IPO

ipo information of NSE,BSE

HDFC Standard Life Insurance Company Ltd IPO (HDFC Life IPO) Detail

Posted on by Hiren Kamani

hdfc-life

HDFC Standard Life Insurance Company Ltd (HDFC Life) Incorporated in 2000, HDFC Standard Life Insurance Company Ltd (HDFC Life) is Mumbai based life insurance provider in India. offering a range of individual and group insurance solutions. Its portfolio comprises various insurance and investment products such as 1) Protection, 2) Pension, 3) Savings & Investment and Health, along with Children's and Women's Plan. As on June 30, 2017, the Company offered 31 individual and 10 group products, along with 8 optional rider benefits catering to specific needs of customers during each stage of their lives.

HDFC Standard Life Insurance Company Ltd (HDFC Life) is a joint venture between Housing Development Finance Corporation Limited, one of India’s leading housing finance institutions and Standard Life Aberdeen plc (one of the world’s largest investment companies), initially through its wholly owned subsidiary The Standard Life Assurance Company and now through its wholly owned subsidiary, Standard Life (Mauritius Holdings) 2006 Limited. 

HDFC Life has a pan India presence, comprising 414 branches and spokes, and over 11,200 branches across India of its top 15 bancassurance partners, as on June 30, 2017. The Company has two wholly owned subsidiaries namely HDFC Pension Management Company Limited, which is regulated by Pension Fund Regulatory and Development Authority of India and HDFC International Life and Re Company Limited, which is regulated by Dubai Financial Services Authority.

Company Promoters:

The Promoters of the Company are:

1. Housing Development Finance Corporation Limited ("HDFC");
2. Standard Life (Mauritius Holdings) 2006 Limited ("Standard Life Mauritius"); and
3. Standard Life Aberdeen plc ("Standard Life Aberdeen").

Objects of the Issue:

The objects of the issue are:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and 
2. To carry out the sale of Offered Shares by the Selling Shareholders.

Issue Detail:

  »»  Issue Open: Nov 7, 2017 – Nov 9, 2017 
  »»  Issue Type: Book Built Issue IPO 
  »»  Issue Size: 299,827,818 Equity Shares of Rs 10 aggregating up to Rs 8,695.01 Cr 
    ›  Offer for Sale of 299,827,818 Equity Shares of Rs 10 aggregating up to Rs [.] Cr 
  »» Face Value: Rs 10 Per Equity Share 
  »» Issue Price: Rs 275 – Rs 290 Per Equity Share 
  »» Market Lot: 50 Shares 
  »» Minimum Order Quantity: 50 Shares 
  »» Listing At: BSE, NSE

 

Mahindra Logistics Limited IPO (Mahindra Logistics IPO) Detail

Posted on by Hiren Kamani

mahindra_logistics

Mahindra Logistics Incorporated in 2008, Mahindra Logistics is one of India’s largest third-party logistics solutions providers in the India. Mahindra Logistics Limited is end-to-end logistics solution and service provider which was estimated at INR6.40 trillion in Fiscal 2017

Mahindra Logistics is part of Mahindra Group (M&M), one of India's leading corporate groups with operations across several industries and countries. Before 2008 the logistics business of M&M was operated as a division of M&M serving the transportation and distribution, warehousing and in-factory logistics requirements of M&M.

Mahindra Logistics offers logistics solutions and services, including transportation, distribution, warehousing, in-factory logistics and value-added services, to over 350 clients through 24 city offices.

On performance front, Mahindra Logistics has (on a consolidated basis) reported revenue/net profits of Rs. 1939.56 cr. / Rs. 38.52 cr. (FY15), Rs. 2077.13 cr. / Rs. 35.97 cr. (FY16), Rs. 2676.25 cr. / Rs. 46.07 cr. (FY17). For Q1 of current fiscal it has posted net profit of Rs. 15.13 crore on total revenue of Rs. 854.46 crore.

Objects of the Issue:

The objects of the Offer are:

1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and

2. For the Offer for Sale.

Issue Detail:

Issue Open: Oct 31, 2017 – Nov 2, 2017

Issue Type: Book Built Issue IPO

Issue Size: 19,332,346 Equity Shares of Rs 10 aggregating up to Rs 829.36 Cr

Offer for Sale of 19,332,346 Equity Shares of Rs 10 aggregating up to Rs [.] Cr

Face Value: Rs 10 Per Equity Share

Issue Price: Rs 425 – Rs 429 Per Equity Share

Market Lot: 34 Shares

Minimum Order Quantity: 34 Shares

Listing At: BSE, NSE

 

MAS Financial Services Ltd IPO (MAS Financial IPO) Detail

Posted on by Hiren Kamani

MAS Financial Services Ltd

MAS Financial Services Ltd IPO (MAS Financial IPO) Detail

MAS Financial Services Ltd incepted back in 1995, when times were quite different, MAS delivered financing solutions to those who needed it the most. MAS Financial Services Ltd is Gujarat based non-banking financial company (NBFC) registered with the Reserve Bank of India.

