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Manpasand Beverages IPO is a book built issue of Rs 400.00 crores.
Manpasand Beverages IPO bidding started from June 24, 2015 and ended on June 26, 2015. The shares got listed on BSE, NSE on July 9, 2015.
Manpasand Beverages IPO price band is set at ₹290 to ₹320 per share. The minimum lot size for an application is 45 Shares. The minimum amount of investment required by retail investors is ₹14,400.
ICICI Securities Limited, Iifl Securities Ltd and Kotak Mahindra Capital Company Limited are the book running lead managers of the Manpasand Beverages IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Manpasand Beverages IPO DRHP for detailed information.
| IPO Date | June 24, 2015 to June 26, 2015 |
| Listing Date | July 9, 2015 |
| Face Value | ₹10 per share |
| Price Band | ₹290 to ₹320 per share |
| Lot Size | 45 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 37,554,000 |
| Share holding post issue | 50,054,000 |
Manpasand Beverages IPO offers 7,586,207 shares. 4,137,931 (54.55%) to QIB, 2,068,966 (27.27%) to NII, 1,379,310 (18.18%) to RII. 30,651 RIIs will receive minimum 45 shares and (sNII) and (bNII) will receive minimum 630 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 4,137,931 (54.55%) | NA |
| NII (HNI) Shares Offered | 2,068,966 (27.27%) | |
| Retail Shares Offered | 1,379,310 (18.18%) | 30,651 |
| Total Shares Offered | 7,586,207 (100%) |
Investors can bid for a minimum of 45 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 | 45 | ₹14,400 |
| Retail (Max) | 13 | 585 | ₹187,200 |
| Lot Size Calculator | |||
Mr. Dhirendra Singh is the individual Promoter of the Company.
| Share Holding Pre Issue | 67.21% |
| Share Holding Post Issue |
Incorporated in 1997, Manpasand Beverages Ltd is a Gujrat based fruit drink manufacturing company primary focus on mango fruit, which is the leading flavor for juice drinks in India.
Company's mango based fruit drink, 'Mango Sip', is their flagship brand, which is focused towards customers based in semi urban and rural markets. They have also launched two new brands, 'Fruits Up' and 'Manpasand ORS'. Under the 'Fruits Up' brand, they offer fruit drinks and carbonated fruit drinks in different flavors like mango, apple, guava, litchi, orange and mixed fruit flavors, and under the 'Manpasand ORS' brand, they offer fruit drinks with energy replenishing qualities with a primary focus on North East India available in apple and orange flavors.
They have also commenced marketing in July 2014 the 'Pure Sip' brand of bottled water. Processed at a third party facility, they currently selectively distribute free bottles of 'Pure Sip' along with 'Mango Sip'. Company's manufacturing facilities located at Manjusar industrial estate of Gujarat Industrial Development Corporation, Vadodara, Gujarat ("Vadodara 1 Facility"), Karkhiyaon, Pindra estate of Uttar Pradesh State Industrial Development Corporation, Varanasi, Uttar Pradesh ("Varanasi Facility") and new facility located at Manjusar village, Savli, Vadodara, Gujarat ("Vadodara 2 Facility"), where they commenced commercial production from April 2015.
Manpasand Beverages have a wide distribution network that as on March 31, 2015, includes 73 consignee agents and 654 distributors spread across 24 states in India to whom they sell directly. They also sell directly to Indian Railway Catering and Tourism Organization ("IRCTC") approved vendors.
| Particulars | For the year/period ended (in Rs. Million) | |||
| 31-Jul-14 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Income | 1,461.39 | 2,943.58 | 2,405.63 | 861.36 |
| Profit After Tax (PAT) | 150.79 | 205.00 | 223.71 | 60.95 |
| KPI | Values |
|---|---|
| RoNW | 21.73% |
The object of the issue are to:
1. Setting-up of a new manufacturing facility in the state of Haryana/Punjab;
2. Modernization of existing manufacturing facilities i.e. Vadodara 1 Facility and Varanasi Facility;
3. Setting-up of a new corporate office at Vadodara;
4. Repayment/prepayment of certain borrowings availed by their Company; and
5. General corporate purposes.
[Dilip Davda]
However, if we annualized these earnings and attribute to its post IPO equity then asking price is at a P/E of 85 and is at a P/BV of 6 plus making it aggressively priced offer. Although it has no listed peers and is the first to go for listing with this kind of business module, it might attract fancy, but based on its pricing, it appears to be “High Risk/Low return” bet. Management has claimed that there are very few organized players in this segment that is growing at rate of 20% plus annually and MBL has a minor market share hence it hopes for bright prospects going forward.
This IPO’s BRLMs’ mandates have mixed trends on performance post listing.
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Author has no plans to invest in this offer.
(Email: dilip_davda@rediffmail.com)
Read detail review...
The Manpasand Beverages IPO is subscribed 1.40 times on June 26, 2015 7:50:00 PM. The public issue subscribed 1.16 times in the retail category, 1.98 times in the QIB category, and 0.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.98 |
| NII | 0.38 |
| Retail | 1.16 |
| Total | 1.40 |
| Listing Date | July 9, 2015 |
| BSE Script Code | 539207 |
| NSE Symbol | MANPASAND |
| ISIN | INE122R01018 |
| Final Issue Price | ₹320 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹320.00 |
| ₹291.00 |
| ₹286.00 |
| ₹341.90 |
| ₹326.85 |
| NSE |
|---|
| ₹320.00 |
| ₹300.00 |
| ₹285.70 |
| ₹342.60 |
| ₹327.75 |
Manpasand Beverages Ltd
E-62 Manjusar GIDC,
Savli Road,
Vadodara - 391775, Gujarat
Phone: +91-2667-264663/264733
Email: complianceofficer@manpasand.co.in
Website: http://www.manpasand.co.in
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: manpasand.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Manpasand Beverages IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹400.00 Crores. The issue is priced at ₹290 to ₹320 per share. The minimum order quantity is 45 Shares.
The IPO opens on June 24, 2015, and closes on June 26, 2015.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Manpasand Beverages IPO opens on June 24, 2015 and closes on June 26, 2015.
Manpasand Beverages IPO lot size is 45 Shares, and the minimum amount required is ₹14,400.
You can apply in Manpasand Beverages 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 Manpasand Beverages IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Manpasand Beverages IPO allotment status.
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