November 18, 2024
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SME IPO Guidance Review Advice at a Glance
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C2C Advance IPO Review
C2C Advanced Systems Limited, formerly C2C – DB Systems Private Limited, was established in 2018 as a vertically integrated provider of defense electronics solutions. Based in India, the company specializes in developing cutting-edge, indigenously designed products for the defense sector. With expertise in C4I (Command, Control, Communications, and Intelligence) systems, AI/ML-driven big data analytics, enterprise integration of real-time data from IIoT (Industrial Internet of Things), and embedded/FPGA designs, C2C Advanced Systems is at the forefront of advancing defense technologies.
IPO Details: Size and Market Outlook
The IPO size is Rs. 99.07 crore, offering 4383,000 shares. While the size is relatively large compared to recent IPOs, the company’s strong business model and consistent growth trajectory make the IPO highly attractive. Given the “defence” term used in this IPO, the offering has the strong potential to be oversubscribed.
Strong Financial Performance and Reasonable Valuation
The company has incurred losses during 2021-22 whereas in the year prior to the IPO, it has earned net profit of Rs. 12.28 crore on the total income of Rs. 41.30 crore. The rise in the net profit in the year prior to the IPO widens the eyes. At the same time, “receivables” are on higher side. Considering these two aspects, IPO seems not to be quite attractive. However as compared to upper price band of Rs. 226, the current premium in the grey market is Rs. 220 and it may attract the investors to apply in this IPO.
+ from fundamental angle: So-so
+ from grey market angle: Attractive
Rosmerta Digital IPO Review
Rosmerta Digital Services Limited, a subsidiary of Rosmerta Technologies Limited (RTL), was founded in 2021 with the goal of providing digitally-enabled services and innovative distribution channels for automotive components and accessories. Since its establishment, the company has quickly evolved into a leading provider of integrated solutions in the automotive sector, using cutting-edge technology to streamline complex processes for Original Equipment Manufacturers (OEMs), vehicle sales companies, and consumers.
IPO Details and Market Outlook
The IPO size stands at an impressive Rs. 206.33 crore, offering 14,036,000 shares. This is a significant large offering, especially when compared to recent IPO trends. With 4,667 applications, the retail portion of the offering is expected to be subscribed once.
Strong Business Model and Financial Growth
Rosmerta Digital Services is built around a novel and scalable business model that combines technology and service innovation. Over the past year, the company has seen a sharp increase in both topline and bottomline, highlighting its strong operational growth. If the company can maintain this robust performance in the coming year, the IPO could be considered reasonably priced, given its promising financial trajectory.
Potential for High Grey Market Interest
Given the strong growth and the impressive credentials of the lead managers for this IPO, there is a high likelihood of significant grey market interest. This, coupled with the company’s unique business model and recent performance, makes the IPO an attractive investment opportunity with the potential for strong market demand.
+ from fundamental angle: May Apply
+ from grey market angle: ?
The IPO opens on 18 November and closes on 21 November 2024.
Onyx Biotec IPO Review
Onyx Biotec: A Leading Supplier of Sterile Pharmaceutical Products
Onyx Pharmaceuticals has earned a strong reputation in the healthcare sector, specializing in the production and supply of sterile pharmaceutical products. Over the years, the company has become a prominent and trusted supplier to major pharmaceutical corporations, including some of the top-tier companies across India.
IPO Details: Size and Market Outlook
The IPO size is Rs. 29.34 crore, offering 4,810,000 shares. While the size is relatively modest compared to recent IPOs, the company’s strong business model and consistent growth trajectory make the IPO highly attractive. Given the company’s robust performance and promising outlook, the offering has the strong potential to be oversubscribed.
Strong Financial Performance and Reasonable Valuation
Onyx Pharmaceuticals has demonstrated impressive and consistent growth in both topline and bottomline over the past three years, further solidifying its position in the market. With its strong financial track record and solid fundamentals, the shares are offered at a reasonable valuation, making it an appealing investment opportunity.
A Worthwhile Investment Opportunity
Even in the absence of a grey market premium, the Onyx Pharmaceuticals IPO presents a compelling case for investment. With strong growth prospects and a proven business model, this IPO is a solid opportunity for investors looking to tap into the growing pharmaceutical sector.
+ from fundamental angle: Must Apply
+ from grey market angle: Not so attractive
The IPO opens on 13 November and closes on 15 November 2024.
Mangal Compusolution IPO Review
The IPO size is Rs. 16.23 crore, offering 16.23 lakh shares. This size is relatively modest when compared to recent IPO trends. With 570 applications received, the retail portion of the offering is likely to be subscribed once.
The company has experienced a significant increase in net profit over the past two years, leading up to its Initial Public Offering (IPO). A detailed analysis of this growth is warranted. In FY 2021-22, the company reported a net profit of Rs. 87 lakhs on total income of Rs. 18.49 crore. However, in FY 2022-23, the net profit surged to Rs. 7.04 crore, accompanied by a total income of Rs. 34.83 crore. This sharp rise in profitability is noteworthy and warrants attention.
Given this substantial improvement in the company’s bottom line, the IPO appears to be reasonably priced, especially when considering the rapid growth in profit. Without this growth, the offering could have been perceived as relatively expensive.
+ from fundamental angle: May Apply
+ from grey market angle: ?
The IPO opens on 12 November and closes on 14 November 2024.
Neelam Linens IPO Review
The IPO size is Rs. 13 crore, offering 5,418,000 shares. This is relatively small compared to recent market trends. With 300 applications received, the retail portion is expected to be subscribed once.
Financial Snapshot:
Over the past two years, leading up to the IPO, the company has posted strong profits, and the offer price appears to be reasonable given its financial performance. However, it’s worth noting that the sector in which the company operates does not currently attract significant investor interest or “fancy.”
+ from fundamental angle: May Apply
+ from grey market angle: ?
The IPO opens on 8 November and closes on 12 November 2024.
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