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Do not Subscribe until it will get down to 100 or 150 range.........
Do not Subscribe this IPO, Subscribe when it falls down to INR 100 or INR 120....
cox &KNGS IS A GOOD COMPANY N HAVE SHOWN VERY GOOD RESULTS IN THE LAST THREE QUARTERS.This an established brand in the hospitality industry and have various businesses in thir kitty.Revenur generation is assired n post IPO,the EPS may be around 10 n may be more coz they going to reduce their debts substantially thus adding to income.One should not compare to some of the recent IPOs cox they were overpriced and was clearly evident n people invested in them coz of greed n the markets too were rising.They were almost new projects n could have been evaluated from a longer prospectives.I recommend thsi IPO...
IPO listing may be good or bad but i am sure that it will prove a good boost for the hopitality industry So it is good idea to invest in INDIA HOTEL , HOTEL LEELA and TAJ GVK. ...
none of the IPOs in the recent times have lived upto the hype and expectations created by them... Den Netowork will be no different.......
Looks 15 to 30 rs more than fair valuation....Retail investors can wait for listing and buy this in secondary market at rs.300. I am in at around 285 not more than that...I will give a pass for this IPO and instead buy from secondary market....
Good analysis.I too feel valuation is fair and the stock will trade at par with Thomas Cook post list. 20-25% listing gain is a realistic expectation....
The issue is fairly priced at par with Thomas Cook. Cox & King is not a new company and they are in business for past 250 years. With the rise of disposible income more and more indians will travel abroad on holiday. India tourism market offers good grouth potential for next 10 years. Therefore I think one should apply for the IPO....
The IPO of Cox & Kings (India) Limited is the second from reputed companies in the Travel/ Holidays sector this year, the first being the Mahindra Holidays IPO.
The company can be better compared to Thomas Cook as it is primarily into Travel Services like Thomas Cook while Mahindra Holidays is into Time Share, etc.
If Thomas Cook started its India operations, with its first office being set up in Kolkata in 1881, Cox & Kings (India) Ltd. was incorporated as ‘Eastern Carrying Company Limited’ on June 7, 1939. The name was subsequently changed to ‘Cox and Kings (India) Limited’ on February 23, 1950.
There is no questioning the reputation of the company both in India and abroad. What is left to be discussed is the valuation of the IPO.
The company had reported Net Profit of Rs.62.76 crores in FY 2008-09 which on an equity of Rs.47.47 crores yields an EPS of Rs.13.22. However, post IPO the equity capital will bulge to Rs.62.92 crores and the fully diluted EPS would reduce to Rs.10. However, this does not consider the results for the quarters ending June 2009 and September 2009 which could have gone either way.
Thomas Cook with a TTM EPS of Rs. 1.50 quotes steadily around Rs.60 in the bourses which is at a PE of 40. It is not unfair to give such a valuation to Cox & Kings considering its parentage and reputation.
Personally, I feel that the IPO has left some money on the table like Oil India IPO.
As the market sentiment too has marked upwards, it may not be unrealistic to expect a Rs.400 price for the share (Rs.10 fully diluted EPS post IPO multiplied by 40) post listing.
Since the sentiment of individual investors towards IPOs has been poor due to some overpriced IPOs, the chance of oversubscription is low and hence the chance of allotment is better in the individual investor category.
I think an individual investor can apply to this issue....
IS any one can give some advise on this issue?? It is very difficult to decide after the poor performance of the recent power IPOs!!!!!!!!! GCN...
Another IPO on street,
the first ipo of mahindra was pretty good then all power ones, hope this will too
please lay some light and your expertise on this ipo
regards
alok aggarwal...
yes as it cheaper than its peers...
Hi Ritesh,
Hope you are fine. I read your message only today and thank you for the same.
I am trying to be more active in the forums
Rajoday...
Today announce in paper Right issue date of Laxmi Vilas Bank is 16th Nov. to 15th Dec. 2009. ...
