AA Plus Tradelink Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹18

Listed On

22 Jul 2021

Listing Price

₹17.50 (-2.78%)

Current Price LIVE

₹17.50 (-2.78%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	16,000	₹2,88,000
HNI Min	3	24,000	₹4,32,000

For AA Plus Tradelink Limited, financials are improving, RoNW is 2.20%, P/E is around 110 for FY21. So issue looks aggressively priced and also trading business is very highly competitive. Performance of BRLM is average. So we give AVOID rating to this SME IPO.

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	17	17.04,000	34,08,000
Day 1 08-07-21	40,000 (2347.42)	9,37,200(0.55)	9,88,300(0.29)
Day 2 09-07-21	56,000 (3286.38)	20,16,000 (1.18)	20,72,000 (0.61)
Day 2 12-07-21	5,44,000 (31924.88)	44,48,000 (2.61)	49,92,000 (1.46)
Day 3 13-07-21	5,44,000 (31924.88)	44,48,000 (2.61)	49,92,000 (1.46)

Incorporated in 2016, AA Plus Tradelink Limited is engaged in the business of trading of products made of iron & steel, aluminium, graphite, and other alloy products. The company are a multi-product trading company with a diverse product portfolio such as aluminium bars, Aluminium Scrap, Aluminium Powder, Ammonium Molybdenum, G I pipes, Graphite Flakes, Graphite Powder, Graphite Rods, Blocks and Plates, Graphite Square and Round, M S Pipe, M S Sheet, Nickel Powder, Zirconium Alloy, Matrix Powder, Tungsten. The company is also in the business of supplying Epoxy Floor Coating, Industrial Epoxy Floor Coating, Epoxy Floor Coating Marine, PU Floor Coating, Epoxy Coating, Epoxy Primer, Epoxy High Build Coating, Epoxy Heat Resistance Coating. The company is currently serving the corporate and other clients from construction and manufacturing industry. On the financial performance front, AA plus reported turnover/net profits (loss) of Rs. 22.04 cr./ 0.06 cr. (FY18), Rs. 5.19 cr./ 0.10 cr. (FY19) and Rs. 17.31 cr. / Rs. 0.14 cr. (FY20). For FY21, company has posted 9.51 Cr total income and 0.13 Cr net profit. So company has shown growth, but pandemic had effect on the business. For the last three years, company has posted average EPS of Rs. 0.33 and RoNW of 2.19%. The issue is priced at a P/BV of 1.17 based on its NAVs of Rs. 15.36 post issue. As per FY21 earnings, on fully diluted equity post issue, IPO is priced at P/E of around 110. So issue looks aggressively priced. As per RHP, comparison between listed peers is shown in above table. On BRLM's front Inventure Merchant Banker Services Private Limited Pvt. Ltd. has handled 3 IPOs in last three fiscals. From 3 IPOs, 1 is opened below and remaining are opened above issue price. As of now from 3 IPOs, 1 is trading below and remaining are trading above issue price . ( As on 07.07.21 ) For AA Plus Tradelink Limited, financials are improving, RoNW is 2.20%, P/E is around 110 for FY21. So issue looks aggressively priced and also trading business is very highly competitive. Performance of BRLM is average. So we give AVOID rating to this SME IPO.

Fresh Issue

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)Issue expenses (R
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0.30/- C
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)General corporate purposes ( R
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All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
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Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
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With entry barriers, SEBI wants only well informed investors to participate is such SME offer
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With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
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Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

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2 Comments

A
aj 26 Jul 2021, 10:47

sir new sme ipo updated please
G
Gandhi Parin 21 Jul 2021, 23:49

hi

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY21	9.51	9.30	0.13
FY20	17.31	17.08	0.14
FY19	5.19	4.97	0.10
FY18	22.04	21.93	0.05

Open Date	Jul 08, 2021
Close Date	Jul 13, 2021
Allotment Date	Jul 19, 2021
Listing Date	Jul 22, 2021
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 18 Per Equity Share
Issue Size	Fresh Issue of Up to 36,00,000 with aggregating up to Rs 6.48/- Cr
Retail Min Lot	1 Lot (8,000 Shares - ₹ 1,44,000)
Lead Manager	Inventure Merchant Banker Services Private Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
AA Plus Tradelink Limited Current	2.24	110.25	2.20%	9.51
Century extrusions Limited	1.69	530.01	3.20%	232.10
Sacheta Metals Limited	1.09	16.95	6.43%	83.79
Sharda Ispat Limited	1.43	11.45	12.48%	96.73

AA Plus Tradelink Limited

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