TLDR;
Alright, so this video by Sunday Investing gives a rundown of eight IPOs that are coming up. They cover a mix of SME and mainboard IPOs, talking about the company background, financials, growth potential, and risks. The general idea is to give you enough info to decide if you want to dig deeper and maybe apply for these IPOs. They also highlight that this is just their opinion, and you should do your own research before investing.
- JD Cables, Prime Cables, Ecoline Exim, Saatvik Green Energy, Bharat Rohan Airborne, Ivalue Info, GK Energy are discussed.
- Key aspects covered include company financials, growth prospects, risks, and management quality.
- The speakers emphasize the importance of individual due diligence before investing in any IPO.
Opening Remarks [0:00]
The video kicks off with a welcome to "Primary Market Chatter" by Sunday Investing. They're diving into the IPO scene for the week of September 4th, which is jam-packed with around 27 IPOs. They're aiming to cover eight IPOs in this session, keeping each review concise. They stress that they aren't registered analysts, and their opinions are just that – opinions. So, do your own homework before making any investment decisions. They also encourage viewers to join the YouTube channel for promoter interactions and IPO-related content.
JD Cables (SME) [1:53]
JD Cables, incorporated in 2015, manufactures high-quality cables and conductors for the power transmission and distribution sector. Their product range includes power cables, control cables, and aerial bunched cables. The IPO size is ₹96 crores, with ₹85 crores being a fresh issue and ₹11 crores an offer for sale. The company's market cap is ₹343 crores. In FY25, they had a top line of ₹250 crores and a PAT of ₹22 crores, resulting in a PAT margin of around 9%. They have five BIS licenses for different cables and conductors, which are difficult to obtain due to rigorous testing and third-party certifications.
JD Cables primarily supplies to state government power utilities and private EPC contractors, focusing on eastern and northeastern India. They are now planning to expand into north and west India. The company sources raw materials like aluminium and copper from multiple sources and mitigates price volatility by diversifying suppliers and maintaining sufficient inventory. They operate two manufacturing units in West Bengal and have an outstanding order book of ₹300 crores, scheduled to be completed in 12 to 18 months. The management aims to sustain a margin of 12%. They are also doing forward integration with direct EPC projects.
Prime Cables (SME) [14:48]
Prime Cables, established in 1997, is an Indian cable manufacturing company known for producing a wide range of cables and wires, including low-voltage PVC wires, control cables, and aerial bunched cables under the brand name Prime Cab. The IPO size is ₹40 crores, with ₹35 crores being a fresh issue and the rest an offer for sale. The company has a market cap of ₹152 crores. In FY25, they had a top line of ₹141 crores and a bottom line of ₹7.5 crores.
Prime Cables focuses on control cables and power cables, manufacturing everything from power generation to transmission to distribution. They are primarily in the low-voltage segment. The company has a capacity of about 34,000 kilometers, with 44% utilization. They are planning to move into the medium-voltage segment. The company is empanelled with 14 states and also does project work in a few other states, totaling 20-22 states. They have all the necessary BIS approvals and a testing lab. The promoters are confident that the growth should continue and the margins still have some more room to grow.
Ecoline Exim (SME) [23:45]
Ecoline Exim, incorporated in 2008, manufactures sustainable cotton and jute packaging and promotional bags for global exports. These bags are used as packaging solutions for supermarkets, retail chains, wholesalers, and promotional companies. The IPO size is ₹76.5 crores, with ₹61 crores being a fresh issue and the rest an offer for sale. The company has a market cap of ₹289 crores. In FY25, they had a top line of ₹273 crores and a bottom line of ₹19 crores.
Ecoline Exim produces functional bags (83% of revenues) and promotional bags (17% of revenues). Almost 100% of the revenues come from exports to more than 25 countries. They have three manufacturing units, with factory one and factory two utilizing 90% capacity and the third one utilizing around 80% capacity. They have around ₹88 crores of orders in hand. In FY23, they did ₹310 crores of revenues, which dropped to ₹280 crores in FY24 and ₹273 crores in FY25. The company is trying to increase its focus on Latin American countries and increase its domestic presence.
