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SME IPO Review

RBM Infracon IPO Review

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RBM Infracon IPO Review

Issue Details

RBM Infracon IPO Review | It is a SME IPO of 2,325,000 equity shares of the face value of ₹10 aggregating up to ₹8.37 Crores. The issue is priced at ₹36 per share. 

A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000). And HNI (Min) is 2 lot of 6,000 shares at the price of ₹216,000. 

The IPO opens on Dec 23, 2022, and closes on Dec 27, 2022. Listing Date is on Jan 4, 2023 

The Company  Pre Issue Share Holding is 100% and Post Issue Share Holding is 99.99%.

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Company Background

RBM Infracon IPO | Company is primarily engaged in engineering, execution, testing, commissioning, operating & maintenance of mechanical and rotary equipment for oil & gas refineries, cement, fertilizers, Petrochemicals, Coal/Gas based power plants, etc.

Its key business services include Fabrication & Erection of structural work, Fabrication & Erection of Piping, ARC maintenance, Turnaround, blasting & painting, Insulation and Refractory, Electrical and Instrumentation, NDT services, and others.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹35.16 Cr with a net profit of ₹-0.12 Cr in FY20. ₹38.89 Cr. with a net profit of ₹-1.33 Cr. in FY21 and ₹47.63 Cr. with a net profit of ₹1.91 Cr. in FY22.

Talking about the EPS of the company, the company has posted a weighted average EPS of ₹0.79 for the last 3 years.

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Summary of Financial Statement

Profit & Loss Account

RBM Infracon IPO Profit and Loss

EPS (Earnings Per Shares)

RBM Infracon IPO EPS

RoNW

RBM Infracon IPO RoNW

Listed Peers

RBM Infracon IPO Listed Peers

Conclusion

RBM Infracon IPO Review | Recent results have been below expectations, but the IPO price seems fair. A letter of intent for a 3-year labour contract from a Vedanta group firm and an order of Rs. 121 cr. Investors having an excess of cash can think about parking their funds for the long term.

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SME IPO Review

Chaman Metallics IPO Review (NSE SME)

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Chaman Metallics IPO Review

Issue Details

Chaman Metallics IPO Review | It is a SME IPO of 6,372,000 equity shares of the face value of ₹10 aggregating up to ₹24.21 Crores. The issue is priced at ₹38 per share. The minimum order quantity is 3000 Shares.

A retail-individual investor can apply for up to 1 lots (3000 shares or ₹114,000). And B-HNI (Min) is 2 lot of 6,000 shares at the price of ₹228,000

The IPO opens on Jan 4, 2023, and closes on Jan 6, 2023. And listing Date is on Jan 16, 2023

The Company  Pre Issue Share Holding is 100.00% and Post Issue Share Holding is 73.60%.

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Company Background

Chaman Metallics IPO | Incorporated in 2003, Chaman Metallics Limited is primarily engaged in the business of manufacturing and selling of Direct Reduced Iron (i.e. sponge iron). Sponge iron is mainly used as a raw material for making steel in electric arc furnaces and induction furnaces.

Chaman Metallics has been granted ISO 9001:2015 for its superior management systems, ISO 14001:2015 for environmental management systems, and ISO 45001:2018 for occupational health and safety management system proficiency.

The company sell its products primarily in the state of Maharashtra, Odisha and Chhattisgarh. Some of the company’s customers include Rajesh Steel & Wire Industries (New), R.K. Steel Sales, SMW Ispat Pvt Ltd, Gajkesari Steels & Alloys Pvt. Ltd etc.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹140.75 Cr with a net profit of ₹5.23 Cr in FY21 till 31-Mar-22 and, ₹185.46 Cr. with a net profit of ₹9.34 Cr. in FY21 till 30-Jun-22.

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Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Conclusion

The company makes and sells sponge iron, which is a very competitive market with many big players. Based on the most recent financial information, the price of the issue is very good. Investors might think about a long-term or medium-term investment.

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SME IPO Review

Eastern Logica IPO review (BSE SME)

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Eastern Logica IPO Review

Issue Details

Eastern Logica IPO review | It is a SME IPO of 753,000 equity shares of the face value of ₹10 aggregating up to ₹16.94 Crores. The issue is priced at ₹225 per share. 

A retail-individual investor can apply for up to 1 lots (600 shares or ₹135,000). And HNI (Min) is 2 lot of 1,200 shares at the price of ₹270,000

The IPO opens on Jan 5, 2023, and closes on Jan 9, 2023. And Listing is on Jan 17, 2023

The Company  Pre Issue Share Holding is 100.00% and Post Issue Share Holding is 73.59%.

