPO. IN other IPO opinion can change. 🙏

@jaimatadi
Thanks for Reply
Yes strategy should be on one to one basis .
Will sell only if it crosses 7000 otherwise keep open.

Seems reasonably valued with something left on table for investors. Huge pool of peers though

Gmp 75

88 seller

118/122

Thanks..

95 seller now

Uniparts established in 1994 is just a spare parts supplier to off highway equipment like dump trucks, excavators, motor graders and so on. It is also a manufacturer of 3-point linkages, nothing but simple link to connect tractor with a trailer behind. Thye also make PTO, typically known as Power take off attachments for tractors. All these are quite low-end products and Uniparts should be qualified as component manufacturer of spare parts for valuation. Barring some tractor parts which are OEM, rest falls in spares to aftermarket. While PAT margins of this industry are in range of 5 to 6 % with difficulty, surge in margins in 2021-22 & June 2022 results to around15% seems very high before filing DHRP and IPO.

Overseas operations of this company are mere warehouses and nothing but part of logistics chain. One fails to understand the reason of having revenue & profit statements treating each warehouse as step down company in annual reports instead of indicating the goods as part of finished inventory.

Company website offers general information, but devoid of important information on product details! Competencies menu provides merely types of basic operation processes that are generic nature for any manufacturing setup, whereas actual products details do not open at all!

All in all, simple components used as spares and partly OEM are show cased as high tech products with overseas operations and shares offered at premium not in line with some of the shares in growing auto components businesses belonging to Lumax, TVS group, Gaberial, LGB, Minda, SSWL, Talbros , Craftsman ... available in secondary market.

At best a listing gain candidate depending on high oversubscription, else there are many reasonably valued firms in auto component space. One may run risk of share price settling lower few days post listing.

Weigh your risk appetite and subscribe. Trust this helps. Happy INvesting!

@Liger
I would like to add that big boys and media have defamed retailers when they book profit, they call it weak hands exiting, if you have checked last 10 SMEs and most recently Phantom and Vital then you must have seen (in bulk/block deals data) that big names have booked profit at first opportunity.

If they (who have piles of cash) are encashing euphoria and exiting and making money then what's wrong with people with limited funds (be it retailers or self funded Shni/Bhni). Why shouldn't self funded retailers etc do the same and make money and apply next ipo with that money.

@Thoth let them speak whatever they want to.
Do book profit when retailers want to.
Retailers are Master of there own.
So don't worry and keep booking profit.