Angel Fibers Ltd

LISTED

SME IPO · IPO Guide

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Issue Price

₹27

Listed On

06 Mar 2018

Listing Price

₹28.50 (+5.56%)

Current Price LIVE

₹28.50 (+5.56%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	8,000	₹2,16,000
HNI Min	3	12,000	₹3,24,000

As per financials, company's growth is good, RoNW is - (2.81)% for last three fiscals as company has posted losses in FY16 and issue is reasonably priced as per latest earnings. Company is in textile industry and Government is also promoting this industry, so future looks good but very competitive also. So we give SUBSCRIBE rating to this SME IPO.

As on Date	QIB	RII	Total
Shares Offered / Reserved	32,03,000	32,03,000	64,06,000
Day 1 20-02-18	2,08,000 (0.07)	12,20,000 (0.38)	14,28,000 (0.22)
Day 2 21-02-18	5,64,000 (0.18)	32,60,000 (1.02)	38,24,000 (0.60)
Day 3 22-02-18	35,04,000 (1.09)	73,68,000 (2.30)	1,08,72,000 (1.70)
Day 4 23-02-18	51,56,000 (1.61)	1,95,68,000 (6.11)	2,47,24,000 (3.86)

Started in 2014, Angel Fibers Ltd (AFL) is, Rajkot Gujarat based company, primarily affianced in the business of spinning of cotton yarn. AFL also trades in cotton waste which is by-product of its manufactured product. The manufacturing facility of Company is situated at Kalavad in Jamanagar district of Gujarat state which is close to the cotton growing areas of Maharashtra and Saurashtra (region) of Gujarat. The company has established a capacity of the spindlage of total 19584 spindles having installed capacity of 4363MT per annum to manufacture cotton yarn viz.,30s Ne Combed and 40s Compact variety of the Ginning and Spinning unit used to make products like bed sheets, socks, knitted fabrics, etc. and 40s Ne Compact Combed yarn used to make Shirtings, Sheeting, Bottom Weights, etc. Company is aiming to produce yarn of export quality and entering the overseas market. This year AFL started exporting its product to Bangladesh. To augment its international demand and preference, AFL has recently procured fully automatic plant for spinning yarn with state of the art modern machines. Company has a diversified customer base catering to various segments. In domestic AFL has created market in states viz. Delhi, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab,Rajasthan, Tamil Nadu, Union Territories and West Bengal. On financial performance front, AFL has posted turnover/net profits of Rs. 51.02 cr. / Rs. -(5.65) cr. (FY16) and Rs. 88.74 cr. / Rs. 3.11 cr. (FY17). For H1 of current fiscal, it has reported net profit of Rs. 2.59 cr. on a turnover of Rs. 46.08 cr. So financials for very small period is available and it makes difficult to make any conclusion for future of company. For last three fiscals it has posted an average EPS of Rs. - (0.14) and an average RoNW of - (2.81)% on an equity base of Rs. 25 crore. Asking price is at a P/BV of 2.7 based on its NAV of Rs. 10 as on 30.09.17. If we annualise latest earnings and attribute it to fully diluted equity post issue, then asking price is at a P/E of around 13. As per offer documents, its peers are trading at P/E in range of 6.55 to 52.41. So issue looks reasonably priced. On merchant banker's front, this is the 25th mandate in last three years. Out of last 10 listings, 2 opened at discount, 2 at par and the rest with a premium of 5% to 20% on the day of listings. As per financials, company's growth is good, RoNW is - (2.81)% for last three fiscals as company has posted losses in FY16 and issue is reasonably priced as per latest earnings. Company is in textile industry and Government is also promoting this industry, so future looks good but very competitive also. So we give SUBSCRIBE rating to this SME IPO.

Offer for Sale

1
Offer for Sale(a) To achieve the benefits of listing the Equity Shares on the Stock Exchange(b) For the offer for sale
2
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
3
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
4
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
5
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
6
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
7
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

K
kapil 08 Mar 2018, 16:16

ok sirji
I
IPO Guru 08 Mar 2018, 16:15

as said hold with SL so you can withstand with any movement.
K
kapil 08 Mar 2018, 15:55

sir it is showing strength in dis bear market..what is ur view now
B
Bhavya 07 Mar 2018, 14:09

Ty
I
IPO Guru 07 Mar 2018, 14:07

market is not good, so better option is sell for now. If want to take risk, then keep 26.50 as SL and hold
B
Bhavya 07 Mar 2018, 12:48

Gurujii ab kya lagta he kya kare wait ya sell
C
chirag 06 Mar 2018, 18:22

sold @ LC
I
IPO Guru 06 Mar 2018, 18:21

@jignesh, its very difficult to reach it to issue price in next one month, but as its already too much down, hold for 3-6 months, may be it bounce back to good level.
P
prashant 06 Mar 2018, 17:40

yaar angle
P
prashant 06 Mar 2018, 17:32

bhupesh angle ka kya hoga
B
bhupesh 06 Mar 2018, 17:30

from now on no to IPO of textile group
J
jignesh kadvani 06 Mar 2018, 17:29

Guys i am holding sks textiles sme ipo from listing day now its price is half 150 was original and now around 77. Can anybody tell me will it rich to its allotted price or not in next 1 month?
A
Anilt 06 Mar 2018, 17:20

tomorrow will go more down or can up?
I
IPO Guru 06 Mar 2018, 16:01

it may be at similar price around 27, so try to sell around 27.10 to 27.50
K
kapil 06 Mar 2018, 16:00

ok sir
I
IPO Guru 06 Mar 2018, 16:00

for sme stocks its better to get exit as they are too much volatile with limited buyers and sellers.
B
Bhavya 06 Mar 2018, 15:59

