Destiny Logistics & Infra Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹20

Listed On

13 Oct 2021

Listing Price

₹20.70 (+3.50%)

Current Price LIVE

₹20.70 (+3.50%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	12,000	₹2,40,000
HNI Min	3	18,000	₹3,60,000

For Destiny Logistics & Infra Limited results are average, RoNW is 30.25%, P/E is around 51 for FY21 earnings, so issue looks aggressively priced. Logistics sector is highly competitive, but also has high growth opportunities. Performance of BRLM is not available. So we give AVOID rating to this SME IPO.

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	12,78,000	12,78,000	25,56,000
Day 1 30-09-21	25,50,000 (2.00)	3,06,000 (0.24)	28,56,000 (1.12)
Day 2 01-10-21	26,34,000 (2.06)	31,92,000 (2.5)	58,26,000 (2.28)
Day 3 04-10-21	26,34,000 (2.06)	57,66,000 (4.51)	84,00,000 (3.29)
Day 4 05-10-21	27,24,000 (2.13)	94,98,000 (7.43)	1,22,22,000 (4.78)

Destiny Logistics & Infra Limited is in the business of Logistics involving land based transportation. The vehicles are mostly procured from third party service providers. The Company acts as an aggregator for providing Logistics services which mainly includes transportation and other allied services to facilitate the client like providing Loading, unloading, packing and unpacking of items. Services from company are mainly in the domestic market, more specifically in the state of West Bengal. This asset light business model allows for scalability of services as well as flexibility to develop and offer customized logistic solution across diverse sectors. They provide end-to-end safe mobility and delivery of items. The logistics industry in India is very unorganized and highly fragmented and the main challenges lies in quality, reliability, pricing and goodwill to mention the least.in India. The organization is well geared up in meeting to all these concerns and challenges and have put in place the necessary protocols to stay afloat in the marketplace with a difference.. Destiny Logistics & Infra Limited posted turnover/net profits (loss) of Rs.6.72 Cr. / 0.04 Cr. (FY19), Rs. 6.74 Cr. / 0.05 Cr. (FY20), Rs 10.05 Cr. / Rs. 0.30 Cr. (FY21). So company has shown improvement in results, but sudden rise in bottom line in FY21 is surprising. For the last three years, company has posted average EPS of Rs. 3.94 and RoNW of 18.80%. The issue is priced at a P/BV of 1 based on its NAVs of Rs. 20 post issue. As per FY21 earnings and on post issue fully diluted equity, IPO is valued at P/E of around 50.74, which looks very aggressively price. As per RHP, there is no listed peers. On BRLM's front, Finshore Management Services limited associated with this SME IPO and handled 16 IPOs in last 3 years. From last 10 IPOs, four opened below issue price and remaining above issue price. As of now from 10 IPOs, and six are trading below and remaining are trading above issue price or at par. ( As on 28.09.21 ) For Destiny Logistics & Infra Limited results are average, RoNW is 30.25%, P/E is around 51 for FY21 earnings, so issue looks aggressively priced. Logistics sector is highly competitive, but also has high growth opportunities. Performance of BRLM is not available. So we give AVOID rating to this SME IPO.

Fresh Issue

1
( Rs
2
To Meet Working Capital Requirements of the company. ( Rs 4.4/- Cr Rs )
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General Corporate Purpose. ( Rs 0.6/- Cr Rs )
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Public Issue Expenses. ( Rs 0.38/- Cr )
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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
8
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

2 Comments

M
mohd izhar 09 Oct 2021, 15:49

allotment aaya kya?
D
dsp rathote 05 Oct 2021, 16:22

kya chal raha h gmp

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY21	10.05	9.49	0.30
FY20	6.74	6.57	0.05
FY19	6.72	6.56	0.04

Open Date	Sep 30, 2021
Close Date	Oct 05, 2021
Allotment Date	Oct 11, 2021
Listing Date	Oct 13, 2021
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 20 Per Equity Share
Issue Size	Fresh Issue of Up to 26,94,000 with aggregating up to Rs 5.39/- Cr
Retail Min Lot	1 Lot (6,000 Shares - ₹ 1,20,000)
Lead Manager	Finshore Management Services Limited

Destiny Logistics & Infra Limited

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