by Ashok Kumar | Aug 2, 2020 | Shares
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Incorporated in 2008, Suratwwala Business Group Ltd is a real estate development company developing commercial and residential projects in Pune District. The company focusses on the development, sale, and maintenance business of properties. Suratwwala also provides the space on rent for banners, hoardings, and towers on buildings and unsold space for a particular time duration.
The company has completed one residential projet of 16 one BHK Apartments and one commercial project named Suratwwala Mark Plazzo – Phase I in Pune district. The company is working on Phase II of the commercial project.
A major portion of the revenue of the company is derived from the development of real estate projects. The project of the company includes both affordable housing and premium housing developments. For maintenance business, Suratwwala Business charges fees from the owners of the units of each project.
Competitive Strengths
1. Diversified Business Model
2. Strong presence in Pune district
3. Land identification capabilities and strong execution
Company Promoters:
Mr.Jatin Dhansukhlal Suratwala and Mr. Manoj Dhansukhlal Suratwala are the promoters of the company.
Company Financials:
Summary of financial Information (Restated)| Particulars | For the year/period ended (₹ in Lakhs) |
|---|
| 31-March-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 |
| Total Assets | 5,390.82 | 4,487.52 | 3,129.14 | 2,752.49 |
| Total Revenue | 1,088.35 | 912.62 | 1,119.91 | 1,657.82 |
| Profit After Tax | 32.46 | 85.86 | 296.49 | 214.38 |
Objects of the Issue:
The company intends to utilise the proceeds of the Issue to meet the following objects:
1. To meet Working Capital requirements
2. General Corporate Purpose
3. To meet issue expenses
Suratwwala Business IPO Details
| IPO Date | Aug 3, 2020 – Aug 5, 2020 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 4,600,000 Eq Shares of ₹10
(aggregating up to ₹6.90 Cr) |
| Face Value | ₹10 per equity share |
| IPO Price | ₹15 per equity share |
| Market Lot | 8000 Shares |
| Min Order Quantity | 8000 Shares |
| Listing At | BSE SME |
| P/E (x) | 83 |
| Market Cap (₹ Cr.) | 26.01 |
Suratwwala Business IPO Tentative Date / Timetable
| Bid/Offer Opens On | Aug 3, 2020 |
| Bid/Offer Closes On | Aug 5, 2020 |
| Finalisation of Basis of Allotment | Aug 10, 2020 |
| Initiation of Refunds | Aug 11, 2020 |
| Credit of Shares to Demat Acct | Aug 12, 2020 |
| IPO Shares Listing Date | Aug 13, 2020 |
Suratwwala Business IPO Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|
| Minimum | 1 | 8000 | ₹120,000 |
| Maximum | 1 | 8000 | ₹120,000 |
Suratwwala Business IPO Promoter Holding
| Pre Issue Share Holding | 99.92% |
| Post Issue Share Holding | 73.42% |
by Ashok Kumar | Jul 23, 2020 | Shares
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Mindspace Business Parks REIT has a quality office portfolio in Mumbai, Hyderabad, Pune and Chennai. The business parks in Mumbai are Mindspace Airoli East Business Park, Mindspace Airoli West Business Park, Paradigm Mindspace Malad and The Square, BKC(2).
The properties in the Pune include Commerzone Yerwada Business Park, Gera Commerzone Kharadi Business Park and The Square, Nagar Road. The Chennai property of the company is Commerzone Porur. And, the office parks in Hydrabad are Commerzone Pocharam and Mindspace Madhapur.
The total leasable area of Mindspace Business Parks are 12.1 msf, 11.6 msf, 5.0 msf and 0.8 msf in Mumbai, Hyderabad, Pune and Chennai, respectively. With total leasable area of 29.5 msf, it is one of the largest Grade-A office portfolios in India.
The under-construction area of the company is 2.8 m sq ft. The future construction of Mindspace Business is spread across Hyderabad, Chennai, and Mumbai in a 3.6 m sq ft area.
Real Estate Investment Trust (REIT) Explained
Under the REIT Regulations Mindspace REIT has to invest a minimum of 80% of the value of its assets in completed and rent and/ or income-generating properties.
REIT Regulations also impose restrictions on certain investments including investments in vacant land, agricultural land, or mortgages other than mortgage-backed securities and assets located outside India.
