Ajooni Biotech Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹30

Listed On

02 Jan 2018

Listing Price

₹36 (+20.00%)

Current Price LIVE

₹36 (+20.00%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	8,000	₹2,40,000
HNI Min	3	12,000	₹3,60,000

As per financials, company's growth is good, but last 16 months growth is surprising, RoNW is 8.87% for last three fiscals and issue looks fully priced as per latest earnings. With growth of country, this Industry will grow and after GST organized players will get more market share. Also company will use funds from IPO for capacity expansion and that will increase its production around 85% from current level. So, we give NEUTRAL rating to this SME IPO.

Started in 2010, Ajooni Biotech Limited is Chandigarh based company, engaged in manufacturing, producing, processing and supplying of Cattle feed, Nutrients related to cattle feed and manufacturing & production of Animal health care suppliments. Company has entered into an Agreement with Patanjali Gramudyog Nyas, Haridwar (PATANJALI) for manufacturing of Cattle feed and Distribution of Cattle feed and feed supplements in their brand of Patanjali with 100% buy back arrangement for supplies in the states of Punjab, Himachal Pradesh, some parts of Jammu & Kashmir, Haryana and Rajasthan. Company also manufactures cattle feed & supplement under its own brand name of 'AUTUS ANIMAL HEALTHCARE'. On performance front, ABL has posted turnover/net profits of Rs. 0.57 cr. / Rs. 0.008 cr. (FY14), Rs. 7.21 cr. / Rs. 0.073 cr. (FY15), Rs. 13.23 cr. / Rs. 0.097 cr. (FY16) and Rs. 28.58 cr. / Rs. 0.276 cr. (FY17). For five months ended on 31.08.17 of the current fiscal, it has reported net profit of Rs. 0.164 crore on a turnover of Rs. 13.94 crore. So company has shown healthy growth in year on year. Issue is priced at a P/BV of 1.71 on the basis of its post issue NAV. For last three fiscals it has posted an average EPS of Rs. 2.35 and an average RoNW of 23.48% on an equity capital of Rs. 33 lacs. If we annualize latest earnings and attribute it on post issue equity capital then asking price is at a P/E of around 44 plus, against peers trading in range of 17 to 58 P/E. So issue looks fully priced. On merchant banker's front, this is the 9th mandate from its stable in last three years. Out of last 8 listings 3 opened at discount, 1 at par, 4 with upto 20% premium to offer price on the day of listings. So track record is normal. As per financials, company's growth is good, RoNW is 23.48% for last three fiscals and issue looks fully priced as per latest earnings. If company can maintain same growth rate, then its can be very good. So, we give NEUTRAL rating to this SME IPO.

Fresh Issue

1
To part finance working capital requirements of the CompanyTo meet General corporate purposesTo meet the expenses of the Issue
2
To part finance working capital requirements of the Company
3
To meet General corporate purposes
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To meet the expenses of the Issue
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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.

💬 Community Discussion

50 Comments

R
Rajeev Rastogi 31 Jul 2019, 21:38

Koi bata Sakta hai ki company ka koi future hai bhi ya. nahi 11/- rate hai result ka pata nahi or trade bhi 1 ya 2 lot hota hai wo bhi kabhi kabhi jaankaari jaroori dijiye
S
sohil 31 May 2018, 11:01

ok.
I
IPO Guru 31 May 2018, 10:57

we will check and inform you soon.
S
sohil 30 May 2018, 17:56

what is the result ipo guru can u inform whether it is good or bad bcoz result was today.
S
sohil 12 May 2018, 17:13

ipo guru is the result date out .i heard about 15 may result date.
T
THUMAR DIVYESH 08 May 2018, 19:55

KOI BATA SAKTA HAI KITNA CHALEGA?
S
sohil 20 Feb 2018, 11:41

ok.
I
IPO Guru 20 Feb 2018, 11:26

you have shares, so whenever company publish results, you will get mail for that.
I
IPO Guru 20 Feb 2018, 11:25

ok
S
sohil 20 Feb 2018, 11:25

thanks ipo guru if available please inform.
I
IPO Guru 20 Feb 2018, 11:24

there is no news available on this.
S
sohil 20 Feb 2018, 11:11

ipo guru please reply when is the result.
S
sohil. 17 Feb 2018, 17:38

thanks ipo guru .when is the result of ajooni biotech..
I
IPO Guru. 17 Feb 2018, 16:30

