Ascom Leasing & Investments Ltd IPO

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(i) The company was incorporated in the year 1986 and started the business as NBFC in 2001 with the mission of providing services to economically active poor who are not adequately served by the financial institutions.

(ii) The company is engaged in the business of finance, hire purchase, leasing and lending terms loans, mortgage financing.

(iii) The customers of the company include first-time buyers of vehicles, self-employed and professional or nonprofessional individuals, small and medium entrepreneurs and customers with informal income and limited banking and credit history.

(iv) As of June 30, 2019, they have around 2000 plus active customers. Company operations are concentrated in the State of Gujarat Only. Being the NBFC – Non-Deposit company, the company is not entitled to take a deposit from the general public. And the company sources the funds from the promoter investments and Bank funding.

Ascom Leasing & Investments Ltd IPO Stock Quote & Charts

30.65

+0.82%

  • Open: 30.40
  • High - Low: 30.65 - 30.30
  • Previous Close: 30.40
  • Total Traded Volume: 40000
  • Updated On: 12-Dec-2019

Objects of the Ascom Leasing & Investments Ltd IPO:

The Issue comprises of Fresh Issue up to 21,08,000 Equity Shares, aggregating to Rs.632.40 Lakhs by the Company. They intend to utilize the proceeds of the Fresh Issue to meet the following objects: a) For the purpose of onward lending, financing and augmenting the capital base. b) General corporate expenses. c) To meet the Issue Expenses.

Ascom Leasing & Investments Ltd IPO Details:

Open Date: Nov 26 2019
Close Date: Nov 28 2019
Total Shares: 2,108,000
Face Value: ₹ 10 Per Equity Share
Issue Type: fixed issue
Issue Size: 6.32 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 30 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 06 2019

Promoters And Management:

(i) Mr. Tushar Rohit Kumar Pandya, aged 42 years, is the Promoter and Managing Director of the Company having more than 15 years of experience in the finance industry. (ii) Mr. RohitKumar Balvantrai Pandya, aged 70 years, is the whole-time Director of the company and holds rich experience in the finance industry. He is a retired Sr. manager working with Bank of Baroda a possesses the required skills and management to operate the Non-Banking Financial Institution.

Financials of Ascom Leasing & Investments Ltd IPO:

(i) Revenues in Financial Years 2017, 2018 and 2019 were ₹3.66 Crores, ₹6.24 Crores, and ₹9.14 Crores. (ii) PAT in Financial Years 2017, 2018, 2019 was ₹ 0.49 Crores, ₹ 4.44 Crores, ₹ and 3.45 Crores. (iii) The P/B stands post-issue stands at 1.06.

Comparison With Peers:

As per RHP, Ascom Leasing & Investments Ltd IPO has shown Bajaj Finserve, Kama Holdings, LKP Finance, and Edelweiss Financial as its listed peers. However, they are not strictly comparable as the size of operations of these peers is very large as compared to Ascom Leasing and Investment Ltd.

Recommendation on Ascom Leasing & Investments Ltd IPO:

Review and Recommendation of InvestorZone is: 3/10

Lead Manager of Ascom Leasing & Investments Ltd IPO:

  1. Fast Track Finsec Private Limited

Registrar of Ascom Leasing & Investments Ltd IPO:

  1. Skyline Financial Services Private Ltd

Bid Details of Ascom Leasing & Investments Ltd IPO as on
28-Nov-2019 18:30:00 IST

Category No.of shares offered No. of shares bid
1,000,000 1,920,000
1,000,000 1,028,000
108,000 108,000
2,108,000 3,056,000
QIBs Yes
QIBs+HNIs Subscription 1.92X
Retail Subscription 1.03X
Total Subscription 1.47X

Discussion on Ascom Leasing & Investments Ltd IPO: