Bonus/Right Issue  candidates (Intimation of Ex-dates/Record dates of the following Bonus/Right issue Shares)

Bonus Issue                 Ratio       Ex-date/Record date
---------------------             ----------     ------------------------------

Kitex Garments            2:5        22.06.17/23.06.17
Biocon                             2:1                  RD 17th June
Godrej Cons.Prod.         1:1                  ----
Petronet LNG                 1:1                  ----
Plastiblends                     1:1                  ----
Munjal Auto                      1:1                  ----
GPI Infra                          1:1                  ----
Motherson Sumi                1:2                  -----
PC Jewellers                     1:1                 RD 7th July
Maan Aluminium                1:1                  ----
BPCL                                1:2             13.07.17/15.07.17  
Igarishi Motors                    ----                  ----
Wipro                                1:1              13.06.17/14.06.17
Mahindra Holiday Resort     1;2               10.07.17/11.07.17
HPCL                                1:2               11.07.17/12.07.17          
ICICI Bank                         1:10              20.06.17/22.06.17
Sanwaria Agro                    1:1               03.07.17/04.07.17
L&T                                   1:2               13.07.17/14/07/17
Muthoot Capital                   1:10             12.06.17/13.06.17
Shilpi Cables                        ---                    -----

Right Issue
---------------------

Shalimar Paints  Not  yet announced Premium/ Ex-date/Record date.

HUDCO IPO TO BE LAUNCHED 

ON 

8-MAY-2017

PRICE BAND RS.56-60, DISCOUNT RS.2

Housing and Urban Development Corporation Limited (HUDCO), a Miniratna (Category-I Public Sector Enterprise) company of the Government of India is going to raise funds through the way of Initial Public Offerings (IPO).

State-run Housing and Urban Development Corporation (HUDCO) has decided to launch its initial public offering on May 8 and set a price band at Rs 56-60 per share.

The IPO comprised sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS).

The issue will close on May 11 and anchor investors' portion will open for subscription on May 5.

The company aims to raise Rs 1,121 crore at lower end of price band and Rs 1,201.1 crore at higher end of price band.

HUDCO IPO details
Subscription Dates	8 - 11 May 2017
Price Band	INR56 - 60 per share
Fresh issue	Nil
Offer For Sale	204,058,747 shares (INR1,224.3 crore)
Total IPO size	204,058,747 shares (INR1,224.3 crore)
Minimum bid (lot size)	200 shares
Face Value	INR10 per share
Retail Allocation	35%
Listing On	NSE, BSE

HUDCO IPO – Schedule
05th May : Anchor Investors subscription
08th May – Offer Opens
10th May – Bank Holiday for Buddha Pournima
11th May – Offer Closes
17th May – Finalisation of Basis of Allotment
18th May – Unblocking of ASBA
19th May – Credit to Demat Accounts
19th May – Listing on NSE & BSE

The Housing and Urban Development Corporation Limited (HUDCO) has more than 46 years’ experience in providing loans for housing and urban infrastructure projects in India. The Miniratna company’s total outstanding loan portfolio was INR361,119.3 million as of September 30, 2016. Out of this, INR112,951.1 million, or 31.28%, were for Housing Finance loans and INR248,168.2 million, or 68.72%, were Urban Infrastructure Finance loans and project-linked bonds.

HUDCO classifies its housing finance loans into social housing, residential real estate and retail finance, which is branded as HUDCO Niwas.  Under social housing, the ultimate beneficiaries of the loans are borrowers belonging to the economically weaker sections (EWS) of the society, which is defined as families with household income of INR300,000 per annum or less, and borrowers belonging to the lower income group (LIG), which is defined as families with household income from INR300,001 per annum to INR600,000 per annum. Under residential real estate, the ultimate beneficiaries of the loans are public and private sector borrowers for housing and commercial real estate projects, including land acquisition. Such housing and commercial real estate projects cater primarily to the middle-income group and high-income group of society.

