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SJS Enterprises Ltd IPO - Subscription Day 1

SJS Enterprises Ltd IPO - Subscription Day 1
by 5paisa Research Team 01/11/2021

The Rs.800 crore IPO of SJS Enterprises Ltd, consisting entirely of offer for sale (OFS) of Rs.800 crore, saw a tepid response on Day-1. As per the combined bid details put out by the BSE, SJS Enterprises Ltd IPO was subscribed just 0.32X overall, with bulk of the demand coming from the retail segment which saw robust activity on the first day. The issue closes on 03rd November.

As of close of 01st November, out of the 105.46 lakh shares on offer in the IPO, SJS Enterprises Ltd saw bids for 34.05 lakh shares. This implies an overall subscription of 0.32X. The granular break-up of subscriptions were tilted in favour of retail investors with HNIs and QIBs hardly participating on the first day of the IPO. QIB bids and NII bids typically come in only on the last day of the IPO.
 

SJS Enterprises IPO Subscription Day-1
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.00 Times

Non Institutional Investors (NII)

0.01 Times

Retail Individuals

0.64 Times

Employees

N.A.

Overall

0.32 times

 

QIB Portion

The QIB portion of the SJS Enterprises IPO saw nil subscription at the end of Day-1. On 29th October, SJS Enterprises Ltd did an anchor placement of 44,28,023 lakh shares at the upper end of the price band of Rs.542 to 18 anchor investors raising Rs.240 crore.

The list of QIB investors including a number of marquee names like Tara Emerging Asia, Societe Generale, Nomura, Goldman Sachs, Citigroup, Axis MF, Franklin Templeton MF, Aditya Birla Sun Life Insurance, Edelweiss, Avendus; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 30.13 lakh shares of which it has got bids for Nil shares on Day-1 of the IPO. QIB bids typically get bunched on the last day, but anchor response has been robust and that is good news.
    

HNI / NII Portion

The HNI portion got subscribed 0.01X (getting applications for 0.31 lakh shares against the quota of 22.60 lakh shares). This is a very tepid response on Day-1 and this segment normally sees response on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day, so the actual picture should only get better.

Retail Individuals

The retail portion was subscribed a robust 0.64X at the end of Day-1, showing strong retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 52.73 lakh shares on offer, valid bids were received for 33.75 lakh shares, which included bids for 27.35 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.531 – Rs542) and will close for subscription on 03rd November 2021.

Also Read:-

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Sigachi Industries Ltd IPO - Subscription Day 1

Sigachi Industries IPO - Subscription Day 1
by 5paisa Research Team 01/11/2021

The Rs.125.43 crore IPO of Sigachi Industries Ltd, consisting entirely of a fresh issue of Rs.125.43 crore, saw a tremendously strong response on Day-1. As per the combined bid details put out by the BSE, Sigachi Industries Ltd IPO was subscribed 9.52X overall, with bulk of the demand coming from the retail segment which saw a robust oversubscription.

However, HNI portion also got oversubscribed and QIBs have participated too. The issue closes on 03rd November.

As of close of 01st November, out of the 53.87 lakh shares on offer in the IPO, Sigachi Industries Ltd saw bids for 512.76 lakh shares. This implies an overall subscription of 9.52X. The granular break-up of subscriptions were tilted in favour of retail investors with HNIs also participating aggressively and QIBs also chipping in on the first day of the IPO. QIB bids and NII bids typically come in only on the last day of the IPO.
 

Sigachi Industries Ltd IPO Subscription Day-1
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.57 Times

Non Institutional Investors (NII)

4.44 Times

Retail Individuals

16.81 Times

Employees

N.A.

Overall

9.52 times

 

QIB Portion

The QIB portion of the IPO saw 0.57X subscription at the end of Day-1. On 29 October, Sigachi Industries Ltd did an anchor placement of 23,08,500 lakh shares at the upper end of the price band of Rs.163 to 2 anchor investors raising Rs.37.63 crore. The 2 QIB investors that invested in the anchor placement of Sigachi Industries include 3 Sigma Global Fund and Nexus Global Opportunities Fund.

The QIB portion (net of anchor allocation as explained above) has a quota of 15.39 lakh shares of which it has got bids for 8.82 lakh shares on Day-1 of the IPO. QIB bids typically get bunched on the last day, but the start has been good enough.


HNI / NII Portion

The HNI portion got subscribed 4.44X (getting applications for 51.28 lakh shares against the quota of 11.54 lakh shares). This is a very strong response on Day-1 since this segment normally sees such a robust response on the last day. In fact, bulk of the funded applications and corporate applications, come in on the last day, so the actual picture should only get better from here on. 

Retail Individuals

The retail portion was subscribed a robust 16.81X at the end of Day-1, showing strong retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 26.93 lakh shares on offer, valid bids were received for 452.66 lakh shares, which included bids for 339.59 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.161 – Rs.163) and will close for subscription on 03rd November 2021.

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Auto Dispatch Numbers of October 2021

Auto Dispatch Numbers of October 2021
by 5paisa Research Team 02/11/2021

Overall auto numbers for the month of October 2021 were disappointing on the 4-wheeler front. This was due to a combination of spike in input inflation and a shortage of microchips in the market.

