Rudrabhishek Enterprises Limited IPO

Apply 0
Avoid 0

Rudrabhishek Enterprises Limited IPO

(i) Rudrabhishek Enterprises Limited (REPL) is Integrated Real Estate & Infrastructure consultants, having legacy of 25 Years. They integrate a range of services to deliver end-to-end consultancy in diverse sectors. REPL group is uniquely positioned to manage projects right from the ideation stage and carry it through planning, designing, execution, and finally marketing. They  can take up a greenfield or brownfield project and convert it into an integrated Hi-tech Township, Smart City, IT Park or SEZ.

(ii)  The diverse consultancy services include Viability Analysis, Infrastructure Services, Urban Planning & GIS, Building Area & Design, Structural Design, Services Design (MEP), Project Management Consultancy (PMC), and Strategic Marketing Advisory.

(iii) They have designed and managed complex projects in sectors such as Real Estate (Residential, Commercial, Group Housing & Integrated Township projects), Retail (Malls & Office Complexes), Hospitality & Healthcare, Recreation (Sports Stadium, Clubs), Water Sanitation & Environment, Solid Waste Management, Hi-Tech Cities, Smart Cities etc., just to name a few. REPL also provides geographical information system and cloud computing data management solution for larger townships and urban development projects.The group is intensively involved in Smart City Mission of Government of India. They have been providing consultancy in conceptualization, planning and implementation of multiple smart cities viz., Varanasi (U.P.), Indore (M.P.) & Kanpur (U.P).

(iv) Today, the Group has many Subsidiary Companies for providing focused solutions, which includes Rudrabhishek Infosystem Pvt. Ltd. (RIPL), IM + Capitals, REPL Singapore Pvt. Ltd. (RSPL) and Shing Design Atelier (SDA), Singapore. REPL derives strength from its in-house team of qualified and experienced financial analysts, engineers, urban planners, interior designers, GIS experts and project managers.

(v) REPL is an ISO 9001:2008 certified organization empaneled with more than 30 government department & agencies. The Group has the privilege of serving a number of esteemed clients from Government, Public, and Private sectors. Pan India projects are handled from the branch offices located at Delhi, Noida & Lucknow; and project offices at Varanasi, Indore & Kanpur. For catering to clients from S.E. Asia region, they have an office of RSPL in Singapore. After consolidating its position in South East Asia region, the REPL Group now eyes to get aggressively into a global market of infrastructure consultancy.

Rudrabhishek Enterprises Limited IPO Stock Quote & Charts

41.80

-2.34%

  • Open: 42.00
  • High - Low: 42.50 - 41.55
  • Previous Close: 42.80
  • Total Traded Volume: 36000
  • Updated On: 19-Jul-2018

Objects of the Rudrabhishek Enterprises Limited IPO:

Objective of

Rudrabhishek Enterprises Limited IPO

are: 1. To raise funds for long-term working capital required for the Business of Company 2. General Corporate Purpose and 3. To meet the expenses of the issue

Rudrabhishek Enterprises Limited IPO Details:

Open Date: Jun 29 2018
Close Date: Jul 05 2018
Total Shares: 4,569,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 18.7329 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 41 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jul 13 2018

Promoters And Management:

Promoters of Rudrabhishek Enterprises Limited Company are: Mr. Pradeep Misra Ms. Richa Misra

Capital Structure:

(i) Authorized Share Capital 20,000,000  shares at FV@10) 20 Cr
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue (12,770,500 Shares at FV@10) 12.770 Cr
(iii) Present Issue (   4,569,000 Shares at FV@10) 4.569 Cr
(iv) Reservation for Market Maker [231,000] Shares at FV@10) 23 Lacs
(v) Reservation for QIB & HNI  [2169000] Shares at FV@10) 50%
(vi) Reservation for Retail  [2169000] Shares at FV@10) 50%
(vii) Paid Up Share Capital after the issue 17.339

Financials of Rudrabhishek Enterprises Limited IPO as per DRHP:

