Skytech Infinite Platform IPO

About this issue

Skytech Infinite Platform is an SME issue priced at ₹77 a share. One lot is 1,600 shares, which costs ₹1,23,200. The book is 0.09 times subscribed overall. The grey market premium is +₹13 (+16.9%), which is an informal figure and not a quoted price. Our call is Apply, on 86% of our checks. This is provisional while bidding is open.

Segment

SME

Price

₹77

Lot size

1,600 shares

One lot costs

₹1,23,200

Issue size

₹22 Cr

Grey market premium

+₹13 (+16.9%)

Subscribed

0.09x

Our call

Apply

What we checked

• Profitable in the latest yearPAT ₹4.2 Cr
• Profit grew year on yearPAT +13%
• Revenue grew year on yearRevenue +15%
• Margin not collapsingPAT margin 8.2% vs 8.1%
• Borrowing under half of net worthDebt/net worth 0.49
• Return on net worth above 15%RoNW 25.1%
• Majority is fresh capital100% fresh issue
• Promoters keep at least half70.0% held post-issue
• Anchor investors participatedNo anchor book
• Lead manager above segment medianFinshore Management Services Ltd.: 46 past issues, +19% 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.