Debock Sales and Marketing Limited IPO

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Debock Sales and Marketing Limited IPO

(i) The Debock Group is establishments in the year 2007 with the vision of growth of the country and gives best services and good quality of products, Debock Group has left no stone unturned and has never thought back. Before the launch of the Company, a committed and broad study and investigation of the business sector was carried on to get the accurate situation of the business sector in the market to best services and product in future as the requirement of the customer. Debock group with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
(ii) The Debock Group has interest in Real Estate, Infrastructure Development, Sales and Marketing, Agriculture Products and also in Hospitality Industry and in future they have come in the education sector. Debock Group is the flawlessness of the standard man dream, dream to give an amazing need for lodging. The group has today brisk rose as energy to figure inside the universe of Debock Group.
(iii) The Debock family has gradually become an inseparable and an essential part of living of many modern peoples. We have made a holistic contribution to elevating modern living styles in Rajasthan.
(iv) Real Estate projects developed by Debock Group, always with desired balanced between convenient and easy traceable locations, spacious and well-planned layouts, modern designs and facilities with high living standards and projects near to all transportation facilities.
(v) We have successfully developed and delivered more than 10 million sq. ft. of residential and commercial projects that are landmarks its self to their design, locations and inhabitant profiles. Debock group has over 5 million sq. ft. of space under various stages of different project development in various location in countrywide.
(vi) While Debock Group is our business, we consider ourselves a service industry group… and our service is to design People’s life. We have the aim to develop sales & marketing policies which benefits client business, we develop agriculture equipment and spares for farmers help and for growth of our country, also we are in hospitality industry to give comfortable stay when you are away from home and Debock focus on the things that consider important – whether it is building a business, growing a family, connecting with friends, or simply finding the time and space to pursue your dreams.

Debock Sales and Marketing Limited IPO Stock Quote & Charts

3.55

-4.05%

Check History
  • Open: 3.55
  • High - Low: 3.55 - 3.55
  • Previous Close: 3.70
  • Total Traded Volume: 6000
  • Updated On: 18-Dec-2019

Objects of the Debock Sales and Marketing Limited IPO:

Objective of

Debock Sales and Marketing Limited IPO

are: The Object of the Issue is: To Meet the working capital requirement
DRHP of Debock Sales and Marketing Limited IPO

Debock Sales and Marketing Limited IPO Details:

Open Date: May 24 2018
Close Date: May 28 2018
Total Shares: 22,20,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 4.44 Cr.
Lot Size: 6000 Shares
Issue Price: ₹ 20 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jun 05 2018

Promoters And Management:

Promoters of Debock Sales and Marketing Limited Company are: (i) Mr. Mukesh Manveer Singh, aged 40 years, is the Promoter and the Managing Director of the Company. He has an experience of around 8 years in this industry. He is the guiding force behind all corporate decisions and is responsible for the entire business operations.

Capital Structure:

(i) Authorized Share Capital (85,00,000  shares at FV@10) 8.5 Cr
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue (60,00,000 Shares at FV@10) 6 Cr
(iii) Present Issue (   22,20,000 Shares at FV@10) 2.22 Cr
(iv) Reservation for Market Maker  ( 1,20,000 Shares at FV@10) 12 Lacs
(v) Net Issue to Public (22,20,000-1,20,000=  21,00,000 Shares) 2.1 Cr
(vi) QIB & HNI quota-10,50,000 Shares 50%
(viii) Retail Quota- 10,50,000 Shares 50%
(ix) Paid Up Share Capital after the issue 8.22 Cr

Financials of Debock Sales and Marketing Limited IPO:

