E2E Networks Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹57

Listed On

15 May 2018

Listing Price

₹85 (+49.12%)

Current Price LIVE

₹85 (+49.12%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	4,000	₹2,28,000
HNI Min	3	6,000	₹3,42,000

As per financials, company's performance is exceptional, RoNW is 33.28% and issue is reasonably priced as per latest earnings. As Government is focusing on increasing digital foot print in India, this will help companies in this sector indirectly, but a new lead manager may be a thing to concern. So we give "SUBSCRIBE FOR LONG TERM" rating to this SME IPO as per current market situation.

Started in 2009, Haryana based E2E Networks Limited is in the business of, providing Cloud Infrastructure in India. The company provides its services through Third Party Data Centers situated at Noida, Mumbai, and Vellore. E2E launched contract-less computing in India, way back in 2009. It followed it up by launching an hourly billed pure SSD (Solid-State-Drive) public cloud and private cloud. The company's Cloud Infrastructure has been used by many well-known companies across industries like E-Commerce, Digital Classified, BFSI and a whole host of new-age digital businesses. E2E has 76 employees on its payroll. As per financial performance front, ENL has posted total revenue/net profits of Rs. 3.01 cr. / Rs. 0.26 cr. (FY13), Rs. 5.19 cr. / Rs. 0.28 cr. (FY14), Rs. 9.93 cr. / Rs. 0.84 cr. (FY15), Rs. 21.47 cr. / Rs. 2.22 cr. (FY16) and Rs. 29.53 cr. / Rs. 4.21 cr. (FY17). For upto Q3 of the FY18 it has earned net profit of Rs. 5.26 cr. on a turnover of Rs. 27.21 cr. Thus year after year it has posted improved performance. For last three fiscals it has posted an average EPS of Rs. 2.60 and an average RoNW of 33.28%. The issue is priced at a P/BV of 3.19 on the basis of post issue NAV of Rs. 17.87. If we annualise latest earnings and attribute it on fully diluted equity post issue then asking price is at a P/E of around 12 against industry average of 942 (as shown in offer documents). As per offer documents, its peer 8KMiles is trading at a P/E of around 549 (as on 27.04.18). So issue looks reasonably priced. Surprisingly company has shown NAV of Rs. 9.63 as on 31.03.17. This is first IPO from the lead manager 'Holani Consultants Private limited'. As per financials, company's performance is exceptional, RoNW is 33.28% and issue is reasonably priced as per latest earnings. As Government is focusing on increasing digital foot print in India, this will help companies in this sector indirectly, but a new lead manager may be a thing to concern and this sector has very tough competition with global players. So we give "SUBSCRIBE FOR LONG TERM" rating to this SME IPO as per current market situation.

Offer for Sale

1
Offer for SaleCompany will not receive any proceeds from the Offer for Sale. Fresh Issue(a) Working Capital requirements(b) General Corporate Purposes
2
Offer for SaleCompany will not receive any proceeds from the Offer for Sale.

Fresh Issue

1
Fresh Issue(a) Working Capital requirements(b) General Corporate Purposes
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

I
IPO Guru 23 Jan 2019, 15:03

this is time to get entry and not to exit in market. I won't suggest to buy this stock, but this is not the time to sell it.
N
Namrata Kumayu 21 Jan 2019, 14:22

ipo guru, plz suggest wat to do with this lot at current position with a price of 46..
A
Aditya 17 May 2018, 07:40

hold
P
Prakash 17 May 2018, 06:56

ab kya kare
A
Aditya 15 May 2018, 14:00

maza he agaya hai
I
IPO Guru 15 May 2018, 11:35

Price is available in NSE
H
Hrry 15 May 2018, 10:18

sbhi bhaiyo ko badhai jinhe allotment ayi he......
K
kapil 15 May 2018, 10:04

superb performance by new lm
P
p gajjar. 15 May 2018, 10:04

ya 360000 circuit
K
kapil 15 May 2018, 10:03

89
P
p gajjar. 15 May 2018, 10:03

what should be do at this price ....89
G
Guru 15 May 2018, 09:44

I want to sell!
G
Guru 15 May 2018, 09:42

price available where? NSE or BSE
K
kapil 15 May 2018, 09:38

75now
G
Guru 15 May 2018, 09:38

what is the price available to buy or sell
G
Guru 15 May 2018, 09:37

Today supposed to be listed but not getting listed quote on NSE or BSE
P
Pratik 14 May 2018, 15:54

