It is worth noting here that the company‘s three plants are relatively new and its current capacity utilization is only 36% which is projected to gradually increase to 70% in the next five years. Nevertheless, medium term looks uncertain for the scrip due to many factors.
VS Fernando a veteran IPO analyst has come out with his view on Interglobe Aviation (Indigo) IPO. "Emptying the company‘s coffers to fill the promoters‘ kitty on the eve of IPO exposes the caliber of professional management", says the expert.
VS Fernando a veteran IPO analyst has come out with his view on Patdiam Jewellery IPO. "Margin glitters though bad debts take away the gleam!", says the expert.
In case of Ahimsa Industries, allotment of `rights‘ shares to `public‘ shareholder at more than thrice the IPO price raises suspicion, says VS Fernando.
Even though the top line was static between 2012 and 2014, the overall growth in the five year-period is respectable. More importantly, the company has had net cash generation in all the five years.
VS Fernando a veteran IPO analyst has come out with his view on Emkay Taps and Cutting Tools IPO. "Financials justify offer price though returns hinge on many factors!", says the expert.
VS Fernando a veteran IPO analyst has come out with his view on Syngene International IPO.
MD Inducto: Promoters‘ knowledge, experience and established brand make it acceptable grade though wafer-thin margins, large equity base, huge working capital, poor industry sentiment, etc. cast shadowâ€¦â€¦, says VS Fernando.
Jiya Eco Products: Sound fundamentals and reasonable pricing should ensure decent returns in the long run, says VS Fernando.
VS Fernando a veteran IPO analyst has come out with his view on Manpasand Beverages IPO. "Steep pricing gives bitter taste!", says the expert.
VS Fernando a veteran IPO analyst has come out with his view on Ambition Mica IPO. "Established brand and financial track merit price though lean industry margins, corporate governance issues and poor market-making of SME listings take the sheen away", says the expert.
UFO Moviez India: Recent impressive financial performance notwithstanding, poor corporate governance, tax raids, unassuming promoter stake, running multiple companies in similar line of business, group companies‘ poor financial health, etc. raise perception issues, says VS Fernando.
MEP Infrastructure Developers: Promoters‘ controversial image, unclear and unusual separation from group‘s listed company that is under cloud, loss-making operations, poor financial health, lenders‘ diktat for recovering dues out of IPO proceeds, etc. make MEP Infrastructure shaky proposition!, says VS Fernando.
VS Fernando a veteran IPO analyst has come out with his view on VRL Logistics IPO. "Sound track, buoyant prospects and credible dividends merit attention", says the expert.
GFL holds 75% in Inox Wind whose valuation is sought to be Rs 7000 cr-plus. It has 48% stake in another listed company of the group, Inox Leisure, which is currently valued about Rs 1700 cr by the market. Further, GFL has 100% interest each in Inox Renewables Ltd and Inox Infrastructure Ltd whose valuations may be unlocked sometime later.
VS Fernando a veteran IPO analyst has come out with his view on NCML Industries IPO. "The issue to benefit veiled 'angel' investor!", says the analyst.
VS Fernando, a IPO analyst has come out with its view on Encash Entertainment SME IPO. "Regulators awaken if you care for IPO-market!", says the expert.
SCL presents itself as a crop protection chemical company engaged in the marketing & distribution of wide range of formulations and generic active ingredients globally.
Snowman offers high quality cold chain storage, distribution and value-added services. It has high-end equipment and handling mechanism, and uninterrupted power and fuel supply.
Anisha Impex, whose aggregate profit in five years was only Rs 46 lakh, is enlarging its capital base from Rs 22 lakh to Rs 16.43 cr. How will it service such a large equity? "Dividend does not matter for IPO-investors", says the merchant banker's representative!
The two decade-old Unishire Urban Infra is making a fresh issue of 64.3 lakh shares of Rs 10 each at par value aggregating to Rs 6.43 crore. In the post-IPO equity of Rs 24.36 crore, the promoters will have an unassuming stake of less than 27 percent.
Chemtech Industrial Valves IPO: Unstable financials, technocrat-promoter taking backseat, desperate 'high-sea trading', etc. make the company unsafe for investment!, says VS Fernando an IPO analyst.
Amrapali Capital: Scamsters can tap Indian capital markets just paying penalty!, says VS Fernando.
Mitcon Consultancy and Engineering Services: Since there is no identifiable promoter, the entire post-issue capital of Rs 12.10 cr is considered as public float. Though MITCON is the fourth IPO to be listed on the SME Platform of NSE, it is the first 'fixed price' SME on NSE, says VS Fernando.
One and a half year-old Kolkata-registered Newever Trade Wings (NTW) is floating Rs 6.32 cr IPO through BSE-SME at par. On the face of it, NTW may not look extraordinary. But, the promoters' background, group company stock's recent meteoric rise on BSE and the behind-the-scene moves do suggest that the Kayans of Kolkata are out for a bigger game!