A2Z Maintenance & Engineering Services Ltd IPO (A2Z Maintenance IPO) Detail

December 8, 2010 - December 10, 2010

A2Z Maintenance IPO is a book built issue of Rs 675.00 crores.

A2Z Maintenance IPO bidding started from December 8, 2010 and ended on December 10, 2010. The shares got listed on BSE, NSE on December 23, 2010.

A2Z Maintenance IPO price band is set at ₹400 to ₹410 per share. The minimum lot size for an application is 15 Shares. The minimum amount of investment required by retail investors is ₹6,150.

Bofa Securities India Limited, Axis Capital Limited, ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), SBI Capital Markets Limited and Yes Bank Limited are the book running lead managers of the A2Z Maintenance IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to A2Z Maintenance IPO RHP for detailed information.

A2Z Maintenance IPO Details

IPO Date	December 8, 2010 to December 10, 2010
Listing Date	December 23, 2010
Face Value	₹10 per share
Price Band	₹400 to ₹410 per share
Lot Size	15 Shares
Total Issue Size	16,876,569 shares (aggregating up to ₹675.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	57,301,125
Share holding post issue	74,177,694

A2Z Maintenance IPO Reservation

A2Z Maintenance IPO offers 18,193,253 shares. 7,527,656 (41.38%) to QIB, 3,199,679 (17.59%) to NII, 7,465,918 (41.04%) to RII, 100,000 (0.55%) to employees. 497,727 RIIs will receive minimum 15 shares and (sNII) and (bNII) will receive minimum 495 shares. (in case of oversubscription)

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	-	NA
QIB Shares Offered	7,527,656 (41.38%)	NA
NII (HNI) Shares Offered	3,199,679 (17.59%)
Retail Shares Offered	7,465,918 (41.04%)	497,727
Employee Shares Offered	100,000 (0.55%)	NA
Total Shares Offered	18,193,253 (100%)

A2Z Maintenance IPO Lot Size

Investors can bid for a minimum of 15 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	15	₹6,150
Retail (Max)	32	480	₹196,800
Lot Size Calculator

A2Z Maintenance IPO Promoter Holding

Mr. Amit Mittal is the Promoter of the Company.

Share Holding Pre Issue	55.81%
Share Holding Post Issue

About A2Z Maintenance & Engineering Services Ltd

Incorporated in 2002, A2Z Maintenance & Engineering Services Ltd is an engineering, procurement and construction ("EPC") company in India and providing services to the power transmission and distribution sector. They are diversifying this business to provide EPC services to power generation companies and companies in other sectors, including road and telecommunications.

Company is also involved in other businesses that include the following:

1. Generating power from renewable energy sources (the "Renewable Energy Generation business");
2. Providing municipal solid waste management services (the "MSW business");
3. Providing facility management services (the "FMS business"); and
4. Developing information technology ("IT") solutions for power utilities (the "Power IT Solutions business").

Company Financials

Particulars	For the year/period ended (in Rs. Millions)
	31-Mar-10	31-Mar-09	31-Mar-08	31-Mar-07
Total Income	12,252.96	7,238.80	4,813.47	1,812.87
Profit After Tax (PAT)	985.21	590.53	498.42	111.49

Key Performance Indicator

KPI	Values
RoNW	23.84%

Check A2Z Maintenance IPO Peer Comparison here.

Objects of the Issue (A2Z Maintenance IPO Objectives)

The Object of the issue are to:

1. Investment in three biomass (bagasse)-based power cogeneration projects of 15 MW each in the State of Punjab;
2. Investment in five biomass-based power generation projects of 15 MW each in the State of Rajasthan;
3. Investment in Subsidiaries;
4. Repayment of a loan granted by L&T Infrastructure Finance Company Limited (L&T Infrastructure Finance) to the company;
5. Working capital requirements;
6. General corporate purposes.

