28.1. Mr. Singh| Link| Bookmark|
June 17, 2024 12:55:10 PM
IPO Mentor (900+ Posts, 600+ Likes)
It seems risky. If you consider performance of listed company from same group, they are making zero profit. Probably they are buying material from united cotfab at higher price to show higher profit from this. After IPO thing will normalize. That may make united cotfab lower its margin and united polyfab increase their margin from zero to some number.
However I don't know what operator can do at listing. I am most probably avoiding it as listing gain may not be high also listing loss can not be ruled out.
28.2. Mr. Singh| Link| Bookmark|
June 17, 2024 12:55:48 PM
IPO Mentor (900+ Posts, 600+ Likes)
Someone who can take risk may apply for easier allottment.
What is the Company's financial performance like in terms of revenue, profitability, and growth rate?
26. Iranna| Link| Bookmark|
June 14, 2024 8:37:24 AM
Top Contributor (300+ Posts, 200+ Likes)
Looking at the promoter being fined by SEBI in March 2024 for artificially inflating the price of his other company - it would be better for retail investors to stay out of this IPO for their own safety.
@svh At the time of sona machinery market was really bad so, hem can be given benifit of doubt. But in case of 3C IT market was good still shreni was not even able to list at par.
To answer the question regarding terminal, I use web platforms of upstox, zerodha & prostocks.
24.6. svh| Link| Bookmark|
June 16, 2024 1:40:06 PM
IPO Guru (2600+ Posts, 3700+ Likes)
@GrayIsTheNewBlack Sir , any discount broker providing ODIN or similar type terminal free of cost except angel ?
🙏👍
24.7. Aaashish| Link| Bookmark|
June 19, 2024 1:54:22 PM
Top Contributor (200+ Posts, 100+ Likes)
@svh - Sorry Sir, I'm not aware of any discount broker providing free terminal facility currently. I used Dartstox terminal in the past (Upstox supported it, later they stopped), now I only use web-based/mobile platforms of Zerodha, Upstox and Prostocks. Maybe you can create a new post with your query, so that if any other member is aware they can also share.
23. PLAZA| Link| Bookmark|
June 13, 2024 9:01:23 PM
IPO Guru (2400+ Posts, 1300+ Likes)
@RPSM What's your call on wsol as u hv explained results very well . Give your view....
No News. This usually happens, a recent listed stock give upside run, when new ipo comes with same LM.
Seen it many times, so i bought it today. May give run up, till this issue close.
21. YBPK| Link| Bookmark|
June 13, 2024 3:06:14 PM
Top Contributor (200+ Posts, 700 Likes)
Dependable LM+MM This unit is bascially a combing, carding spinning unit manufacturing open end yarn which is then used by weavers to make grey / dyed fabric Group companies like Vinod Spinners, Vinod Cotfab and United Polyfab Pvt Ltd are in the same line of business (yarn manufacturing) which could lead to conflict of interest. Textile process is combing/carding --> spinning --> weaving --> dyeing and finishing. Overall the group seems to have raw material to finished fabric manufacturing processes under its umbrella but different companies for each process. Side effect of such business model is there will be large number of related party transactions, both purchases and sales, among group companies High value of related party transactions also makes it easy to manipulate and shift profit from 1 legal entity to another In 23-24, 56% of finished goods sales were to related parties while 58% of purchases were from related parties FY23-24 was the first full year of operation so YoY comparison of revenue & expenses is not possible 23-24 cash flow is decent, largely aided by stretched creditors payments. This appears unsustainable as evidenced by objective of IPO - finance working capital i.e. make creditors payments. Material cost is 83.5% of sales which makes it a high volume low margin business and slight movement in material cost can have high impact on profitability Despite high material cost, company has shown good profitability largely aided by increase in inventory. Without inventory increase, PBT margin comes at 3.7% leaving very limited operating flexibility Capacity utilisation