Under urban infrastructure finance, HUDCO makes loans for projects relating to water supply, roads and transport, power, emerging sectors, which includes SEZs (special economic zones), industrial infrastructure, gas pipelines, oil terminals and telecom sector projects, commercial infrastructure which includes shopping centres, market complexes, malls-cum-multiplexes, hotels and office buildings, social infrastructure and area development, and sewerage, drainage and solid waste management. HUDCO’s borrowers under Urban Infrastructure Finance are primarily State Governments and their agencies. It ceased sanctioning new Urban Infrastructure Finance loans to entities in the private sector in March 2013.

Promoters of HUDCO: The President of India

The President of India as promoter

HUDCO is promoted by the President of India who also owns all shares in the company (2,001,899,300 directly and 700 through its nominees). The President acts through the Ministry of Housing and Urban Poverty Alleviation, Government of India, the Ministry of Rural Development, Government of India and the Ministry of Urban Development, Government of India.

In other words, the government of India has full control of the company. Since the company is totally owned by the President of India, there are no external investors. This is understandable as HUDCO is a PSU. Directly or indirectly through various ministries or departments, the government owns PSUs.

Solid Financial Performance

HUDCO boasts of strong financial performance including consistently increasing revenues and strong profitability. The company’s top-line has increased in each of the last four years and looks on track of doing an encore this year as well. Similarly, its proven business model means profits have remained strong and have followed a growth trajectory in the timeframe.

HUDCO’s sustained performance and profitability earned it the Miniratna status in fiscal 2005. While its earnings have improved, profitability has slipped a bit in the latest six months. Nevertheless, net profit margin at 19.9% is still quite strong for a company of this size.

HUDCO’s consolidated financial performance (in INR crore)
	FY2012	FY2013	FY2014	FY2015	FY2016	6M FY2017
Total revenue	2,778.6	2,921.3	3,002.9	3,427.8	3,302.2	1,748.2
Total expenses	1,838.9	1,880.6	1,877.8	2,258.0	2,230.6	1,228.3
Profit after tax	621.6	699.7	734.0	768.3	774.3	348.2
Net margin (%)	22.4	24.0	24.4	22.4	23.4	19.9

HUDCO IPO will be a darling of dividend investors

Being a profitable PSU, HUDCO pays regular dividend and this is something retail investors will find attractive. The company is required to pay a minimal annual dividend of 30% of its profit after tax (PAT) or 5% of its net worth, whichever is higher. Although this was not maintained in the latest financial year, the dividend rate of 5% was still quite attractive. Even after the IPO, the government will remain the biggest shareholder which means there is no reason to believe that this dividend policy will change.

Increasing urbanization means outlook bright for HUDCO

Everyone keeping eyes and ears open knows that urban India is witnessing a massive inflow of working population from rural parts of the country, but here are some statistics. India’s urban population increased from 222 million in 1990 to 410 million in 2014 and is expected to reach 814 million by 2050. More importantly, the figure in 1990 made 26% of India’s population but increased to 32% in 2014. Going by the forecasts, half of India is expected to live in cities by 2050. Coming from our low base, this may appear a drastic change but India ranks pretty low in urbanization. According to data from the government of India and World Economic Forum (WEF), China (54%), Indonesia (53%), Mexico (79%), Brazil (85%) and Russia (74%) are much ahead of India in terms of urbanization rates.

CLICK ON FOLLOW button TO GET UPDATES AND REVIEWS ON UPCOMING IPO’S

CL Educate

CL Educate IPO to open on March 20

CL Educate is a diversified and integrated technology-enabled provider of education products, services, content and infrastructure, with a presence across the education value chain. Since commencing operations in 1996, it has diversified operations across six business segments, spanning the education value chain:

1. Test preparation and training services, generally referred to as “test prep”, conducted under Career Launcher brand.

2. Publishing and content development, conducted under GK Publications brand.

3. Integrated business, marketing and sales services for corporates, conducted under Kestone brand, including event management, marketing support (including digital marketing support), customer engagement, managed manpower and training services.

