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Know Your IPO: Tiger Logistics (India)

By Priyanka Kumari | 8/8/2013 5:59 PM Thursday

Delhi-based Tiger Logistics (India) (TLIL) is the first company in the logistics sector to file a DRHP for listing on the BSE SME platform. The company has planned to offer 11.40 lakh equity shares, aggregating to Rs 7.52 crore. In this issue, equity shares will cost the public Rs 66 per share. The issue also includes a reservation of 58000 equity shares for market makers out of the total offered size. Sarthi Capital Advisors is the lead manager for this issue. The issue will open on 27 Aug this year and will close on 29 Aug 2013.  

TLIL provides logistics services for its clients and started its logistics services in the year 2000. It is engaged in third party logistics operations. It has a registered office in Delhi and branches in Mumbai, Pune, Mundra, Ludhiana and Kolkata. TLIL offers its services in many sectors including automobiles, aviation, consumer durables, agri & perishable products and chemicals.

The company is raising funds to the tune of Rs 7.52 crore to meet its working capital requirement. It has a total capital requirement of Rs 1154 crore. It intends to employ Rs 6.4 crore from the issue proceeds, and will invest Rs 5.24 crore from internal sources to fulfil the overall requirement.

On the financial front, TLIL's revenue came in at Rs 123 crore in FY13 by showing a growth of 17% on a YoY basis. Due to the increase in operating expenses, the total expenditure for the company increased by 17% to Rs 117 crore. Its EBITDA stood at Rs 5.8 crore. The bottomline stood at Rs 3.4 crore for FY13, over that of Rs 2.81 crore in FY12. Moreover, the company saw a CAGR of 11.5% in its revenues over the five-year period. Its net profits for the same period recorded a CAGR of 20%.

The company has quoted a price of Rs 66 per share, and with this, its share price will trade at a FY13 PE of 8.22x. Other listed players in this sector including Gati, Allcargo Logistics, Transport Corporation of India and Gateway Distriparks are presently trading at a TTM PE of 21.6x, 5.2x 6.7x and 8.7x respectively. In comparison with its peers, TLIL has quoted a higher price for the issue.

The logistics sector primarily depends on four factors – good infrastructure, reforms in governmental policy, increase in trading, and last but not the least, consumption growth. Logistics cost in India is higher as compared to that in developed countries due to poor infrastructure, which results in inadequate service quality. Brand name also plays a critical role in this space, and this company enjoys no brand recognition. Considering all these factors, we advise investors to stay away from the issue.

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Mid Market Commentary May 26

Mid Market Commentary May 26

Indian stock markets continued with the buying spree where Nifty hit just below the 8000 mark while SENSEX hit 26000 levels by gaining nearly 150 points. On an intraday basis markets remain range bound so far, ahead of May F&O expiry.

Gail India elevates on impressive Q4 earnings

Gail India elevates on impressive Q4 earnings

The shares on Thursday have increased over 1.15 per cent on an intra – day basis and are trading at Rs 885.70. The shares are up by 6 per cent in the duration of 6 months. The share prices are up, nearly after 2 weeks; good results have certainly boosted the investment sentiment in the stock.

16 IPOs cleared so far by SEBI in 2016 alone

16 IPOs cleared so far by SEBI in 2016 alone

SEBI has approved so far in this year alone launching of 16 IPOs from various sectors with companies  looking to fund capital expansion and working capital.

 

L&T up by 12 percent courtesy capital goods policy

L&T up by 12 percent courtesy capital goods policy

The capital good policy attempts to address key issues relating to availability of finance, technology, raw materials and productivity. A long term stable and rationalised tax and duty structure will be created that will facilitate creation of a globally competitive capital goods sector in India.

Godrej Industries' net profit dips in Q4FY16

Godrej Industries' net profit dips in Q4FY16

Godrej Industries has declared its Q4FY16 results on May 25. The company’s revenue has increased by 10.99 per cent to Rs 2563 crore in Q4FY16 as compared to same period in previous financial year.

Tata Steel has nerves of steel; shows recovery

Tata Steel has nerves of steel; shows recovery

Indian steel giant, Tata Steel has posted a net loss for the second straight quarter but its losses narrowed as compared to the losses it incurred in the same quarter last year. All in all Tata Steel saw a recovery in Indian operations and decline in European losses.

Shares dilution now a new method to raise capital

Shares dilution now a new method to raise capital

The new trend looks feasible as by the sale of 1 to 2 per cent stake companies are able to collect a good chunk of money in a reckless manner. For instance, in the last week VRL Logistics diluted its 2 per cent stake to start its new airlines venture.

Index trend and stocks in action May 26, 2016

Index trend and stocks in action May 26, 2016

The Indian market got off to a blistering start and this was in line with global markets. Buying was seen in recently beaten down stocks and the banking stocks too helped market to surge higher. Nifty on the daily time frame has formed a ‘Bullish Marubozu’, which indicates buyers were aggressive throughout the trading session.

Market may remain volatile due to F&O expiry today

Market may remain volatile due to F&O expiry today

Asian markets opened in the mix on Wednesday after overnight gains in oil prices pushed U.S. stocks higher. On the domestic front, A SGX Nifty 50 index future for May series is trading up by 24 points at 7,967. Indian markets are likely to open flat and going forward may remain volatile due to F&O expiry Thursday.

PSU distress: FM to meet executives on June 6

PSU distress: FM to meet executives on June 6

Finance Minister Arun Jaitley will meet all the executives of the loss making public sector banks on June 6 to discuss about the stressed assets, and analyse the several different  reasons for the losses. This move of the Finance Minister will be generally welcomed by the executives as the issue requires serious discussion and result oriented action.

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siddheshwar prasad May 26 02:06PM
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Niveza India May 26 02:00PM
#STOCK #MARKET #TIPS #NIVEZA :: Nifty reclaims 8000 for 1st time since Nov 2015, Sensex up 250 pts Visit @ Niveza
king maker May 26 01:54PM
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siddheshwar prasad May 26 01:48PM
I am going to sell the share of axis bankkk..
Magical Money May 26 01:23PM
how high axis will go ??