MAS Financial Services Ltd focused on fulfilling Requirements of lower income and middle-income groups of the society. MAS Financial Services Ltd offer following Financial Services.

  1. Micro Enterprises Loans
  2. SME Loans
  3.  Home Loans
  4. Two Wheeler Loans, Used Car Loans, and Commercial Vehicle Loans

MAS Financial Services Ltd has opened several branches. MAS Financial Services Ltd established the network of 72 branches in major cities of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu & Karnataka, through which over 3200 centers are catered is destined to grow so that they attend to the needs of their valued customers efficiently.

MAS Financial Services Ltd posted following revenue/net profits

Rs. 184.92 cr. / Rs. 33.09 cr. (FY14)

Rs. 238.20 cr. / Rs. 40.80 cr. (FY15)

Rs. 304.20 cr. / Rs. 51.45 cr. (FY16)

Rs. 364.70 cr. / Rs. 69.33 cr. (FY17)

For Q1 of current fiscal it has reported net profit of Rs. 23.70 cr. on revenue of Rs.104.33 cr. For last five years it has posted CAGR of 26.3% and 25.9% in revenues and net profits respectively.

Issue Detail:

Issue Open: Oct 6, 2017 – Oct 10, 2017

Issue Type: Book Built Issue IPO

Issue Size:  Equity Shares of Rs 10 aggregating up to Rs 460.04 Cr

Fresh Issue of Equity Shares of Rs 10 aggregating up to Rs 233.00 Cr

Offer for Sale of Equity Shares of Rs 10 aggregating up to Rs 227.04 Cr

Face Value: Rs 10 per Equity Share

Issue Price: Rs 456 – Rs 459 per Equity Share

Market Lot: 32 Shares

Minimum Order Quantity: 32 Shares

Listing At: BSE, NSE

Godrej Agrovet Limited IPO (Godrej Agrovet IPO) Detail

Posted on by Hiren Kamani

Godrej Agrovet Ltd. – IPO Note – Sound Business Coupled With Reasonable Valuations
 
Godrej Agrovet Ltd. (GAL) is a diversified agri-business company, with operations across five business verticals i.e. Animal Feed, Crop Protection, Palm Oil, Dairy and Poultry & Processed Foods. GAL has reported consolidated revenue, EBITDA and net profit CAGR of 15%, 23% and 30%, respectively through FY13-17. Although the growth has been aided by acquisitions in the past two years, organic growth too has been strong. GAL is coming out with an Initial Public Offering (IPO) to raise Rs11.6bn at the higher end of the price band which includes fresh issue of Rs2.9bn and Offer for Sale (OFS) of Rs8.7bn.
 
Diversified Business Model with Strong Synergies
GAL operates in five key segments, which coupled with geographic diversification provides it a hedge against the inherent risks associated with a single category and/or region. Additionally, the operational synergies enable GAL to drive growth, optimise capital efficiency and maintain its competitive advantage. 
 
Strong Parentage & Veteran Management Team
GAL is part of the Godrej group, which is one of the oldest and most prominent business groups in India. The Godrej brand enables the company to attract key talent, develop customers’ and suppliers’ trust and benefit from the group’s global network. Apart from strong parentage, the management team has strong bandwidth with significant industry experience and long association with the group.
 
Robust R&D Capabilities
GAL has a strong focus on Research & Development (R&D) with primary focus on improving yields and procedural efficiencies. Over the years, R&D has been a key competitive strength of GAL across all its business verticals, which enabled the Company to introduce newer and relevant products at regular intervals. The Company set up a dedicated centre in Nashik in May’14 to consolidate its R&D initiatives.
 
Outlook & Valuation
GAL reported consolidated net sales of Rs49.1bn and net profit of Rs2.7bn in FY17. Its consolidated revenues and net profit witnessed a 15% and 30% CAGR, respectively through FY13-17, while its consolidated RoE stood at a healthy 30.6% in FY17. 
 
