S.S. Infrastructure Development Consultants Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹37 – ₹40

Listed On

12 Apr 2018

Listing Price

₹42.95 (+7.38%)

Current Price LIVE

₹42.95 (+7.38%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	3,000	₹1,20,000
Retail (Max)	2	6,000	₹2,40,000
S-HNI (Min)	3	9,000	₹3,60,000
S-HNI (Max)	8	24,000	₹9,60,000
B-HNI (Min)	9	27,000	₹10,80,000

As per financials, company's performance is almost static, RoNW is 23.99% for last three fiscals and issue is reasonably priced as per latest earnings. Company has strong order book of Rs 125 Cr. So we give NEUTRAL rating to this SME IPO as per current market situation and investors may invest in this IPO for medium to long term.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	14,22,000	11,94,000	14,40,000	40,56,000
Day 1 28-03-18	0	2,79,000 (0.23)	6,78,000 (0.47)	9,57,000 (0.24)
Day 2 02-04-18	0	17,22,000 (1.44)	9,27,000 (0.64)	26,49,000 (0.65)
Day 3 03-04-18	0	19,74,000 (1.65)	13,65,000 (0.95)	33,39,000 (0.82)
Day 4 04-04-18	0	23,22,000 (1.94)	19,59,000 (1.36)	42,81,000 (1.06)
Day 5 05-04-18	22,86,000 (1.61)	2,92,71,000 (24.52)	1,54,14,000 (10.70)	4,69,71,000 (11.58)

Started in 2007, Hyderabad based S.S. Infrastructure Development Consultants Private Limited is engaged in the business of Engineering Consultancy and is an Integrated Infrastructure Development solution provider in India. The Company provides Architectural Planning, Comprehensive Civil/Structural designs, Project Management Consultancy, Repairs and Rehabilitation, Quality Management Systems through well-qualified teams and experienced promoters. S.S Infrastructure mainly participates in the tenders floated by the Government authorities, Corporate establishments and other business entities. It has executed large projects for organisations like Cyient Limited (formerly known asInfotech Enterprises Limited), Granules India Limited and Government Organisations. The company has 115 employees on its payroll. On financial performance front, SSIDC has posted total income/net profits of Rs. 18.83 cr. / Rs. 2.27 cr. (FY13), Rs. 18.55 cr. / Rs. 2.63 cr. (FY14), Rs. 28.31 cr. / Rs. 3.83 cr. (FY15), Rs. 26.62 cr. / Rs. 3.42 cr. (FY16) and Rs.24.68 cr. / Rs. 3.80 cr. (FY17). So last three fiscals top line has shown declining trends and bottom line remained zig-zag. However, for the H1 of FY18, it has earned net profit of Rs. 2.80 cr. on revenue of Rs. 14.60 cr. indicating surge in top and bottom lines. As on 21.03.18 it has order book of Rs. 125 crore. Currently its revenue mix is Govt. v/s Private is 80:20 approx; which will transpire in 60:40 ratios going forward. For last three fiscals it has posted an average EPS of Rs. 4.60 and an average RoNW of 23.99%. Issue is priced at a P/BV of 1.61 on the basis of its NAV of Rs. 24.80 as on 30.09.17. If we annualise latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 10 against industry average of 67. It has shown Mold Tek, ATV Proj and Artefact as its listed peers and are trading at a P/E of around 25, 0.35 and -8 (as on 21.03.18 on BSE). However, all these peers are not strictly comparable. As per latest earnings, issue looks reasonably priced. On merchant banker's front, this is 65th mandate from its stable in last three fiscals. Out of last 10 listings, 1 opened at discount to offer price, 1 just Rs. 0.05 paise up on offer price, 7 with a premium ranging from 4% to 20% and 1 (main board issue) with a premium of 130% on the offer price on the day of listing. As per financials, company's performance is almost static, RoNW is 23.99% for last three fiscals and issue is reasonably priced as per latest earnings. Company has strong order book of Rs 125 Cr. So we give NEUTRAL rating to this SME IPO as per current market situation and investors may invest in this IPO for medium to long term.

Fresh Issue

1
Renovation of existing offices and Opening of new branch officePurchasing of software and hardwareRepayment of Secured & Unsecured loans availed by the CompanyFunding the working capital requirements of the CompanyGeneral Corporate Purposes
2
Renovation of existing offices and Opening of new branch office
3
Purchasing of software and hardware
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Repayment of Secured & Unsecured loans availed by the Company
5
Funding the working capital requirements of the Company
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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
9
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
10
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
11
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
12
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

48 Comments

I
IPO Guru 12 Apr 2018, 13:00

@paras, for ongoing issue in detail page there is link which shows latest subscription data.
P
paras 12 Apr 2018, 11:19

