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Review By Dilip Davda on September 28, 2016
Globe International Carriers Ltd. (GICL) is ISO 9001:2015 certified company for providing integrated logistics Solution and also an approved transporter by Indian Banks’s Association. Its goods transportation service business serves a broad range of industries, including metal and metal products, textiles, apparel, furniture, appliances, pharmaceutical products, rubber, plastics, wood, glass, telecom products automotive parts and machinery.
To part finance its working capital needs and general corpus funds, the company is coming out with a maiden IPO of 2154000 equity share of Rs. 10 each at a fixed price of Rs. 24 per share to mobilize Rs. 5.17 crore. Issue opens for subscription on 30.09.16 and will close on 07.10.16. Minimum application is to be made for 6000 shares and in multiples thereon, thereafter. Issue is solely managed by Hem Securities Ltd and Sharex Dynamic (India) Pvt Ltd is the registrar to the issue. Post allotment, shares will be listed on NSE SME Emerge platform. From inception till 2010 it issued equity at par. Thereafter it issued further equity at a price of Rs. 210 to Rs. 1000 during 2010-2013. In November 2015 it issued bonus in the ratio of 5 for1. Post issue its current paid up equity capital of Rs. 5.89 crore will stand enhanced to Rs. 8.04 crore.
On performance front, for last four fiscals, the company has posted turnover/net profit of Rs. 113.40 cr. / Rs. 0.07 cr. (FY13), Rs. 106.85 cr. / Rs. 0.12 cr. (FY14), Rs. 114.30 cr. / Rs. 0.82 cr. (FY15) and Rs. 102.84 cr. / Rs. 1.01 cr. (FY16). Thus despite inconsistency in top line, it has posted gradual growth in bottom lines. If we attribute the latest earnings on fully diluted equity post IPO then the asking price is at a P/E of 19 plus and at a P/BV of 1. Industry composite P/E is around 35. Thus issue is priced reasonably.
On merchant banker’s front, this is the 23rd mandate from its stable and past mandates have shown mixed trends.
Conclusion: Investors may consider medium to long term investment in this IPO.
Review By Dilip Davda on September 28, 2016
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. My reviews do not cover GMP market and operators game plans. Readers must consult a qualified financial advisor before making any actual investment decisions, based the on information published here. With entry barriers, SEBI wants only well-informed investors to participate in such offers. With crazy listings in the recent past, SME IPOs drew the attention of investors across the board and lead to seer madness. However, as SME issues have entry barriers and continued low preference from the broking community, any reader taking decisions based on any information published here does so entirely at their own risk. The above information is based on information available as of date coupled with market perceptions. The Author has no plans to invest in this offer.
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
(Dilip Davda -SEBI registered Research Analyst-Mumbai,
Registration no. INH000003127 (Perpetual)
Email id: dilip_davda@rediffmail.com ).
The initial public offer (IPO) of Globe International Carriers Limited offers an early investment opportunity in Globe International Carriers Limited. A stock market investor can buy Globe International IPO shares by applying in IPO before Globe International Carriers Limited shares get listed at the stock exchanges. An investor could invest in Globe International IPO for short term listing gain or a long term.
Read the Globe International IPO recommendations by the leading analyst and leading stock brokers.
Globe International IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Globe International IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts in the above answer.
Our recommendation for Globe International IPO is to subscribe.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the Globe International IPO.
The Globe International IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Globe International IPO allotment status to check.
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