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Company Background

Eastern Logica Infoway IPO | Incorporated in 1995, Eastern Logica Infoway Limited is engaged in the business of multi-brand retail and retail selling. They also operate as a distributor of branded smartphones, IT hardware, software and allied accessories and services.

Another domain that Eastern Logica Infoway captures is providing networking and security solutions to the end customers. The company has built a strong presence in the market in the 25 years of its operations.

Eastern Logica Infoway has spread its operations in different parts of India and has established 4 offices, 11 retail stores, 2 distribution centres and virtual offices across 11 cities in the Country. They operate on a lease rental model with a focus on securing retail spaces, ensuring high visibility and easy accessibility to customers.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹44.72 Cr with a net profit of ₹2.33 Cr in FY21 till 31-Mar-22 and, ₹61.55 Cr. with a net profit of ₹2.85Cr. in FY21 till 30-Jun-22.

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Summary of Financial Statement

Profit & Loss Account

EPS (Earnings Per Shares)

RoNW

Conclusion

The company sells and distributes many different brands, which is a very competitive business. Even though its top line grew, its margins are being squeezed. From what we know about its finances so far, the issue seems to be priced too high. A small amount of paid-up equity capital after an IPO means that the company will take longer to move to the mainboard. There’s no reason to make this expensive bet.

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SME IPO Review

Moxsh Overseas Educon IPO Review

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Moxsh Overseas Educon IPO Review

Issue Details

Moxsh Overseas Educon IPO Review | It is a SME IPO of 680,800 equity shares of the face value of ₹10 aggregating up to ₹10.42 Crores. The issue is priced at ₹153 per share. 

A retail-individual investor can apply for up to 1 lots (800 shares or ₹122,400). And B-HNI (Min) is 2 lot of 1,600 shares at the price of ₹244,800

The IPO opens on Dec 21, 2022, and closes on Dec 23, 2022. And listing date is on Jan 2, 2023

The Company  Pre Issue Share Holding is 88.49% and Post Issue Share Holding is 61.61%.

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Company Background

Moxsh Overseas Educon IPO Review | Incorporated in 2018, is an Edu-Medi Tech company engaged in the business of offering learning solutions, counselling and mobility services to medical studies (MBBS) students in India or abroad under our brand “MOKSH” (‘ student mobility services’).

The company offers following services:

1. Student Mobility Services: 

2. Healthcare Academy

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The company has a presence across 23 touch points in India, of which we have a presence in 18 cities through franchisee arrangements and with the registered and branch offices in 5 cities viz Mumbai, Pune, Delhi, Bhopal and Ahmedabad.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹10.10 Cr with a net profit of ₹1.11 Cr in FY21 till 31-Mar-22 and, ₹0.17 Cr. with a net profit of ₹0.17 Cr. in FY21 till 30-Jun-22.

 Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Conclusion

The market the corporation operates in is quite cutthroat. Its current profitability levels do not justify the asking price. The issue is priced very cheaply in relation to its earnings. A smaller share base after an IPO suggests a longer transition time to the big leagues. Avoiding this expensive problem is perfectly acceptable.

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SME IPO Review

Homesfy Realty IPO Review

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Homesfy Realty IPO Review

Issue Details

Homesfy Realty IPO Review | It is a SME IPO of 805,200 equity shares of the face value of ₹10 aggregating up to ₹15.86 Crores. The issue is price at ₹197 per share.

A retail-individual investor can apply for up to 1 lots (600 shares or ₹118,200). And B-HNI (Min) is 2 lot of 1,200 shares at the price of ₹236,400

The IPO opens on Dec 21, 2022, and closes on Dec 23, 2022. AND Listing date is on Jan 2, 2023

Company Background

Homesfy Realty IPO Review | Incorporate in 2011, is Proptech engaged in providing real estate broking services to Real Estate Developers, retail buyers/sellers and investors for residential properties.

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The company runs its brokerage business in the name of Homesfy and is well-partner with the mymagnet.io co-broking platform.

Company has 7 offices in Mumbai, Pune, Noida, and Bangalore that handle sales, marketing, and payment collection.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹11.93 Cr. with a net profit of ₹0.92 Cr. in FY20, ₹14.76 Cr. with a net profit of ₹1.99 Cr. in FY21 and ₹30.40 Cr. with a net profit of ₹3.18 Cr. in FY22.