As per REIT Regulations, the portfolio of the Mindspace REIT is required to be maintained for a period of minimum 3-years from the date of purchase or completion.
Real Estate Investment Trust (REIT) Explained
Competitive Strengths
1. Diversified and quality tenant base
2. Strong industry fundamentals
3. Experienced management team with KRC group support
4. Stable cash flows
Company Promoters:
Cape Trading LLP and Anbee Constructions LLP are the promoters of the company.
Company Financials:
Summary of financial Information (Restated)| Particulars | For the year/period ended (₹ in Million) |
|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 |
| Total Assets | 1,12,224 | 91,437 | 84,738 | 81,293 |
| Total Revenue | 20,262 | 16,797 | 15,022 | 14,354 |
| Profit After Tax | 5,139 | 5,154 | 1,610 | 2,313 |
Objects of the Issue:
The proceeds will be utilised towards the following objects:
1. Partial or full pre-payment or scheduled repayment of certain debt facilities of the Asset SPVs availed
from banks/financial institutions (including any accrued interest and any applicable penalties/ premium);
2. Purchase of NCRPS of MBPPL; and
3. General purposes
Mindspace REIT Details
| IPO Date | Jul 27, 2020 – Jul 29, 2020 |
| Issue Type | Book Built Issue REIT |
| Issue Size | [.] Eq Shares of ₹
(aggregating up to ₹4,500.00 Cr) |
| Fresh Issue | [.] Eq Shares of ₹
(aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | [.] Eq Shares of ₹
(aggregating up to ₹3,500.00 Cr) |
| Face Value | ₹ per equity share |
| IPO Price | ₹274 to ₹275 per equity share |
| Market Lot | 200 Shares |
| Min Order Quantity | 200 Shares |
| Listing At | BSE, NSE |
| Market Cap (₹ Cr.) | 23675 |
Mindspace REIT Tentative Date / Timetable
| Bid/Offer Opens On | Jul 27, 2020 |
| Bid/Offer Closes On | Jul 29, 2020 |
| Finalisation of Basis of Allotment | Aug 6, 2020 |
| Initiation of Refunds | Aug 7, 2020 |
| Credit of Shares to Demat Acct | Aug 7, 2020 |
| IPO Shares Listing Date | Aug 12, 2020 |
Mindspace REIT Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|
| Minimum | 1 | 200 | ₹55,000 |
| Maximum | | | |
Net Issue
- Institutional Investors: 75% of the net offer
- Non Institutional Investors: 25% of the net offer
by Ashok Kumar | Jul 11, 2020 | Investments, Shares
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Incorporated in 2009, Rossari Biotech Ltd is a manufacturer of textiles specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries by offering a diversified product portfolio. Rossari Biotech operates in 18 countries including India, Bangladesh, Vietnam, and Mauritius.
As per the F&S Report published on 30th Sept 2019, it is the largest textile specialty chemical manufacturer in India. The business of the company can be classified into three main categories which are textile specialty chemicals; animal health & nutrition products; and home, personal care & performance chemicals. The company has 1,948 different products range under these three categories.
Most of the products of the company are manufactured in-house. It has a manufacturing unit located at Silvassa, Dadra & Nagar Haveli with an installed capacity of 100,000 MTPA. The company is also setting up a manufacturing unit at Dahej in Gujarat with an installed capacity of 132,500 MTPA. Rossari Biotech also has two R&D facilities in Silvassa and Mumbai locations to focus on new product development, formulations, and cost competitiveness. It has more than 194 distributors across India and 27 distributors spread in other 17 countries.
Competitive Strengths
1. Diversified product portfolio
2. Well-known textile specialty chemical manufacturer in India
3. In-house manufacturing unit
4. Strong R&D facility
5. Pan-India distribution network
Company Promoters:
Mr. Edward Menezes and Mr. Sunil Chari are the promoters of the company.
