Bombay Super Hybrid Seeds IPO – Review, Allotment Status, Subscription, Price, Date & more

Bombay Super Hybrid Seeds IPO is one of the first few IPOs of the new financial year for which draft prospectus has been released by the National Stock Exchange of India (NSE) – thus the company is all set to get listed on NSE. The details about this IPO relating to IPO Size, IPO release date, IPO offer price, IPO object, grey market price, IPO allotment status, IPO subscription and details about the company, its promoters and financials- these all pointers have been covered herein.


Bombay Super Hybrid Seeds IPO Review & Ratings

Bombay Super Hybrid Seeds IPO Ratings & Review
Criteria Ratings
Industry Sentiments 5.8/10
Industry Ranking 5.7/10
Company Background 5.9/10
Company Reputation 5.7/10
Competitive Edge 5.2/10
Financial Statements 5.4/10
Popularity Index 5.3/10
Promoters Reputation 5.7/10
Retail Appetite 5.8/10
Top Brokers Review 5.3/10
Overall Ratings 5.6/10
Star Ratings ★★★☆☆

Summary of Bombay Super Hubrid Seeds IPO

bombay super hybrid seeds ipoThe pioneering Manufacturer and Supplier firm Bombay Super Hybrid Seeds Ltd. was established in the year 2000 to take responsibility to strengthening the agriculture industry by dealing in premium grade Agricultural Seeds.

They are instrumental in rendering a wide assortment of certified quality products including Sesame Seeds, Guar Seeds, and Coriander Seeds. The products are widely utilized for its pure cultivation, moisture proof packaging, high yield assurance and longer shelf life. They deal in own brands like Kasturi and Bombay Super.

The Bombay Super Hybrid Seeds IPO has 1,732,000 equity shares to be offered to the public. The cash price has been fixed at INR 60 per equity share which implies a premium of almost 6 times to the face value of shares. Of this 1,732,000 equity shares, 88,000 shares have been reserved for market makers.

The lead managers for Bombay Super Hybrid Seeds is Monarch Networth Capital Limited and the Registrar to the offer is Skyline Financial Private Limited.


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Bombay Super Hybrid Seeds IPO Date

Bombay Super Hybrid Seeds IPO has a release date of 12 April 2018. The IPO would thus close on 17 April 2018.

Bombay Super Hybrid Seeds IPO Subscription

  Subscription
Day 1 – 12 April X
Day 2 – 13 April X
Day 3 – 14 April X
Day 4 – 15 April X
Day 5 – 16 April X

This section would be updated on a daily basis post the release of IPO.

Bombay Super Hybrid Seeds IPO Allotment Status

Once the IPO is released and opened for public subscription, the details relating to allotment of shares would be updated herein.

Bombay Super Hybrid Seeds IPO Price Band

As per the prospectus released by NSE for Bombay Super Hybrid Seeds IPO, the equity shares are priced at Rs. 60 per share. The said amount includes a premium of Rs. 50 per share.

Bombay Super Hybrid Seeds IPO Issue Size

The total size of Bombay Super Hybrid Seeds IPO is Rs. 1,039.20 lac. Of this, 5% amounting to Rs. 52.80 lacs has been reserved for the market makers. Thus, the net offer to the public is 986.40 lacs (i.e. 16,44,000 equity shares of Rs. 60 each).

Bombay Super Hybrid Seeds IPO Equity Share Offerings

The total number of shares being offered under IPO is 17.32 lacs equity shares. Of this, around 88,000 equity shares have been reserved for the market makers and the balance 16.44 lacs equity shares being the net offer to the public. The net offer constitutes 34% of the pre-issue equity share capital and 25% of the post issue paid up equity share capital of the Company.


Bombay Super Hybrid Seeds Limited – Company Overview

Bombay Super Hybrid Seeds Limited was initially incorporated as a partnership firm and in the year 2014, the partnership firm was converted into a company.

The Company  is a pioneering Manufacturer and Supplier firm established in the year 2000  with a motive to take responsibility to strengthening the agriculture industry by dealing in premium grade Agricultural Seeds.

Bombay Hybrid Seeds Limited is instrumental in rendering a wide assortment of ISO 9001:2008 certified quality products including Sesame Seeds, Guar Seeds, and Coriander Seeds. Their products are widely utilized for its pure cultivation, moisture proof packaging, high yield assurance and longer shelf life. The company deals in own brands like Kasturi and Bombay Super.

In the agriculture segment, Bombay Super Hybrid Seeds Limited’s products are highly demanded for its unique capability of reducing operating cost and maximizing margins. Further owing to the longevity of their hygienically processed seeds, their product line also finds its application in the food and beverage industry.

