SME IPO of  Sunrise Efficient Marketing Ltd

Grey Market Trend News :
On 6 April 2022
Subject to Rates# :  nil
GMP Rates :  – nil
Past Trend details at the bottom

Subscription Trend on 5.4.2022 @ 5.00 pm

NII (50%) 651,000 Sh : 1.78 T
RII (50%) 651,000 Sh : 1.13 T
Tot 1302,000 Sh : 1.46 T

IPO Opens on 30 March 2022
IPO Closes on 05 April 2022
Allotment tentatively on  8 April 2022
Listing tentatively on : 13  April 2022
Listing on BSE SME
Net Issue to the Public : 1302,000 Shares
( net of Market Maker portion)
IPO size  Rs. 15.75 Crore
Retail Quota : 50 %  eg ? Shares
Retail one time  : ? Applications
Price Band ( FV Rs. 10) of Rs. 121
Min Order Quantity : 1000 Shares
Retail Min Application : 1000 Shares/ Rs. 121,000 

Business :

The Company is in the distribution business of Automation, Drive, Gear Box, Motors, Pumps, Oils and
FMCG Products and aids to manage complete supply chain right from the manufacturers and end user.
Currently, it is authorized dealer of 138 manufacturers. Its business model helpsto spread its market
risks arising out of fluctuation in the market shares of various brands besides helping us to achieve
economies of scale. It follows B2B and B2C business model. The focus is to capture a considerable market share in each of the product categories.

Promoters:

Mr. Lejas Hemantrai Desai

Objects of the Issue:

Meeting incremental working capital requirements

Registered office :

Sub Plot No. 2, block B, Akash Bhumi Complex, Village Surat, Gujarat
Company Secretary and Compliance Officer: Manish Vaghela

Lead Manager:

Fedex Securities Pvt Ltd

Observations & Guidance by Paresh Gordhandas ( Research Analyst) : 

SME IPO Financial & Analytical Ratios#
# the company has issued 13,98,618 Equity Shares on 4 March 2022 , just few days before the IPO by way of bonus shares and according the share capital of the company has increased to 2055,643 shares and to get the correct picture of earnings per share, the net profit should be divided by enlarged capital. According the figures of EPS and Return on Networth as given below must be revised.
Earnings per Share 2019-20 Rs –
Earnings per Share 2020-21,Rs 2.10
Earnings per Share 2021-22 6M Rs 31.24
Return on Net Worth: 19-20 – %
Return on Net Worth: 20-21: 15.52%
Return on Net Worth: 21-22 6 M : 72.52%
Book Value of the Share as on 31.3.21 Rs 3.94 ( after bonus)

IPO Peer Comparison:
There are no listed companies in India that engage in a business similar to that of this Company

Observation by Paresh Gordhandas ( Research Analyst )
The company has earned net profits of Rs. 18 lac on total income of Rs. 26.19 Cr during 2020-21, and in the first 6 months of the current year, it has net profit after tax of Rs. 3.12 Cr on Total income of Rs. 30.06. So there is sharp rise in the performance of the first 6 months of the current year.

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