@sohil, sme stocks are very volatile as equity is very small. So its only for listing gains and then move away. Investment for long term is not advisable in any sme stock.
S
sohil. 16 Feb 2018, 17:14

ipo guru please reply .one should be invested or not. Is company good or not for long term.
S
sohil. 16 Feb 2018, 16:12

why it is going down any bad news.
A
AMIT TOSHNIWAL. 18 Jan 2018, 10:41

ok
I
IPO Guru. 17 Jan 2018, 12:14

@amit, if you really looking for long term, than you should invest in HDFC Life, Amber, Dixon, Capacite, DMart, etc which has brand value and more secure.
A
AMIT TOSHNIWAL. 16 Jan 2018, 21:17

100 rs per share. ja shakta h kya
A
AMIT TOSHNIWAL. 16 Jan 2018, 21:17

long time invest kar shakta hu kya
A
AMIT TOSHNIWAL. 16 Jan 2018, 21:16

100 rs per ja shakta h kya
I
IPO Guru. 16 Jan 2018, 20:54

as per RHP, Ajooni is making some products for patanjali.
A
AMIT TOSHNIWAL. 16 Jan 2018, 20:51

iop guru ajooni biotech ka patnjali. ke sath koi contract hua h kya
M
megh. 04 Jan 2018, 10:09

3rd u/c hits today.. this stock is on fire..
M
mike tango. 03 Jan 2018, 12:11

here sold at 41.9
I
IPO Guru. 03 Jan 2018, 12:01

yeah you may wait with SL of 42.50
M
megh. 03 Jan 2018, 11:35

should i wi8 for tommo?
M
megh. 03 Jan 2018, 11:31

second u/c hit..
I
IPO Guru. 02 Jan 2018, 11:47

@megh, it has hit UC, so wait today and sell tomorrow around 38-40
M
megh. 02 Jan 2018, 11:08

share ur views pls
M
megh. 02 Jan 2018, 11:08

what should I do, book profit of 24k or should I hold for one day at least , it stop moving after 36, what is happning , share your views guys
M
mike tango. 02 Jan 2018, 10:32

ok thanx
I
IPO Guru. 02 Jan 2018, 10:31

then you should contact your broker, they will help you in selling.
M
mike tango. 02 Jan 2018, 10:31

so wt should I do...
M
mike tango. 02 Jan 2018, 10:31

no it's my first sme ipo...
I
IPO Guru. 02 Jan 2018, 10:28

have you before traded any sme stocks as in some case only brokers are allowed to trade in sme stocks.
M
mike tango. 02 Jan 2018, 10:23

but it shows...u can't trade in this...
I
IPO Guru. 02 Jan 2018, 10:23

you can sell
M
mike tango. 02 Jan 2018, 10:22

and I m unable to sell also....why ??
I
IPO Guru. 02 Jan 2018, 10:22

as per gmp 38-40 is range where it may settle.
M
mike tango. 02 Jan 2018, 10:22

ok
I
IPO Guru. 02 Jan 2018, 10:22

upper circuit, its max price increase in share in one day.
M
mike tango. 02 Jan 2018, 10:19

@guru...UC means ??
M
mike tango. 02 Jan 2018, 07:11

it should hold.....it will go higher
M
mike tango. 02 Jan 2018, 07:10

hold
J
janu parpiynai. 01 Jan 2018, 23:44

ajooni hold or sell on 1st day ?
I
IPO Guru. 01 Jan 2018, 13:10

it may go up to 35-40, so one UC possible.
A
anand. 31 Dec 2017, 13:00

https://chat.whatsapp.com/Cm4ctdy2eMHBtTy9wvpOaw
T
Tejas. 30 Dec 2017, 21:34

0/2
M
mike tango. 30 Dec 2017, 12:03

1/1

As on Date	QIB	RII	Total
Shares Offered / Reserved	10,42,000	10,42,000	20,84,000
Day 1 20-12-17	21,52,000 (2.06)	7,56,000 (0.73)	29,08,000 (1.40)
Day 2 21-12-17	46,84,000 (4.50)	45,64,000 (4.38)	92,48,000 (4.44)
Day 3 22-12-17	8,33,32,000 (79.97)	5,02,16,000 (48.19)	13,35,48,000 (64.08)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
31.08.17 FY 18	13.94	13.39	—
FY 17	28.58	27.87	—
FY 16	13.23	13.00	—
FY 15	7.21	7.08	—
FY 14	0.57	0.55	—

Open Date	Dec 20, 2017
Close Date	Dec 22, 2017
Listing Date	Jan 02, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 30 Per Equity Share
Retail Min Lot	1 Lot (4,000 Shares - ₹ 1,20,000)
Lead Manager	Navigant Corporate Advisors Limited

Ajooni Biotech Limited

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