MANAKSIA LTD - IPO
Type of Issue : Book Built
Issue Opens: 17 December, 2007
Issue Closes: 19 December, 2007
Issue Size :15,500,000 (No. of Shares)
Lower Price Band: Rs.140
Upper Price Band: Rs.160
Total Issue Size: Rs.248 Crores
Application Multiple: 40 and in multiples there off starting with atleast 60 shares.
Maximum Shares: 600(for Retail)
Information URL : http://www.manaksia.com
Prospectus URL : http://www.sebi.gov.in/dp/manaksia.pdf
Company Details :
Address : 8/1, LALBAZAR STREET, KOLKATA - 700 001..
Email : info@manaksia.com
Contact Details: 913322310050 /913322300336 (fax)
ISSUE Description:
Company Background:
Manaksia Limited (formerly Hindusthan Seals Ltd., incorporated in 1984) is a multi-division and multi-location conglomerate. It possesses 15 manufacturing plants in India and three abroad; two in Nigeria and one in Ghana. The company was promoted by Basant Kumar Agrawal and Suresh Kumar Agrawal.
Manaksia specialises in the manufacture of packaging products (crowns, closures and metal containers), metal products and fast moving consumer goods, among others.
The company's metal packaging products include crowns, roll-on pilfer-proof closures, expanded polyethylene liners as well as push-open and other metal containers. In the fast moving consumer goods segment, the company is a dependable mosquito repellents outsourcing destination for the Mortein (owned by Reckitt Benckiser (India) Limited) and Maxo (owned by Jyothy Laboratories) brands.
The company has now diversified into the production of aluminium rolled products, secondary specification aluminium alloys and galvanised steel.
The company’s wholly owned subsidiary in Nigeria, MINL Limited, was set up in 1996 and is the market leader in ROPP caps and crown corks in Nigeria. It has also set up facilities for the manufacture of galvanised steel, metal colour coated sheets and coils and secondary specification aluminium alloys.
The company also has subsidiary companies in Ghana (Dynatech Industries Ghana Limited) and Dubai (Euroasian Ventures FZE).
Object of the Issue
a) Expansion of the Metals business
b) Prepayment / repayment of debt
Key Financials for the year ended March 31, 2007
Revenue Rs.6453.89Mln, PAT Rs.307.74Mln,
EPS Rs.17.04, RoNW24%
Recommendation:
Considering the expected profitability of Rs.20 EPS for FY 08, share is being issued at a PE of about 8 times. Future expansion in the capacity of the company would improve the profitability. Consistent growth in the financial performance of the company, for the last five years, as also low equity base of Rs.13.90 crores are positive features of the issue.
Investment is advised in the issue, which would be profitable in the short and medium term.
Issue Opens: 17 December, 2007
Issue Closes: 19 December, 2007
Issue Size :15,500,000 (No. of Shares)
Lower Price Band: Rs.140
Upper Price Band: Rs.160
Total Issue Size: Rs.248 Crores
Application Multiple: 40 and in multiples there off starting with atleast 60 shares.
Maximum Shares: 600(for Retail)
Information URL : http://www.manaksia.com
Prospectus URL : http://www.sebi.gov.in/dp/manaksia.pdf
Company Details :
Address : 8/1, LALBAZAR STREET, KOLKATA - 700 001..
Email : info@manaksia.com
Contact Details: 913322310050 /913322300336 (fax)
ISSUE Description:
Company Background:
Manaksia Limited (formerly Hindusthan Seals Ltd., incorporated in 1984) is a multi-division and multi-location conglomerate. It possesses 15 manufacturing plants in India and three abroad; two in Nigeria and one in Ghana. The company was promoted by Basant Kumar Agrawal and Suresh Kumar Agrawal.
Manaksia specialises in the manufacture of packaging products (crowns, closures and metal containers), metal products and fast moving consumer goods, among others.
The company's metal packaging products include crowns, roll-on pilfer-proof closures, expanded polyethylene liners as well as push-open and other metal containers. In the fast moving consumer goods segment, the company is a dependable mosquito repellents outsourcing destination for the Mortein (owned by Reckitt Benckiser (India) Limited) and Maxo (owned by Jyothy Laboratories) brands.
The company has now diversified into the production of aluminium rolled products, secondary specification aluminium alloys and galvanised steel.
The company’s wholly owned subsidiary in Nigeria, MINL Limited, was set up in 1996 and is the market leader in ROPP caps and crown corks in Nigeria. It has also set up facilities for the manufacture of galvanised steel, metal colour coated sheets and coils and secondary specification aluminium alloys.
The company also has subsidiary companies in Ghana (Dynatech Industries Ghana Limited) and Dubai (Euroasian Ventures FZE).
Object of the Issue
a) Expansion of the Metals business
b) Prepayment / repayment of debt
Key Financials for the year ended March 31, 2007
Revenue Rs.6453.89Mln, PAT Rs.307.74Mln,
EPS Rs.17.04, RoNW24%
Recommendation:
Considering the expected profitability of Rs.20 EPS for FY 08, share is being issued at a PE of about 8 times. Future expansion in the capacity of the company would improve the profitability. Consistent growth in the financial performance of the company, for the last five years, as also low equity base of Rs.13.90 crores are positive features of the issue.
Investment is advised in the issue, which would be profitable in the short and medium term.
posted by Sensex-Blog Admin at 4:55 AM
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