This post on Amber Enterprises India Limited IPO tries to bring out consolidated brokerage views opinions, IPO Review / Analysis, Note/ reports and recommendation of brokerages , Analyst, Business New papers, Management views, Grey Market Premium, Subscription etc on Amber Enterprises India Limited IPO and shall be updated continuously till the closure of the issue. The information collated from various sources and reports in public domain can help investors to decide whether they should subscribe to Amber Enterprises India Limited IPO or not.
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Amber Enterprises India Limited IPO: Grey Market Premium etc.
16/1/18 Grey Market Premium Rs. 450-470/- , Kostak Rs. 500-600/-
Complete Anchor List
Anchor Investors (AIs) portion in the Public Issue of Amber Enterprises India Limited Limited for 20,80,459 equity shares has been subscribed today by 15 AIs at Rs. 859/- per equity share and includes names like Abu Dhabi Investment Authority Behave, Goldman Sachs India Ltd, ICICI Pru Value Fund, HDFC Small cap Fund, Kuwait Investment Authority 25, Kotak Classic Equity etc.
Click here for Complete Amber Enterprises India Limited Anchor Investors List
Consolidated opinion of Brokerages, Analysts, Business New Paper Reports, Management Views on Amber Enterprises India Limited IPO .
Angel Broking: “At the upper end of the price band, the P/E multiple works out be 80x (preissue equity base) of FY17 EPS which prima facie looks on the higher side.
However, considering future earnings growth trajectory to be very robust (FY19 earnings expected to be 4x of FY17 earnings); we feel that the stock would trade at ~22-25x (post issue equity base) on our rough EPS for FY2020 which
looks very attractive. Its closest peer – Dixon Technologies is trading at higher valuation of 30x FY20 earnings. We recommend ‘SUBSCRIBE’ on the issue for a mid-to-long term period.”
Capital Market: ” Score 43/100, The diluted equity share capital stands at Rs 31.45 crore of face value of Rs 10. EPS for FY 2017 works out to Rs 8.9. At the higher price band of Rs 859, P/E on FY 2017 diluted EPS is 96.8. The high price seems to largely discount the near- and medium-term growth prospects.”
Dalal Street Investment Journal : “The company is in a market leader position in the RAC industry in India. The outlook of RAC and consumer durable industry is positive in the long run. Its growth in revenue and EBITDA has been decent, but the net profit margins are too low. As far as valuation is concerned, the company is demanding a high price and is thus over-valued. Also, promoters are reducing their stakes through the OFS. Investors may not get much returns and thus we find this issue to be risky. Investors can avoid this IPO.”
Hem Securities: “The co is bringing the issue at p/e multiple of 49 on annualized H1FY18 eps at higher price band of Rs 855-859/share. Co being market leader in RAC OEM/ODM industry in India have reputed clientele with strong track record of financial performance.Looking after strong future prospects of co with decent fundamentals, , we recommend “Subscribe” on issue.“
ICICIDirect: “Outlook on the company is positive considering strong demand for white goods products in India. The company has a strong clientele base and its plant utilisation and return ratios would improve. All these factors provide sufficient margin of safety at the higher end of the subscription price.”
SP Tulsiyan website: “Amber’s fundamentals are strong and it looks capable to grab the growing industry size. On peer comparison, valuations are reasonable, and hence one can subscribe to the issue.“
SSJ Finance: “AEL has reported a CAGR of 17.1% and 9.1% on revenue and net profit fronts respectively over FY2013-2017. On its upper band of price of Rs 859, the issue is priced at PE ratio of 40.8x of its H1FY2018 annualised EPS of Rs 21.1. We believe that the IPO is fairly priced leaving a room for upside. Hence, we recommend to Subscribe the IPO.“