IPO ANALYSIS : ARTEMIS ELECTRICALS LTD - Avoid

Issue Details :

Issue opens / closes on	24-04 /30-04-2019
Issue size	70,00,000 equity shares
Face value	Rs 10
Price Band	Rs 55-60
Business	Mfrs of LED lighting systems /accessories
Promoters	PRAVIN KUMAR AGARWAL & M/S YASHVIKRAM INFRASTRUCTURE PRIVATE LIMITED
Listing	Bse, sme
BRLM	Fedex Securities
Registrar	Cameo Corp services

IPO ANALYSIS : WHITE ORGANIC RETAIL LIMITED - Avoid

Issue Details :

Issue opens / closes on	26-04 /02-05-2019
Issue size	24,54,000 equity shares
Face value	Rs 10
Price Band	Rs 63
Business	Trading in agri products
Promoters	R. DARSHAK MAHESH RUPANI, MR. PRASHANTT MAHESH RUPANI AND WHITE ORGANIC AGRO LIMITED
Listing	Bse, sme
BRLM	Finshore Management Services
Registrar	Link Intime

Remarks:

1. Clash of business interest.
2. EPS is misleading. (company’s other equity is huge).

IPO ANALYSIS : G.K.P. Printing & Packaging Limited - Avoid

Issue Details :

Issue opens / closes on	23-04 /26-04-2019
Issue size	20,56,000 equity shares
Face value	Rs 10
Price Band	Rs 32
Business	Mfrs and traders of corrugated boxes
Promoters	KEVAL HARSHAD GORADIA AND PAYAL KEVAL GORADIA
Listing	Bse, sme
BRLM	Holani Consultants
Registrar	Link Intime

Remarks:

Limited operational history - less than a year.

Maruti Suzuki India's net declines, stock down 2 percent

 Maruti Suzuki India has reported a 4.6 per cent decline in net profit to Rs 1,795.6 crore for the fourth quarter of the 2018-19 fiscal.

The company had posted a net profit of Rs 1,882 crore in the January-March period of 2017-18.

For the entire 2018-19 fiscal, the company has posted a net profit of Rs 7,500 crore, down 2.9 per cent from the previous fiscal.

The shares of Maruti reacted negatively and ended the day at Rs 6880, down almost 2 percent.

Axis Bank's net at Rs 1505 Cr

 Axis Bank has reported a net profit of Rs 1,505 crore in the March quarter of FY19, as against a loss of Rs 2,189 crore in the same period last year.


Its profit was lower by more than Rs 1,600 crore estimated analysts. The net interest income increased 21% y-o-y to Rs 5,706 crore and its domestic net interest margin stood at 3.61%, up 2 basis points. Axis Bank’s other income, which includes core fee income, rose 26% in March quarter.

The stock closed at Rs 741, down Rs 11 in Thursday's trading.

Tata Steel profit plunges

Tata Steel's net profit plunged by 84 per cent in the March quarter to Rs 2,295 crore against Rs 14,688 crore logged in the same period last year due to higher operational and finance costs.

Sales were up 24 per cent at Rs 41,186 crore.

The company has announced a dividend of Rs 13 a share on fully paid equity share and Rs 3.25 a share on partly paid equity share. 

The stock closed at Rs 511, in yesterday's trading.

Neogen Chemicals IPO gets 27% subscription on day 1

Neogen Chemicals IPO has received 27% subscription on day 1. The IPO closes tomorrow.

FirstChoice IPO has avoid call on the offer.

Vodafone rights issue fully subscribed

Vodafone Idea’s Rs 25,000-crore rights offering has garnered full subscription according to sources. 

Wednesday was the last day to apply for the rights offering, which had opened for subscription on April 10. In terms of amount mobilized, the Vodafone Idea rights offering will be among the biggest equity offerings in the Indian markets. 

The rights issue has been priced at Rs 12.5 per share, a discount of 27 per cent over current price of  Vodafone stock. 

Softbank to invest in Jio

Japan's Softbank is reportedly looking to make a USD 3 billion investment in India's fastest-growing telecom firm Reliance Jio.

This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries' refining and petrochemical business for USD 10 billion. 

IPO ANALYSIS : Neogen Chemicals Limited - 'No speciality in the offer' - Avoid

Issue Details :

Issue opens / closes on	24-04 /26-04-2019
Issue size	Equity Shares comprising of fresh issue of up to Rs. 700 Million and OFS of up to 29,00,000 Equity shares.
Face value	Rs 10
Price Band	Rs 212-215
Business	Manufacturers of bromine- based and lithium-based, specialty chemicals.
Promoters	HARIDAS THAKARSHI KANANI AND HARIN HARIDAS KANANI
Listing	Bse, Nse
BRLM	Inga Advisors and Batlivala & Karani Securities India Private Limited
Registrar	Link Intime

Business :

Company is in to manufacture of specialty organic bromine-based   and other specialty organic chemical compounds and specialty inorganic lithium-based chemicals compounds.

Specialty organic chemical compounds find use in application industries such as pharmaceutical, agrochemical, flavor and fragrance and electronic-chemical.

Lithium Compounds manufactured are used in eco-friendly Vapor Absorption Machines  for cooling air/water/process equipment and find application in industries such as heating ventilation and air-conditioning and refrigeration, construction chemicals, pharmaceutical and specialty polymer.

The company markets their Products in India and as well export  to Europe, USA and Japan.

Objects of the Fresh Issue:

1. Prepayment or repayment of loans.

2. Early redemption of debentures.

3. Long term working capital.

4. General corporate purposes.

Financials : (Rs in crores except EPS)

	31-12-2018 (9 months)	31-03-2018	31-03-2017
Revenues	160	165	122
Net profit	12.22	10.49	7.68
Capital	20.10	20	20
Other Equity	41	30	22
EPS	6.09	5.25	3.84

 Risks:

1. Suit filed by Neogen Corp against the company for using the mark ‘Neogen’.
2. Promoter and member of promoter group are selling Shares in the Offer.
3. Debt heavy enterprise.
4. Company has in the past made erroneous filings with the Registrar of Companies.

Recommendations:

The offer is made around 30 PE on its FY 19 financials, which is is on the higher side. The company is un professionally managed.

Avoid the IPO.