1. Assets and Liabilities Key Parameters
Year Asset(lacs) Liabilities(lacs) Net Worth(lacs) Book Value D/E [<1.5] RONW Receivable days
FY13 1,397.33 384.79 1,012.54 180.65 0.4 37% 102
FY14 2,818.54 841.89 1,976.65 352.66 0.4 27% 107
FY15 3,362.81 885.08 2,477.73 442.06 0.4 23% 126
FY16 4,999.30 1,794.99 3,204.31 571.69 0.6 21% 145
FY17 7,349.28 3,495.54 3,853.74 687.55 0.9 10% 223
9MFY18 5,108.60 1,303.44 3,805.16 32.33 0.3 5% 207
Post Issue 6063.16 36 0.2
2. Profit n Loss Key Parameters
Year Revenue(lacs) PAT(lacs) EBITDA Margins Profit Margins Outstanding Shares(lacs EPS
FY13 2341.89 374.15 27% 16% 5.61 66.75
FY14 3341.14 536.11 28% 16% 5.61 95.65
FY15 3865.71 567.55 26% 15% 5.61 101.26
FY16 3934.83 684.35 27% 17% 5.61 122.10
FY17 3422.68 375.81 21% 11% 5.61 67.05
9MFY18 3531.17 199.07 14% 6% 117.71 1.69
Post Issue 265 170.06 1.56
3. Cash Flow Statement(all figures in lacs)
Particulars FY17 FY16 FY15 FY14 FY13
(i) Net Cash Generated from Operation 206.99 616.3 204.13 530.92 273.72
(ii) Net Cash Generated from Investment -1037.21 -1350.12 -117.31 -330.12 -306.71
(iii) Net Cash Generated from Financing Activity 777.58 875.07 -68.21 -115.95 16
(iv) Total[ (i)+(ii)+(iii) ] -52.64 141.25 18.61 84.85 -16.99
(v) Cash and Cash Equivalents at the Beginning of the Year 320.9 179.66 161.04 76.19 93.17
(vi) Cash and Cash Equivalents at the end of the Year 268.26 320.90 179.66 161.04 76.19
Key Notes: a) The Revenue is growing at CAGR of 9.09% from FY13 to FY17. b) The PAT rose between FY13 to FY16 at CAGR of 22%. However, in FY17 performance was gone down to 50% as compared to FY16.- Inconsistency in bottom-line is Red Flag here. c) The Annualized EPS for FY17-18 would be 1.56. d) P/E(post issue)= 26( reasonably priced) at Cutoff price of 41. Industry P/E is 41. Green Flag e) P/B(post issue)= 1.13 at cutoff price of 41- Green Flag f) The company's debt/equity is almost nil. The company has reduced the Long term borrowing to almost zero in 9MFY18 as compared to 18Cr last year. Green Flag g) Mcap/Sales(ideally <2)= 2 on FY17 sales( on border line). h) The Company's EBITDA Margins has gone down from 26% in FY17 to 14% 9MFY18.- Red Flag i) The Company has shown inconsistency in generating positive cash flows from operations in last 5 years- Red Flag.

Comparison With Peers:

As per DRHP Company has Mitcoin Consultancy and Artefact as their peer which are trading at P/E of 14 and 116 respectively.

Recommendation on Rudrabhishek Enterprises Limited IPO:

Rudrabhishek Enterprises Limited IPO Rating by InvestorZone team =>5/10.
1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Rudrabhishek Enterprises Limited IPO:

  1. Corporate Capital Ventures Private Limited
  2. Khambatta Securities Limited

Registrar of Rudrabhishek Enterprises Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Rudrabhishek Enterprises Limited 820, Antriksha Bhawan, K.G. Marg, New Delhi – 110001 Phone No. 011 23738974 Email: secretarial@replurbanplanners.com Website: www.repl.global

Bid Details of Rudrabhishek Enterprises Limited IPO as on
05-Jul-2018 18:30:00 IST

Category No.of shares offered No. of shares bid
2,169,000 3,918,000
2,169,000 1,137,000
231,000 231,000
4,569,000 5,286,000
QIBs No
QIBs+HNIs Subscription 1.81X
Retail Subscription 0.52X
Total Subscription 1.11X

Discussion on Rudrabhishek Enterprises Limited IPO: