Bombay Super Hybrid Seeds Ltd IPO

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(i) The Manufacturer and Supplier firm Bombay Super Hybrid Seeds Pvt. Ltd. was established in the year 2000 to take responsibility to strengthening the agriculture industry by dealing in premium grade Agricultural Seeds. We are instrumental in rendering a wide assortment of ISO 9001:2008 certified quality products including Sesame Seeds, Guar Seeds, and Coriander Seeds. Our products are widely utilized for its pure cultivation, moisture proof packaging, high yield assurance and longer shelf life. We deals in own brands like Kasturi and Bombay.

(ii) In the agricultural segment our offered products are highly demanded for its unique capability of reducing operating cost and maximizing margins. Further owing to the longevity of our hygienically processed seeds, our vast product line also finds its applications in food and beverages industry. We take pride in our advanced manufacturing and processing facilities that heightens the standard of safety and reliability of our products. Moreover, we exist to empower our prestigious clients‘ business by rendering cost effective products with maximum assurance of quality. Our commitment to deliver every product with timely awareness equips us to carve a niche in the industry by earning highest levels of client satisfaction.

(iii) The product ranges of company has jumped to more than 27 crops with more than 111 varieties in span of just 8 years with expansion in Gujarat, Maharashtra, Rajsthan, Madhya Pradesh, Andra Pradesh and Karnatak with necessary approved licence. The Company has also successfully established distribution net work of 350 plus dealers. We have also established state of art fully equipped seed processing unit and seed testing laboratory

Bombay Super Hybrid Seeds Ltd IPO Stock Quote & Charts

135.00

-2.17%

  • Open: 135.00
  • High - Low: 135.00 - 135.00
  • Previous Close: 138.00
  • Total Traded Volume: 1000
  • Updated On: 17-Oct-2018

Objects of the Bombay Super Hybrid Seeds Ltd IPO:

1. Working Capital Requirement 2. Repayment of Loan 3. General Corporate Purpose 4. Issue Expense

Bombay Super Hybrid Seeds Ltd IPO Details:

Open Date: Apr 12 2018
Close Date: Apr 17 2018
Total Shares: 17,32,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 10.39 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 60 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 25 2018

Promoters And Management:

(i) MR. Arvindkumar Jadavjibhai Kakadia ,aged 34 years, he is designated as Chairman and Managing Director and also the Promoter of our Company. He is associated and actively engaged in managing the company since its incorporation. He has more than 18 years of experience in the Agriculture industry.He is playing vital role in formulating business strategies and effective implementation of the same. He is entrusted with the responsibility of expansion and overall management of the business of our Company, along with this He actively grab opportunities to expand our business and take it to new height at international Market. He is involved in taking major policy decision of the Company and has been actively involved in taking various approval regarding seeds and other matters from state and central government .His leadership abilities have been instrumental in leading the core team of our Company very effectively & efficiently. (ii) MR. Kiritkumar Jadavjibhai Kakadiaaged, 37 years,he is designated as Whole-time Director and promoter of our Company. He is actively engaged in company since its Incorporation .He has rich and vast experience of 18 years in agriculture industry.He is entrusted with the responsibility of looking after matters relating to accounting and finance management of our Company. With his wide experience he effectively co-ordinate and manage human resource of our company. He efficiently undertakes networking with distribution channel of our company.

Capital Structure:

(i) Authorized Share Capital ( 70,00,000 shares at FV@10) 7 cr
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue (48,26,580   Shares at FV@10) 4.826 cr
 (iii) Present Issue (17,32,000 Shares at FV@10) 1.732 cr
(iv) Reservation for Market Maker (  88,000 Shares at FV@10) 8.8 lac
(v) Net Issue to Public (17,32,000-96000=  16,44,000 Shares) 1.644 cr
(vi) QIB & HNI Quota- 8,22,000 50%
(vii) Retail Quota- 8,22,000 50%
(viii) Paid Up Share Capital after the issue 6.558 cr

Financials of Bombay Super Hybrid Seeds Ltd IPO:

 1. Balance Sheet Snippet[ Financials as on Dec 2017]
       (i) Shareholders’ Fund[Equity] Value 534.02 lac
      (ii) Asset 2826.55 lac
      (iii) Liability 2292.53 lac
      (iv) Debt/Equity 4.29(very high)
      (v)  Net Worth(Asset- Liability) 534.02 lac
     (vi)  RONW(PAT/Net Worth) 16%
2.  Profit n Loss Snippet (i) The Revenue of the company in last 5 years is growing at CAGR of 43.96%[Excellent]. (ii) The PAT of the company in last 5 years is growing at CAGR of 33%[Excellent]. (iii)The EBITDA Margins of last 5 years are: 4.58%(FY13),4.18%(FY14), 2.84%(FY15), 1.94%(FY16) and 1.29%(FY17). Though the company's Revenue is excellent but continuous falling of EBITDA margins in last 5 years is a serious concern. (iv) Annualized EPS(post issue)=  1.75 (v) P/B(post issue)= 7.36(very high). (vi)  Annualized P/E(post issue)=34[Highly priced] at the cutoff price of 60
3. CashFlow Statements The Company's Cash Flow in the FY 2016-17 is negative which does not augur well for the company growth in future.

Comparison With Peers:

Sr.No Name of the Company FV EPS as on 31.03.2017 PE as on 22.02.2018 RONW
1 Mangalam Seeds Limited 10 5.98 25.5 13.18%
2 Kaveri Seeds Company limited 2 11.27 40.87 7.62%
3 Monsanto India Limited 10 85 29.08 16.14%
4 R J Biotech Limited 10 -15.86 NA NA
5 Omega AG seeds Punjab limited 10 0.04 125 10.19%
6 Bombay Super Hybrid Seeds limited 10 2.4 25 17.99%

Recommendation on Bombay Super Hybrid Seeds Ltd IPO:

The Valuation of the company in terms of P/B and P/E at an issue price of 60 is on higher side and falling EBITDA margins is big negative for the company. Rating: 4 /10. 1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Bombay Super Hybrid Seeds Ltd IPO:

  1. Monarch Networth Capital Limited

Registrar of Bombay Super Hybrid Seeds Ltd IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Shrinathji Indl Est Plot No 11 8-B National Highway Rajkot - 360023, Gujarat, India. Phone : 91-9687967096 Email : cs@bombaysuper.in Website : www.bombaysuperseeds.com

25th Sep 2018 - 27th Sep 2018 => Aavas Financiers IPO

Bid Details of Bombay Super Hybrid Seeds Ltd IPO as on
17-Apr-2018 17:00:00 IST

Category No.of shares offered No. of shares bid
866,000 4,022,000
866,000 11,874,000
- -
1,732,000 15,896,000
QIBs Yes
QIBs+HNIs Subscription 4.64X
Retail Subscription 13.71X
Total Subscription 9.18X

Discussion on Bombay Super Hybrid Seeds Ltd IPO:

    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds ASHOKBHAI JAGDISHBHAI RAMANI BUY 34,000 59.89 –
    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED BUY 34,000 63.00 –
    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds JANAKPARI SOMPARI GOSAI BUY 34,000 61.34 –
    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds JIGNESH JAGDISHBHAI RADIYA BUY 54,000 61.18 –
    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds KETAN DEVSHIBHAI DUDHATRA BUY 50,000 59.87 –
    25-Apr-2018 BSHSL Bombay Super Hybrid Seeds PINAL HITESH KUMAR KAKKAD BUY 50,000 59.35 –