At higher end of the price band of Rs460/share, the Issue is priced at 32.1x FY17 earnings and 27.5x FY18E earnings respectively.Considering the diversified business model, strong management bandwidth, efficient working capital cycle and impressive return ratios coupled with reasonable valuation, we recommend SUBSCRIBE this IPO.

Issue Detail:

Issue Open: Oct 4, 2017 – Oct 6, 2017 
Issue Type: Book Built Issue IPO 
Issue Size:[.] Equity Shares of Rs 10 aggregating up to Rs 1,157.31 Cr 

Face Value: Rs 10 Per Equity Share 

Issue Price: Rs 450 – Rs 460 Per Equity Share 
Market Lot: 32 Shares 
Minimum Order Quantity: 32 Shares 
Listing At: BSE, NSE

Parag Milk Foods Ltd IPO (Parag Milk IPO)

Posted on by Hiren Kamani

Parag Milk Foods Ltd

Parag Milk Foods Ltd Incorporated in 1992, Parag Milk Foods Ltd is Pune based dairy-based branded food producer. Parag Milk Foods Ltd is involve in collection, distribution of milk and producing dairy-based branded consumer products including cheese, ghee, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages. All products of the company are made from cow milk.

Company's manufacturing facilities are located at Manchar in the Pune district of Maharashtra and Palamaner in the Chittoor district of Andhra Pradesh. Company's supply chain network includes procurement from 29 districts across Maharashtra, Andhra Pradesh, Karnataka and Tamil Nadu, through over 3,400 village level milk collection centres. Parag Milk Foods Brand and product lineup under them:

1. Gowardhan
Gowardhan brand is targeted at house-hold consumption and to be used as cooking ingredients. The products under this brand includes fresh milk, curd products (curd, trim curd and buttermilk), ghee, paneer, butter, milk powders, whey proteins, gulab jamun mix and shrikhand.

2. Go
Targeted at children and the youth generation, primarily for direct consumption. The products under this brand includes cheese products, UHT milk (go milk, go slim milk and go supremo milk), fresh milk: go kidz, fruit yoghurts in six flavours, fresh cream and beverages (lassi and buttermilk in two flavours).

3. Pride of Cows
Farm-to-home concept of milk, directly delivered from the farm to a consumer's door-step, through a subscription model. Targeted at household consumers seeking premium quality cow's milk. The product include under this brand is cow milk.

4. Topp Up
Targeted at the youth generation and travellers as a source of instant nourishment. The products under this brand includes flavoured milk in six flavours.

Competitive Strengths:
1. Well Established Brands Targeting a Range of Consumer Groups
2. Integrated Business Model
3. Diversified Product Portfolio and Customer Base
4. Growing Pan-India Distribution Network
5. Established Track Record of Growth and Financial Performance
6. Experienced Senior Management

Company Promoters:

The Promoters of the company are:

1. Mr Devendra Shah
2. Mr Pritam Shah and
3. Parag Shah

Company Financials:

Particulars

For the year/period ended (in Rs. Million)
  31-Dec-15 31-Mar-15 31-Mar-14 31-Mar-13 31-Mar-12 31-Mar-11
Total Assets 9,701.09 9,229.82 8,228.84 6,914.37 6,049.71 4,733.14
Total Revenue 12,311.88 14,405.19 10,895.00 9,271.49 9,005.40 6,585.03
Profit After Tax (PAT) 319.23 259.66 159.68 207.74 188.97 (4.14)

Objects of the Issue:

The object of the issue are:

1. To meet the capital expenditure requirements for expansion and modernisation of existing manufacturing facilities at Manchar and Palamaner;
2. Investment in Subsidiary for financing the capital expenditure requirements in relation to the expansion and modernisation of the Bhagyalaxmi Dairy Farm;
3. Partial repayment of the Working Capital Consortium Loan; and
4. General corporate purposes.

Issue Detail:

  »»  Issue Open: May 4, 2016 – May 6, 2016
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size:
    ›  Fresh Issue of [.] Equity Shares of Rs 10 aggregating up to Rs 325.00 Cr
    ›  Offer for Sale of 19,850,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs. 220 – Rs. 227 Per Equity Share
  »»  Market Lot: 65 Shares
  »»  Minimum Order Quantity: 65 Shares
  »»  Listing At: BSE, NSE

Discount Retail Individual Bidders and Eligible Employees

Parag Milk Foods offers discount of up to Rs 12 on Issue Price (per Equity Share) to all eligible Retail Individual Bidders and Eligible Employees.

