Review By on February 25, 2014
Anisha Impex Ltd. (AIL) is currently engaged in the business of trading of fabrics. It is a multi-product fabric trading company and range includes fabrics for bedding, windows dressing, decorative, pillows and accents, table linen, kitchen linen and other home furnishing fabrics. The company has a diverse product portfolio. It also participates in auctions carried out by authorized agents of customs and ports authorities to buy the confiscated textile materials auctioned by them.
To meet its long term working capital requirements, the company is coming out with an IPO for 6500000 equity share of Rs. 10 each at par to mobilize Rs. 6.50 crore. The issue is opening on 03.03.14 and will close on 05.03.14. Minimum application is to be made for 10000 shares and in multiples thereof, thereafter.
On 14.12.2007 the company issued 170000 equity share of Rs. 10 each at a price of Rs. 50 per share followed by issue of 34000 shares at a price of Rs. 1000 per share on 22.03.12. After this it issued bonus shares in the ratio of 20 for 1 on 01.11.13 and then issued 5245000 equity shares at par between 19.12.13 to 24.01.14 to take the total paid up equity share capital to Rs. 9.93 crore that will rise to Rs. 16.43 crore after this issue. Shares will be listed on BSE SME.
On the performance front, the company has posted an average EPS of Rs. 5.57 for last three fiscals on an equity base of Rs. 0.22 crore. For first nine months of the current fiscal ended on 31.12.13, it has earned net profit of Rs. 0.07 crore on a turnover of Rs. 21.57 crore giving an annualized EPS of Rs. 0.09 on equity of Rs. 9.93 crore that will translate into an EPS of Rs. 0.05 on enhanced equity post this issue. It results in asking price at a P/E of 200 even at par face value.
Issue is lead managed by Inventure Merchant Banker Services Pvt. Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue.
Merchant bankers has poor track record. Due to at par issue, post listing, this issue might surprise all with erratic trades, but considering the performance so far, issue is not worth.
Remark: Avoid it as it has entry barrier as well as poor performance.
Review By on February 25, 2014
Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.
He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.
Dilip Davda
SEBI Registered Research Analyst – Mumbai
Registration No.: INH000003127 (Perpetual)
Email: dilip_davda@rediffmail.com
Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.
The initial public offer (IPO) of Anisha Impex Ltd. offers an early investment opportunity in Anisha Impex Ltd.. A stock market investor can buy Anisha Impex IPO shares by applying in IPO before Anisha Impex Ltd. shares get listed at the stock exchanges. An investor could invest in Anisha Impex IPO for short term listing gain or a long term.
Read the Anisha Impex IPO recommendations by the leading analyst and leading stock brokers.
Anisha Impex IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Anisha Impex IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts mentioned in the above answer to "How is Anisha Impex IPO?"
Our recommendation for Anisha Impex IPO is to avoid.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to avoid the Anisha Impex IPO.
The Anisha Impex IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Anisha Impex IPO allotment status to check.