A2Z Maintenance IPO Subscription Status (Bidding Detail)

The A2Z Maintenance IPO is subscribed 0.96 times on December 10, 2010 5:00:00 PM. The public issue subscribed 0.33 times in the retail category, 0.68 times in the QIB category, and 3.12 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (times)
QIB	0.68
NII	3.12
Retail	0.33
Employee	0.32
Total	0.96

A2Z Maintenance & Engineering Services Ltd IPO Grading / Rating

CARE Limited has assigned an IPO Grade 4 to A2Z Maintenance & Engineering Services Ltd IPO. This means as per CARE, company has 'Above Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.Click here to download the CARE IPO Grading Document for A2Z Maintenance & Engineering Services Ltd.

A2Z Maintenance & Engineering Services Ltd IPO Tags:

A2Z Maintenance & Engineering Services IPO, A2Z Maintenance IPO, A2Z Maintenance & Engineering Services IPO Bidding, A2Z Maintenance & Engineering IPO Allotment Status, A2Z Maintenance & Engineering Services IPO drhp and A2Z Maintenance & Engineering Services IPO listing.

A2Z Maintenance IPO Prospectus

› A2Z Maintenance IPO DRHP
› A2Z Maintenance IPO RHP
› A2Z Maintenance IPO Application Form Download

A2Z Maintenance IPO Rating

479

3.8

Rating:

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A2Z Maintenance IPO Listing Details

Listing Date	December 23, 2010
BSE Script Code	533292
NSE Symbol	A2ZINFRA
ISIN	INE619I01012
Final Issue Price	₹400 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade

BSE
₹400.00
₹390.00
₹318.65
₹398.90
₹328.90

NSE
₹400.00
₹500.00
₹318.60
₹500.00
₹328.55

Check IPO Performance…

A2Z Maintenance & Engineering Services Ltd Contact Details

A2Z Maintenance & Engineering Services Ltd
O-116, 1st Floor, DLF Shopping Mall,
Arjun Marg DLF Phase-1,
Gurgaon - 122001, Haryana, India
Phone: 91 124 4581 700
Email: complianceofficer@a2zemail.com
Website: http://www.a2zgroup.co.in

A2Z Maintenance IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: a2z.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

A2Z Maintenance IPO - Buy or Not

A2Z Maintenance IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	3	1	2
Members	0	0	0

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A2Z Maintenance IPO Lead Manager(s)

Lead Manager Reports

A2Z Maintenance IPO FAQs

A2Z Maintenance IPO is a main-board IPO of 16,876,569 equity shares of the face value of ₹10 aggregating up to ₹675.00 Crores. The issue is priced at ₹400 to ₹410 per share. The minimum order quantity is 15 Shares.

The IPO opens on December 8, 2010, and closes on December 10, 2010.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The A2Z Maintenance IPO opens on December 8, 2010 and closes on December 10, 2010.

A2Z Maintenance IPO lot size is 15 Shares, and the minimum amount required is ₹6,150.

You can apply in A2Z Maintenance IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for A2Z Maintenance IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the A2Z Maintenance IPO allotment status.

The A2Z Maintenance IPO listing date is on December 23, 2010.

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A2Z Maintenance IPO Message Board

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273 Comments

Stock Discussion

273. IPO/STOCK GURO | Link | Bookmark |January 9, 2011 11:04:00 AM

Junjunwala govt. And SEBI kay sahyog say retailers ko loot lay gaya.

272. IPO/STOCK GURO | Link | Bookmark |January 7, 2011 11:03:46 PM

Jnujunwala nay retailers (bacho) ko junjuna pakda diya hi hilanay kay liya.

271. KK Natarajan | Link | Bookmark |December 27, 2010 8:49:27 PM (500+ Posts)

270, Rakesh Valvod,
There is no meaning in RATING. But there is a lot of meaning in OPERATING!

270. rakesh valvod | Link | Bookmark |December 27, 2010 2:23:26 PM

look icra rating and cmp of A2Z Maint. and Ravikumar. what is the meaning of rating??????!!!!!!!!!!!

269. IPOGARV | Link | Bookmark |December 26, 2010 12:35:50 PM

Nice to read, retail investor has not put money in this IPO. still crying over that RJ has made fool of retail investor. RJ invested in 2006 and reaped benefit in 2010. (making investment working for himself - 5 year faith), is it on cost of retail investor? The issue not fully subscribed and retail portion was least subsribed. Rs 400-410 was steep asking price. so investors did not care Yes few IPO Traders listebed and parked money for 15 days. (whereas stop loss is now available).

Now RJ reinvestment in company. various inferences can be drawn.

a) support price to lure more investors later on, possible?
b) he has tremendous faith in management and prospects of company, so invested again. defintiely 16% (Rs 50 ) is good margin to enter.

c) the avg cost is Negligible, so can play around with profits? has right to do so. we should mind it post IPO being promoter he is in for lock-in period for investments for a period.

Each one of us has to think about our capital, investment position, trading position, wealth, borrowings and the most, our behaviour pattern in the market participation. So RJ is thinking about his capital.

Wishing all the broaders Happy New Year 2011.

regards,

IPOGARV

268. IPO/STOCK GURO | Link | Bookmark |December 25, 2010 5:32:55 PM

Junjunwala nay fool retail investors ko junjuna day diya kalnay kay liya. Pahlay rs. 19 pay buy kiya hua apnay shares rs.400 pay retailers ko sell kiya phir aglay din fool retailers say rs.350 pay buy karliya, agar 1 carors shares ka game junjunwala nay kiya tho retailers ka 50 carors uski poket may chala gaya .

267. Santosh. | Link | Bookmark |December 24, 2010 6:44:50 PM

my tgt of a2zmes hit ...keep away from RAKESH ZUNZUNWALA wala share like a2zmes, delta corp etc dont be greedy...small but secure return is best

266. IPO/STOCK GURO | Link | Bookmark |December 24, 2010 6:32:11 PM

Junjun wala nay sabit kar diya ki govt. And SEBI kay sahyog say retail investor kao kaisay loota jata hi, 400 pay apnay shares ipo may sell karkay 330 pay market say buy, jai ho india.

265. ASHISH KAPADIA | Link | Bookmark |December 24, 2010 3:00:13 PM

SOME CARTOON CHANNEL HAS SHOWN RAKESH ZUNZUNWALA BOUGHT 500000 SHARES OF A TO Z MAINTAINANCE. But they are not showing that Mr zunzunwala had sold those shares in IPO at issue price of around 400. and now he is buying those shares at around 330. This is really annoying and embarassing for retail investor

264. avinash D | Link | Bookmark |December 24, 2010 10:56:14 AM

KKN sir, Thanks for ur reply. I am a small investor. I understood Ravi sir's message about co's weak business model. Also read that they will do rice milling. May be its mistake by every investor....
My another guru warren buffet owns up if he does mistake..... I also did mistake. it is big lesson.

263. KK Natarajan | Link | Bookmark |December 24, 2010 6:00:57 AM (500+ Posts)

avinash D,
Your Guru sold shares to you at 400 and buying it back in the range from 318 to 340. He does it to arrest the free fall in price. Now tell me who is clever, the ones who buys at 400 and sells at 318 or the one who sells at 400 and buys at 318? Your Guru is teaching you a lesson, a costly lesson at that!

262. triple hhh | Link | Bookmark |December 23, 2010 9:26:24 PM

The fair value for this share is Rs 293.

261. avinash D | Link | Bookmark |December 23, 2010 7:07:21 PM

Ravi Sir, Todays buld data shows Rakesh sir and Promoter has bought shares worth of 93cr. Do you think this is good sign.... Will stock bounce back tomorrow....?

260. Ravi, Bangalore | Link | Bookmark |December 23, 2010 6:43:03 PM (300+ Posts)

258. avinash D

The company seems to be poor in collecting dues from its debtors, more that 60% of the revenue is outstanding, that makes me feel the books are made up. Over 90% of the company's revenues come from government authorities and public sector undertakings. Such companies usually have high "debtor days" as government departments and companies take a long time to make payments.

I didn't look at the cash flow statement. Brokerage House reports say it has operated with negative cash-flow for four years. After I looked at the valuations that the company was asking for, I just stopped reading the RHP.

Jhunjhunwala has already made crores of rupees. At least his name guarantees good return to the promoter. Jhunjhunwala will get back his invested amount by selling a few shares in the IPO and thus rest of his shares will now have zero cost. In addition, he has the rest of shares to get him speculative return. He just have to sit and enjoy the game.

