Sah Polymers IPO Review 2022 – GMP, Strengths, & More!

Sah Polymers IPO Review: Sah Polymers Limited is coming up with its Initial Public Offering. The IPO will open for subscription on December 30th, 2022, and close on January 4th, 2023. It is looking to raise Rs 66.30 Crores, the whole of which will be a Fresh Issue. In this article, we will look at the Sah Polymers IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Sah Polymers IPO Review

About The Company

Sah Polymers Limited is primarily engaged in the manufacturing and selling of Polypropylene (PP), High-Density Polyethylene (HDPE) FIBC Bags, and other woven polymer-based products of different weights, sizes, and colors as per customer’s specifications.

The company offers customized bulk packaging solutions to various industries that include Agro Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food Products Industry, Textile Industry Ceramic Industry, and Steel Industry. 

It has a presence in 6 states and 1 union territory in India. In addition to that, the company internationally supplied its products in Africa, the Middle East, Europe, the USA, Australia, and the Caribbean.

Products of the company

The product portfolio of the company includes:

• FIBC (Flexible intermediate bulk container)
• Container Bag
• Garden bags/wastage bags
• Woven sacks
• PP Fabric
• Ground covers
• Spiral tubing
• Box bags
• PP Woven Fabric Rolls

The competitors of the company

(Source: DRHP of the company)

Financial Highlights

(Source: DRHP of the company)

Sah Polymers IPO Review – Industry Overview

The packaging industry is the 5th largest sector of India’s economy. The industry has reported steady growth over the past several years and shows high potential for expansion, particularly in the export market.  The country majorly exports flattened cans, printed sheets and components, crown cork, lug caps, plastic film laminates, craft paper, paper boards, and packaging machinery. Going forward, the Indian Packaging Market was valued at USD 50.5 billion in 2019, and it is expected to reach USD 204.81 billion by 2025, registering a CAGR of 26.7% during the period of 2020-2025.

Strengths

• The company has a strong and diversified product portfolio.
• The company not only has a strong domestic but also an international presence.
• The company is led by a strong management team.

Weaknesses

• The company requires a constant supply of raw materials for its operations. Any disruptions can adversely affect the business.
• The company requires significant amounts of working capital. Any failure to meet its requirements can disrupt its operations.
• The promoters and directors along with the company are involved in certain litigations related to criminal, civil and tax proceedings.
• The introduction of alternative packaging materials caused by changes in technology or consumer preferences can severely affect the business.
• The company is subject to certain risks that include Foreign exchange fluctuations and disruption in their plant by employees.

Sah Polymers IPO Review – GMP

The shares of Sah Polymers traded at a premium of 6.15% in the grey market on December 27th, 2022. The shares tarded at Rs 69. This gives it a premium of Rs 4 per share over the cap price of Rs 65. 

Key IPO Information

Promoters: SAT Industries Limited

Book Running Lead Managers: Pantomath Capital Advisors Private Limited

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹66.30 Crore
Fresh Issue	₹66.30 Crore
Offer for Sale (OFS)	-
Opening date	December 30, 2022
Closing date	January 4, 2023
Face Value	₹10 per share
Price Band	₹61 to ₹65 per share
Lot Size	230 Shares
Minimum Lot Size	1 (230 Shares)
Maximum Lot Size	13 (2990 Shares)
Listing Date	January 12, 2023

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for:

• Setting up a new manufacturing facility to manufacture Flexible Intermediate Bulk Containers (FIBC).
• Repayment/ Prepayment of certain secured and unsecured borrowings in full or part availed by the Company and its Subsidiaries.
• Funding the working capital requirements.
• General corporate purposes.

In Closing

In this article, we looked at the details of Sah Polymers IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can also use our Trade Brains Screener to find the best stocks.

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Landmark Cars IPO Review – GMP, Strengths, & More!

Landmark Cars IPO Review: Landmark Cars Limited is set to drive its way into the Indian stock exchanges. The IPO of Landmark Cars Limited will open for subscription on December 13th, 2022, and close on December 15th, 2022. It is looking to raise Rs 552 Crores, of which Rs 150 Crores will be a fresh issue and the remaining Rs 402 Crores will be an Offer for Sale. In this article, we will look at the Landmark Cars IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Landmark Cars IPO Review – About The Company

Landmark Cars Limited, incorporated in 1998, is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault. In addition to that, the company also caters to the commercial vehicle retail business of Ashok Leyland in India.

The company stands as the number one dealer of Mercedes-Benz, Honda, and Stellantis (Jeep) in terms of sales volume in the Fiscal year 2021. In addition, it stood as the third-largest dealer of Renault in 2020.

The company also provides after-sales services and has authorized service centers for Mercedes-Benz, Honda, Volkswagen, Jeep, Renault, and Ashok Leyland.

The company caters to the entire customer value chain including retailing new vehicles, servicing and repairing vehicles, selling spare parts, lubricants, and other products, selling pre-owned passenger vehicles, and distributing third-party finance and insurance products.

It has a  dealership network is spread across 31 cities in eight states and union territories including Maharashtra, Uttar Pradesh, Gujarat, Haryana, Madhya Pradesh, Punjab, West Bengal, and the National Capital Territory of Delhi.

