Bombay Super Hybrid Seeds Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹60

Listed On

25 Apr 2018

Listing Price

₹60 (+0.00%)

Current Price LIVE

₹60 (+0.00%)

🧮

Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	4,000	₹2,40,000
HNI Min	3	6,000	₹3,60,000

As per financials, company's performance since FY16 is good, RoNW is 11.54% for last three fiscals and issue is aggressively priced as per latest earnings. So we give AVOID rating to this SME IPO as per current market situation.

As on Date	QIB	RII	Total
Shares Offered / Reserved	8,22,000	8,22,000	16,44,000
Day 1 12-04-18	6,80,000 (0.83)	66,000 (0.08)	7,46,000 (0.45)
Day 2 13-04-18	7,40,000 (0.90)	3,76,000 (0.76)	11,16,000 (0.68)
Day 3 16-04-18	12,38,000 (1.51)	15,12,000 (1.84)	27,50,000 (1.67)
Day 4 17-04-18	40,22,000 (4.89)	1,18,74,000 (14.45)	1,58,96,000 (9.67)

Started in 2000, Rajkot - Gujarat based Bombay Super Hybrid Seeds is Manufacturer and Supplier of premium grade Agricultural Seeds. The products of the company are popular for its pure cultivation, moisture-proof packaging, high yield assurance and longer shelf life. It has two brands Kasturi and Bombay. The product ranges of the company has jumped to more than 27 crops with more than 111 varieties in a span of just 8 years with expansion in Gujarat, Maharastra, Rajasthan, Madhya Pradesh, Andra Pradesh and Karnataka with the necessary approved license. It has also successfully established distribution network of 350 plus dealers. Bombay Super has a state of art fully equipped seed processing unit and seed testing laboratory. As per financial performance, BSHS has posted total income/net profits of Rs. 15.71 cr. / Rs. 0.27 cr. (FY13), Rs. 30.13 cr. / Rs. 0.25 cr. (FY14), Rs. 31.33 cr. / Rs. 0.04 cr., (FY15), Rs. 63.13 cr. / Rs. 0.27 cr. (FY16) and Rs. 109.70 cr. / Rs. 0.80 cr. (FY17). For upto Q3 of FY18, it has earned net profits of Rs. 0.87 cr. on a turnover of Rs. 72.91 cr. After FY15, it has marked steady growth in top and bottom lines. For last three fiscals it has posted an average EPS of Rs. 1.47 and an average RoNW of 11.54%. Issue is priced at a P/BV of 3.77 based on its NAV of Rs. 15.91 as on 31.12.17. If we annualise latest earnings and attribute it on fully diluted equity post issue then asking price is at a P/E of around 34 against industry average of 30. As per offer documents, it has shown listed peers as Mangalam Seeds, Kaveri Seeds, Monsanto, R J Bio, Camson Seeds, Omega AG that are trading at a P/E of around 37, 26, 33, NA, 14, 500 respectively as on 06.04.18 closings. Considering industry average, issue is aggressively priced. On merchant banker's front, this is the 6th IPO in last six fiscals. Out of last 5 listings, 1 opened at par and the rest 4 with a premium ranging from 1.4% to 45% on the day of listing. As per financials, company's performance since FY16 is good, RoNW is 11.54% for last three fiscals and issue is aggressively priced as per latest earnings. So we give AVOID rating to this SME IPO as per current market situation.

Fresh Issue

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To Meet Working Capital RequirementRepayment of LoanGeneral Corporate PurposesTo Meet the Issue Expenses
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To Meet Working Capital Requirement
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Repayment of Loan
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General Corporate Purposes
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To Meet the Issue Expenses
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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

I
IPO Guru 23 Apr 2018, 10:29

it may be but as per info with us, its not active.
P
parshwa 23 Apr 2018, 09:04

oh to be safe is good .. btw as per smart invst. gmp as of monday is â‚¹17k....
H
Hitesh Bhandari 22 Apr 2018, 22:25

to make profit safe
H
Hitesh Bhandari 22 Apr 2018, 22:25

yea
P
parshwa 22 Apr 2018, 22:24

y hitesh u want to sell ur alloted application ?
P
piyush solanki 22 Apr 2018, 17:53

amount is unblock from morning u can use it
H
Hitesh Bhandari 22 Apr 2018, 07:33

i have one application alloted and want to sell the same.
P
piyush solanki 21 Apr 2018, 15:10

