Naapbooks Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹71 – ₹74

Listed On

15 Sep 2021

Listing Price

₹77 (+4.05%)

Current Price LIVE

₹77 (+4.05%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	1,600	₹1,18,400
Retail (Max)	2	3,200	₹2,36,800
S-HNI (Min)	3	4,800	₹3,55,200
S-HNI (Max)	8	12,800	₹9,47,200
B-HNI (Min)	9	14,400	₹10,65,600

For Naapbooks Limited, financials are average, RoNW is 23.18%, P/E is around 29 for FY21. So issue looks aggressively priced. Software consultancy business has very huge opportunities and growth would be good for next couple of years, but this sector is highly competitive. So we give AVOID rating to this SME IPO.

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	2,54,400	2,54,400	5,08,800
Day 1 01-09-21	0 (0.00)	1,21,600 (0.48)	1,21,600 (0.24)
Day 2 02-09-21	27,200 (0.11)	2,83,200 (1.11)	3,10,400 (0.61)
Day 3 03-09-21	40,000 (0.16)	3,90,400 (1.53)	4,30,400 (0.85)
Day 4 06-09-21	1,52,640 (0.60)	6,43,632 (2.53)	8,03,904(1.58)

Naapbooks Limited, started in 2017, is Ahmedabad Gujarat based company and engaged in the business of developing and providing Information Technological solutions to corporates for their requirements means Software Consultancy Services. The company develops and provides Fintech App, Cloud Consulting, Blockchain App, Mobile App, Web App, Embedded App products to its clients. The services broadly covers designing, developing, operating, install installing analyzing, designing, maintaining, converting, porting, debugging, coding and programming software to be used on computer or any microprocessor-based device or any other such hardware. Company's business operations are majorly divided in following two categories:a. Information Technology Solution Servicesb. Software Solutions As on date of this Red Herring Prospectus, company has 39 employees. On the financial performance front, Naapbooks Limited reported turnover/net profits (loss) of Rs. 2.21 cr./ 0.14 cr. (FY19), Rs. 2.25 cr./ 0.32 cr. (FY20) and Rs. 2.71cr. / Rs. 0.47 cr. (FY21). So company has shown growth in top-line, but bottom-line remained almost static. For the last three years, company has posted average EPS of Rs 4.37 and RoNW of 39.01%. The issue is priced at a P/BV of 4.81 based on its NAVs of Rs. 15.37 as on 31.03.21. As per FY21 earnings, on fully diluted equity post issue, IPO is priced at P/E of around 29.28, which looks very aggressively priced as company is very small and we may find better options available in open market. Comparison between listed peers is shown in above table as per RHP, but they are not comparable as peers companies are IT giants and Naapbooks is too small. On BRLM's front, GYR CAPITAL ADVISORS PRIVATE LIMITED associated with this SME IPO, and not handled any IPOs in last three fiscal years. For Naapbooks Limited, financials are average, RoNW is 23.18%, P/E is around 29 for FY21. So issue looks aggressively priced. Software consultancy business has very huge opportunities and growth would be good for next couple of years, but this sector is highly competitive. So we give AVOID rating to this SME IPO.

Fresh Issue

1
Funding the working capital requirements of the company ( Rs 2/- Cr )Funding purchases of equipment ( Rs 0.5/- Cr )Marketing initiatives ( Rs 0.4/- Cr )General Corporate Purposes
2
Funding the working capital requirements of the company ( Rs 2/- Cr )
3
Funding purchases of equipment ( Rs 0.5/- Cr )
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Marketing initiatives ( Rs 0.4/- Cr )
5
General Corporate Purposes
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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.

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY21	2.71	2.06	0.47
FY20	2.25	1.81	0.32
FY19	2.21	2.02	0.14

Open Date	Sep 01, 2021
Close Date	Sep 06, 2021
Allotment Date	Sep 13, 2021
Listing Date	Sep 15, 2021
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 71 to ₹ 74 Per Equity Share
Issue Size	Fresh Issue of Up to 5,39,200 with aggregating up to Rs 3.99/- Cr
Retail Min Lot	1 Lot (1,600 Shares - ₹ 1,18,400)
Lead Manager	GYR Capital Advisors Private Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Naapbooks Limited Current	4.81	29.28	23.18%	2.71
Infosys Limited	10.28	39.32	26.23%	1,02,673.00
Happiest Minds Technologies Limited	38.60	140.92	27.10%	797.65
Tech Mahindra Limited	5.50	31.02	17.47%	38,642.20

Naapbooks Limited

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