Here is a quick take on how the key auto company dispatches panned out.


1) The biggest automaker, Maruti Suzuki saw domestic sales fall -33.4% to 108,991 units on YoY basis. The fall was much lower in the mini passenger car segment at -24% while the compact passenger vehicles saw a fall of -48.8% on a YoY basis.

Utility vehicles like the Ertiga, Gypsy and S-Cross saw dispatches increasing by 6.6% YoY. Production at its plants at Manesar and Suzuki’s plant in Gujarat have seen production schedules impacted by the sharp shortfall in microchips.

2) The second largest automaker, Hyundai Motors, also witnessed a 34.6% fall in auto dispatches at 37,021 units in the month of October.

3) The two India-bred auto companies actually flattered on the sales front. Tata Motors reported 44% YoY growth in dispatches at 32,339 units on the back of new launches. Tata Motors also sold 1,586 units of electrical vehicles (EV) during the month.

Mahindra & Mahindra reported marginal increase in auto dispatches in Oct-21 by 8% at 20,130 units largely driven by the utility vehicles segment.

4) Outside of the four large players in the auto segment, the other players put up a mixed dispatch show with positive growth coming more from a low base. Consider some of these numbers.

Kia India reported -22% fall in dispatches at 16,331 units while Toyota Motors reported a marginal 1% increase in Oct-21 dispatches at 12,440 units. Honda Cars reported -25% fall in dispatches at 8,108 units.

5)  Among the 3 smallest players in the auto space in India; Nissan reported a sharp 254% spike in dispatches at 3,913 units, albeit on a low base. Skoda also reported a 115.6% spike in dispatches to 3,065 units for the month of October. Finally, MG Hector reporting -23.6% fall in auto dispatches at 2,863 units.

It must be noted that all the above numbers as reported by the Society of Indian Auto Manufacturers (SIAM) are the dispatches by the auto manufacturers to the dealers. However, the current scenario is that most auto dealers are running at just about 1-2 weeks of inventory, in the midst of the busy festive season.

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Latent View Analytics IPO - 7 Things to Know

Latent View Analytics IPO - 7 Things to Know
by 5paisa Research Team 02/11/2021

The IPO of Latent View Analytics opens on 09 November. The company was floated way back in 2006 and its primary area of activity includes data & analytics consulting, advanced predictive analytics, data engineering and digital solutions.

Latent View Analytics has worked with 30 out of the Fortune 500 companies giving them adequate exposure across global digital challenges. Here is a gist of the company.
 

7 things to know about Latent View Analytics IPO


1) Latent View Analytics broadly operates in 4 sub-verticals. Consulting services entails drawing up a digital roadmap for corporate clients. Data Trends Analysis basically creates the data architecture needed for the digital insights.

Business Analytics provides clients with simple and incisive insights into problems for actionable solutions. Finally, the digital solutions provides the answers to the big digital challenges. 

2) The IPO of Latent View Analytics which opens on 09-Nov and closes on 11-Nov will be a combination of fresh offer and an offer for sale. While the actual price band is yet to be announced, the total issue size will be Rs.600 crore consisting of a fresh issue of Rs.474 crore and an offer for sale of Rs.126 crore.

3) The basis of allotment of Latent View Analytics will be finalized on 16-November while refunds for non-allottees will be initiated on 17-November. The shares will be credited to the demat accounts of eligible applicants on 18-November, and the IPO will list on the BSE and the NSE on 22-November.

4) The fresh issue component of Rs.474 crore will be used to bankroll the organic and inorganic growth of Latent View Analytics. This will include funding the inorganic acquisitions and mergers. In addition, the funds will also be used to capitalize its subsidiaries to boost growth across markets.

5) The company is a consistently profit making company. For FY21, Latent View Analytics reported net profits of Rs.91.46 crore on revenues of Rs.326.71 crore implying net profit margins of 28%. Even in the latest Jun-21 quarter, the company has reported PAT of Rs.22.31 crore and net profit margins of 24.3%.

6) With a strong presence across India, the US and Europe combined with exposure to 30 out of Fortune 500 companies, the company brings extensive man-years of analytical experience, a privileged client roster, focus on research and an absolutely scalable model. Consistent profitability is an added boost for the stock.

7) The IPO of Latent View Analytics will be lead managed by Axis Capital, Haitong Securities and ICICI Securities. The company has appointed Link Intime India as the registrar to the IPO.

Latent View Analytics remains one of the few pure play analytics properties in the Indian digital market. A lot may still predicate on scalability, management bandwidth and implementation.

Also Read:-

Sapphire Foods India IPO - 7 Things to Know

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Fino Payments Bank IPO - Subscription Day 3

Fino Payments Bank IPO - Subscription Day 3
by 5paisa Research Team 02/11/2021

The Rs.1,200 crore IPO of Fino Payments Bank, consisting of a fresh issue of Rs.300 crore and an offer for sale (OFS) of Rs.900 crore, continued to see a measured response on Day-3.

