SME IPO of P. E. Analytics ltd

Listing Analysis : The scrip on 5th April got listed at Rs. 170( compared to issue price of Rs. 114)(gain of Rs. 56 on listing) and then showed intraday high of  Rs. 176.90 and low of Rs. 160.10.

Grey Market Trend
On 5 April 2022
Allotted Application Rates# :
Buyers @ 55000 ( per share rate Rs. Rs 45.83)
Sellers @ Rs. 65000 ( per share rate Rs. 54.17)
GMP Rates :  No trades

Subscription Trend 
On 25.3.2022 @ 5.00 pm
QIB (50%) 1386,000 : 13.22 T
NII (15%) 415,800 Sh : 126.40 T
RII (35%) 970200 Sh : 59.20 T
Tot (100%) 2772,000 Sh : 46.34 T

IPO Opens on 22 March 2022
IPO Closes on 25 March 2022
Allotment tentatively on  3 April 2022
Listing tentatively on : 5  April 2022
Listing on NSE SME
Net Issue to the Public : 27,72,000 Shares
IPO size  Rs. 31.60 Crore
Retail Quota : 35%  eg 970200 Shares
Price Band ( FV Rs. 10) of Rs. 111 to 114
Min Order Quantity : 1200 Shares
Retail Min Application : 1200 Shares/ Rs. 136800 

Business :

The Company is engaged in providing proprietary Real Estate Business Intelligence and Analytics platform on B2B business model to various users such as Developers, construction industry, Investors, Banks, Housing finance companies, Equity research Insurers, HNIs, Lenders and Investors in real estate. Due to company’s in depth research, authentic data base and years of experience, unbiased and credible data, the company has quickly largest and most comprehensive Business Intelligence platform for real estate in India. The company provides authenticate real estate data, analytics and market research reports available on various formats and pricing on annual subscription basis and ad hoc reports as per requirement of users. The products are considered as a premier Business Intelligence product The principal business lines are characterised by their marke India footprint and potential for long-term growth. In order to capitalize on the opportunities available to it and to drive long-term value.

Its proprietary database, covers pan India footprint across 44 cities, real estate data covering more than data 180 points over 13 years and over 156 months on month data base. It has coverage of over 42,000 developers, over 1,36,000 projects in India and over 97,00,000 units. While the transparency of the Real estate markets and availability of information varies greatly by cities and markets, the team at P.E. Analytics works hard to capture all relevant information possible. Accuracy in Data collection in an opaque real estate market such as India is a function of team competency and size, methodology, coverage and most importantly investment. P.E. Analytics has already made investments of the highest scale in terms of capital and resources to ensure that the quality of intelligence that reaches our clients is accurate, decisive and directional.

Promoters:

Mr. Samir Jasuja

Objects of the Issue:

1) Expenditure for Technological up-gradation.
2) Retail Initiative (B2C Expansion plan)

Registered office :

P. E. Analytics Limited
D-4 Commercial Complex,
Paschimi Margvasant Vihar,
New Delhi-1110057

Lead Manager:

Sarthi Capital Advisors Private Limited

Chanakya’s Observations : 

P. E. Analytics SME IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 365.44
Earnings per Share 2020-21,Rs 2083.43
Earnings per Share 2021-22 6 M Rs 1360.23
Return on Net Worth: 19-20 30.43 %
Return on Net Worth: 20-21: 19.60 %
Return on Net Worth: 21-22 6 M : 13.28 %
Book Value of the Share as on 31.3.22 Rs 8376.75
( The company issued bonus shares on Feb 1, 2022 and hence the figures above , we believe are irrelevant)
IPO Peer Comparison:
Latent View Analytics @ PE Multiple of 70.47

Observation : The Company is engaged in providing proprietary Real Estate Business Intelligence and Analytics platform on B2B business mode. However the management has large bonus issue and hence the data related to EPS,RoNW and Book value as given in DRHP is irrelevant and misleading. Based on the net profits  of Rs. 410 lac divided by number of shares after bonus (eg 90301040 shares)  the EPS for  first 6 months is recalculated at just 45 paisa and accordingly the offer price of Rs. 114  seems to be very costly.

# This is only coverage of News related to Grey Market . We donot deal in Grey market premium or Subject to rates, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

Past Trend
On 31 March 2022 @ 7.00 pm Rs. 40000
On 30 March 2022 @ 7.00 pm Rs. 33000
On 29 March 2022 @ 7.00 pm Rs.13000