Friday, December 20, 2019
Prince Pipes IPO closes today, subscribed 74 percent till second day
IndianIPOBlog
December 20, 2019
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The company is engaged in manufacturing of polymer pipes and fittings. The company produces four types of polymer pipes including CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC. It is operating in the polymer pipe segment under two brand names; which are Trubore and Prince Piping Systems. The company has a corporate office in Mumbai and a strong presence across North, South and West India
The IPO was subscribed by 0.68 times in QIB, 0.06 times in HNI and 1.06 times in Retail category
Thursday, December 19, 2019
Prince Pipes IPO Reviews - Is it worth applying? What do brokerage houses recommend?
IndianIPOBlog
December 19, 2019
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Is it worth to apply for Prince Pipes IPO? Here are some reviews:
Reliance Securities: Subscribe
“It has healthy return ratios with average RoE of 22 per cent and RoCE of 20 per cent for the same period. Assuming revenue growth of 13 per cent CAGR through FY19-21E, the company is valued at 14 times of FY21E earnings, which appears to be justified considering its business model, steady growth and healthy return ratios. Hence, we recommend subscribe to the issue,” Reliance Securities.
Equirus Securities: Subscribe
“Construction ban in certain areas in North India will impact near-term growth. Post anti-dumping duty on CPVC resin from China/Korea, Prince was forced to raise CPVC price higher than others and this will impact growth/profitability,” it said. However, the brokerage said that there is a chance of “one-time valuation jump to IPO investors.”
“Construction ban in certain areas in North India will impact near-term growth. Post anti-dumping duty on CPVC resin from China/Korea, Prince was forced to raise CPVC price higher than others and this will impact growth/profitability,” it said. However, the brokerage said that there is a chance of “one-time valuation jump to IPO investors.”
Investmentz (Asit C Mehta): Subcribe
“With superior product mix, established brand name, strong distribution network, and adding capacities, we believe Prince Pipes is well placed to capitalize on domestic opportunities. At the upper price band of Rs178, the stock trades at 19.22 times its FY19 EPS of Rs 9.26,” it said
Ventura Securities: Subscribe for listing gains
Ventura Securities expects revenue, Ebitda and PAT of the company to grow at a CAGR of 5 per cent, 14 per cent and 18 per cent, respectively. For FY21, the stock is available at the offer price of 177-178 at 16 times on a fully diluted basis, this brokerage estimated.
BP Wealth: Do not subscribe
Ventura Securities expects revenue, Ebitda and PAT of the company to grow at a CAGR of 5 per cent, 14 per cent and 18 per cent, respectively. For FY21, the stock is available at the offer price of 177-178 at 16 times on a fully diluted basis, this brokerage estimated.
BP Wealth: Do not subscribe
"Taking into account its debt position and the increased competitiveness of the market it operates in, the stock does not look attractive. We give ‘Avoid’ rating for the IPO,” it said.
Wednesday, December 18, 2019
Prince Pipes IPO subscribed 28 percent on first day
IndianIPOBlog
December 18, 2019
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Prince Pipes IPO has received a scant response on first day with the IPO getting bids of upto 0.28 times
Detailed subscription status given below:
QIB: 0.05xH
HNI 0.03x
Retail: 0.52x
Overall: 0.28 times
The details of utilization of the proceeds of the Fresh Issue are summarized below:
1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws
PPF Scheme 2019 introduced - 3 key things you should know
IndianIPOBlog
December 18, 2019
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PPF Scheme 1968 allowed deposits to be made in multiples of 5. A maximum of 12 deposits were permitted in a period of 1 year
PPF Scheme 2019 changes this rule to allow deposits in multiples of ₹50. No upper limit on number of deposits has been specified.
The requirement of minimum annual contribution of ₹500 and the maximum annual contribution of ₹1.5 lakh have been retained, as is.
👉🏻 Interest rate on loan
If you took a loan against your PPF Account, the PPF Scheme 1968 laid down an interest rate of 2% per annum above the prevailing PPF interest rate. Thus for example, if the PPF interest rate was 8%, you would have to pay an interest rate of 10%.
PPF Scheme 2019 has reduced this rate to 1%. Hence if the PPF interest rate is 8%, you would have to pay a rate of 9% if you take a loan against PPF
👉🏻 Premature closure
In the PPF Scheme, 2019, premature closure is allowed after the completion of 5 financial years after the end of the year in which the account is opened, as was the case previously. However a special form, Form 5 has been created under PPF Scheme, 2019 for this purpose.
Earlier the Government had allowed premature closure of the PPF account on grounds of serious ailments or life threatening diseases affecting the account holder, spouse, dependent children or parents. This has been retained.
A second ground of premature closure allowed earlier was higher education of the account holder. This has been extended to higher education of the account holder or dependent children. However production of documents and fee bills in confirmation of admission in a recognized institute of higher education in India or abroad is mandatory
The PPF Scheme, 2019 has introduced a third ground of premature closure, namely, a change in the residency status of account holder.
As was the case previously as well, premature closure means you get interest lower by one percent than the rate at which interest has been credited to the account.
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Tuesday, December 17, 2019
SBI Cards IPO Employees Quota - Eligibility for applying in employees quota
IndianIPOBlog
December 17, 2019
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Eligibility Rules
- A permanent employee of SBI Cards or SBI, working in India or outside India (excluding employees who are not eligible to invest in the Offer under laws).
- A whole-time or part-time Director of SBI Cards who is eligible to apply under the Employee Reservation Portion on the date of filing of the RHP and who continues to be a Director of SBI Cards, until the submission of the Bid cum Application Form.
- SBI Retired Employees are not eligible to apply in SBI Cards IPO under employee quota
- Eligible Employees should mention their employee number at the relevant place in the Bid cum Application Form.
- Directors who directly or indirectly, hold more than 10% of the outstanding Equity Shares in SBI Cards are not eligible to apply.
Allocation Rules in SBI Employees Category
If total demand in the employee category is less than or equal to 1,864,669 Equity Shares (total shares allocated to employees) at or above the Offer Price, the full allocation shall be made to the Eligible Employees.
In case of an under-subscription in the Employee Reservation Portion, the unsubscribed shares may be allocated on a proportionate basis to employees bidding in excess of ₹200,000. However, the total allotment in under-subscription, as well as over-subscription, will not exceed ₹ 500,000
Prince Pipes IPO - Closing, Allotment and Listing schedule (Tentative)
IndianIPOBlog
December 17, 2019
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| Bid/Offer Opens On | Dec 18, 2019 |
| Bid/Offer Closes On | Dec 20, 2019 |
| Finalisation of Basis of Allotment | Dec 26, 2019 |
| Initiation of Refunds | Dec 27, 2019 |
| Credit of Shares to Demat Acct | Dec 30, 2019 |
| IPO Shares Listing Date | Dec 31, 2019 |
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