The competitors of the company

There are no listed entities in India whose business portfolio is comparable with that of the company’s business.

Landmark Cars IPO Review – Financial Highlights

(Source: DRHP of the company)

Landmark Cars IPO Review – Industry Overview

The Indian passenger vehicle industry can be broadly classified into three main segments, namely, mass market vehicles, premium vehicles, and luxury vehicles.

According to the CRISIL Report, in Fiscal 2016, mass-market vehicles dominated the Indian premium vehicles (PV) industry with more than 60% market share. In the last five years, the premium vehicles segment has grown at a healthy 8% CAGR, expanding its contribution from 38% in Fiscal 2016 to 56% in Fiscal 2021. 

On the other hand, mass-market vehicle sales contracted at a CAGR of 7%, with its market share decreasing from 62% in Fiscal 2016 to 44% in Fiscal 2021.

Mercedes-Benz continues to dominate the luxury cars market in recent years. In Fiscal 2021, Mercedes Benz has a 44% market share in the Indian luxury vehicles segment, followed by BMW with a 36% market share, in value terms, according to the CRISIL Report. The ultra-luxury brands like Ferrari, Rolls Royce, and Lamborghini form an insignificant part of this overall market.

The premium automobile segment is expected to grow at a CAGR of 10-12% from Fiscal 2021 to Fiscal 2026, while the luxury segment is expected to grow at a CAGR of 20-22% during the same period, according to CRISIL Research report.

Strengths

• It is a leading automotive dealer for major OEMs with a strong focus on high-growth segments in India.
• The company is rapidly growing its after-sales business which is set to increase its revenue and profit margins.
• The company has a comprehensive business model capturing the entire customer value chain.
• The company is technologically advanced which helps them in reducing costs and increasing efficiency and thus improving margins.
• The company is set to foray into the rapidly expanding Electric Vehicle (EV) market.

Weaknesses

• The company is subject to the influence or restrictions imposed by any of the OEMs in terms of dealership or agency agreements which may affect their operations.
• The business of the company is sensitive to factors such as the rate of inflation, and currency exchange rates.
• The company operates in a competitive landscape. Thus, the increasing participation of companies through online and offline marketing can affect their business.
• The company has been making losses for the last two years.
• The auto industry is set to experience rapid changes in the next few years as there will be an increase in ridesharing/hailing services, advances in electric vehicle production, and driverless technology which might hinder the operations of the company, if not adapted to such changes.

Landmark Cars IPO Review – GMP

The shares of Landmark Cars Limited traded at a premium of 5.93% in the grey market on December 12th, 2022. The shares tarded at Rs 536. This gives it a premium of Rs 30 per share over the cap price of Rs 506. 

Landmark Cars IPO Review – Key IPO Information

Promoters:  Sanjay Karsandas Thakker

Book Running Lead Managers: Axis Capital Limited and ICICI Securities Limited.

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹552 Crore
Fresh Issue	₹150 Crore
Offer for Sale (OFS)	₹402 Crore
Opening date	December 13, 2022
Closing date	December 15, 2022
Face Value	₹5 per share
Price Band	₹481 to ₹506 per share
Lot Size	29 Shares
Minimum Lot Size	1 (29 Shares)
Maximum Lot Size	13 (377 Shares)
Listing Date	December 23, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized:

• Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company
• General corporate purposes

In Closing

In this article, we looked at the details of Landmark Cars IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can also use our Trade Brains Stock Screener to find the best stocks.

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Sula Vineyards IPO Review – GMP, Strengths, & More!

Sula Vineyards IPO Review: India’s most popular wine brand Sula is coming up with its Initial Public Offering. The IPO of Sula Vineyards Limited will open for subscription on December 12th, 2022, and close on December 14th, 2022. It is looking to raise Rs 960.35 Crores, the whole of which will be an offer for sale.

In this article, we will look at the Sula Vineyards IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Sula Vineyards IPO Review – About The Company

Sula Vineyards Limited stands as India’s largest wine producer and seller as of March 31, 2021. The company is a market leader in the Indian wine industry in terms of sales volume and value and holds around  52.6% share as of Fiscal 2021.

The company is not only a leader across its variants that ranged from red, white and sparkling wines but also across segments such as ‘Elite’ (INR 950+), ‘Premium’ (INR 700-950), ‘Economy’ (INR 400-700) and ‘Popular’ (<INR 400).

The company owns the flagship brand “Sula,” along with other popular brands that include “RASA,” “Dindori”, “The source,” “Satori”, “Madera” and “Dia”.

The wine company has a presence in n 25 states and six union territories in India and n over 20 countries, including Spain, France, Japan, the United Kingdom, and the United States.

Business verticals of the company

Wine Business: Production of wine, the import of wines and spirits, and the distribution of wines and spirits.

Wine Tourism Business: The sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms.

competitors of the company

Sula Vineyards IPO Review – Financial Highlights

Sula Vineyards IPO Review – Industry Overview

India is one of the fastest-growing alcoholic beverage markets in the world, growing from a small base of 1.3 liters per capita of recorded consumption in 2005 to 2.7 liters in 2010.