0/2 alloted
P
piyush solanki 21 Apr 2018, 14:28

nice
P
parshwa 21 Apr 2018, 14:22

btw guys on friday gmp was @â‚¹15,000 ..... latest gmp
P
Pratik 21 Apr 2018, 14:21

http://www.skylinerta.com/display_application.php
P
Pratik 21 Apr 2018, 14:21

yes allotment is available
P
piyush solanki 21 Apr 2018, 14:00

atyar thi
P
parshwa 21 Apr 2018, 13:26

allotment is out
P
Pratik 21 Apr 2018, 11:02

allotment date ?
P
parshwa 21 Apr 2018, 10:28

and wat about listing ?
C
Chirag Jobanputra 21 Apr 2018, 10:18

If hold for 1 month it can give 25 percent profit sure
I
IPO Guru 19 Apr 2018, 19:42

its updated now
I
IPO Guru 19 Apr 2018, 19:42

due to some technical issue data wasn't updated
B
bdv 19 Apr 2018, 16:26

minimum 12000 profit confirm
H
hitesh doshi 18 Apr 2018, 17:00

pl update all ipo
S
SANJAY PARMAR 18 Apr 2018, 12:11

Update subscription of all ipo otherwise close the app
P
piyush solanki 17 Apr 2018, 19:37

14 times in retails I have applied for 2 I think 5 to 10% listing gain I think after 14 times not seen in discount in listing am i right @ ipo guru
C
Chirag Jobanputra 17 Apr 2018, 14:48

Good ipo it can give 5 percent returns
P
paras 17 Apr 2018, 14:45

I applied for this IPO. Let see .
H
Hard 17 Apr 2018, 14:32

4.60.....till subscription.....
H
Hard 17 Apr 2018, 14:30

fii....ma pan bharano.....Bhai...bhai
I
IPO Guru 17 Apr 2018, 13:41

not active in gray market as per our information.
I
IPO Guru 17 Apr 2018, 13:41

not looks good as per financial
S
Sahil Sanghvi 17 Apr 2018, 13:14

sir, I don't understand all the complicated analysis of Company, please throw light on this and suggest what's your opinion on listing gain on this script.
C
Chirag Jobanputra 17 Apr 2018, 09:51

Bombay seeds can I apply guru?
B
Bhavya 17 Apr 2018, 09:23

Guru pls reply
B
Bhavya 16 Apr 2018, 19:48

Guru which sme will give listing gain bombay or mahickra
H
Hard 16 Apr 2018, 16:18

still 1.31 time subscription
P
paras 16 Apr 2018, 15:19

Is IPO m paisa lgana chaiye kya
P
paras 16 Apr 2018, 15:18

how do you check in grey market
N
nik chhatbar 16 Apr 2018, 15:18

grey market me 10k bata rahe he
N
nik chhatbar 16 Apr 2018, 15:18

hey
P
Pratik 16 Apr 2018, 14:59

Grey market started
K
kalpesh 16 Apr 2018, 14:58

plz ans
K
kalpesh 16 Apr 2018, 14:19

ipo bharay ha k na
H
Hard 16 Apr 2018, 13:40

13:35.......1time subscription
I
IPO Guru 16 Apr 2018, 11:43

not active in gray market
N
nik chhatbar 15 Apr 2018, 22:00

hey ipoguru
C
Chirag 14 Apr 2018, 22:29

subject to soda hoy to kaho
N
nik chhatbar 14 Apr 2018, 00:22

ipo guru answer to de
N
nik chhatbar 14 Apr 2018, 00:22

ek saal kon rakhega
N
nik chhatbar 14 Apr 2018, 00:21

haha
H
Hard 13 Apr 2018, 21:58

ek Saal me double
H
Hard 13 Apr 2018, 21:58

bhari do

Period	Total Income	Total Expenses	Profit After Tax (PAT)
upto Q3 FY18	72.91	71.58	0.87
FY17	109.70	109.50	0.80
FY16	63.13	62.70	0.27
FY15	31.33	31.25	0.04
FY14	30.12	29.77	0.25
FY13	15.71	15.32	0.27

Open Date	Apr 12, 2018
Close Date	Apr 17, 2018
Allotment Date	Apr 23, 2018
Listing Date	Apr 25, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 60 Per Equity Share
Retail Min Lot	1 Lot (2,000 Shares - ₹ 1,20,000)
Lead Manager	Monarch Networth Capital Limited

Bombay Super Hybrid Seeds Limited

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