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Should You invest In Shankara Building Products (SBPL) IPO

Should You invest In Shankara Building Products (SBPL) IPO:

Since Shankara Building Products (SBPL) IPO bidding is going to start from March 22,2017 – March 24, 2017 we thought to point out some of the factors which can help you in deciding that Should You invest In Shankara Building Products (SBPL) IPO or not.

Some of the Key points about Shankara Building Products is as follow:

  • The company is one of the leading organised retailers of home improvement and building products in India based on the number of stores, operating under the trade name Shankara BuildPro.
  • As on September 24, 2016, the company was operating 100 Shankara BuildPro stores, spread across 10 states in India.
  • The company primarily offer steel-based products, such as structural steel, TMT bars, pipes and tubes and other allied steel products.
  • Shankara Building Products has plans to utilise the net proceeds from the fresh issue towards repayment or prepayment of loans of the company as well as subsidiary Vishal Precision Steel Tubes and Strips (VPSPL) and to meet other general purposes.
  • For the financial year ended March 2016, the company had posted a net profit of Rs 65.56 crore against Rs 34.54 crore in the previous financial year ended March 2015. It had posted a net profit of Rs 42 crore, Rs 47.76 crore and Rs 44.75 crore in FY14, FY13 and FY12, respectively.
  • The company has strong vendor network with the relationship of over two decades. Shankara also has a presence across the entire value chain with robust back-end infrastructure ensuring efficient supply chain management.
  • The company lease most of the properties occupied by its retail outlets. As of August 31, 2016, 81 of its retail stores were operated from leasehold premises.

Financial Performance:

EPS for FY13-14 – Rs.13.13 (Page #73 of RHP)
EPS for FY14-15 – Rs.10.32 (Page #73 of RHP)
EPS for FY15-16 – Rs.18.90 (Page #73 of RHP)
EPS for 9M16-17 – Rs.19.00 (Not Annualized)

RoNW for FY13-14 – 12.30% (Page #74 of RHP)
RoNW for FY14-15 – 08.92% (Page #74 of RHP)
RoNW for FY15-16 – 14.22% (Page #74 of RHP)
RoNW for 9M16-17 – 12.51% (Not Annualized)

Grey Market Premium:

Current Grey Market Premium (GMP) of Shankara Building Products (SBPL) IPO is trading around Rs 128- Rs 130 per share which is priced at Rs 440 – Rs 460.

As per our analysis you should invest in Shankara Building Products (SBPL) IPO.

Market Update:

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Now Music Broadcast Ltd IPO (MBL IPO) bidding is over now. Now Music Broadcast IPO Allotment and Listing has been complete now.  While Avenue Supermarts Ltd IPO (DMart IPO) bidding also closed. Now Avanue Supermarts (Dmart) IPO Allotment and Listing will be in process.

Latest Grey Market Premium (GMP) of Avenue Supermarts Ltd IPO (DMart IPO) is between Rs 241 to Rs 243 per equity share. While Grey Market Premium (GMP) of Shankara Building Products Ltd (SBPL) IPO is trading between Rs 153 – Rs 55 per equity share.

After Avenue Supermarts IPO, next to open is CL Educate (CLEL) IPO between March 20, 2017 – March 22, 2017. While Shankara Building Products Ltd IPO (SBPL IPO) will be opening from 22 March 2017 – 24 March 2017. Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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