However, India’s per capita consumption of wine is less than 100 ml. The contribution of wine to overall alcohol consumption in India is less than 1% against the world average of close to 13%.

Despite this, the Indian wine industry is growing at a much quicker pace at 18.3% by value between FY 2014 to FY 2019. Further, it is projected to grow to 3.4 million cases, from the current 2 million cases, by FY 2025 with a CAGR of more than 14% in volume.

Indian alco-beverage market is the third largest market in the world after China and the USA by volume in terms of the actual alcohol content of alco-beverages in CY 2020. It is further projected to grow at 11% per annum in value terms for the period between 2021 to 2025. 

Strengths

• The wine market in India will remain concentrated and thus have high barriers to entry.
• The company is an established market leader in the Indian wine industry with the leading brand “Sula”.
• It is the largest wine producer in India with the widest and most innovative product offering.
• The company has the largest wine distribution network and sales presence in the country.
• The company is a  pioneer of wine tourism in India, which has led to a strong D2C presence.

Weaknesses

• The legal, regulatory, and policy environment in which they operate is evolving and subject to change.
• The company stands to benefit largely from the current high import duties on international wines. Any changes in the rates will affect the business.
• The products of the company are highly reliable in the taste and preference of the company. Any changes in the trends will negatively impact their business.
• The wine industry in India is seasonal. In addition to that, the wine tourism business is also cyclical in nature and thus can result in fluctuations in cash flow for the company.
• The company is subject to various risks such as technological risks and foreign exchange risks.

Sula Vineyards IPO Review – GMP

The shares of Sula Vineyards Limited traded at a premium of 9.52% in the grey market on December 8th, 2022. The shares tarded at Rs 391. This gives it a premium of Rs 34 per share over the cap price of Rs 357. 

Sula Vineyards IPO Review – Key IPO Information

Promoters: Rajeev Samant

Book Running Lead Managers: CLSA India Private Limited, IIFL Securities Limited, and Kotak Mahindra Capital Company Limited.

Registrar To The Offer: KFin Technologies Limited

Particulars	Details
IPO Size	₹960.35 Crore
Fresh Issue	-
Offer for Sale (OFS)	₹960.35 Crore
Opening date	December 12, 2022
Closing date	December 14, 2022
Face Value	₹2 per share
Price Band	₹340 to ₹357 per share
Lot Size	42 Shares
Minimum Lot Size	1 (42 Shares)
Maximum Lot Size	13 (546 Shares)
Listing Date	December 22, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized:

• To carry out the Offer for Sale of up to 25,546,186 Equity Shares by the Selling Shareholders.
• To achieve the benefits of listing the Equity Shares on the Stock Exchanges.

In Closing

In this article, we looked at the details of Sula Vineyards IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can also use our Trade Brains Screener to find the best stocks.

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Dharmaj Crop Guard IPO Review 2022 – GMP, Strengths, & More!

Dharmaj Crop Guard IPO Review: Dharmaj Crop Guard Limited is coming up with its Initial Public Offering. The IPO will open for subscription on November 28th, 2022, and close on November 30th, 2022. It is looking to raise Rs 251.15 crore, out of which Rs 216 crore will be a fresh issue and the rest Rs 35.15 crore will be an Offer for Sale. 

In this article, we will look at the Dharmaj Crop Guard IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Dharmaj Crop Guard IPO Review – About The Company

Dharmaj Crop Guard is an agrochemical company that is engaged in the business of manufacturing, distributing, and marketing a wide range of chemicals. Its products include insecticides, fungicides, herbicides, plant growth regulators, micro fertilizers, and antibiotics that are supplied to B2C and B2B customers.

Their products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.

The company has a strong international presence as it exports its products to more than 20 countries including Latin America, East African Countries, the Middle East, and Far East Asia.

Some of the key customers of the company include Atul Limited, Heranba Industries Limited, Innovative, Meghmani Industries Limited, Bharat Rasayan Limited, and Oasis Limited.

In addition to that, the company manufactures and sells general insect and pest control chemicals for Public Health protection such as crop protection solutions to the farmers.

The product portfolio of the company

• Insecticides: Their top branded products include Padgham, Lubrio, Nilaayan, Dahaad, Prudhar, and Remora amongst others.
• Fungicides: Their top branded products include Gagandip, Sajaag, Lokraj, Rishmat, and Kaviraj amongst others.
• Herbicides: Their top branded products include Dharozar, Aatmaj, Rodular, Dharolik, Kohha, Kawayat Super, and Sadavirum amongst others.
• Plant growth regulator: Their top branded products include Rujuta, Greenoka, and Stabilizer amongst others.
• Micro Fertilizers: Their top branded products include Zeekasulf, Aakuko, Thandaj, and Zusta amongst others
• Antibiotic: They sell brand products namely Retardo.

The competitors of the company

(Source: DRHP of the company)

Dharmaj Crop Guard IPO Review – Financial Highlights

(Source: DRHP of the company)

Dharmaj Crop Guard IPO Review – Industry Overview

The Indian pesticide industry is primarily divided into Insecticides, Fungicides, and Herbicides. Insecticides account for a major share of around 55% followed by herbicides and fungicides with an approximate share of 23% and 18%, respectively.

In the global agrochemicals market, India is the 4th largest producer led by the USA, Japan, and China. Along with that, India has also emerged as the 13th largest exporter of pesticides globally.

According to  Company Commissioned CareEdge Report, the overall Indian pesticides, and other agrochemicals market grew at a CAGR of 4.5% from Rs.368 billion in 2013-14 to Rs.439 billion in 2017-18. 

Moving forward, the industry is expected to grow at a CAGR of 5.2%-5.7% by 2023-24 on account of an upward growth expected in the international market and a likely increase in domestic usage of pesticides in India.

Strengths

• The company has a strong and diversified product portfolio.
• The company has been able to develop strong distribution channels and stable relationships with its customers over the years.
• The company has a strong Research and Development (“R&D”) facility with a focus on innovation and sustainability. 
• The company is led by experienced Promoters and a management team.
• The company has strong and effective branding, promotional, and digital strength.

Weaknesses

• The company is subject to strict technical specifications, quality requirements, regular inspections, and audits by the government and its customers. Any deviation will lead to a negative impact on their reputation.
• The nature of the business is cyclical as the sale of its products is subject to seasonal variations and climatic conditions.
• New-age pest management and crop protection measures, such as organic farming, biotechnology products, pest-resistant seeds, or genetically modified crops can be an emerging threat to their product.
• The products of the company can be hazardous to its worker’s health and the environment. Thus, it is subject to stringent regulations, deviation from which could attract hefty fines.
• The company has certain outstanding litigation proceedings against them, their promoters, and their Directors.

Dharmaj Crop Guard IPO Review – GMP

The shares of Dharmaj Crop Guard traded at a premium of 18.99% in the grey market on November 24th, 2022. The shares tarded at Rs 282. This gives it a premium of Rs 45 per share over the cap price of Rs 237. 

Dharmaj Crop Guard IPO Review – Key IPO Information

Promoters: Rameshbhai Ravajibhai Talavia, Jaman Kumar Hansrajbhai Talavia, Jagdishbhai Ravjibhai Savaliya, and Vishal Domadia.

Book Running Lead Managers: Elara Capital (India) Private Limited and Monarch Networth Capital Limited. 

Registrar To The Offer: Link Intime India Private Limited.

Particulars	Details
IPO Size	₹251.15 Crore
Fresh Issue	₹216 Crore
Offer for Sale (OFS)	₹35.15 Crore
Opening date	November 28, 2022
Closing date	November 30, 2022
Face Value	₹10 per share
Price Band	₹216 to ₹237 per share
Lot Size	60 Shares
Minimum Lot Size	1(60 Shares)
Maximum Lot Size	14 (840 Shares)
Listing Date	December 8, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for:

• Funding capital expenditure towards setting up a manufacturing facility at Saykha Bharuch, Gujarat.
• Funding incremental working capital requirements.
• Repayment and/or pre-payment, in full and/or part, of certain borrowings.
• General corporate purposes.

In Closing

In this article, we looked at the details of Dharmaj Crop Guard IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favorite stocks.

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Inox Green Energy IPO Review 2022 – GMP, Strengths, & More!

Inox Green Energy IPO Review: Inox Green Energy Services Limited is set to be listed on the Indian exchanges. The IPO will open for subscription on November 11th, 2022, and close on November 15th, 2022. It is looking to raise Rs 740 Crores, out of which Rs 370 crores will be a fresh issue and the remaining Rs 370 Crores will be an offer for sale.

In this article, we will look at the Inox Green Energy IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Inox Green Energy IPO Review – About The Company

Inox Green Energy Services Limited is a subsidiary of Inox Wind Limited. It is one of the major wind power operation and maintenance (“O&M”) service providers within India.

The company is engaged in the business of providing long-term O&M services for wind farm projects, specifically the provision of O&M services for wind turbine generators (WTGs).

The company also offers a variety of services including wind resource assessment, site acquisition, infrastructure development, and EPC of WTGs, along with providing long-term O&M services for wind power projects.

The competitors of the company

There are no listed companies in India that are comparable in all aspects of business and services that Inox Green Energy Services provide.

Inox Green Energy IPO Review – Financial Highlights

Inox Green Energy IPO Review – Industry Overview

According to the International Energy Agency (“IEA”), India is the third largest energy-consuming country in the world and has become one of the largest sources of energy demand growth globally.

CRISIL Research expects the energy required to grow at 3.0-4.0% CAGR over fiscal 2022 to 2026 after a minor decline of 1.2% in fiscal 2021 on account of the economic downturn induced by the COVID-19 outbreak. 

Recently, Prime Minister Modi made a commitment at the COP26 global climate summit held in Glasgow in November 2021 to have 50% of India’s power generated by renewable energy by 2030 and for India to achieve carbon neutrality by 2070.

Thus, the growth prospects of the wind sector in India are promising with capacity additions of 18-20 GW expected over the next five years which would entail investments of approximately ₹1.4 trillion over the period (Source: CRISIL Report). 

Strengths

• The company has a strong, wide, and diverse existing portfolio base.
• The company is engaged in the green energy business and thus has favorable national policy support.
• The company is supported and promoted by its parent company Inox Wind Limited, which already has a strong presence in the industry.
• The company has a strong established relationship with its suppliers. 
• The company has a reliable cash flow supported by long-term O&M contracts with high-credit quality counterparties.

