Tag: Indian Market
The company aimed to raise Rs 1,039.61 crore via the primary route, which was entirely an offer for sale of 10,063,945 equity shares, with a face value of Rs 2 each by existing shareholders and promoters of the company. Investors PhonePe India, Zenrin, and Qualcomm held 19.15 percent, 8.78 percent, and 5.07 percent shareholding, respectively, in the company.
The IPO issue date was open from 09 to 13 December 2021. The lot size consisted of 14 shares. The price range was 1000- 1033 per equity share. The minimum amount of the subscription was INR 14,462 (01 lot) and maximum amount of subscription was 188,006 (13 lots). The Book Running Lead Managers of this IPO were Axis Capital, DAM Capital Advisors Ltd., JM Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited.
The public issue was subscribed 15.20 times in the retail category, 196.36 times in the QIB category, and 424.69 times in the NII category. The total subscription of the IPO was 154.71 times.
MapmyIndia listed on the bourses on 21 December 2021, with the listing price ₹1,581, a 54% premium.
The competitive strengths of MapmyIndia are; they are the pioneers of digital mapping in India having an early mover advantage, it is a leading the B2B and B2B2C market for digital maps and location intelligence in India, proprietary technology and network effect resulting in competitive edge, independent, global geospatial products and platforms company with strong data governance, prestigious customers across sectors with strong relationships and consistent profitable financial track record.
The digital maps offered by the company cover 6.29 Mn Km of roads in India, representing 98.50% of India’s road network. The company’s digital map data provides location, navigation, analytics, and other information for 7,933 towns, 6,37,472 villages, 17.79 Mn places across many categories such as restaurants, retail shops, malls, ATMs, hotels, police stations, electric vehicle charging stations, etc., and 14.51 Mn house or building addresses. The company’s ‘RealView’ maps provide actual roadside and on-ground views based on over 400 Mn geo-referenced photos, videos, and 360-degree panoramas across India.
About the company:
MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. The company is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS). The company provides products, platforms, application programming interfaces (APIs), and solutions across a range of digital map data, software, and IoT for the Indian market under the (MapmyIndia) brand, and for the international market under the (Mappls) brand. The company serves the BFSI, telecom, FMCG, industrials, logistics, and transportation sectors. MapymyIndia has also entered into various memorandums of understanding with key government organizations such as the Indian Space Research Organisation (ISRO), NITI Aayog, National eGovernance Division, Ministry of Electronics and Information Technology, and Government of India. Some of the company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, and Hyundai.
(Source: economictimes.com, chittorgarh.com)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Incorporated in 2006, Medplus Health Services is India’s second-largest pharmacy retailer. The company offers pharmaceutical and wellness products .
The IPO comprises a fresh issue of equity shares worth Rs 600 crore and an offer-for-sale (OFS) of Rs. 798.30 crore. The Medplus Health Service IPO opened at Dec 13, 2021, and closed at Dec 15, 2021 and listed on both NSE & BSE at Dec 23, 2021.The minimum lot size comprises 18 shares at a price band of Rs.780 -796 per equity share. A retail-individual investor can apply for up to 13 lots.
The objective of the issue is to fund the working capital requirement of the subsidiary, Optival; and for general corporate purposes.
Axis Capital, Credit Suisse Securities (India), Edelweiss Financial Services and Nomura Financial Advisory and Securities (India) were the managers to the offer.
Medplus Health Services IPO has got 50 per cent reserved for qualified institutional buyers (QIBs) and 15 per cent reserved for non-institutional investors (NIIs). The remaining 35 per cent of the issue is available for retail investors.
The scrip got listed at Rs 1,040.00 a piece on the National Stock Exchange (NSE), thereby registering a gain of 30.65 per cent from its offer price of Rs 796.00, while on the BSE, it opened at Rs 1,015.00, up 27.51 per cent from the issue price.
Medplus IPO Subscription Status
The Medplus Health IPO was subscribed 52.59 times on Dec 15, 2021.The public issue subscribed 5.24 times in the retail category, 111.90 times in the QIB category, and 85.33 times in the NII category.