Issue Subscription Detail / Current Bidding Status

  Number of Times Issue is Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Total
Shares Offered / Reserved 10,388,303 5,098,447 3,398,964 300,000 19,185,714
Day 1 – May 4, 2016 17:00 IST 0.1300 0.0300 0.1500 0.0300 0.1000

 

Thyrocare Technologies Ltd IPO

Posted on by Hiren Kamani

Thyrocare Technologies Ltd

Thyrocare Technologies Ltd Incorporated in 2000, Thyrocare Technologies Ltd is one of the leading pan-India diagnostic chains and conducts an array of medical diagnostic tests and profiles of tests that helps in early detection and management of disorders and diseases.

They are India's first fully automated diagnostic laboratory having its strong presence in more than 2000 cities / towns in India and internationally. As of November 30, 2015, they offered 192 tests and 54 profiles of tests to detect a number of disorders, including thyroid disorders, growth disorders, metabolism disorders, auto-immunity, diabetes, anemia, cardiovascular disorders, infertility and various infectious diseases.

Their laboratory process over 30,000 sample and above 1 lakh investigations every day. Their profiles of tests include 17 profiles of tests administered under their 'Aarogyam' brand. Through wholly owned subsidiary, NHL, they operate a network of molecular imaging centers in New Delhi, Navi Mumbai and Hyderabad, focused on early and effective cancer monitoring.

Company Promoters:

The promoters of the company are:

1. Dr A. Velumani
2. Mr A. Sundararaju

Objects of the Issue:

The object of the issue is to:

1. Achieve the benefits of listing the Equity Shares on the BSE and the NSE; and
2. Carry out the sale of up to 10,744,708 Equity Shares by the Selling Shareholders.

Issue Detail:

  »» Issue Open: Apr 27, 2016 – Apr 29, 2016
  »» Issue Type: 100% Book Built Issue IPO
  »» Issue Size: 10,744,708 Equity Shares of Rs. 10
  »» Issue Size: Rs. [.] Crore
  »» Face Value: Rs. 10 Per Equity Share
  »» Issue Price: Rs. – Rs. Per Equity Share
  »» Market Lot:
  »» Minimum Order Quantity:
  »» Listing At: BSE, NSE

Equitas Holdings Limited IPO

Posted on by Hiren Kamani

Equitas Holdings Limited IPO

Equitas Incorporated in June 2007, Equitas Holdings Ltd is Chennai based financial services provider focused on individuals and micro and small enterprises (MSEs). Equitas offers services to low income groups and economically weaker individuals operating small businesses and MSEs with limited access to formal financing channels.

Equitas is one of the 10 companies that have been selected by the RBI to set up small finance banks, niche lenders aimed at helping small businesses and farmers get easier access to funding.

Equitas operates in 11 states, one union territory and the NCT of Delhi. As of June 30, 2015, Equitas had 520 branches across India.

Equitas offer a range of financial products and services including:

1. Microfinance

Equitas offers micro loans of Rs 5,000 to Rs 35,000 to its customers. Company is fifth largest microfinance company in India in terms of gross loan portfolio.


2. Vehicle Finance

Equitas offers used commercial vehicle finance to customers. Company is among a few NBFCs in India operating in the used commercial vehicle finance business.

3. Micro and Small Enterprise (MSE) Finance

Equitas provides asset backed financing primarily focused on self-employed individuals operating micro enterprises and small enterprises.

4. Housing Finance

Equitas provides micro-housing and affordable-housing loans to selfemployed individuals who have limited access to loans from banks and larger housing finance companies. A majority of its
micro-housing finance loan accounts represented cross sales to eligible higher income microfinance customers with a satisfactory track record.

Equitas Competitive Strengths:

1. Robust corporate governance standards and transparent operations leading to institutional confidence and customer goodwill

2. Comprehensive understanding and successful track record with underserved customer segment offering significant growth opportunities

3. Standardized operating procedures and efficient use of technology resulting in effective risk management and improved efficiencies

4. Diversified product offering and markets with significant cross-selling opportunities.

5. Experienced management and strong employee engagement

6. Commitment to social initiatives

Issue Detail:

  »»  Issue Open: Apr 5, 2016 – Apr 7, 2016
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: Equity Shares of Rs. 10
  »»  Issue Size: Rs. 2,175.00 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 109 – Rs. 110 Per Equity Share
  »»  Market Lot: 135 Shares
  »»  Minimum Order Quantity: 135 Shares
  »»  Listing At: BSE, NSE