For the last three fiscal years, the company’s weighted average EPS was ₹481.62.

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Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Conclusion

Homesfy Realty IPO Review | The company provides marketing and advising services to the real estate industry using an asset-light business model. In this state, it is not engaged in any building work. It takes more time for a company with a limited equity base post-IPO to mature enough to move to the mainboard. If you have a lot of cash on hand or are really knowledgeable about investing, you might want to consider this IPO. (Apply)

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SME IPO Review

Arihant Academy IPO Review

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Arihant Academy IPO Review

Issue Details

Arihant Academy IPO (Review) is a SME IPO of 1,635,200 equity shares of the face value of ₹10 aggregating upto ₹14.72 Crores. The issue is priced at ₹90 per share. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹144,000). & S-HNI (Min) of 2 lots is 3,200 at a price of 3,200. 

The IPO opens on Dec 16, 2022, & closes on Dec 21, 2022 & listing date is on Dec 29, 2022. 

The Company  Pre Issue Share Holding is 100% and Post Issue Share Holding is 73.00%.

Company Background

Arihant Academy Limited (IPO Review) incorporate in 2007, is engage in providing coaching services and parallel educational support verticals. The company offers services in the western suburbs of Mumbai, Maharashtra for Class 8, 9 and 10 for both State Board and ICSE Board; Class 11 and 12 for the commerce and science section; tutoring students in the science field for entrance exams such as JEE (Main), JEE (Advanced) and MHT- CET (State level), NEET (National Level), MHT- CET (State Level, Maharashtra) and preparing students for professional exams such as CS and CA for the entry-level and second level exam, in the commerce section.

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The company has managed to develop a base in the coaching classes sector by setting up 8 branches at the time of taking over the business of the M/s. Arihant Academy to 14 branches across all the sections. Arihant Academy Limited caters to around 6,000 students from these 14 coaching centres.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹19.21 Cr with a net profit of ₹0.42 Cr in FY20. ₹14.09 Cr. with a net profit of ₹1.13 Cr. in FY21 and ₹15.31 Cr. with a net profit of ₹2.02 Cr. in FY22.

Talking about the EPS of the company, the company has posted a weighted average EPS of ₹3.29 for the last 3 years.

Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Listed Peers

Conclusion

The company works in a segment that is very competitive and has many different players. Based on how well it did financially, the price of the issue seems to be right. Concerns are raised about how margins that have been reported for the last 18 months can be kept up. Those with a lot of cash and a willingness to take risks may want to consider a long-term investment.

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SME IPO Review

Dollex Agro IPO review

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Dollex Agrotech IPO Review

Issue Details

Dollex Agro IPO (Review) is a SME IPO of 6,968,000 equity shares of the face value of ₹10 aggregating up to ₹24.39 Crores. The issue is price at Rs. 35 per share. 

A retail-individual investor can apply for up to 1 lots (4000 shares or ₹140,000).  S-HNI (Min) is 2 lot of 8,000 shares at the price of ₹280,000

The IPO opens on Dec 15, 2022, and closes on Dec 20, 2022. And listing date is on Dec 28, 2022

Company Background

Dollex Agro Limited (IPO Review) incorporated in 2013, is engaged in the business of manufacturing & trading sugar with captive power cogeneration capabilities.

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The company also produce and sells its by-products such as mollases, pressed and bagasse. The bagasse is use to generate power. Further, the company is engaged in power generation up to the captive power of 3 MW.

Dollex Agrotech Limited has achieved a turnover of Rs. 7,940.11 Lakhs and a Profit after tax of Rs. 326.90 Lakhs in the Financial year 2021-2022.

The company’s product portfolio includes Jaggery powder, Sugar, Molasses, Bagasse, Press mud, and Pharma-grade Sugar.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹25.90 Cr with a net profit of ₹0.58 Cr in FY20, ₹77.48 Cr. with a net profit of ₹1.67 Cr. in FY21 and ₹79.62 Cr. with a net profit of ₹3.27 Cr. in FY22.

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Talking about the EPS of the company, the company has posted a weighted average EPS of ₹1.19 for the last 3 fiscal years.

Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Listed Peers

Conclusion 

DAL produces and distributes sugar and other related products, and it also makes its own electricity. Government policies on sugar and ethanol will help the company do well in the future. Based on how the money has been doing so far, the issue is priced at its full value. Investors with a lot of cash and a lot of knowledge might think about a long-term investment

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SME IPO Review

Uma Converter IPO review

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Uma Converter IPO Review

Issue Details

Uma Converter IPO (Review) is SME IPO of 5,580,000 shares of the face value of ₹10 aggregating upto ₹18.41 Crores. The issue is price at ₹33 per share. A retail-individual investor can apply for upto 1 lots quantity is 4000 Shares at a price of ₹132,000 & S-HNI (Min) is 2 lot of 8,000 shares at a price of ₹264,000.

The IPO opens on Dec 15, 2022, & closes on Dec 21, 2022 & listing date is on Dec 29, 2022. 

The Company  Pre Issue Share Holding is 95.002% and Post Issue Share Holding is 68.86%

Company Background

Uma Converter Limited (IPO Review) establish in 2000, is engage in manufacturing flexible packaging material. Product portfolio includes multi-colour pouches, stand-up pouches, zip-lock pouches, vacuum pouches, paper bags, e-commerce bags, etc.

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They are also engage in manufacturing & carrying out various printing & lamination processes for third parties on a job-work basis.

The company has also executed a service agreement with Ambuja Cements Limited for the disposal of plastic waste in an environmentally friendly manner in the cement kiln process at high temperatures and long residence time, while simultaneously manufacturing cement of desired quality.

Uma Converter Limited manufactures packaging material suitable for packaging products manufactured in the food and beverage industry, e-commerce industry, pharmaceutical industry, hygiene and personal care industry, household industry and agricultural industry.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹103.98 Cr with a net profit of ₹2.81 Cr in FY20, ₹159.11 Cr. with a net profit of ₹4.45 Cr. in FY21 and ₹187.20 Cr. with a net profit of ₹4.94 Cr. in FY22.

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Talking about the EPS of the company, the company has posted a weighted average EPS of ₹18.24 for the last 3 fiscal years.

Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Listed Peers

Conclusion 

The market segment the company operates in is extremely cut up and competitive. The future of profit margins is cause for concern. The IPO seems to be fairly priced, and increased issue costs could be an indicator of heightened security in the IPO’s financing structure. If you want to avoid this IPO, you can.

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SME IPO Review

All E Technologies IPO Review

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All E Technologies IPO Review

Issue Details

All E Technologies IPO (Review) is a SME IPO of 5,355,200 equity shares of the face value of ₹10 aggregating up to ₹48.20 Crores. The issue is priced at ₹87 to ₹90 per share. The minimum order quantity is 1600 Shares.

The IPO opens on Dec 9, 2022, and closes on Dec 13, 2022. 

The Listing Date is on Dec 21, 2022

Company Background

All E Technologies Limited (IPO Review) incorporated in 2000, is a Microsoft Business Applications & Digital Transformation company. Alletec helps clients stay ahead with Intelligent Business Applications. The company offers Microsoft Dynamics 365, Power Platform, Data & AI – powered by Microsoft Azure & Collaboration platforms.

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The company help in bringing together – Company & Customers, Factory & Field Service, Store Front & Supply Chain, Patients & Providers, People & Governments – by putting in place integrated operational systems of ERP, CRM, Collaboration Portals, Mobile Apps, and enable businesses to draw actionable insights from data.

All E Technologies Limited also provide offshore technology services to some large Microsoft Business Applications partners from the USA and Europe. The company’s 100% workforce shifted to a work-from-home model after the Covid restrictions. The company’s primary physical office is in Noida.

The company has a total of 330 employees.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹55.29 Cr with a net profit of ₹1.79 Cr in FY20, ₹63.28 Cr. with a net profit of ₹9.72 Cr. in FY21 and ₹72.34 Cr. with a net profit of ₹8.22 Cr. in the FY22

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Talking about the EPS of the company, the company has posted a weighted average EPS of ₹5.68 for the last 3 fiscal years.

Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Listed Peers

Conclusion

AETL is a gold Microsoft partner and has a niche play that makes it almost the only company in its field. Based on its recent earnings, the price of the issue is a good deal. Investors might think about a long-term or medium-term investment.

Review by IPO INFO – Investors may consider applying for the medium to long-term rewards.

Read Full IPO Details Here – All E Technologies IPO

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SME IPO Review

Gargi Fashion Jewellery IPO Review

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PNGS Gargi Fashion Jewellery IPO Review

Issue Details

PNGS Gargi Fashion Jewellery (IPO Review) is a SME IPO with 2,600,000 equity shares with a face value of 10 each, which adds up to 7.80 Crores. The price per share is 30 pounds. The minimum number of shares you can order is 4000.