for 23-24 was 81.5%. Assuming same product mix, same pricing (RM & FG) and 95% capacity utilisation for 24-25, estimated turnover comes to Rs 135 cr. Company is targetting Rs 150 cr turnover for 24-25, calculated from working capital estimates. This implies that either company is expecting a better product mix, higher selling prices etc. in 24-25. Whether this materialises or not is to be seen. Company has 118 employees as on 31-Mar-24. The CFO of the company is a textile engineer who was earlier head of spinning department. His competence in financial matters is debatable, most likely he will be a rubber stamp with the promoter actively managing financial matters. The issue proceeds will be used for financing working capital needs and general corporate purpose. Company has applied for solar PV plant and has already spent Rs 2.3 cr for equipment. This should help in controlling power costs In view of high % of related party transactions, receivables ageing makes no sense Company has imported machines under EPCG scheme and thus has export obligation of $ 5.5 millon (Rs 46 cr approx.) Given that company has no export track record, remains to be seen how this export obligation is fulfilled Out of total assets of Rs 81 cr (non current + current) promoters have contributed Rs 24 cr ( Rs 12 cr capital and Rs 12 cr unsecured loans) whereas the rest is funded through debt Unsecured loans from promoters have weighted average interest rate of 1.5%, as on 31-Mar-24 Fixed price issue, without QIB or anchor investors, likely to see selling pressure in initial days of listing As pointed out by other members, the promoters & group company have been penalized by SEBI for manipulating share price. Flip side is promoters are well experienced/connected about managing share price.
21.1. MuStrFc| Link| Bookmark|
June 13, 2024 7:05:05 PM
IPO Guru (2900+ Posts, 2300+ Likes)
Thanks for the information.
20. SSingh| Link| Bookmark|
June 13, 2024 3:50:17 PM
IPO Guru (1400+ Posts, 800+ Likes)
All the current and upcoming issues seems golmaal types. Better to be a little more attentive!!
Here one more EnNutrica (Dindigul Farm) SME IPO Details 20 – 24 June 2024
18. Safe Bet| Link| Bookmark|
June 13, 2024 2:27:52 PM
Top Contributor (500+ Posts, 100+ Likes)
Surprised DD ji has not mentioned about the SEBI fine incident related to the promoters w.r.t another listed company. Any online source for this information.?
17. Palka| Link| Bookmark|
June 13, 2024 10:49:57 AM
IPO Mentor (1000+ Posts, 200+ Likes)
Fix rate application 900/- ... Issue is very weak ,, Thats why offering fix rate .... This is my view point only
They will give you fix amount ie 900/- on application. Application should be valid and profit and loss will be borne by the broker. Income-tax and brokerage if any , to be borne by the applicant. Their purpose only to increase the subscription to attract innocent public... Thanks
17.3. CJ ROCKS| Link| Bookmark|
June 13, 2024 12:21:02 PM
IPO Mentor (800+ Posts, 500+ Likes)
@Palka Ji yes👍 after many months we are seeing Kostak rate in SME IPO .Yes ur point is valid. 👍 @Learning IPO Market Fix rate application means you can sell your application to fix rate in grey market (Here fix rate is 900 per application) . Your application is bought at 900 rs. Now whether you may get allotment or not you will get 900 rs. per application.
GPES me to subscription isse bahut jayda hone wale h to allotment k chances isme jyada honge 20-25% GMP lena sahi rhega ... discount listing k bhi koi chances bn skte h kya isme
Total fraud with no justification of Rs 70. Promoter have invested at Rs 10 but asking public for 70 with a running business for just 6 months (that to with transactions with group companies). Promoter recently fined by SEBI for stock manipulation.
The company is a total fraud. The promoter has been fined by SEBI for stock manipulation of his another company in March 2024. The promoter have recently subscribed to shares at 70 but were alloted bonus shares 2 days later to bring the effective price to 10. There is no jistification of premium charged to retail investor and is pure fraud with nothing to back it.