Review By on September 25, 2015
Tejnaksh Healthcare Ltd (THL) is running an Institute of Urology - an ISO certified the international level Urology hospital, located in the heart of Dhule city, Maharashtra, India. It provides a comprehensive range of services from consultations and investigations to treatment for Urology. As the institute is equipped with all latest equipment and provides the whole range of services, the patients from local area do not feel the need to go to metropolitan areas for urological problems. The institute is recognized by National board of examinations for DNB (Urology). The institute boasts of 150 research publications and 23 innovations. For various achievements and innovations in urology Dr Ashish Patil, the director of the institute is listed in Guinness World Records, Ripley’s believe it or not, Limca book of records, India book of records (multiple records), Asia book of records, World amazing records and World record academy.
Urological Problems are quite common in our part of country and newer modalities are constantly developing for the treatment of these problems. THL is making available all these recent modalities of treatment at an affordable rate.
To meet expansion and development of its hospital and raise working funds, the company is coming out with a maiden IPO of 304000 equity share of Rs. 10 each at a fixed price of Rs. 80 per share to mobilize Rs. 2.43 crore. Issue opens for subscription on 30.09.15 and will close on 12.10.15. Minimum application is to be made for 1600 shares and in multiples thereon, thereafter. Issue is lead managed by First Overseas Capital Ltd and Cameo Corporate Services Ltd it the registrar to the issue. Post allotment, shares will be listed on BSE SME. After initial at par issue of equity, it issued bonus shares in the ratio of 79 for 1 in January 2015. Its current paid up equity capital of Rs. 0.80 crore will stand enhanced to Rs. 1.10 crore post issue.
On performance front, as per draft prospectus, for last three fiscals it has posted an average EPS of Rs. 6.77. It suffered a setback in FY 13. For FY15 it has earned net profit of Rs. 0.60 crore on a turnover of Rs. 2.05 crore. If we attribute this earnings that will translate into EPS of Rs. 7.63 on pre IPO capital and Rs.5.55 on post IPO capital. Thus asking price is at a P/E of around 14 plus that augurs well for health care IPO. As claimed by the company there is no listed peer based on activities carried out by it.
On merchant banker’s front, this is 8th SME IPO from its stable. It has poor track record.
Risk avers fund surplus investors may consider investment for medium to long term.
Review By on September 25, 2015
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 Tejnaksh Healthcare Ltd. offers an early investment opportunity in Tejnaksh Healthcare Ltd.. A stock market investor can buy Tejnaksh Healthcare IPO shares by applying in IPO before Tejnaksh Healthcare Ltd. shares get listed at the stock exchanges. An investor could invest in Tejnaksh Healthcare IPO for short term listing gain or a long term.
Read the Tejnaksh Healthcare IPO recommendations by the leading analyst and leading stock brokers.
Tejnaksh Healthcare IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Tejnaksh Healthcare IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts mentioned in the above answer to "How is Tejnaksh Healthcare IPO?"
Our recommendation for Tejnaksh Healthcare IPO is to subscribe.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the Tejnaksh Healthcare IPO.
The Tejnaksh Healthcare IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Tejnaksh Healthcare IPO allotment status to check.
