Reblog: Cochin Shipyard IPO Review


Cochin Shipyard Ltd. (CSL) is a PSU enjoying “Miniratna” status and the largest public sector shipyard in India in terms of dock capacity, as of March 31, 2015, according to the CRISIL Report. CSL caters to clients engaged in the defense sector in India and clients engaged in the commercial sector worldwide. In addition to shipbuilding and ship repair, it also offers marine engineering training. As of May 31, 2017, the company has two docks – dock number one, primarily used for ship repair (“Ship Repair Dock”) and dock number two, primarily used for shipbuilding (“Shipbuilding Dock”). CSL’s Ship Repair Dock is one of the largest in India and enables it to accommodate vessels with a maximum capacity of 125,000 DWT and Shipbuilding Dock can accommodate vessels with a maximum capacity of 110,000 DWT.

Now CSL is in the process of constructing a new dock, a ‘stepped’ dry dock (“Dry Dock”). This stepped dock will enable longer vessels to fill the length of the dock and wider, shorter vessels and rigs to be built or repaired at the wider part. It is also in the process of setting up an International Ship Repair Facility (“ISRF”), which includes setting up a shiplift and transfer system. In the last two decades, company has built and delivered vessels across broad classifications including bulk carriers, tankers, Platform Supply Vessels (“PSVs”), Anchor Handling Tug Supply vessels (“AHTSs”), launch barges, tugs, passenger vessels and Fast Patrol Vessels (“FPVs”). The company is currently building India’s first Indigenous Aircraft Carrier (“IAC”) for the Indian Navy. It has also grown ship repair operations and is the only commercial shipyard to have undertaken repair work of Indian Navy’s aircraft carriers, the INS Viraat and INS Vikramaditya.

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Reblog: HUDCO IPO review


Housing & Urban Development Corp Ltd, popularly known as “HUDCO” that recently celebrated its 47th anniversary on 25th April 2017 and enjoying “Mini Ratna” status among PSUs is breaking the ice after a gap of 5 years (since April 2012) with a maiden IPO from a PSU. This wholly owned GoI Company is engaged in urban and rural housing as well as infrastructure project financing and has a track record of profit generation and dividend distribution since inception. It enjoys AAA rating for its debt plans from rating agencies like CARE, ICRA and IND Ra to have low cost debts.. Its housing finance loan is classified as social housing, residential real estate and retail finance (branded as Hudco Niwas). Under social housing Hudco is financing economically weaker sections/ lower income groups of the society.

For urban infrastructure finance, Hudco distributes loans relating to water supply, roads and transport (including railways and ports), power, SEZs, gas pipelines, oil terminals, telecom network, market complex, shopping centres, hotels, office buildings, sewerage, drainage, solid waste management etc.

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Reblog: Avenue Supermarts DMart IPO review


Issue Summary

Avenue Supermarts Ltd (ASL) is an emerging national supermarket chain (D mart) , with a focus on value-retailing. According to Technopak, in Fiscal 2016 ASL was one of the largest and the most profitable F&G retailer in India. It offers a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories. ASL opened its first store in Mumbai, Maharashtra in 2002. As of January 31, 2017, it had 118 stores with Retail Business Area of 3.59 million sq.ft, located across 45 cities in Maharashtra (59), Gujarat (27), Telangana (13), Karnataka (7), Andhra Pradesh (4), Madhya Pradesh (3), Chhattisgarh (1), NCR (1), Daman (1) and Rajasthan (2). At the end of the nine months period ended December 31, 2016 and Fiscals 2016, 2015 and 2014, the company had 117, 110, 89 and 75 stores with Retail Business Area of 3.57 million sq. ft., 3.33 million sq. ft., 2.66 million sq. ft. and 2.14 million sq. ft., respectively.

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Reblog: BSE Ltd IPO review


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Issue Summary

After demonetization, the market went for tail spin with standstill activities in the primary market. However, the long waited IPO of BSE is taking a lead to break the ice for CY 2017 as well as final quarter of FY16-17 as the first main board IPO.

BSE LTD (erstwhile known as The Bombay Stock Exchange) is the premier and the oldest stock exchange of Asia (established on 9th July 1875) and has become the most trustworthy brand as far as stock market is concerned and has become the synonyms with its Sensex and Dalal Street.

Today BSE is the world’s largest exchange by number of listed companies (5,329), India’s largest and world’s 10th largest exchange by way of market capitalization, with US$ 1.7 trillion in total market capitalization of all listed companies and the world’s fastest stock exchange. It has now also become the first stock exchange to go public in India and has thus become the first mover. BSE has diversified products for trading is also providing IT services and solutions, listing business, marketing business, data business etc.

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