Weaknesses

• The company is subject to risks such as Technology failures or advancements that could disrupt its operations.
• There are outstanding legal proceedings involving the Company, its Subsidiaries, Directors, Promoter, and Group Companies.
• The demand for their services is primarily dependent on the demand for electricity in India. Any changes will affect the business.
• The wind energy projects in the country are still resisted by the people which can be a threat to the company’s business.
• The company is exposed to multiple competitive factors like the performance of WTGs, reliability, product quality, technology, price, scope and quality of services, and training offered to customers.

Inox Green Energy IPO Review – GMP

The shares of Inox Green Energy traded at a premium of 13.85% in the grey market on November 10th, 2022. The shares tarded at Rs 74. This gives it a premium of Rs 9 per share over the cap price of Rs 65.

Inox Green Energy IPO Review – Key Market Information

Promoters: Inox Wind Limited

Book Running Lead Managers: Edelweiss Financial Services Limited, DAM Capital Advisors Limited, Equirus Capital Private Limited, IDBI Capital Markets & Securities, and Systematix Corporate Services Limited.

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹740 Crore
Fresh Issue	₹370 Crore
Offer for Sale (OFS)	₹370 Crore
Opening date	November 11, 2022
Closing date	November 15, 2022
Face Value	₹10 per share
Price Band	₹61 to ₹65 per share
Lot Size	230 Shares
Minimum Lot Size	1 (230 Shares)
Maximum Lot Size	13 (2990 Shares)
Listing Date	November 23, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for:

• Repayment and/or pre-payment, in full or part, of certain borrowings, availed by the company including redemption of Non-Convertible Debentures in full.
• General corporate purposes.

In Closing

In this article, we looked at the details of Inox Green Energy IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favorite stocks

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Kaynes Technology IPO Review – GMP, Strengths, & More!

Kaynes Technology IPO Review: Kaynes Technology India Limited is coming up with its Initial Public Offering. The IPO will open for subscription on November 10th, 2022, and close on November 14th, 2022. It is looking to raise Rs 857.82 Crores, out of which Rs 530 crores will be a fresh issue and the remaining Rs 327.82 Crores will be an offer for sale.

In this article, we will look at the Kaynes Technology IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

Kaynes Technology IPO Review – About The Company

Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (“ESDM”) services.

It is engaged in providing conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defense, outer space, nuclear, medical, railways, Internet of Things (“IoT”), Information Technology (“IT”), and other segments.

It is among the first companies in India to offer design-led electronics manufacturing for original equipment manufacturers (“OEMs”).

Key business verticals of the company

OEM – Turnkey Solutions – Box Build (“OEM – Box Build”): They are into “Build To Print” or “Build to Specifications” of complex box builds, sub-systems, and products across various industry verticals.

OEM – Turnkey Solutions – Printed Circuit Board Assemblies (“PCBAs”) (“OEM – Turnkey Solutions”): They undertake turnkey electronics manufacturing services of PCBAs, cable harnesses, magnetics, and plastics ranging from prototyping to product realization including mass manufacturing.

ODM:  It provides IoT solutions for making smart consumer appliances or devices IoT-connected such as smart metering technology, smart street lighting, brushless DC (“BLDC”) technology, inverter technology, and gallium nitride-based charging technology.

Product Engineering and IoT Solutions: They have a portfolio of hardware, software accelerators, and proprietary sensors along with cloud platform-based service and solution offerings in asset tracking, remote device management, and smart product development.

The competitors of the company

Kaynes Technology IPO Review- Financial Highlights

Kaynes Technology IPO Review – Industry Overview

The global electronics system design and manufacturing services market (“ESDM”) was estimated at USD 804 billion in 2020 and is expected to reach USD 1,002 billion in 2025 at a growth rate of 4.5%.

Electronics is one of the fastest-growing industries in India. The total electronics market in India is valued at ₹ 6,711 billion (USD 91 billion) in Fiscal 2021, which is expected to grow at a CAGR of 25.5% to reach ₹ 20,873 billion (USD 282 billion) in Fiscal 2026.

The total ESDM market in India was valued at ₹ 2,654 billion (USD 36 Billion) in Fiscal 2021 and is expected to grow to ₹ 9,963 Billion (USD 135 Billion) in Fiscal 2026 at a CAGR of 30.3%. 

Strengths

• It is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing player in India.
• The company has a wide-ranging product portfolio having applications across industry verticals that ensure consistent revenue inflow.
• They have long-standing relationships with marquee customers that include names like Hitachi Rail STS India Pvt Ltd, Siemens Rail Automation Pvt Ltd, and Tonbo Imaging India Pvt Ltd among others.
• The company has advanced infrastructure across multiple facilities in India along with Global certifications for each industry vertical catered by them.
• They have a strong supply chain and sourcing network in both domestic and international markets.

Weaknesses

• The company is subject to strict quality requirements, customer inspections, and audits. Any failure to comply with them will negatively impact the business.
• The company has significant working capital requirements. Any changes in the cash flow situation will affect their operations.
• The company follows Customer-driven pricing. Any reductions will affect the profitability margins of the company.
• The business of the company is manpower intensive which makes it subject to risks such as labor unrest or slowdowns. Along with that, it is also exposed to Technological risks, Credit risks, and currency fluctuations.
• The nature of the business is seasonal. Therefore, the results of their operations may not be comparable across all quarters.

Kaynes Technology  IPO Review – GMP

The shares of Kaynes Technology traded at a premium of 2.21% in the grey market on November 9th, 2022. The shares tarded at Rs 600. This gives it a premium of Rs 13 per share over the cap price of Rs 587. 

Kaynes Technology – Key IPO Information

Promoters: Ramesh Kunhikannan, Savitha Ramesh, and RK Family Trust.

Book Running Lead Managers: IIFL Securities Limited and DAM Capital Advisors Limited.

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹857.82 Crore
Fresh Issue	₹530 Crore
Offer for Sale (OFS)	₹327.82 Crore
Opening date	November 10, 2022
Closing date	November 14, 2022
Face Value	₹10 per share
Price Band	₹559 to ₹587 per share
Lot Size	25 Shares
Minimum Lot Size	1 (25 Shares)
Maximum Lot Size	13 (325 Shares)
Listing Date	November 22, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for:

• Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
• Funding capital expenditure toward the expansion of their existing manufacturing facility at Mysore, Karnataka, and near the existing manufacturing facility at Manesar, Haryana.
• Investment in their Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka.
• Funding working capital requirements of the Company.
• General corporate purposes.

In Closing

In this article, we looked at the details of Kaynes Technology IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favorite stocks.

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Archean Chemical Industries IPO Review – GMP, Strengths, & More!

Archean Chemical Industries IPO Review: Archean Chemical Industries Limited is coming up with its Initial Public Offering. The IPO will open for subscription on November 9th, 2022, and close on November 11th, 2022.

It is looking to raise Rs 1,462.31 Crores, out of which Rs 805 crores will be a fresh issue and the remaining Rs 657.31 Crores will be an offer for sale. In this article, we will look at the Archean Chemical Industries IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out! 

Archean Chemical Industries IPO Review – About The Company

Archean Chemical Industries is a leading specialty marine chemical manufacturer in India that is focused on producing and exporting bromine, industrial salt, and sulfate of potash to customers around the world.

The company has marketed its products to 13 global customers in 13 countries along with 29 domestic customers.

The products of the company are used in industries that include pharmaceuticals, agrochemicals, water treatment, flame retardant, additives, oil & gas, and energy storage batteries.

The product portfolio of the company

(Source: DRHP of the company)

The competitors of the company

(Source: DRHP of the company)

Archean Chemical Industries IPO Review – Financial Highlights

(Source: DRHP of the company)

Archean Chemical Industries IPO Review – Industry Overview

Between 2015-2020, the Indian specialty chemicals segment grew faster than the Indian commodity chemicals segment (10.4% vs. 8.7%). In the next five years,  the Indian specialty chemicals segment is expected to grow at a CAGR of 11.2%.

To boost the industry further, the government has allowed 100% Foreign Direct Investment (FDI). According to the Company Commissioned F&S Report, total FDI inflow in the chemicals (other than fertilizers) sector in India reached US$17.77 billion between April 2000 and June 2020.

According to the Company Commissioned F&S Report, with abundant resources, India’s bromine capacity has developed rapidly, from 20,000 MT in the year 2008 to 60,000 MT in the year 2020. 

In the year 2020, India ranked 6th globally in the export of industrial salt. As per the same report, the global industrial salt industry will grow at a CAGR of 2.8% from 157 million MT in 2020 to 185 million MT in 2025.

The overall Sulphate of Potash (SOP) market in India was approximately 55,757 MT in Fiscal 2020. According to the Company Commissioned F&S Report, the growth in SOP in India is expected to follow the global trend of approximately 6% until the year 2025.

Strengths of the Company

• The company was the largest exporter of bromine and industrial salt in India in Fiscal 2021.
• The company has a competitive advantage as the industry in which it operates has high entry barriers.
• The company has made huge capital expenditures to build integrated manufacturing sites that have proven to be cost-effective for the company.
• The company has an Experienced management team, promoters, financial investors, and stakeholders.
• The company has a history of strong and consistent financial performance.

Weaknesses of the Company

• Bromine and certain raw materials used by the company are hazardous in nature. Thus, it has an inherent operational risk.
• The company is subject to extensive safety, health, environmental, and labor laws.
• Since the company has an extensive presence in the international markets it is subject to exchange rate fluctuations.
• The company is dependent on third-party transportation and logistics service providers. Any disruptions can affect the business.
• The company does not own any patents and its logo is not registered as a trademark. Therefore, protecting intellectual property is crucial to the success of their business.

Archean Chemical Industries IPO Review – GMP

The shares of Archean Chemical Industries traded at a premium of 14.74% in the grey market on November 7th, 2022. The shares tarded at Rs 467. This gives it a premium of Rs 60 per share over the cap price of Rs 407. 

Archean Chemical Industries – Key IPO Information

Promoters: Chemikas Speciality LLP, Ravi Pendurthi, and Ranjit Pendurthi.

