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Aqua Logistics IPO Recommended for Long-term investors:Swastika

Amandeep Singh — Wed, 27 Jan 2010 11:28:19 +0000

Swastika Investmart has come out with a research report on Aqua Logistics IPO (initial public offering). The research firm said long-term investors might consider investing in IPO.

The IPO of Rs 150 crore of Mumbai based Aqua Logistics has opened for subscription and the price band is fixed at Rs 220-230 per share. It is engaged in the business of freight forwarding services with agents to provide end-to-end solution to its clients.

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Swastika Investmart report on Aqua Logistics IPO:

Aqua Logistics is operating as a Third Party Logistics (3-P Logistics) provider. Very few companies in the country are working on this model of Logistics business. However, in future bigger companies are expected to rely on 3-P Logistics rather than incur their costs for building their own logistics network. This may help company to command good business in long run. However, considering weak market sentiments for Logistics company as of now, long-term investors may consider investing in IPO after making a Peer-Group comparison for the Industry.

Disclaimer: The views and investment tips expressed by Swastika Investmart on Equitipz.com are their own, and not that of the website or its management. Equitipz advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment: Aqua Logistics Report – Swastika.pdf

Source: Link

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Subscribe to Thanga Mayil Jewellery IPO: Hem Securities

Amandeep Singh — Wed, 27 Jan 2010 11:15:30 +0000

Yesterday we updated you regarding the Thangamayil Jewellery IPO opening for subscription from today, i.e. 27th Jan, 2010. Hem Securities has come out with a research report on Thangamayil Jewellery IPO (initial public offering). The research firm has recommended subscribing the issue.

The initial public offering (IPO) of Rs 28.75 crore has opened for subscription today. The price band for the issue is at Rs 70-75 per equity share. The issue will close on January 29.

Hem Securities report on Thangamayil Jewellery IPO:

The company is bringing the issue at price band of Rs 70-75 per share which will turn into P/E multiple of 5.65-6.06 at post issue EPS of Rs 12.37 (Basis PAT annualized 6 months ending 30.09.2009).The company’s topline has grown at a CAGR of 75% from FY05 to FY09 while bottomline of the company has gown at a CAGR of more than 100% from FY05 to FY09. Looking at the peers valuation, company’s issue price looks reasonable at present level. Hence, we recommend investor to Subscribe the issue.

Disclaimer: The views and investment tips expressed by Hem Securities on Equitipz.com are their own, and not that of the website or its management. Equitipz.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment: Thangamayil – Hem.pdf

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Thanga Mayil Jewellery IPO to open on Jan 27

Amandeep Singh — Mon, 25 Jan 2010 09:14:43 +0000

Thangamayil Jewellery is coming out with an initial public offering (IPO) of Rs 28.75 crore on January 27, 2010. The price band for the issue has been fixed at Rs 70-75 per equity share. The issue will close on January 29.

The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai; working capital requirement and issue expenses.

For the year ended March 31, 2009, it has reported 10% jump in its net sales of Rs 246.84 crore and net profit of Rs 7.49 crore.

Revenue break up for FY09:

Gold & Jewellery – Rs 241 crore
Diamond                 - Rs 0.28 crore
Silver                        – Rs 5.53 crore
Others                      - Rs 0.04 crore

It is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. It has introduced the Hallmarking practice for the first time in Madurai.

Equity shares are proposed to be listed on the BSE and NSE. The book running lead manager to the issue is Keynote Corporate Services Limited and SKDC Consultants Limited is the registrar.

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Should I buy Aqua Logistics IPO? : Angel Broking Report

Amandeep Singh — Mon, 25 Jan 2010 08:54:52 +0000

We have already updated you that Aqua Logistics is open for subscription from today onwards. Being an investor, everybody has a question in mind, whether to invest in the IPO or not.

Angel Broking has come out with a research report on Aqua Logistics IPO (initial public offering). According to the report released from the firm, the investors are recommended to avoid the IPO.

