TLDR;
The video provides a review of several IPOs opening and closing soon, including SME and mainboard issues. The reviewers discuss company details, financials, risks, and potential for listing gains, offering insights and recommendations on whether to apply for each IPO. They also highlight their "Know Your Promoter" series and Instagram channel for additional IPO information.
- Zelio E-Mobility, Valplast Technologies, Munish Forgings, Sheel Biotech, and Infinity Infoways are reviewed.
- Advanced Agrolife, a mainboard issue, is also discussed.
- The reviewers express caution due to the high volume of IPOs and market conditions.
Opening Remarks [0:00]
The video is an IPO review session for the fifth week of September, evaluating seven companies. Due to the Gandhi Jayanti and Dussehra holidays, the session will be shorter, focusing on five SME IPOs and one mainboard IPO. The reviewers emphasize that they are not SEBI registered and advise viewers to conduct their own due diligence, considering their analysis as just one perspective. They also promote their "Know Your Promoter" interview series on YouTube and encourage viewers to share the channel with friends.
Zelio E-Mobility (SME) [2:31]
Zelio E-Mobility, incorporated in 2021, manufactures and assembles electric vehicles, including two-wheelers under the Zelio brand and three-wheelers. The IPO size is ₹78 crores, with a fresh issue of ₹63 crores and an offer for sale (OFS) of ₹15 crores. The company's market cap is ₹290 crores, representing a 28% dilution. In FY25, the company reported revenue of ₹174 crores and a profit of ₹16 crores. They source components from China, assemble in Haryana, and sell through a B2B network of 300-350 dealers across 20 states. The company is offering extended warranties and color options for the festive season, along with a scheme of three vehicles for ₹80,000. The reviewers express zero interest in applying for this IPO.
Valplast Technologies (SME) [9:14]
Valplast Technologies, incorporated in 2014, is a civil engineering and construction company specializing in structural waterproofing, injection grouting, and pre-cast concrete work, with a focus on tunneling. The IPO size is ₹28 crores, entirely a fresh issue, with a market cap of ₹106 crores, representing a 26-27% raise. In FY25, the company reported revenue of ₹65 crores and a profit of ₹6 crores. The company started as Reneesco, a subsidiary of Swiss company Marty Group, and has experience in defense projects, though details are undisclosed. They have a ₹250 crore order book and expect 60-70% growth this year. The company is coming at 17x trailing. The reviewers consider it a "betable company" from a 6-9 month perspective if the defense story plays out.
Munish Forgings (SME) [19:40]
Munish Forgings, incorporated in 1986, manufactures forging and casting components, including flanges, scaffolding, auto parts, tank tracks, and bombshells, serving the Indian Army and industries like defense, oil and gas, and construction. The IPO size is ₹74 crores, all of which is a fresh issue, with a market cap of ₹231 crores. In FY25, the company reported revenue of ₹180 crores and a profit of ₹14 crores. 70% of revenues comes from exports and 30% is from domestic. Tank tracks contribute 10-12% of revenue. The company is one of the sole suppliers of tank chains for specialized Russian tanks. The reviewers express a lack of interest in the issue, waiting for more clarity on new verticals and margins.
Sheel Biotech (SME) [28:47]
Sheel Biotech, incorporated in 1991, specializes in biotechnology, floriculture, greenhouses, and organic projects, growing and supplying plants for various crops through tissue culture and organic farming. The IPO is ₹34 crores, all fresh issue, with a market cap of ₹128 crores, representing a 26% dilution. In FY25, the company reported revenue of ₹102 crores and a profit of ₹10.6 crores. The company provides landscaping services, tissue culture, and greenhouse construction. 56% of the revenues from B2G. The reviewers express concerns about the company's high receivables and inventory, skipping the company for now.
Advance Agrolife (Mainboard) [47:05]
Advance Agrolife, incorporated in 2002, manufactures a wide range of agrochemical products, including insecticides, pesticides, and fertilizers. The IPO is ₹193 crores, all fresh issue, with a market cap of ₹643 crores, representing a 29% dilution. In FY25, the company reported revenue of ₹502.3 crores and a profit of ₹25 crores. The company is a B2B business, manufacturing for other companies. The reviewers are not very excited for long-term point of view but risk takers can evaluate for small listing.
Closing Remarks [58:10]
The reviewers summarize their plans for the upcoming week, including covering the IPOs of VW, Tata Capital, and LG Electronics. They highlight the importance of their "Know Your Promoter" series and encourage viewers to check out the interviews on YouTube. They also ask for feedback on their Instagram reels and whether viewers would be interested in one-minute reviews of companies.