Saatvik Green Energy (Mainboard) [31:40]
Saatvik Green Energy, incorporated in 2015, manufactures solar module products and offers EPC services for solar modules. It has a manufacturing capacity of 3.8 gigawatts as of June. The IPO size is ₹900 crores, with ₹700 crores being a fresh issue and ₹200 crores an offer for sale. The company has a market cap of ₹6,000 crores. In FY25, the revenue was ₹2,192 crores and the PAT was ₹214 crores.
Saatvik Green Energy has an order book of 4.0 gigawatts. The company plans to set up a 4 GW solar module capacity, which should get live in Q4 of FY26 or Q1 of FY27, and a 4.828 GW solar cell capacity, which should get live in FY27. The company also has plans to enter ingot and wafer manufacturing. Out of the fresh issue, ₹474 crores is kept towards capex for the new module manufacturing capacity and ₹177 crores is going towards repayment of debt.
Bharat Rohan Airborne (SME) [39:14]
Bharat Rohan Airborne, incorporated in 2016, is an agri-solutions provider focusing on drone UAV platforms and hyperspectral imaging technology. The IPO size is ₹45 crores, all of which is a fresh issue. The company has a market cap of ₹170 crores. In FY25, the revenue was ₹28 crores and the PAT was ₹7.8 crores, resulting in a PAT margin of 30%.
Bharat Rohan uses drones and hyperspectral imagery to diagnose fields and give farmers specific advice. They sell the advice, the right inputs (fertilizers, biouels), and the crops that come out from these fields. They have three business lines: assessing the field, selling inputs, and selling the produce. The core part that differentiates them is the imagery and figuring out the real-time status of the field. The company went from 3,000 farmers to 12,000 farmers from FY24 to FY25, and the revenue went from ₹11 crores to ₹14 crores.
Ivalue Info (Mainboard) [47:21]
Ivalue Info Solutions, incorporated in 2008, is a technology services and solutions provider specializing in enterprise digital transformation. The company operates across India, SAARC region, and Southeast Asia. The IPO size is ₹560 crores, all of which is an offer for sale. The company has a market cap of ₹1,600 crores. In FY25, the revenue was ₹942 crores and the PAT was ₹85 crores.
Ivalue Info acts as a bridge between OEMs and system integrators, deploying solutions for their end customers. The technology they deploy is a mix of end-to-end solutions, cyber security, and enterprise technology. The revenue split is between cyber security (45% of revenues), life cycle management (22%), data center infrastructure (17%), and cloud (14%). They have a network of around 109 OEMs and 810 system integrators. The company is targeting around 20 to 25% growth and is also looking to expand in the regions of Bangladesh, Sri Lanka, Bhutan, and Nepal.
GK Energy (Mainboard) [58:20]
GK Energy, incorporated in 2008, provides EPC services for solar-powered agricultural water pump systems under component B of the central government's PM Kusum scheme. The IPO size is ₹464 crores, with ₹400 crores being a fresh issue and ₹64 crores an offer for sale. The company has a market cap of ₹3,100 crores. In FY25, the top line was ₹1,095 crores and the bottom line was ₹133 crores.
GK Energy operates in an asset-light model, sourcing solar pumps, solar panels, and related components from third-party vendors and branding them as GK. The company has 12 warehouses in three states. The company is also intending to set up a 1-gigawatt solar panel manufacturing unit, which should get live in September 2026. The company has an order book of ₹1,029 crores, with 98% for solar pumps and 2% for rooftop solar. The company is projecting close to 65-70% growth.
Closing Remarks [1:04:26]
The video wraps up by listing the companies they still need to cover in future sessions, including Atlanta, Ganesh Consumer, Anand Rathi, and others. They acknowledge the difficulty in keeping track of the numerous IPOs coming up and promise to post their reviews closer to the dates, even if they can't do another live session. They thank viewers for joining and sign off.