Company Financials:
Summary of financial Information (Restated)| Particulars | For the year/period ended (₹ in Million) |
|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 |
| Total Assets | 4,715.15 | 2489.45 | 1649.50 | 1308.94 |
| Total Revenue | 6,038.18 | 5171.24 | 3004.29 | 2605.97 |
| Profit After Tax | 652.53 | 456.83 | 254.03 | 142.85 |
Objects of the Issue:
The net proceeds of the Fresh Issue, i.e. Gross proceeds of the Fresh Issue less the Offer Expenses apportioned to the Company (“Net Proceeds”) are proposed to be utilised in the following manner:
1. Repayment/prepayment of certain indebtedness availed by the Company (including accrued interest);
2. Funding working capital requirements; and
3. General corporate purposes
Rossari Biotech IPO Details
| IPO Date | Jul 13, 2020 – Jul 15, 2020 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 11,682,033 Eq Shares of ₹2
(aggregating up to ₹496.49 Cr) |
| Fresh Issue | [.] Eq Shares of ₹2
(aggregating up to ₹50.00 Cr) |
| Offer for Sale | 10,500,000 Eq Shares of ₹2
(aggregating up to ₹[.] Cr) |
| Face Value | ₹2 Per Equity Share |
| IPO Price | ₹423 to ₹425 Per Equity Share |
| Market Lot | 35 Shares |
| Min Order Quantity | 35 Shares |
| Listing At | BSE, NSE |
| P/E (x) | 33.81 |
| Market Cap (₹ Cr.) | 2207 |
Rossari Biotech IPO Tentative Date / Timetable
| Bid/Offer Opens On | Jul 13, 2020 |
| Bid/Offer Closes On | Jul 15, 2020 |
| Finalisation of Basis of Allotment | Jul 20, 2020 |
| Initiation of Refunds | Jul 21, 2020 |
| Credit of Shares to Demat Acct | Jul 22, 2020 |
| IPO Shares Listing Date | Jul 23, 2020 |
Rossari Biotech IPO Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|
| Minimum | 1 | 35 | ₹14,875 |
| Maximum | 13 | 455 | ₹193,375 |
Rossari Biotech IPO Promoter Holding
| Pre Issue Share Holding | 95.06% |
| Post Issue Share Holding | 73% |
Rossari Biotech IPO for NRI
Rossari Biotech Limited, the largest manufacturer of textile specialty chemicals in India is launching its IPO on 13th July 2020. The issue close date is 15th July 2020. The NRIs are allowed to subscribe to this IPO subject to certain rules and restrictions.
Rules and restrictions for NRI in Rossari Biotech IPO:
- NRIs can apply in IPO using ASBA form.
- The payment will be accepted only in Indian rupee or freely convertible foreign exchange.
- Eligible NRIs bidding on a repatriation basis should apply using blue colour Bid cum Application form meant for Non-Residents via the funds from the NRE or FCNR account.
- Eligible NRIs bidding on a non-repatriation basis should apply using white colour Bid cum Application Form meant for residents via the funds from the NRO account.
- Bids by Eligible NRIs for a bid amount of less than ₹200,000 would be considered under the Retail Category and the bid amount exceeding ₹200,000 would be considered under the Non-Institutional Category for the allocation purpose in the Offer.
Rossari Biotech IPO Investors Portion
- QIB: Not More than 50% of the offer
- NII: Not less than 15% of the offer
- Retail: Not less than 35% of the offer
by Ashok Kumar | Jul 11, 2020 | Shares
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Incorporated in 2003, Headquartered in Mumbai Yes Bank is a private sector bank in India. It has developed as a full-service commercial bank offering banking and technology-driven product and services to fulfill the financial needs of MSME, corporate, and retail customers.
Yes Bank provides merchant banking, investment banking, and brokerage businesses through Yes Securities. The mutual fund business of the company is handled by YES Asset Management (India) Limited, a subsidiary of Yes Bank. It has a pan-India presence across 28 states and 8 Union Territories. One representative office of the bank is also established in Abu Dhabi in March 2020. As of March 31, 2020, the bank has 1,135 branches and 1,423 ATMs. Yes Bank has presence in metro, urban, semi-urban and rural locations across India.
Product and Services:
1. Investment Banking Solutions
2. Yes First Corporate Credit Card
3. Yes Prosperity Purchase Credit Card
4. Treasury and Risk Management Solutions
5. Loans
6. Transactions Banking Solutions
7. Debt Capital Markets
8. Surplus and Investments
9. Digital Banking
After Yes Bank collapse in 2019, SBI has bought around 49% stake and became the shareholder in the company.
The bank is set to launch FPO (follow-on public offer) in the middle of this July to recover from the huge bad debt and generate funds from the share sale to enhance the capital base.