4. Vocational training programs implemented under Government schemes in various States across India.

5. Integrated solutions to educational institutions and universities, including business advisory and outreach support services, under CL Media brand, as well as research incubation and support services conducted under the Accendere brand; and.

6. K-12 schools operated under Indus World School brand.

Promoters of CL Educate: Satya Narayanan R, Gautam Puri, Nikhil Mahajan, R. Shiva Kumar, Sreenivasan R, Sujit Bhattacharyya and Bilakes Consulting Private Limited.

CL Educate IPO details
Subscription Dates	20 - 22 March 2017
Price Band	INR500 - 502 per share
Fresh issue	2,180,119 shares (INR109.4 crore at upper end)
Offer For Sale	2,579,881 shares (INR129.5 crore at upper end)
Total IPO size	4,760,000 shares (INR238.9 crore at upper end)
Minimum bid (lot size)	29 shares
Face Value	INR10 per share
Retail Allocation	35%
Listing On	NSE, BSE

Company Financials:

Summary of financial Information
Particulars	For the year/period ended (in Rs. Million)
	30-Sep-16	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12
Total Assets	3852.74	3789.34	3253.44	1838.88	1782.94	1707.98
Total Revenue	894.46	1738.46	1558.47	1247.42	1355.23	1021.74
Profit After Tax (PAT)	71.34	49.18	76.59	23.57	67.43	(53.76)

Objects of the Issue:

The object of the issue are:

1. Funding Working Capital requirement of the Company:
2. Acquisitions and other strategic initiatives;
3. Pre-payment of outstanding amount of a debt; and
4. General corporate purposes.

Should you invest?

So finally, we come back to the question if CL Educate IPO is good enough for subscription. There is no denying that Career Launcher is quite a strong and well-known brand and that it operates in an industry where demand of its services is unlikely to dip. The test preparation industry as of now is estimated at INR378 crore (INR3.78 billion) and continues to grow in double-digit percentage rates. The narrative for the necessity for coaching has not changed much in these years. High competition for the limited seats in even more limited quality institutions have ensured that parents spend a higher share of their income levels on coaching. This is all too well-known to our readers, so we will not spend much time here.

CL Educate is strong company but it is not really a high entry-barrier business which means there are always new entrants willing to spoil pricing for established players. The digital evolution of new generation is also a threat. CL Educate has also not been able to maintain steady profitability, despite very strong cash flows. This means we need rely on valuations to arrive at the investment decision. The EPS of 18.37 in FY2016 means CL Educate IPO is priced at a PE ratio of 27.5. This is not very high for a growing business. The situation has improved further in the latest six months and annualized EPS brings down PE ratio to 23.2. Given the natural downside of extrapolation, it is better to not take FY2017 estimates too seriously.

Analysts, however, are not very upbeat on the issue, as high valuation may not offer much scope for an upside on the stock.

If you enjoyed the article, please share to friends, family,colleagues and keep reading.

Shankara Building Products to raise up to Rs 400 crore through IPO

Mar 22, 2017 - Mar 24, 2017

About The Company

The company is one of the leading organised retailers of home improvement and building products in India based on number of stores, operating under the trade name Shankara Build Pro. As on August 31, 2016, it operated 98 Shankara BuildPro stores spread across 10 states in India. As on September 24, 2016, it operated 100 Shankara BuildPro stores spread across 10 states in India. It caters to a large customer base across various end-user segments in urban and semi-urban markets through its multi-channel sales approach, processing facilities, supply chain and logistics capabilities.

It serves home owners, professional customers (such as architects and contractors), and small enterprises, through retail stores. Additionally, in the semi urban markets, it also caters to specific agricultural requirements of individual customers and small enterprises. Under retail operations, it offers a comprehensive range of products at its stores, including structural steel, cement, TMT bars, hollow blocks, pipes and tubes, roofing solutions, welding accessories, primers, solar heaters, plumbing, tiles, sanitary ware, water tanks, plywood, kitchen sinks, lighting and other allied products. The company carries reputed third party brands such as Sintex, Uttam Galva, Uttam Value, Futura, APL Apollo and Alstone and  own brands such as Century Roof, Ganga and Loha at the  retail stores.