About the Company
Incorporated in 2006, Medplus Health Services is India’s second-largest pharmacy retailer in terms of the number of stores and revenue. The company offers pharmaceutical and wellness products i.e. medicines, vitamins, medical devices, test kits, and fast-moving consumer goods i.e. home and personal care products, baby care products, sanitizers, soaps, and detergents, etc. It is also the first pharmacy retailer in India to offer an omnichannel platform wherein customers can purchase products through stores, place orders over the telephone, online orders, and a Click and Pick facility.
As of June 31, 2021, the company has a strong pharmacy retail network of 2,165 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra. In fiscal 2021, its share of the organized pharmacy retail based on revenue from operations in Chennai, Bangalore, Hyderabad, and Kolkata reported at 30%, 29%, 30%, and 22% respectively. It follows a cluster-based approach for store network expansion wherein it first opens high store density in a populated residential area within a target market. The company’s warehouses are located in Bengaluru, Chennai, Hyderabad, Vijayawada, Kolkata, Pune, Bhubaneshwar, Mumbai, and Nagpur.
(Source: DRHP of Medplus Health Services Limited IPO)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Kotak Bond is actively managed and run by an experienced team with a robust investment strategy. The fund has delivered consistent returns, and we believe it is a strong choice for investors who seek a quality portfolio and are willing to occasionally take a higher investment risk for higher returns.
Approach
The strategy is run using a team-based approach and has a strong fundamental process in place. The fund is more focused towards taking active duration bets and invests primarily in high-quality credits. Credit analysis is divided into banking, nonbanking financial companies, and manufacturing debt, further demarcated into three buckets based on the strength of the business, management, and corporate governance standards. The qualitative assessment is then followed by rigourous quantitative analysis wherein financial ratios such as leverage, coverage, and solvency ratios are considered.
Portfolio
In 2021, the manager maintained a high allocation to government securities mainly towards the medium and long end because of attractive yields. He is overweight at the medium end because he believes that, regardless of whether the yield went up or down, the middle of the segment would provide a good level of carry and roll-down advantage. At the same time, the steepness of the curve made the longer end of the curve look appealing. However, because of the uncertainty surrounding the rate hike, he kept a limited the fund avoids investing in anything below AAA segment and intermittently holds higher cash/money market instruments to take opportunistic trading calls when markets are bumpy.
People
Abhishek Bisen is an experienced manager who has been with the fund house since October 2006. He took over this fund in April 2008 along with Deepak Agrawal. From July 2015, Bisen has been sole manager after Agrawal moved out to manage credit and shorter-maturity funds. Bisen is well-engrained in Kotak’s philosophy, and his skills complement the investment process. The fixed-income strategies are run using a team-based approach that follows an inclusive culture. It fosters the collective input of the investment specialists closest to the source of investment information.
Performance
Abhishek Bisen has delivered robust returns during his tenure from April 2008 to November 2021. It ranked in the first quartile by outperforming 82% of its peers, delivering returns of 8.19% versus the category average of 7.39%. In 2021, he maintained a higher exposure to medium-duration bonds and government securities. This resulted in superior risk-adjusted returns for the fund. We believe the fund has the potential to outperform with its active investment strategy across interest-rate cycle.
(Source: Morningstar)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Approach
The investment philosophy is to optimise returns without taking excessive duration or credit risk. with most performance is driven by selecting securities offering attractive yields within the AAA rated segment. Expectedly, the investment approach relies on fundamental research. It entails combining qualitative aspects with quantitative analysis. This in turn helps the managers to determine issuer exposure they can take, thereby acting as a risk-management tool for the individual portfolio and the fund company. The investment team lays more emphasis on risk control, thereby focusing on balancing safety, liquidity, and return.
Portfolio
The fund’s investment mandate is to invest at least 80% of assets in corporate bonds having a rating of AA+ and above. Anupam Joshi’s emphasis on liquidity and risk control is borne out by the fund’s portfolio, where almost 100% of assets are invested in AAA or equivalent rated securities. Papers issued by public-sector undertakings such as NABARD, PFC, and REC continue to find a place in the portfolio. From the private sector, established names such as HDFC and Tata Sons, in which the manager has confidence, feature in the portfolio. On the duration front, the team believes interest rates will move up from where they are currently, but it will be a more gradual increase. In line with the same, the modified duration of the fund has been reduced in the past year to 2.72 years in November 2021 from 3.35 years in October 2020. Finally, Joshi will build cash when there aren’t attractive investment opportunities and to ride out periods of volatility and uncertainty.