Competitive Strengths
1. Public-private ownership model
2. Strong technology backbone
3. Strong focus on retail and SME advances
4. Pan India presence
Company Promoters:
Yes Bank is professionally managed and it doesn’t have any identifiable promoter.
Company Financials:
Summary of financial Information (Restated)| Particulars | For the year/period ended (₹ in Million) |
|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 |
| Total Assets | 2,578,321.64 | 3,808,596.10 | 3,124,496.54 |
| Total Revenue | 103,350.56 | 144,879.93 | 130,323.20 |
| Profit After Tax | (164,325.80) | 17,092.66 | 42,332.20 |
Objects of the Issue:
The proposed utilisation of the net proceeds is for ensuring adequate capital to support growth and expansion, including enhancing the bank’s solvency and capital adequacy ratio.
Yes Bank FPO Details
| IPO Date | Jul 15, 2020 – Jul 17, 2020 |
| Issue Type | Book Built Issue FPO |
| Issue Size | [.] Eq Shares of ₹2
(aggregating up to ₹15,000.00 Cr) |
| Fresh Issue | [.] Eq Shares of ₹2
(aggregating up to ₹15,000.00 Cr) |
| Face Value | ₹2 Per Equity Share |
| IPO Price | ₹12 to ₹13 Per Equity Share |
| Employee Discount | ₹1 per share |
| Market Lot | 1000 Shares |
| Min Order Quantity | 1000 Shares |
| Listing At | BSE, NSE |
Yes Bank FPO Tentative Date / Timetable
| Bid/Offer Opens On | Jul 15, 2020 |
| Bid/Offer Closes On | Jul 17, 2020 |
| Finalisation of Basis of Allotment | Jul 22, 2020 |
| Initiation of Refunds | Jul 23, 2020 |
| Credit of Shares to Demat Acct | Jul 24, 2020 |
| IPO Shares Listing Date | Jul 27, 2020 |
Yes Bank FPO Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|
| Minimum | 1 | 1000 | ₹13,000 |
| Maximum | 15 | 15000 | ₹195,000 |
Note
- QIB: 50% of the net offer; NIB: 15% of the net offer; Retail: 35% of the net offer
- Employee reservation portion: ₹200 cr
- Employee discount: ₹1 per share
by Ashok Kumar | Jul 1, 2020 | Investments, Shares, Top Global News
The Corona crisis, china’s border tensions and stock market and several domestic & global reasons impacted share market. But even in such times, there are many companies whose shares have performed strongly
Cement Sector :
The cement sector is also expected to perform well. Big companies like ACC, Ultratec, Grasim should perform well. This is because when the government spends more, its thrust is on infrastructure. It is directly related to cement.
Two-Wheeler Sector :
Domestic and international sales of companies like Hero Motocorp, TVs and Bajaj Auto will increase. The stocks of these companies will perform well in the coming days.
FMCG Pharma sector :
FMCG are expected to have a strong performance of shares of Hindustan Lever, Marian, Dabur and ITC.
IT and Technology Sector :
TCS, Infosys, HCL and Mindtree are also expected to perform well in the coming days as the demand for technology products in the world is increasing.
by Ashok Kumar | Jun 29, 2020 | Investments, Shares
While the pandemic and its consequent impact on the economy, industry, and companies continue to unfold, there is merit in looking at historical data to analyse the performance of portfolios characterised by key fundamental attributes.
GROWTH (sales, EBITDA, PAT, and EPS);
RETURN (ROE, ROCE, ROOA, Delta ROE, Delta ROCE, and Delta ROOA);
MARGIN (EBITDA, EBIT, PAT, Delta EBITDA, Delta EBIT, and Delta PAT);
CASH FLOW (FCF growth and CFO & FCF yield);
FINANCIAL LEVERAGE (net debt/equity) to draw insights on how the fundamental based portfolios performed over the last 21 years (FY00 to FY20) and also how they coped with economic cycles.
The Final list of stocks is among the top 5 ranks in each market cap category that have been rated “Buy” or “Accumulate”.
Large caps: Lupin, Siemens, Info Edge, Indigo, Cipla
Mid Caps: PI Industries, IPCA Lab, Bata India, Torrent Power, Narayana Hrudayalaya
Small Caps: Strides Pharma Science, Dhanuka Agritech, V-mart Retail, Dixon Technologies, Mahindra Logistics