Book Running Lead Managers: JM Financial Limited, ICICI Securities Limited, and IIFL Securities Limited.

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹1,462.31 Crore
Fresh Issue	₹805 Crore
Offer for Sale (OFS)	₹657.31 Crore
Opening date	November 9, 2022
Closing date	November 11, 2022
Face Value	₹2 per share
Price Band	₹386 to ₹407 per share
Lot Size	36 Shares
Minimum Lot Size	1 (36 Shares)
Maximum Lot Size	13 (468 shares)
Listing Date	November 21, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for:

• Redemption or earlier redemption, in part or full, of NCDs issued by the company; and
• General corporate purposes

In Closing

In this article, we looked at the details of Archean Chemical Industries IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favorite stocks

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DCX Systems Limited IPO Review 2022 – GMP, Strengths, & More!

DCX Systems Limited IPO Review: DCX Systems Limited is coming up with its Initial Public Offering. The IPO will open for subscription on October 31st, 2022, and close on November 2nd, 2022. It is looking to raise Rs. 500 Crores out of which Rs. 400 Crores will be a fresh issue and the rest Rs. 100 Crores will be an offer for sale.

In this article, we will look at the DCX Systems IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out!

DCX Systems IPO Review – About The Company

DCX Systems Limited is among the leading Indian players in the manufacture of electronic sub-systems and cable harnesses in terms of manufacturing capability and revenue in Fiscal 2021.

The company is primarily engaged in system integration and manufacturing of a comprehensive array of cables and wire harness assemblies. In addition to that, it is also involved in kitting.

Some of the customers of the company include names like Bharat Electronics Limited, Alpha Design Technologies Private Limited, Alpha Elsec Defence and Aerospace Systems Private Limited, and Centum Adeno India Private Limited.

The business verticals of the company include:

System Integration: The company provides product assembly and system integration services for various complexities to address customers’ requirements. They also provide product repair support.

Cable and Wire Harness Assemblies: They manufacture a comprehensive array of cables and wire harnesses assemblies such as radio frequency cables, co-axial, mixed-signal, power, and data cables for a variety of uses including communication systems, sensors, surveillance systems, missile systems, military armored vehicles, and other electronic warfare systems for the aerospace and defense industries.

Kitting: The company supplies assembly-ready kits of electronic and electro-mechanical parts and undertakes all aspects of procurement including sourcing components from suppliers.

The competitors of the company are:

• Data Patterns Private Limited
• Astra Microwave Products Limited
• Centum Electronics Limited
• Bharat Electronics Limited
• Paras Defence and Space Technologies Limited

DCX Systems IPO Review – Financial Highlights

(Source: DRHP of the company)

DCX Systems IPO Review – Industry Overview

The defense manufacturing industry in India is an integral segment of the country’s economy. To date, India has been among the top importers of defense equipment. However, the massive focus on ‘Make in India’ is set to change this.

Recent initiatives like an increase in foreign direct investment (“FDI”) in the Indian defense sector from the current 49% to 74% under the automatic route are anticipated to be key drivers and growth opportunities for the market.

The Indian aerospace and defense sector is poised to attain a value of USD 70 billion by 2030. While the Indian Defence segment plans to achieve a turnover of ₹ 1.75 trillion and exports worth ₹ 35,000 million are aimed by the year 2025. 

Strengths of the Company

• The company is one of the preferred Indian Offset Partners for the defense and aerospace industry with global accreditations.
• The company has a Strategically located advanced and modern manufacturing facility at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru, Karnataka.
• It has established strong relationships with its existing customers over the years and is also looking to penetrate into new geographies.
• The company is well-positioned in the industry with consistently good performance over the years.
• The company is led by Experienced and qualified Promoters and a senior management team.

Weaknesses of the Company

• A significant portion of their revenue from operations is generated from the offset defense contracts. Any changes can affect the business.
• It is highly dependent on the performance of the electronic subsystems market. Any changes in the conditions can adversely impact their business.
• The company is exposed to risks such as foreign currency fluctuations.
• The company operates in a highly competitive market with factors such as rapid technological change, the development of new end products, their rapid obsolescence, and evolving industry standards.
• The company has high debt on its balance sheet and thus a high debt-to-equity ratio.

DCX Systems IPO Review- Grey Market Information

The shares of DCX Systems traded at a premium of 38.65% in the grey market on October 27th, 2022. The shares tarded at Rs 287. This gives it a premium of Rs 80 per share over the cap price of Rs 207.

DCX Systems IPO Review- Key IPO Information

Promoters: Dr. H.S. Raghavendra Rao, Ncbg Holdings Inc., and Vng Technology Private Limited

Book Running Lead Managers: Edelweiss Financial Services Limited, Axis Capital Limited, and Saffron Capital Advisors Private Limited

Registrar To The Offer: Link Intime India Private Limited

Particulars	Details
IPO Size	₹ 500 Cr
Fresh Issue	₹ 400 Cr
Offer for Sale (OFS)	₹ 100 Cr
Opening date	October 31, 2022
Closing date	November 2, 2022
Face Value	₹ 2 per share
Price Band	₹ 197 to ₹ 207 per share
Lot Size	72 Shares
Minimum Lot Size	1 (72 shares)
Maximum Lot Size	13 (936 shares)
Listing Date	November 11, 2022

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for: 

• Repayment/ prepayment, in full or part, of certain borrowings availed of by the Company.
• Funding working capital requirements.
• Investment in their wholly-owned Subsidiary, Raneal Advanced Systems Private Limited, to fund its capital expenditure expenses.
• General corporate purposes

In Closing

In this article, we looked at the details of DCX Systems Limited IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favorite stocks.