People
Anupam Joshi joined HDFC Mutual Fund in October 2015 and has been managing this fund since then. Earlier, he was associated with IDFC Mutual fund as portfolio manager from 2008 till his exit from the fund house.
Performance
Under Anupam Joshi (October 2015-November 2021) the fund’s direct share class has clocked an annualised return of 8.45%, outperforming the category average (6.51%) and featuring in the top performance quartile. Under the difficult environment of 2020, the fund clocked a return of 12.09%, outperforming the category average of 9.10%. In 2021, too, the fund’s direct share class has delivered a top-quartile performance. The fund is also a top-quartile performer over the trailing one-, three- and five-year periods.
About the fund
The scheme seeks to generate income/capital appreciation through investments predominantly in AA+ and above rated corporate bonds. Its benchmark against NIFTY Corporate Bond Index. The investment strategy is well-defined for this fund, which also paves way for its effective and predictable execution. It’s a low-risk, short- to medium-duration strategy that works on the philosophy of optimising returns for investors without exposing them to excessive duration or credit risk. Therefore, investments are made only in AAA rated securities and the duration is maintained within a range of 1.0 to 4.0 years.
Joshi brings in his own style of investing while managing this fund. For instance, earlier the fund was managed with an approach of holding majority of investments till maturity, thus allowing a linear roll-down in its average maturity. Joshi prefers managing the fund more actively. The strategy has its limitations: In times when credit markets are buoyant, the fund may find it hard to match peers that, within the defined mandate of the category, can go down the credit curve. The fund may also struggle against peers that follow a more dynamic approach to duration management, compared with Joshi’s measured approach, during fast changing interest-rate scenarios.
(Source: Morningstar)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
The Rs 700 crore- IPO by the API manufacturer, Supriya Lifescience was issued from December 16 to 20, 2021. The issue price was in the range of INR 265-274 per equity share. The Book Running Lead Managers were Axis Capital Limited and ICICI Securities Limited.
Overall, the issue received bids for 1,03,89,57,138 shares against 1,45,28,299 shares on offer, according to NSE data. The IPO comprised a fresh issue of up to Rs 200 crore and an offer for sale of up to Rs 500 crore.
The subscription by QIBs was 31.83 times, NII category was subscribed 161.22 times, Retail investors subscribed 56.01 times, thereby making the entire subscription 71.51 times.
The pre-issue holding of promoters was 99.98%, which after issue is 68.24%. The scrip was listed on secondary market at INR 425 on BSE with premium of 55.11% and on NSE it was listed at INR 421.
Proceeds of the issue would be utilized for funding capital expenditure requirements of the company, repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company and general corporate purposes.
Supriya Lifescience looks forward to achieve continuous growth in coming years on account of strong fundamentals. Since past three to four years it has bee growing at the CAGR of 18%. The company has managed to maintain 40% EBITDA margin, which is due to their focus on penetrating into more regulated markets where we are able to get a much better average selling price for the existing products. They look forward to add more APIs into existing therapeutic categories apart from adding new therapeutic categories in their basket, like decongestants, anti-gout, xanthine derivatives and more vitamin derivatives. They wish to focus more on anti-anxiety therapies.
Supriya Lifescience envisages to expand across newer geographies and focus more on regulated markets like North America, Japan and China. Currently, twelve of the existing products are backward integrated and contribute about 65% of the total revenue and it continues to be their strategy for further capacity expansion and product developments as well. About Rs 92 crore of the amount that will be raised would be utilised for capacity enhancements by adding a new production block which would add further capacity.
About the company:
Supriya Lifescience is a manufacturer and supplier of active pharmaceutical ingredients (APIs) with a focus on research and development. As of October 31, it had niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and antiallergic. The API maker has consistently been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India, contributing to 45-50 per cent and 60-65 per cent, respectively, of the API exports from India, between fiscal 2017 and 2021.
(Source: economictimes.com)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.