As per the combined bid details put out by the BSE at the end of Day-2, Fino Payments Bank IPO was subscribed 2.03X overall, with bulk of the demand coming purely from the retail segment which saw robust oversubscription. The issue has closed on 02nd November.

As of close of 02nd November, out of the 114.65 lakh shares on offer in the IPO, Fino Payments Bank saw bids for 232.46 lakh shares. This implies an overall subscription of 2.03X. The granular break-up of subscriptions were tilted in favour of retail investors with QIBs portion just about getting through and the HNI portion actually getting undersubscribed.
 

Fino Payments Bank IPO Subscription Day-3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

1.65 Times

Non Institutional Investors (NII)

0.21 Times

Retail Individuals

5.92 Times

Employees

0.93 Times

Overall

2.03 times

 

QIB Portion

The QIB portion of the IPO got subscribed 1.65X at the end of Day-3. On 28 October, Fino Payments Bank did an anchor placement of 93,37,641 lakh shares at the upper end of the price band of Rs.577 to 29 anchor investors raising Rs.539 crore. The list of QIB investors included a number of marquee names like Fidelity, HSBC Global, Pinebridge, Birla Mutual, Tata MF, SBI Life, Invesco, BNP Paribas and Societe Generale; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 62.25 lakh shares of which it has got bids for 102.41 lakh shares as on close of Day-3 of the IPO. QIB bids typically get bunched on the last day, but the response was just about sufficient in this case.

Check - Fino Payments Bank IPO - Subscription Day 2


HNI / NII Portion

The HNI portion got under-subscribed at just 0.21X (getting applications for just 6.63 lakh shares against the quota of 31.13 lakh shares). This is a very tepid response as of the close of Day-3 and this portion is likely to be reallocated to the other segments. There were hardly any funded applications and corporate applications that came in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed a robust 5.92X at the close of Day-3, showing strong retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 20.75 lakh shares on offer, valid bids were received for 122.94 lakh shares, which included bids for 98.96 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.560 – Rs577) and has closed for subscription on 02nd November 2021.

Also Read:- 

1. Fino Payments Bank IPO - 7 Things to Know

2. Upcoming IPOs in 2021

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Policybazaar IPO - Subscription Day 2

Policybazaar IPO - Subscription Status Day 2
by 5paisa Research Team 02/11/2021

The Rs.5,625 crore IPO of PB Fintech (Policybazaar & Paisabazaar), consisting of a fresh issue of Rs.3,750 crore and an offer for sale (OFS) of Rs.1,875 crore, saw a tepid response on Day-1 and Day-2 was relatively better.

As per the combined bid details put out by the BSE, PB Fintech (Policybazaar & Paisabazaar) IPO was subscribed 1.59X overall at the end of Day-2, with bulk of the demand coming from the retail segment and the QIBs. The issue closes on 03rd November.

As of close of 02nd November, out of the 345.12 lakh shares on offer in the IPO, PB Fintech (Policybazaar & Paisabazaar) saw bids for 547.60 lakh shares. This implies an overall subscription of 1.59X.

The granular break-up of subscriptions were tilted in favour of retail investors and QIBs as of the end of Day-2 of the IPO. QIB bids and NII bids typically come in only on the last day of the IPO.
 

PB Fintech (Policybazaar & Paisabazaar) IPO Subscription Day-2
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

2.08 Times

Non Institutional Investors (NII)

0.23 Times

Retail Individuals

2.04 Times

Employees

N.A.

Overall

1.59 times

 

QIB Portion

The QIB portion of the IPO saw 2.08X subscription at the end of Day-2. On 29 October, PB Fintech (Policybazaar & Paisabazaar) did an anchor placement of 2,62,18,079 lakh shares at the upper end of the price band of Rs.980 to 155 anchor investors raising Rs.2,569 crore.

The list of QIB investors including a number of marquee names like Goldman Sachs, Nomura, Blackrock, Morgan Stanley, Canadian Pensions, Fidelity, ADIA, ICICI Pru MF, SBI MF, Axis MF, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 193.30 lakh shares of which it has got bids for 402.71 lakh shares on Day-2 of the IPO. QIB bids typically get bunched on the last day, but anchor response has been robust and that is good news for the QIB response on the last day of the IPO on 03-November.
 

Check - Policybazaar IPO - Subscription Day 1
 

HNI / NII Portion

The HNI portion is still under-subscribed at 0.23X (getting applications for 21.20 lakh shares against the quota of 91.10 lakh shares). This is a relatively tepid response on Day-2 although this segment normally sees response on the last day. That is because, bulk of the funded applications and corporate applications,
come in on the last day, so the actual picture should only get better on the last day. 

Retail Individuals

The retail portion was subscribed a robust 2.04X at the end of Day-2, showing strong retail appetite. Retail allocation for this IPO is 10% of the offer size. For retail investors; out of the 60.73 lakh shares on offer, valid bids were received for 123.69 lakh shares, which included bids for 101.27 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.940 – Rs980) and will close for subscription on 03rd November 2021.

Also Read:- 

Upcoming IPOs in 2021

Policybazaar IPO - 7 Things to Know About

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