Sir, how to check the no of times subscribe evey hour
K
kapil 12 Apr 2018, 09:38

10% up
C
C.A 12 Apr 2018, 09:37

listing price
T
Tejas 12 Apr 2018, 09:29

plz check
T
Tejas 12 Apr 2018, 09:29

listing today
C
C.A 12 Apr 2018, 09:24

Here some people's are very little knowledge who are telling listing on 12 th,I already told you listening only on 13 th.
I
IPO Guru 12 Apr 2018, 09:14

gmp says 3-5 up from issue price
A
Akshay Patel 11 Apr 2018, 23:14

any prediction?
A
Akshay Patel 11 Apr 2018, 23:14

SSINFRA list tomorrow
C
C.A 11 Apr 2018, 23:00

listing should be 13/4/18
I
IPO Guru 11 Apr 2018, 22:39

listing of S S Infra will be tomorrow on 12th April.
I
IPO Guru 11 Apr 2018, 14:39

5-10%
T
Tejas 11 Apr 2018, 13:56

@ipoguru whats ur call on listing??how much upside possible??
T
Tejas 11 Apr 2018, 12:04

2/3
M
mm 11 Apr 2018, 10:12

0/1
P
parshwa 11 Apr 2018, 10:11

Reply Zero out of one Didn't received allotment after SHARIKA.... Tough luck yaar ðŸ§..
I
IPO Guru 11 Apr 2018, 00:18

allotment status is available now.
L
lucky 07 Apr 2018, 18:11

thanx ipo guru
I
IPO Guru 07 Apr 2018, 10:50

@KD, when you apply for sme ipo, at that time amount get blocked and on allotment its debited from account.
I
IPO Guru 07 Apr 2018, 10:48

kotak and Hdfc not allow 5 application. For Hdfc bank application till 3 pm allowed
I
IPO Guru 07 Apr 2018, 10:47

@all, subject to price 5k, so 5-10% gain possible.
L
lucky 07 Apr 2018, 10:41

timing for last day subscription hdfc and kotak bank and can be apply 5 application one account this bank plz
T
Tejas 06 Apr 2018, 22:49

@ipoguru whats ur view now?? allotment and listing??
C
C.A 06 Apr 2018, 14:18

All brokers are not dealing in SME shares
K
KD 06 Apr 2018, 14:03

when i apply for sme ipo that time i want to pay money or after allotment i pay money
I
IPO Guru 06 Apr 2018, 11:41

@KD, application for sme IPOs are similar like normal ipo, but they are traded in lots, so minimum amount involved is above 1 lakh in normal cases.
K
KD 05 Apr 2018, 22:38

ok sir
C
C.A 05 Apr 2018, 22:38

SME = small and medium enterprise , for more details contact your broker
K
KD 05 Apr 2018, 21:49

i am new here. i donâ€™t know what is the meaning of SME ipo and how to apply on thos type of ipo
S
SANJAY PARMAR 05 Apr 2018, 17:55

Update subscription details
I
IPO Guru 05 Apr 2018, 15:54

if your bank allows, then you may.
S
santhosh 05 Apr 2018, 15:45

subscription crossed 4 times with QIBs fully subscribed... can we still apply @ipoguru
P
parshwa 05 Apr 2018, 14:51

applied for 3000share i.e 1lot after looking at subscription figures, good va,uation parameters, pantomoth as LM, hoping for good market scenario for listing gain
C
C.A 05 Apr 2018, 14:36

must apply very good issue and subscribe
I
IPO Guru 05 Apr 2018, 13:35

its only 1.8 times overall means just fully subscribed
B
Bhavya 05 Apr 2018, 13:34

Sir subscription is good
I
IPO Guru 05 Apr 2018, 13:34

around 1.8 times overall subscription
I
IPO Guru 05 Apr 2018, 13:33

financial performance is not so good and market situation makes it risky.
I
IPO Guru 05 Apr 2018, 13:32

no
B
Bhavya 05 Apr 2018, 13:25

Is this active in grey market
B
Bhavya 05 Apr 2018, 10:32

Guru what is your view on this ipo
C
C.A 05 Apr 2018, 10:11

fairvalue more than 80
C
C.A 05 Apr 2018, 10:11

very good ipo
I
IPO Guru 03 Apr 2018, 14:38

no one looking 100% sure for listing gain. But if want to take risk, than soni soya is little bit better.
V
vansh 03 Apr 2018, 09:21

mmp, avg, s.s, soni soya among these scripts wgich should be more profitable at listing ?? @ipo guru
I
IPO Guru 25 Mar 2018, 15:42

one may apply but 50:50 chance of listing gains.
A
anshul 24 Mar 2018, 13:24

sir apply or not

Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY18	14.60	10.37	2.80
FY17	24.68	19.14	3.80
FY16	26.62	21.31	3.42
FY15	28.31	22.40	3.83
FY14	18.55	14.64	2.63
FY13	18.83	15.25	2.27

Open Date	Mar 28, 2018
Close Date	Apr 05, 2018
Allotment Date	Apr 11, 2018
Listing Date	Apr 12, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 37 to ₹ 40 Per Equity Share
Retail Min Lot	1 Lot (3,000 Shares - ₹ 1,20,000)
Lead Manager	Pantomath Capital Advisors Private Limited

S.S. Infrastructure Development Consultants Limited

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