Nexxus Petro Industries Limited IPO (Nexxus Petro Industries IPO) Detail

Not received any confirmation on alloatment.....neither account debited....................No update on Kfintech.....Have you guys received confirmattion

​@Chhote Lal 

Which company's share should we buy to become eligible in SH Category for upcoming IPO Dr. Agrawal's hospital? Could you please give some information. Thnx in advance.

​@Vipul M Shah  I know the question is not for me. But its DRAGARWQ in BSE.

Zero gmp.. decent listing

Nexxus Petro Industries Limited BSE SME IPO.
BSE Code:-544265                  
Symbol:-NEXXUS
Group:-MT
ISIN:-INE0QUL01011
Issue Price:-105/-
Market Lot:-1200 Shares
Face Value:-10/-
Listing At:-BSE SME

Gmp 10.

Skipped....
@Admin @ Chittorgarh.com Total application figure doesnt seem correct.
Current figure shows Retail applied shares: 6961200 that translates to 5801 applications....
HNI application 7376400 shares translate a Maximum of 3000 applications (Practically much less)
hence total cannot be more than 8800.... Ur figure of 15201 applications doesnt add up.

This might be showing many unsuccesful applications for which mandates not came or not accepted. Exchange shows corrected application figure around 6500. @Justalearner

Even Damber got 10x subscription, don't know whereall promoter will apply his beuty product on investors face 😈.

Not interested. Skipped

very good ipo for long term holding

Listing may be at any price , but this is a clear cut avoid candidate as per my opinion.

Skipping this IPO..

MM track is decent but not so about the LM, relatively new and limited record. Focus is more on LM and its performance since issue is 100% underwritten by LM. Fixed price issue. Issue expenses are higher around 10%. Post ipo promoter holding is near 73%.

Co. operates in Bitumen (डामर especially for roads). Supplies it to contractors and also involved in Bitumen processing. Bitumen has varied uses like Road Construction, Adhesives, Insulation, Paints etc. They have recently setup two new factories in Bhopal and Pali alongwith existing facility at Mundra. Also received empanelment with Rajasthan Govt PWD for Bitumen supply in July 24. Family operated biz with promoter experience going back to 2016 in Bitumen industry. Around 17 permanent employees.

Revenue has grown good (66% YoY FY23 to FY24). But PAT margins are low around 1.5% because of the nature of the biz. Around 50% of trade receivables span over 6 months due and this is the underlying problem hurting the biz which is why IPO proceeds mostly are used for working capital. This is also reflecting in negative cash flow from operations and increase in both short term borrowings (increased from 7.5 cr to 16 cr) and long term borrowings ( 50 lakhs to 5 cr), suggesting difficulty in recovery. Capacity utilisation of only Mundra factory is given around 65%.

IPO price is around 21 P/E. Working capital Projections are for 287 cr revenue FY25 which brings the IPO price near 17 P/E FY25. Peer Agarwal Industrial trades near 15 P/E which is much bigger in size and has better PAT margins.

The addition of new factories is a positive and revenue growth is good at 20-25% YoY, but the lack of pricing power and competitive sector hurts the PAT. Recovery is a major issue which may need further financing either via debt or equity if situation does not improve. With all this, even on forward earnings the ask price is equal to current multiples of peers. Both short term and medium to long term are not looking favourable and this may need time wise correction to actually be called reasonably valued.

Skip, Skip

May be Avoided

Aao thakur aapka swagat hai.