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

Is it worth to apply for Prince Pipes IPO? Here are some reviews:

“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.”

“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

"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.

Following are entitled to apply in employees quota in upcoming IPO of SBI Cards Limited

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.

Prince Pipes and Fittings Limited, Mumbai based firm 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

Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on 30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad (Maharashtra).

The company is also planning to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products. The company sells the products under Prince Piping Systems brand name to 843 distributors which further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly sold to 212 wholesalers and retailers.

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

Prince Pipes and Fittings IPO would remain open between Dec 18, 2019 and Dec 20, 2019

Following is the basis of allotment for Ujjivan Small Finance Bank IPO:


Explanation of Ujjivan Small Finance Bank Allotment basis

Ujjivan Small Finance Bank IPO - Basis of Allotment essentially indicates that 400 shares will be allotted on a lottery basis as under :

• For those who applied between 400 to 3200 or for 4000 or 5200 shares, allotment will be 400 shares in the ratio 35:1102 (Chances of Allotment: 3.17%)
• For those who applied for 3600 shares, allotment will be 400 shares in the ratio 36:1135 (Chances of Allotment: 3.17%)
• For those who applied for 4400 shares, allotment will be 400 shares in the ratio 27:844 (Chance sof Allotment: 3.19%)
• For those who applied for 4800 shares, allotment will be 400 shares in the ratio 55:1727 (Chances of Allotment: 3.18%)

General rules for SBI Cards IPO Shareholder quota

1. SBI Shareholders i.e. individuals and HUFs who are equity shareholders of SBI can only apply. (The sole/ First Bidder shall be a SBI Shareholder)
   
2. Only those Bids, which are received at or above the Offer Price, would be considered for allocation under this category. To clarify,
   (a) SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the Net Offer as such Bids will be treated as multiple Bids.
   (b) Bids by SBI Shareholders in SBI Shareholders Reservation Portion (subject to Bid Amount being up to ₹200,000) and in the Employee Reservation Portion (as Eligible Employees), shall not be treated as multiple Bids
   (c) Therefore, SBI Shareholders bidding in the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid under the Net Offer and such Bids will not be treated as multiple Bids
   
3. SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the retail or employee category.
   
4. SBI Shareholders bidding in the SBI Shareholders Reservation Portion (up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid in the retail category
   
5. SBI Shareholders Bidding under the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) are entitled to Bid at the Cut-off Price.

The initial public offering of Ujjivan Small Finance Bank was subscribed 166 times on the last day of the share sale

The IPO overtook Indian Railway Catering And Tourism Corporation Ltd. as the most subscribed IPO in 2019, data on the National Stock Exchange website showed

QIB: 110.72 times
HNI: 473.00 times
Retail: 48.97 times
Shareholders: 4.13 times
Overall: 165.66 times

QIB: 0.87 times

HNI: 2.53 times

Retail: 24.51 times

Shareholders: 1.92 times

Overall: 5.00 times

Following are the details of IPO

Open: - 02-12-2019

Close: - 04-12-2019

Listing Date: - 12-12-2019

Issue Size: - ₹ 1200 Cr

Price Band: - ₹ 34 - ₹ 35 

Lot Size: - 425

Min. App: - ₹ 14,875

CSB Bank IPO is open for subscription from November 22 and the IPO has been subscribed fully.
The issue will close on November 26. Equity shares are proposed to be listed on the BSE, as well as the National Stock Exchange on December 4

Is it worth subscribing to CSB Bank IPO? Here's what expert brokerages have to say:

1. HDFC Securities Review on CSB Bank IPO

As per HDFC Securities, the bank's business and financial performance could suffer if it is unable to effectively manage the level of its NPAs.

"Although CSB Bank is making efforts to improve collections and to foreclose on existing impaired loans in a timely manner, there cannot be any assurance that it will be successful in its efforts or that the overall quality of its Bank’s loan portfolio will improve or will not deteriorate in the future," HDFC Securities said.

Issued notices and initiated various recovery proceedings against defaulting borrowers under the SARFAESI Act are also among key concerns, HDFC Securities said.


Moreover, CSB’s funding requirements are primarily met through customer deposits. If it fails to sustain or achieve growth of its deposit base, including its current and savings account deposit base, its business may be adversely affected, HDFC Securities said.


2. IndiaNivesh Review on CSB Bank IPO

IndiaNivesh recommends subscribing to CSB IPO.


"CSB Bank has seen a remarkable turnaround after the new promoter took charge of its affairs in FY19. At the upper end of the issue price, it is available at P/BV of around 2.19 times on ‘TTM’ basis. We expect CSB Bank to embark on a growth trajectory of over 20 percent on business and profitability for the next couple of years. There is ample scope for it to get re-rated at higher a multiple of 2.5 times to 2.7 times P/BV after listing," said IndiaNivesh.


3. BP Securities Review on CSB Bank IPO

BP Equities recommends subscribing to the issue.

"CSB has posted turnaround results in six months of FY20 and has improved its operational and financial performance. We believe the bank should do well with the recent capital raise and its strong risk management frameworks. We give subscribe rating to the IPO," said the brokerage firm.


"On the valuation front, at the upper end of the price band, CSB is valued at 2.31 times P/BV and 25.31 times P/E. Taking into account huge growth prospects and its comfortable asset quality, the stock looks attractive for investment," said BP Equities.

Ujjivan Small Finance Bank IPO opens for subscription from November 29, 2019

Ujjivan Small Finance Bank Limited (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country. USFB Bank is promoted by Ujjivan Financial Services Limited (UFSL) which is an NBFC providing financial services to the economically active poor, who are not served by the Financial Institutions.

UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.

USFB has a wide presence across 24 states and union territories in India. As on 30 June 2019, it has 4.72 million customers, 474 Banking Outlets, 387 ATMs, two 24/7 phone banking units (in Bengaluru and Pune) and 50 additionally operated Asset Centres

CSB Bank IPO will close on November 26 (Tuesday). The bank has priced the sale of shares at ₹193-195 apiece. The ₹410 crore offer involves a fresh issue of shares of face value ₹10 each to raise up to ₹24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell ₹385 crore of shares

The IPO was fully subscribed on the first day of its opening. shares will be listed on both BSE and NSE. The tentative date for share allotment finalization is December 02, 2019 and listing date is December 4, 2019, according to brokerages.

State-owned Mazagon Dock Shipbuilders is likely to raise Rs 500-600 crore through an initial public offer (IPO) by the end of this month, a senior company official said Wednesday. The public sector undertaking had in August last year received Sebi's go ahead to float the initial share sale.

Mazagon, a leading shipyard of the country, would see sale of over 2.24 crore equity shares, amounting to 10 percent stake of the government.

The offer will also have a portion for employees, which will not exceed 5 per cent of the post offer paid up equity share capital of the company.

The IPO is part of the government's efforts to garner Rs 80,000 crore through stake sales in state-owned companies in 2018-19.

The first SME IPO for 2019: KPI Global IPO would open for subscription from January 8, 2019. The IPO would remain open for subscription till January 11, 2019

K.P.I. Global Infrastructure Limited is a company engaged in solar power generation. The company provides solar power, both as an Independent Power Producer under the brand name of 'Solarism' and as a service provider to Captive Power Producer ("CPP") customers.

K.P.I Global builds, owns, operates and maintains grid-connected solar power projects as IPP. It generates revenue by entering into Power Purchase Agreements with third parties for selling power generated through its solar projects. It has entered into bilateral PPA's with reputed businesses such as Mafatlal Industries Limited, Best Paper Mills Private Limited and Meghmani Organics Limited.

Stay tuned for more on KPI Global Infrastructure SME IPO