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Shree Balaji Mala IPO

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About this issue

Shree Balaji Mala listed at +90.0% against its issue price of ₹70. The book is 200.34 times subscribed overall. The grey market premium is +₹56 (+80.0%), which is an informal figure and not a quoted price. Our call is Apply, on 86% of our checks.

Segment: SME
Price: ₹70
Lot size: 2,000 shares
One lot costs: ₹1,40,000
Issue size: ₹18 Cr
Grey market premium: +₹56 (+80.0%)
Subscribed: 200.34x
Listed at: +90.0%
Our call: Apply

What we checked

Profitable in the latest yearPAT ₹5.85 Cr
Profit grew year on yearPAT +18%
Revenue grew year on yearRevenue +10%
Borrowing under half of net worthDebt/net worth 2.51
Post-issue P/E under 40P/E 11.8
Price to book under 6P/B 2.3
Majority is fresh capital100% fresh issue
Anchor investors participatedAnchor book placed
Overall book more than 10× covered200.3× overall
Lead manager above segment medianGYR Capital Advisors Pvt.Ltd.: 61 past issues, +73% avg vs +8% segment median

5 further checks could not be judged, because the issue did not disclose enough. They count neither for nor against.

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