ok
I
IPO Guru 14 May 2018, 15:54

last active gmp was 10-12 and no update after that.
P
Pratik 14 May 2018, 15:46

What is Gmp ?
P
Pratik 14 May 2018, 15:46

Thanks Prakash
P
Prakash 14 May 2018, 15:40

best of luck
P
Pratik 14 May 2018, 15:40

any buyer ? what price ?
P
Pratik 14 May 2018, 15:40

I have 1 alloted app
P
Prakash 14 May 2018, 15:37

1 month double ur money
P
Prakash 14 May 2018, 15:37

yes
A
Aditya 12 May 2018, 20:36

20000 rupees iska matlab to?
I
IPO Guru 12 May 2018, 10:41

gmp is 10-12 per share
A
Aditya 11 May 2018, 17:20

1/4
P
Prakash 11 May 2018, 15:35

0/1
C
CA Manish Rathi 11 May 2018, 15:34

0/1
M
mm 11 May 2018, 15:31

0/1
R
Rakesh 11 May 2018, 15:28

0/1
R
Rakesh 11 May 2018, 15:27

allotment out
P
p gajjar. 11 May 2018, 13:30

money blocked at 12 pm....
R
Rakesh 11 May 2018, 13:12

allotment after 3 pm
P
p gajjar. 11 May 2018, 12:57

kotak
Y
yogesh dave 11 May 2018, 12:56

which bank sms
P
p gajjar. 11 May 2018, 12:43

bank massage
P
Pratik 11 May 2018, 12:40

where u have checked ?
P
Pratik 11 May 2018, 12:40

available on website ??
P
p gajjar. 11 May 2018, 12:39

1/1 allotted...
C
C.A 08 May 2018, 20:19

jab allot hoga tab application sell hoge ki apply kar diya and sell kar diya .
I
IPO Guru 08 May 2018, 15:36

@tejas, it moving up with latest subscription.
I
IPO Guru 08 May 2018, 15:36

around 12k
D
Dev 08 May 2018, 13:30

IPO guru listing gan Kaya rahega E2E ka
P
Prakash 08 May 2018, 12:50

yes I want to sell 2 application
V
vipul 08 May 2018, 12:30

30000 listing gain any one want to sell ?
Y
Yogesh 08 May 2018, 11:53

today sub2
T
Tejas 08 May 2018, 00:07

@ipoguru r u sure expected listing gain just rs.5500??
I
IPO Guru 07 May 2018, 19:50

data updated.

As on Date	QIB	RII	Total
Shares Offered / Reserved	18,32,000	18,32,000	36,64,000
Day 1 03-05-18	9,88,000 (0.54)	4,84,000 (0.26)	14,72,000 (0.40)
Day 2 04-05-18	26,06,000 (1.42)	19,02,000 (1.04)	45,08,000 (1.23)
Day 3 07-05-18	24,59,20,000 (134.24)	2,49,24,000 (13.60)	27,08,44,000 (73.92)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
upto Q3 FY 18	27.21	20.04	5.26
FY 17	29.53	23.22	4.21
FY 16	21.47	18.15	2.22
FY 15	9.93	8.66	0.84
FY 14	5.19	4.79	0.28
FY 13	3.01	2.63	0.26

Open Date	May 03, 2018
Close Date	May 07, 2018
Allotment Date	May 11, 2018
Listing Date	May 15, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 57 Per Equity Share
Issue Size	Total Equity Shares of 38,58,000 with aggregating up to Rs 21.99/- Cr Fresh Issue of Up to 27,50,000 with aggregating up to Rs 15.68/- Cr Offer for sale Up to 11,08,000 with aggregating up to Rs 6.32/- Cr
Retail Min Lot	1 Lot (2,000 Shares - ₹ 1,14,000)
Lead Manager	Holani Consultants Private Limited

E2E Networks Limited

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