As per RHP -

Jhunjhunwala will receive more than Rs 20 crore by selling five lakh shares at the higher end of the price band of Rs 400-410 per share, which was equal to the amount he invested in A2Z Maintenance in 2006. The total valuation of his holding in the company stands at Rs 494.09 crore, which means market cap of company will be more than Rs 3,000 crore.

Rakesh Jhunjhunwala to get Rs 20.5cr via A2Z IPO

http://www.moneycontrol.com/news/ipo-issues-open/rakesh-jhunjhunwala-to-get-rs-205cr-via-a2z-ipo_503796.html

I am not interested to find-out fair value. As NSE web-site is not showing chart, I missed opportunity of going intra-day short! I will relook at this company in month-end.

Please note that I am not questioning Jhunjhunwala's wisdom. What I mean is you should not invest just because Jhunjhunwala is investing. Your tolerance, financial position, goal, investment horizon is different than Jhunjhunwala.

259. Routray | Link | Bookmark |December 23, 2010 6:07:59 PM

THANx KK. Waiting for Sreedhar's reply

258. avinash D | Link | Bookmark |December 23, 2010 6:02:22 PM

Ravi sir, Thank you very much for your reply. I understand your thinking about Rakesh getting shares at very cheap rate. but then promoters alos gets shares at very cheap rate. Company has also increased the revenue many fold from small company in 2006 to such crores of revenue now... There were 5 bankers to the issues, all are very bankers. Are you Questioning Mr. jhunjhunwala Wisdom along with 5 big bankers about IPO price. Remeber this is Mr. Jhunjhunwala's First IPO ?
What is according to you the right price for A2z IPO ?
Sorry if i have missed your earlier blog.... Can u pls guide me technically weather share can fall further??

257. Ravi, Bangalore | Link | Bookmark |December 23, 2010 5:34:56 PM (300+ Posts)

251. Avinash D

This is my reply as it appears you are panic-sticken.

According to RHP: -

Jhunjhunwala got 429,898 in 2006 at 418.70.

Another 45,000 in 2007 at 502.44.

The company gave 11:1 bonus in August 2007 and 3:2 bonus in March 2010.

After the first bonus his number of shares went up by 12 times and after the second bonus his number of shares went up by 2.5 times.

His cost/share came down by 1/30th.

Cost of his 2006 shares = 13.96.

Cost of his 2007 shares = 16.75.

You can also refer my view that I have given at the time of IPO opening wherein I had cautioned investors particularly about Jhunjhunwala's conflict of interest.

When investing, you need to consider as much information as possible to ensure you make the right investment decision. Analysts'recommendation is just one of these sources of information and shoulde therefore not be used solely on its own to decide how you invest. They have often biases because their livelihood very often depends on the companies they are presenting. Hence, always consider why analyst may be talking up or talking down some stocks.

Consider how the analyst has come to their decision (investment rationale) and use what they have done to help you with your own research. Look out for analysts who have ties to the company they are recommending as very often the information they give will turn-out to be inaccurate. They should understand that certain conflicts of interest might exist which may create pressure on a analyst's objectivity and independence.

To conclude, the fact that analysts, or brokerage firm may face a conflict of interest does not necessarily mean that the stock analyst recommendations are flawed or unwise. And yet, don't rely solely on them for your investment decisions. Do your own research, such as reading companies' prospectus / RHP, quarterly and annual reports that are filed with the Exchange etc..........

256. avinash D | Link | Bookmark |December 23, 2010 4:30:40 PM

M&S ... i have seen many presentation of Rakesh.... and He always advice "Not to loose capital" in the stock market.... How come investor loose money in this company....

255. avinash D | Link | Bookmark |December 23, 2010 4:27:08 PM

I watch everybody on the board ....kkN, sridhar etc.... what do u say? Why would Rakesh do this thing with investor....

254. avinash D | Link | Bookmark |December 23, 2010 4:25:51 PM

M&S - Thanks for your reply. I have bought the shares considering the solid waste business which is going to become very big. Why stock got punished today ???.... i had no clue. Do you think it is going to double in 6months time if i hold the shares........