Varun Industries Limited IPO Message Board (Page 34)

RACHANA ,
18 TIMES OVERALL OR IN RETAIL ????

I HAVE APPLIED FOR 4800 SHARES IN 3 APP WHT ARE CHANCE SOF ALLOTMENT .?
HOW MANY TIMES ISSUE HAS BEEN SUB TIL NOW ?

18 TIMESSSSSS ABOUT

I have applied for the Varun Industries IPO shares. I want to know how many members are applied for this shares?

Any idea how much it is oversubscribed?

dear george,

Is it your first ipo application?
how can u do so much big mistak.Now i think if ur form regected then u should try in mundra ipo

varun ipo is closed by 1:00 PM today. Any idea how much was it oversubscribed?

george chacko
You would not get any share.
Your application is most probably rejected.
you have to make the application in lot of 100.
1666 not allowed
this is my view

Hi George,

Max you can apply is 1600. As the market lot is 100, so max is 16 times you can apply. How did you apply for 1666?

Hi
I applied for 1666 shares in Varun Industries. Can any body tell me that how much Iam going to loose/gain

Don't lock your money in this IPO, lot of good IPO's are coming next month Edelweiss Cap on Nov15, Reliance Power on Nov26th, ........etc.

So, decide before you apply.

Hi, anybody has any idea about how many times Varun was over subscribed by now?

very good ipo apply to get gains this will list more that 100/- price

hi,

Any idea how many times does Varun got oversubscribed by nw, where to chk the same, pls guide

Cheers,
Swaroop

Varun Ind :

* Operators are very active in the Varun.
* We can see price manipulation on the listing day.

Varun Industries is entering the capital market on 25th October, 07 with a public issue of 90 lakh equity shares of Rs.10 each at a premium of Rs.50 per share (total issue price Rs.60 per share) for Rs.54 crores.

The company is the largest exporter of stainless steel kitchenware and houseware items and has one of the biggest private sector warehousing facilities in India of 23,658 sq. ft. For FY 07, the total income of the company was at Rs.760.78 crores, PBT of Rs.28.84 crores and PAT of Rs.19.52 crores on equity of Rs.13.11 crores resulting in an EPS of Rs.14.90 . For 4 months ending 31-07-07 total income was Rs.307.15 crores, PBT of Rs.12.19 crores and PAT of Rs.8.06 crores, giving an EPS of Rs.6.15. This means, FY 08 may have an EPS of close to Rs.20.

The book value of the share on 31-07-07 is Rs.83.50, EPS of Rs.14.90 for FY 07, likely EPS of close to Rs.20 for FY 08, and promoters subscribing to 24.30 lakh equity shares at the same price of Rs.60 per share. This has been a rare instance amongst the recent issues, where promoters are bringing in 27% of fund requirements at the same rate, as is being offered to the public.
The worrying factor for the company is huge working capital requirement, high debt equity ratio and high raw-material cost to the extent of 90%. As at 31-07-07, the total borrowing of the company is Rs.375 crores which are largely backed by debtors of Rs.270 crores and inventory of Rs.75 crores. The company has debtor cycle of close to 90 days and hence every increase in topline has been putting pressure on working capital. Also, due to low conversion/trading margin, the company is in a catch 22 situation.

The present issue is to mobilize Rs.40.74 crores for working capital margin and Rs.10 crores for brand building and advertisement. This would ease working capital pressure as also shall improve margins. Infact, the company faces lot of competition from unorganized sector, which is a big threat. To counteract this, the company is also diversifying into iron ore and mining as also oil and gas drilling. Windmill power generation will also help, as the company plans to use power generated, for its stainless steel rolling mill at Jodhpur.

Though the company operates in a thin margin, yet the issue is at a 30% discount to its present book-value as also with respect to promoters post issue stake of 60%. Considering these facts, issue is fairly valued and hence investment can be made, if you have a medium term investment horizon.
VIEWS-S.P .TULSIAN

I have applied for this IPO...

tommarrow applay 500 shares but how many allot wait and see

Nirav see my comments at 91 for your question

what is the lot size?????????????