The IPO of Rs 150 crore of Mumbai based Aqua Logistics opened for subscription and the price band is fixed at Rs 220-230 per share. It is engaged in the business of freight forwarding services with agents to provide end-to-end solution to its clients.

Angel Broking report on Aqua Logistics IPO:

The company has been on a high growth trajectory since the last three years due to its low base. However, this may not be the case going forward especially in the MTO Segment. Nonetheless, we have assumed 50% Earnings CAGR (Compound Annual Growth Rate) over FY2009-12E on account of Margin expansion due to higher contribution from the Project Cargo and Contract Logistic Segments and overall improvement in the trade scenario. At the lower price band, the IPO is available at 13.4x FY2012E EPS, which is in line with Allcargo, but at a premium to GDL (Gateway Distriparks) on our estimated FY2012E EPS. We believe ALL should trade at a discount to Allcargo and GDL given that these players have a proven track record, diversified portfolio of services and stronger balance sheets. Hence, we recommend an avoid on the IPO.

To read the full report from Angel Broking Click on the attachment: Aqua Logistics – Research Report.pdf

Disclaimer: The views and investment tips, views expressed in the report are that of Angel Broking, and not that of the website or its management. Equitipz.com advises users to check with certified experts before taking any investment decisions.

What are your personal views on this IPO? What have you decided whether to invest your money in this company or not? Please share your views in the comment box below.

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Aqua Logistics IPO opens for Subscription

Amandeep Singh — Mon, 25 Jan 2010 08:30:52 +0000

As we updated in a previous article “Aqua Logistics to raise Rs 150cr; IPO to open on Jan 25” regarding Aqua logistics IPO coming to the market, the initial public offering (IPO) of Rs 150 crore of Mumbai based Aqua Logistics has opened for subscription today.

The price band is fixed at Rs 220-230 per share. A discount of Rs 5 to the issue price has been allowed to retail investors. The issue will close on January 28, 2010.

Aqua Logistic is engaged in the business of freight forwarding services with agents to provide end-to-end solution to its clients.

The company intends to use the issue proceeds for purchasing of specialized equipments; expansion & establishment of offices; funding proposed acquisition and additional working capital requirements.

The book running lead managers to the issue are Centrum Capital Ltd and Saffron Capital Advisors Pvt Ltd. Link Intime India Pvt Ltd is the registrar.

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Jubilant FoodWorks IPO subscribed 31.11 times

Amandeep Singh — Thu, 21 Jan 2010 08:11:40 +0000

The second initial public offering (IPO) of the year 2010, Jubilant FoodWorks, the Domino’s business operator in India, has been received tremendous response from investors, especially from qualified institutional investors. The issue has been subscribed 31.11 times so far, as per data available on the NSE website.

Qualified institutional investors‘ reserved portion subscribed 59.39 times followed by non-institutional investors with 51.95 times and retail 3.78 times.

The IPO of 22,670,447 equity shares closes for subscription today. The company is going to raise upto Rs 328.72 crore at upper end of the price band of Rs 135-145 per share.

The company has received commitment of Rs 44.37 crore from anchor investors, which include Arisaig Partners, Blackrock, Canara Robeco MF, Capital World, Fidelity, Franklin Templeton, HSBC, Prudential, Reliance MF, SBI MF, T Rowe Price and Ward Ferry.

Kotak Mahindra Capital Company Limited is acting as the sole book running lead manager to the offer. The offer comprises a fresh issue of 4,000,000 equity shares and an offer for sale of 18,670,447 equity shares by the India Private Equity Fund (Mauritius) and Indocean Pizza Holding Limited.

The equity shares offered through the Red Herring Prospectus (RHP) are proposed to be listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

Source: MoneyControl

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Oberoi Constructions files papers for IPO with SEBI

Amandeep Singh — Mon, 18 Jan 2010 14:12:58 +0000

Real estate company Oberoi Constructions filed its draft red herring prospectus (DRHP) today with the Securities Exchange Board of India (SEBI), according to the sources.