In Fiscal 2016, its revenue from retail sales was ‘8,077.56 million which contributed 39.68% of its total sales as of Fiscal 2016 representing a CAGR of 28.67%, as compared to its revenue from retail sales in Fiscal 2012, being ‘2,947.20 million. The balance revenue during this period comprised of enterprise sales, contributing 32.20% and channel sales contributing 28.13% of the total revenue.

It has backward integrated through its processing facilities in select building products like steel pipes, colour coated roofing sheets, bright rods, galvanized strips and cold rolled strips. Its sells these products under its own brands like Century Roof, Ganga, Loha, Taurus and Prince Galva through the retail and branch network. Its own processing facilities help to offer customized solutions and meet quality standards as well as timely delivery requirements of its customers. It has 11 processing facilities having a total installed capacity of 2,86,200 MTPA operating at an average capacity utilization of 93.75% in Fiscal 2016.

To cater to its customers, it has  a robust logistics network which, as of August 31, 2016, consisted of 58 warehouses aggregating 0.58 million sq. ft., and a fleet of 47 owned trucks to augment  last mile delivery. A large part of its warehousing backbone is owned which ensures stability of operations. It also helps in catering to the requirements of its retail outlets. With an aim to offer a comprehensive range of products, it has expanded its product offerings and as of August 31, 2016, product portfolio comprised of 17,842 SKUs.

Company Promoter

Sukumar Srinivas.The Promoter, Sukumar Srinivas is an alumnus of the Indian Institute of Management Ahmedabad, and a first generation entrepreneur.

Company Financials

Summary of financial information

Particulars	For the year/period ended (in Rs. Million)
	31-Dec-16	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12
Total Assets	6,046.35	5,913.15	5,505.20	5,956.44	5,724.80	4,559.90
Total Revenue	14,576.79	17,750.07	17,204.70	18,840.21	17,024.89	13,855.32
Profit After Tax (PAT)	137.38	109.77	42.47	193.38	271.24	277.75

Objects of the Issue

The main objects of the issue are:

1.    Repayment or pre-payment of loans of the Company and VPSPL

2.    General corporate purposes

3.    Receive the benefits of listing of the Equity Shares on the Stock Exchanges

4.    Enhancement of Company’s brand name and creation of a public market for   the Equity Shares in India.

ISSUE DETAILS

ISSUE OPENS / CLOSES ON	Mar 22, 2017 - Mar 24, 2017
ISSUE SIZE	Fresh Issue of Rs. 45 crores and  Offer for sale of 816252 shares by the Promoter and 5705488 shares by selling shareholders.
PRICE BAND	Rs. 440 - Rs. 460 Per Equity Share
MARKET LOT	32 Shares
LISTINGS	BSE, NSE
FACE VALUE	Rs.10
BRLM	IDFC Bank, Equirus capital, HDFC bank
ISSUE TYPE	Book Build Issue IPO
BUSINESS	Mfrs of building products -TMT, Cement, Scaffolding, Msand, Steel Pipes, Roofing Solution, Plumbing, Electrical, Paints, Tiles, Exterior cladding, Solar products, etc
REGISTRAR	Karvy

An indicative timetable in respect of the Offer

• ·         21th March – Anchor Investors
• 
  
• ·         Bid/Offer Opens On: Mar 22, 2017
• 
  
• ·         Bid/Offer Closes On: Mar 24, 2017
• 
  
• ·         Finalisation of Basis of Allotment: On or about Mar 30, 2017
• 
  
• ·         Initiation of refunds: On or about Mar 31, 2017
• 
  
• ·         Credit of Equity Shares to demat accounts: On or about Apr 03, 2017
• 
  
• ·         Commencement of trading of the Equity Shares: On or about Apr 05, 2017