1. Assets and Liabilities
Year Asset(Lacs) Liabilities(Lacs) Net Worth(Lacs) Book Value D/E RONW Receiveable days TRADE Receivables
FY13 40.68 40.63 0.05 0.5 812.6 3940.00% 0
FY14 418.02 415.66 2.36 23.60 176.1 97.88% 0
FY15 1082.99 1078.18 4.81 1.21 224.2 51.14% 110 123.55
FY16 2096.7 2088.08 8.62 0.86 242.2 -25.87% 177 497.73
FY17 3007.36 2947.68 59.68 5.97 49.4 85.54% 283 1251.69
9MFY18 4022.41 2842.65 1179.76 19.66 2.41 2.33% 270 1808.3
Post Issue 1623.76 20 1.8
2.  Profit n Loss Key Parameter
(i) The Reveune of the company in last 5 years ( FY13 to 9MFY18) is 3.3 Lacs, 10.08 lacs, 4.08 Cr, 10.26, 16.14 Cr and 7.71 Cr respectively. (ii) The PAT of the company in last 5 years ( FY13 to 9MFY18) is  1.97 Lacs,    2.31 Lacs, 2.46 Lacs, -2.23 Lacs, 51.05 lacs and 27.45  Lacs respectively. (iii) P/B(post issue)=  1 (at cutoff price of 20) (iv) Annualized EPS(post issue)=  .44 (v)  Annualized P/E(post issue)= 45 at the cutoff price of 20
3. Cash Flow Statement(all figures in lacs)
Particulars FY17 FY16 FY15 FY14 FY13
(i) Net Cash Generated from Operation -18.32 -92.14 251.47 341.44 -36.55
(ii) Net Cash Generated from Investment -141.05 -297.66 -315.86 -335.13 0
(iii) Net Cash Generated from Financing Activity 65.45 463.85 85.79 0 -38.6
(iv) Total[ (i)+(ii)+(iii) ] -93.92 74.05 21.4 6.31 -75.15
Key Observations- 1.The Legal proceedings pending against the promoters which are related to Civil, Criminal and tax related matter and the equivalent amount involved is approximately 69 Lacs. The Company total profit for FY17 was only 51 Lacs. 2.Promoter has changed his name from Mukesh Kumar Mahawar to Mukesh Manveer Singh vide Rajasthan Gazette dated July 27, 2017, but all the documents are on his erstwhile name. Further, there is a change in the date of birth of our Promoter. No clarification has been given for such change of Name and DOB. 3.No provision has been made in the restated financial statements on account of salary payable to Managing Director @ Rs. 30,000/- p.m. w.e.f May 25, 2017. This shows that company is hiding its liabilities in the Balance Sheet. 4.The Promoters Mr. Mukesh Manveer Singh holds 48, 07,624 No. of Shares at average price of Rs.26.93 and the issue is priced at Rs. 20, quite interesting. We hardly see issue price below the average price of acquisition of promoters. 5.The Company has single line of Management. 6.Almost all the Group Companies are in losses. 7.The Company cleverly reduced the D/E ratio from 49 to 2.41 by “conversion of Loan into Equity on Preferential Basis” by issuing 35, 66,579 no. of shares at a price of Rs.32 to promoters itself. This has done intentionally by promoters to improve the balance sheet just before the IPO. 8.In Asset and Balance sheet, if you look carefully the Receivable days from FY16 to FY17 has increased from 177 to 283 days. This Clearly suggest company is selling their product on credit to their known company and falsely inflating sales figure before IPO. No company on earth can sustain long if they are doing business on credit for long and that too if their working Capital requirement is high as in case of Debock Sales.

Comparison With Peers:

No point of comparing companies with such poor and cooked financials.

Recommendation on Debock Sales and Marketing Limited IPO:

Review and Recommendation of

Debock Sales and Marketing Limited IPO

from our side is: Rating: 0/10. 1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Debock Sales and Marketing Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of Debock Sales and Marketing Limited IPO:

  1. Cameo Corporate Services Limited

Company Address:

Debock Sales and Marketing Limited 51, Lohiya Colony, 200ft Bye Pass, Vaishali Nagar, Jaipur-302021, Rajasthan Phone No. 0141-2358654 E-mail: cs@debockgroup.com Website:www.debockgroup.com

Bid Details of Debock Sales and Marketing Limited IPO as on
28-May-2018 18:30:00 IST

Category No.of shares offered No. of shares bid
1,050,000 1,122,000
1,050,000 1,974,000
120,000 120,000
2,220,000 3,216,000
QIBs No
QIBs+HNIs Subscription 1.07X
Retail Subscription 1.88X
Total Subscription 1.47X

Discussion on Debock Sales and Marketing Limited IPO:

3 Comments

    Criminal cases are there against the promoters. Wow what a company. How can NSE and BSE allow such companies to come with an IPO to loot investor money.

    Reply

    Clear Avoid
    Wow! What a company! They could not even cook up their books properly. The company suddenly in profit in a final year. Apply if you want to convert your 120000 into 10000.

    Reply

    This will repeat the story of U h Zaveri. Please avoid this at any cost.

    Reply

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