According to the sources, the company, proposes to raise Rs 1,500 crore via an initial public offer (IPO) and the promoters may divest 11-12% stake via this issue. Oberoi Constructions is a zero debt company. The proceeds from the IPO will be utilised towards expansion and acquisition of land bank. The company has about 26 ongoing projects.

Kotak Mahindra, Enam Securities and Morgan Stanley are bankers to the issue, it is learnt.

Also, Morgan Stanley holds about 10% stake in the company. At the time of the Morgan Stanley investment, the company was valued at about Rs 6,750 crore. The company is now looking to double it through the IPO. The IPO issue is to give a no-exit option to Morgan Stanley, it is learnt.

Disclaimer:

The above information is based on sources and no information has been provided to the stock exchanges.

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Aqua Logistics to raise Rs 150cr; IPO to open on Jan 25

Amandeep Singh — Mon, 18 Jan 2010 13:55:43 +0000

Mumbai based Aqua Logistics is coming out with an initial public offering (IPO) to collect Rs 150 crore from the markets. The issue will open for subscription on the January 25, 2010 and will close on January 28, 2010. The price band is fixed at Rs 220-230 per share.

The company intends to use the issue proceeds for purchasing of specialized equipments; expansion & establishment of offices; funding proposed acquisition and additional working capital requirements.

The book running lead managers to the issue are Centrum Capital Ltd and Saffron Capital Advisors Pvt Ltd. Link Intime India Pvt Ltd is the registrar.

Source: Link

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Man Infra gets IPO grade of 3/5 from CRISIL

Amandeep Singh — Wed, 06 Jan 2010 10:50:10 +0000

The proposed IPO of the Man Infraconstruction(Man Infra) has been assigned a CRISIL IPO Grade “3/5″ by CRISIL, according to its report dated January 5, 2010.

According to the report, “This grade indicates that the IPO’s fundamentals are average, relative to the other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate with regard to its fundamentals. The grade is not a recommendation to buy/sell or hold the graded instrument, or a comment on the graded instrument’s future market price or its suitability for a particular investor.”

“The IPO grade assigned to Man Infra reflects that the company is well positioned in contracting services in the ports sector and in the real estate contracting business in Mumbai. The grading takes into account the expected buoyant supply in the Mumbai residential market (driven by pickup in demand) and significant investments likely in the ports sector, given the current high utilisation rates, expected increase in traffic and the need to improve efficiency. The grading also takes into consideration the company’s strong order book position of about Rs 14.2 billion, which provides it with sufficient revenue visibility. The grading also factors in high operating margins, low gearing and the company’s strong balance sheet.”

The report also says, “However, there is a high dependence on the real estate market with more than 80% of its order book coming from the real estate sector. Any slowdown in the real estate market may have an impact on order accretion and may lead to delay or cancellation of projects. Also, over the past few years, the company has been reliant on a few clients for its orders; however it has recently acquired new orders from varied set of clients thereby de-risking itself.”

You may read the entire CRISIL Report Here.

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Indiabulls Power lists at Rs.45 and then loses 16% in early trade

Amandeep Singh — Fri, 30 Oct 2009 07:15:00 +0000

Indiabulls Power listed at Rs 45.05 on the NSE today, near its issue price of Rs 45. However, the share fell sharply and at 9.56 am, it was trading at Rs 37.70, at a huge discount of 16.22% to its issue price.

The share touched an intraday high of Rs 45.05 and an intraday low of Rs 35.35 in the early trade. The total traded quantity was 1,54,44,101 shares and turnover was at Rs 5,895.01 lakh.

On the BSE, the share opened at Rs 44.95, around its issue price. It touched an intraday high of Rs 45.50 and intraday low of Rs 35.

The issue had opened for subcription during October 12-15 with 39.07 crore equity shares shares, including a green shoe option of retaining 5.09 crore equity shares.

It received an overwhelming response from investors, especially QIBs (qualified institutional investors) and was subscribed 21.84 times.

Indiabulls Power intends to use the IPO proceeds to part finance the construction and development of the 1,320 MW Amravati Power Project Phase-I, fund equity contribution in the company?s wholly owned subsidiary, IRL to part finance the construction and development of the 1,335 MW Nashik Power Project, apart from general corporate purposes.

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Den Networks IPO opens for Subscription

Amandeep Singh — Wed, 28 Oct 2009 09:12:00 +0000

The initial public offering (IPO) of Den Networks has opened for subscription today. The issue is of up to 20,000,000 equity shares of Rs 10 each. The issue will close on October 30, 2009. The company has fixed price band between Rs 195-205/share.

The issue comprises a net issue to the public of up to 19,750,000 equity shares and a reservation of up to 250,000 equity shares for subscription by eligible employees. The issue would constitute up to 15.16% of the post-issue paid-up equity share capital of the company. The net issue would constitute 14.97% of the post-issue paid-up equity share capital of the Company.

At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers (QIB). The company may allocate up to 30% of the QIB Portion, to anchor investors on a discretionary basis. Further 5% of the QIB portion less anchor investor portion shall be available for allocation on a proportionate basis to mutual funds only.

Also, not less than 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and not less than 30% of the net issue will be available for allocation on a proportionate basis to retail individual bidders, subject to valid bids being received at or above the issue price.

Promoted by Mr Sameer Manchanda and Lucid Systems Private Limited, Den Networks is one of the largest national cable television companies in India engaged in the distribution of analog and digital cable television services (Source: MPA Report 2009). Since incorporation in July 2007, it has expanded analog cable services to 77 cities across India.

It currently provides cable television services in the National Capital Region of Delhi and the states of Uttar Pradesh, Rajasthan, Maharashtra, Gujarat, Karnataka, Haryana, Madhya Pradesh and Kerala. It has obtained an all-India ISP license and has recently commenced a limited roll out of broadband internet services in select areas, which it intends to expand in all the other cities where it operates.

The IPO Proceeds will partly fund the company?s plans to invest in the development of cable television infrastructure and services; the development of cable broadband infrastructure and services; and acquisition of content and broadcasting rights amongst others.

The equity shares offered through the RHP of the Company are proposed to be listed on Bombay Stock Exchange and National Stock Exchange of India.

The global coordinator and book running lead manager for the issue is Deutsche Equities India Private Limited. The co-book running lead manager for the issue is Antique Capital Markets Private Limited. Karvy Computershare Pvt Ltd is the registrar.

For the year ended March 31, 2009, it has reported loss of Rs 13.8 crore and total income of 271.11 crore.

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Thinksoft Global lists at Rs 126 on the NSE

Amandeep Singh — Mon, 26 Oct 2009 08:13:00 +0000

Thinksoft Global Services listed at Rs 126 on the NSE today, at a marginal premium of 0.8% to its issue price of Rs 125 a share. However, the stock gained momentum and at 9.56 am, the share was trading at Rs 133, at a premium of 6.40% to its issue price.

The share touched an intraday high of Rs 134.80 and an intraday low of Rs 126 in the early trade. The total traded quantity was 6,06,972 shares and turnover was at Rs 796.53 lakh.

On the BSE, the share opened at Rs 100, at a discount of 20% to its issue price. It touched an intraday high of Rs 136.80 and intraday low of Rs 100.

The issue was of 36,46,000 equity shares and was subscribed 2.57 times. (Read the IPO Subscription details here) The issue was scheduled to close on September 24 but was extended due to lukewarm response from investors.

The company had also reduced its IPO price band to Rs 115-125 from Rs 120-130 per share. The issue had opened for subscription on September 22, 2009 and closed on October 1.

The IPO consisted a fresh issue of 13.5 lakh shares and an offer for sale of 22.96 lakh shares by Gibraltar-based fund, Euro Indo Investments.

Karvy Investor Services was the book running lead manager to the issue.

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