What to do for tomorrow sir
P
prashant 06 Mar 2018, 15:59

kitna hold karna padega
K
kapil 06 Mar 2018, 15:58

sir any prediction for future of this script
I
IPO Guru 06 Mar 2018, 15:58

@all, if stock hits LC, then also one can put on sell. If some buyers arrive, then trade will be executed. For Angel, same happen today and for most its sold around 27.1 price.
P
prashant 06 Mar 2018, 14:02

any advice plz
B
bhupesh 06 Mar 2018, 13:31

that's my view
B
bhupesh 06 Mar 2018, 13:30

sorry but I exited
B
bhupesh 06 Mar 2018, 13:30

I think it will be multiple 2 fold in a month
A
Anilt 06 Mar 2018, 13:29

ipo guru pls advice
A
Anilt 06 Mar 2018, 13:29

thanks alan
A
Alan 06 Mar 2018, 12:14

Sorry...some buying happening in Angel now. Those who want can exit now.
A
Alan 06 Mar 2018, 12:12

Some buying happening now in Mohini. Those who want to exit can exit now.
A
Alan 06 Mar 2018, 12:08

@Anilt, suggest you take expert opinion from ipoguru or your financial adviser. Whether Angel Fibers will do well in future or not....no one can say.
A
Anilt 06 Mar 2018, 11:58

@alan..what is advise..should we hold for 3-4 month... or sale.. is there chance to go up? i cant sell it today..what should i do tomorrow?
A
Alan 06 Mar 2018, 11:51

@chirag, suggest you take expert opinion on holding. All SMEs carry inherent risk because of their small scale of operation. Angel Fibers is relatively new. They started operations in 2014 only. I hold at least a dozen different SMEs at any point of time and manage my risk by holding a diversified portfolio of SMEs. Overall market sentiment is also bad.
C
chirag 06 Mar 2018, 11:30

thanks alan. your info was really helpful. planning to hold it for long term. hope its good
A
Alan 06 Mar 2018, 11:22

@chirag, you can buy/sell SMEs only in lot. Minimum one lot or multiples there of.
C
chirag 06 Mar 2018, 11:16

ok. and one more thing if we sell this do we have to sell as a lot or we can sell as much qty we want.
A
Alan 06 Mar 2018, 10:58

@chirag, As per my understanding, ICICI direct do not deal in SME trades directly. They operate through some agent. You cannot place direct SME order in ICICI direct. You have to call their customer service. They will take your order and pass it on to their agent for execution. With ICICI you cannot do realtime trade in SMEs.
C
chirag 06 Mar 2018, 10:52

@alan thanks a lot. and one more thing. these shares are in my icici demat. when i called for selling they told we have to place order 30 mins before this oreder will be placed at bse. you directly cant sell the stock from your demat. what was that ?
A
Alan 06 Mar 2018, 10:50

@chirag, listing rule differs with the segment the stock is listed for trading. The listing rule in Angels case is like this. The price of the first trade is taken as the base and then there will be 5% upper or lower circuit from that base price. Angel listed at 28.50 and so that becomes the base price. Now it is in lower circuit because the price has come down by 5% from the base price of 28.50. From tomorrow circuit will be 5% from todays closing price.
B
bhupesh 06 Mar 2018, 10:47

in 10 am
B
bhupesh 06 Mar 2018, 10:47

I sold at 27.1
C
chirag 06 Mar 2018, 10:45

alan what is the circut limit given to angel fibre
T
Tejas 06 Mar 2018, 10:44

@alan ha ha...true..
A
Alan 06 Mar 2018, 10:43

@Tejas, now you are forced to hold. You cannot sell now as there are no buyers in LC. LC may continue tomorrow also. I am not selling.
T
Tejas 06 Mar 2018, 10:37

@ipoguru its in LC how can we sell??
I
IPO Guru 06 Mar 2018, 10:36

@all, sell it, that's better option for today.
C
chirag 06 Mar 2018, 10:36

alan by the way what is the new listing rule ?
P
pankaj 06 Mar 2018, 10:35

@ IPO Guru...what should we do?? hold or sell....?? pls reply should we hold for 2-week for gain??
P
prashant 06 Mar 2018, 10:34

how many time
T
Tejas 06 Mar 2018, 10:33

@alan aaj long term investment ke fayde khudko samja raha hoon ha ha..
P
prashant 06 Mar 2018, 10:29

kya kare
A
Alan 06 Mar 2018, 10:19

If all panic and put the sell order, stock may go down to 20-22 levels. Because of the new listing rule weak hands could not exit the stock today and they may go into panic mode soon. If the new listing rule is applicable across the board, then forget about listing gains in future.

Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY 18	46.08	43.85	2.59
FY17	88.74	86.76	3.11
FY16	51.02	53.50	(5.65)

Open Date	Feb 20, 2018
Close Date	Feb 23, 2018
Allotment Date	Mar 01, 2018
Listing Date	Mar 06, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 27 Per Equity Share
Retail Min Lot	1 Lot (4,000 Shares - ₹ 1,08,000)
Lead Manager	Guiness Corporate Advisors Private Limited

Angel Fibers Ltd

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