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Review By Dilip Davda on September 7, 2016
Husys Consulting Ltd (HCL) is in the business of creating the concept of HR Function Outsourcing (HR Function Management (HRFM). Its focus is to be the most innovative, trusted partner in delivering cost effective solutions in the arena of Human Resources Development to the Industry & Society. HCL provides service products/solutions that are Customized, Cost & Time effective for Business. It plans to be the leader in deploying & delivering high quality, innovative, cost effective and time sensitive HR Services, leveraging human potential for the advancement of both business and society.
To repay its existing working capital, development of Cloud based HR software platform and up gradation of existing IT Infrastructure, domestic and international marketing and business development, the company is coming out with a maiden IPO of 608000 equity share of Rs. 10 each at a fixed price of Rs.69 per share to mobilize Rs. 4.20 crore. Issue opens for subscription on 09.09.16 and will close on 19.09.16. Minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Issue is solely lead managed by Sarthi Capital Advisors Pvt Ltd and Karvy Computershare Pvt Ltd is the registrar to the issue. Since inception till February 2014 it issued shares at par. Then it issued bonus shares in the ratio of 1 for 1 in October 2014 and then further equity at a price of Rs. 12.68 in December 2015. Post issue its current paid up equity capital of Rs. 1.67 crore will stand enhanced to Rs. 2.28 crore. Post allotment, shares will be listed on NSE Emerge SME Platform.
On performance front, for last three fiscals, the company has posted turnover / net profit of Rs. 5.28 cr. / Rs. 0.28 cr. (FY14), Rs. 9.26 cr. / Rs. 0.24 cr. (FY15) and Rs. 12.45 cr. / Rs. 0.38 cr. (FY16). Thus if we attribute latest earnings on post issue equity then asking price is at a P/E of 41 plus and at a P/BV of 4.7. Thus it looks fully priced. However, fancy for this sector witnessed for main board IPOs like Teamlease and Quess Corp that are faring well post listings, this issue will create fancy post listing.
On merchant banker’s front, this is the 18th IPO from its stable and earlier mandates have shown mixed trends.
Conclusion: Sector in which this company is operating has created fancy in the market. Hence, investor may consider modest investment for medium to long term in this issue.
Review By Dilip Davda on September 7, 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 Husys Consulting Ltd offers an early investment opportunity in Husys Consulting Ltd. A stock market investor can buy Husys Consulting IPO shares by applying in IPO before Husys Consulting Ltd shares get listed at the stock exchanges. An investor could invest in Husys Consulting IPO for short term listing gain or a long term.
Read the Husys Consulting IPO recommendations by the leading analyst and leading stock brokers.
Husys Consulting IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Husys Consulting IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts in the above answer.
Our recommendation for Husys Consulting IPO is to subscribe.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the Husys Consulting IPO.
The Husys Consulting IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Husys Consulting IPO allotment status to check.
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