The IPO starts trading on December 8, 2022, and ends on December 13, 2022.

The company pre Issue ShareHolding is 100% and Post Issue Share Holding is 73%.

Company Background

PNGS Gargi Fashion Jewellery (IPO) incorporated in 2009, PNGS Gargi Fashion Jewellery Limited is engaged in the retail business of costume and fashion jewellery under the brand name “Gargi by P. N. Gadgil & Sons” launched in 2021 under the artificial jewellery segment.

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The company deals in 92.5% certified sterling silver jewellery and brass jewellery, idols and other silverware and related gift items. PNGS Gargi Fashion Jewellery Limited offer a wide range of products from artificial jewellery segment for special occasions such as weddings and festivals to daily-wear jewellery for all ages, genders and across various price points.

The company have an extensive product list which includes earrings, necklaces, pendants, chains, finger rings, bracelets, anklets, nose pins, mangal sutra, pendant sets, bangles in brass or silver for females of age groups as well as male accessories such as rings, cufflinks, button set, that cater to our customers taste, preference, choice and the ever-changing trends in the chain and jewellery designs.

The company has an agreement with P.N. Gadgil & Sons Limited and P. N. Gadgil Art & Culture Foundation includes providing with security guards to all the stores, 24 hours a day where our POS Counters are present.

Company financial Details

Talking about the financials of the company tho the company has posted a turnover of ₹5.94 Cr with a net profit of ₹1.10 Cr in FY 20 & ₹11.89 Cr. with a net profit of ₹2.13 till the month of 30-Sep-22..

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Summary of Financial Statement

Profit & Loss Account

EPS (Earning Per Shares)

RoNW

Conlusion

Gargi Fashion Jewellery (IPO Review) works in a segment that is very competitive and has a lot of different companies. Concerns are raised about how margins that have been reported for the last 18 months can be kept up. Based on its recent great earnings, the price of the stock is attractive, but the key is for it to keep doing well in the future. People with a lot of cash and a willingness to take risks may want to invest in this IPO.

Review – Investors may consider applying for the medium to long-term rewards.

Read Full IPO Details Here – Gargi Fashion Jewellery IPO

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SME IPO Review

Arham Technologies IPO Review

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Arham Technologies IPO Review

ABOUT COMPANY

The company Arham Technologies Limited (IPO Review), which was founded in 2013, makes LED Smart TVs. Under the brand name “STARSHINE,” the company makes LED TVs with different-sized screens. The company also has other companies make Fans, Air Coolers, and Mixer Grinders for them.

Arham Technologies Limited makes LED TVs under the “OEM” business model, which stands for “Original Equipment Manufacturer.” The company makes and sells products based on what its customers want. The customers then sell these products under their own brands.

From China and Hongkong, we get things like open cells, Electronic Circuits (Mainboard), cabinets, and Back Light Units (BLU). Other accessories, like speakers, stands, and so on, are purchase from Indian suppliers.

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The company is in the new Smart City of Raipur, which is one of the first smart cities in India. Odisha, Andhra Pradesh, Telangana, Maharashtra, and Madhya Pradesh are the seven states that Chhattisgarh shares a border with. This gives Uttar Pradesh and Jharkhand direct access to the market.

ISSUE DETAILS

Arham Technologies’ initial public offering (IPO) is a SME IPO made up of 2,280,000 equity shares with a face value of 10 each, which adds up to 9.58 Crores. The price of share is set at 42. The minimum number of shares you can order is 3000.

The IPO starts trading on December 5, 2022, and ends on December 7, 2022.

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The company IPO Pre Issue Shareholding 100.00% and Post Issue Shareholding 73.05%.

Company financial Details

The revenue/profit from operations for Fiscals 2020, 2021, and 2021 and March 2022 was Rs 13.79Cr/ Rs 0.56 Cr, Rs 22.80/Rs 2.04. Cr, and Rs 37.27Cr/Rs 3.02 Cr respectively.

Conclusion

ATL works in a segment that is split up and have a lot of competition. Based on how well it has done financially so far, the price of the issue seems to be right. A big worry is how margins can be keep up in the future. Investors with a lot of cash and a willingness to take risks might want to buy this fully priced issue.

Review – Investors may consider applying in Arham Technologies Limited (IPO Review) for the medium to long-term rewards.

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