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Electronics Mart India IPO Review 2022 – GMP, Strengths, & More!

Electronics Mart India Limited is coming up with its Initial Public Offering. The IPO will open for subscription on October 4th, 2022, and close on October 7th, 2022. It is looking to raise Rs. 500 Crores which will be a fresh issue. In this article, we will look at the Electronics Mart India IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out! 

Electronics Mart India IPO Review – About The Company

Electronics Mart India Ltd (EMIL) started its operations in the year 1980. Today it stands as one of the fastest growing consumer durable & electronics retailers in India.

It is a multi-brand consumer durable and electronics retailer dealing in home entertainment, mobiles, laptop, home appliances, cameras, kitchen appliances, and personal care.

The company has a focus on large appliances such as air conditioners, televisions, washing machines, and refrigerators, along with mobiles and small appliances, and IT, among others. Their offering includes more than 6,000 SKUs (stock keeping units) across product categories from more than 70 consumer durable and electronic brands. 

As of August 2021, the company has a total of 99 stores out of which 8 are owned, 85 stores are under the long-term lease rental model and the rest 6 are partly owned and partly leased.   

The company operated majorly in three ways:

Retail: The company runs 85 Multi Brand Outlets (MBOs) under the name “Bajaj Electronics”,  1 MBO under the name “Tirupati Electronics” and 2 specialized stores under the name “Kitchen Stories” to meet the demands of its customers.

Wholesale: The company is also engaged in the wholesale business of consumer durables, where we supply products to single-shop retailers in Andhra Pradesh and Telangana regions.

E-Commerce: Their current e-commerce website functions as a catalogue for the products they sell at their stores. 

Electronics Mart India IPO Review – Financial Highlights

(Source: DRHP of the company)

Electronics Mart India  IPO Review – Competitors

• Reliance Industries (Reliance Retail)
• Tata Group (Croma)
• Vijay Sales
• Aditya Vision
• Sargam
• Girias
• Adishwar

Electronics Mart India  IPO Review – Industry Overview

India’s retail industry clocked a healthy 9.5% compound annual growth rate between fiscals 2016 and 2020, backed by rising urbanization, nuclearisation, increased disposable incomes, and improving affordability and consumer sentiment.

CRISIL Research has estimated that the size of India’s consumer durables industry, including large consumer durables mobile phones, and smaller appliances, was at Rs 2.4 trillion as of fiscal 2021.

The organized segment’s share in the consumer durables market is expected to rise from 58% in fiscal 2021 to 76- 78% by fiscal 2026. Meanwhile, the unorganized players also saw a rise in their share in Q1FY22.

Strengths of the Company

• The company is the largest in the South and the 4th largest overall in the consumer durable and electronics retail segment in terms of revenue.
• The company is increasing its market presence and geographic reach with cluster-based expansion.
• The company has a diversified product portfolio that caters to the needs of its customers from all areas.
• The company has ensured robust customer service support, timely delivery of its products & quick installation support.
• It has an experienced management team with a proven track record.

Weaknesses of the Company

• The company is dependent on external suppliers for its product requirements. Any delay in procurement can disrupt operations.
• A large portion of their total revenue is dependent on a smaller segment of their total products.
• There are certain legal proceedings involving the company and its promoters.
• The company operated in a highly competitive industry. Any new or existing player can prove to be a threat to the company.
• The company is exposed to certain risks such as cyber security threats, seasonal and cyclical volatility, and changes in taxation laws.

Electronics Mart India IPO Review- Key IPO Information

Particulars	Details
IPO Size	₹500 Crores
Fresh Issue	₹500 Crores
Offer for Sale (OFS)	-
Opening date	October 4, 2022
Closing date	October 7, 2022
Face Value	₹10 per share
Price Band	₹56 to ₹59 per share
Lot Size	254 Shares
Minimum Lot Size	1 (254 shares)
Maximum Lot Size	13 (3302 shares)
Listing Date	October 17, 2022

Promoters:  Pavan Kumar Bajaj and Karan Bajaj

Book Running Lead Managers: Anand Rathi Advisors Limited, JM Financial Limited, and  IIFL Securities Limited 

Registrar To The Offer: KFin Technologies Private Limited

The Objective of the Issue

The Net Proceeds from the Fresh Issue are proposed to be utilized for: 

• Funding of capital expenditure for expansion and opening of stores and warehouses.
• Funding incremental working capital requirements.
• Repayment/prepayment, in full or part, of all or certain borrowings availed by the Company.
• General Corporate Purposes

In Closing

In this article, we looked at the details of Electronics Mart India  IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for the investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

You can now get the latest updates in the stock market on Trade Brains News and you can even use our Trade Brains Portal for fundamental analysis of your favourite stocks.

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