Key members of Bombay Super Hybrid Seeds Limited:

  • Arvind Kumar Jadav Ji Bhai Kakadia (Managing Director)
  • Kirti Kumar Jadav Ji Bhai Kakadia (Executive Director)

Competitive Strengths of Bombay Super Hybrid Seeds Limited

  • Leading producers of hybrid and research seeds
  • Quality of products
  • Brand image
  • Experience management team
  • Adequate research and development capabilities

Business Strategies of Bombay Super Hybrid Seeds Limited

  • Enhancing Brand image
  • Developing new product line
  • Customer satisfaction
  • Leveraging on marketing skills and initiatives
  • Improving functional efficiency

Bombay Super Hybrid Seeds Limited – Financial Statements

For a quick look into the financial position of the company, we have presented the following details.

Assets of the Company

Assets (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Non-Current Asset 561 334 169 129 133
Current Asset 1,473 1,190 670 279 315
Total Asset 2,034 1,524 839 408 448

Revenue & PAT of the Company

Revenue & Profits (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Total Revenue 10970 6313 3133 3013 1571
Profit after Tax (PAT) 80 27 4 25 27

Earnings per Equity Share

Earning per Equity Share (in INR)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Basic 2.40 0.82 0.19 3.09 3.66
Diluted 2.40 0.82 0.19 3.09 3.66

While the Company has seen a constant growth in the revenue, the EPS and the PAT appear to be quite fluctuating. Nonetheless, that could be on account of the economic cycles of this peculiar industry and hence the results should be evaluated appropriately and not on a prima facie level.


Bombay Super Hybrid Seeds Limited Promoters

Promoters of Bombay Super Hybrid Seeds Limited:

  • Arvind Kumar Jadav Ji Bhai Kakadia (Managing Director)
  • Kirti Kumar Jadav Ji Bhai Kakadia (Executive Director)

Promoter Interest in the company

The promoters jointly hold 75% of pre-issue equity share capital in the company and accordingly are interested to the extent that they have promoted the company and to the extent of their shareholding, dividend payable and related payouts.

Promoters are also the managing director/executive director and hence are interested to the extent of their remuneration, sitting fees and reimbursements. They may also be interested to the extent of unsecured loans granted by them/ to them.

Promoter Interest in the property of the company

The promoters do not have any interest in the property of the company.


Bombay Super Hybrid Seeds IPO Offer Details or Issue Details

Offer 1,732,000 Equity Shares of face value Rs. 10/- each for a cash price of Rs. 60/- per equity share (including a share premium of Rs. 50/- per equity share) aggregating to Rs. 1,039.2 Lacs
Of which
Issue reserved for the Market Makers 88,000 Equity Shares of face value Rs. 10/- each for a cash price of Rs. 60/- per equity share aggregating to Rs. 52.80 Lacs
Net Issue to the public 16,44,000 Equity Shares of face value Rs. 10/- each for a cash price of Rs. 60/- per equity share aggregating to Rs. 986.40 Lacs
Of which
Allotment to retail investors 822,000 Equity Shares of face value Rs. 10/- each for a cash price of Rs. 60/- per equity share aggregating up to Rs. 493.20 Lacs
Allotment to other investors 822,000 Equity Shares of face value Rs. 10/- each for a cash price of Rs. 60/- per equity share of above Rs. 493.20 Lacs
Equity Shares outstanding prior to the offer 48,26,580 Equity Shares  of face value Rs. 10/- each
Equity Shares outstanding after the Offer 65,58,580 Equity Shares  of face value Rs. 10/- each

 


Bombay Super Hybrid Seeds IPO Issue Object

  • Working capital requirements
  • Repayment of loan
  • General Corporate purpose
  • Issue expenses

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Bombay Super Hybrid Seeds IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead Managers on the basis of various qualitative and quantitative factors. The face value of the equity shares is Rs. 10/- each and the issue price is set at Rs. 60/- per equity share.

The qualitative factors relevant to decide the issue price:

  • Experience promoters and Management Expertise
  • Adequate research and development capabilities
  • Different varieties of seeds produced

The quantitative factors relevant for the issue price are:

  • Earning per share – This is one of the most widely used indicator. For Bombay Super Hybrid Seeds Limited, the three year weighted average EPS is 1.47
  • Price/earning ratio – The P/E ratio is 40.82 on the basis of EPS mentioned above whereas the industry PE is 46.83 and the average PE for the industry is 29.74
  • Return on Net Worth –  It has reported RONW at 11.54% on the basis of weighted average of recent 3 years
  • Net Asset Value (“NAV”) per Equity Share – NAV as on March 31, 2017 is ₹ 15.91
  • Comparison with listed industry peer review  –  On comparing the EPS of peers, Bombay Super Hybrid Seeds Limited lies on 4th position. Monstanto Seeds, Kaveri Seeds and Mangalam Seeds being the leaders.  Behind the company lie Omega AG Seeds, Camson Seeds and RJ Biotech.

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Bombay Super Hybrid Seeds IPO Lead Managers

Lead Managers
Monarch Networth Capital Limited

Bombay Super Hybrid Seeds IPO Registrar to the Offer

Registrar of the Offer
Skyline Financial Private Limited

Bombay Super Hybrid Seeds IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Repu-tation Compe-titive Edge Finan-cial State-ment Popu-larity Index Promo-ters Repu-tation
Angel Broking 5.1/10 5.1/10 5.1/10 5.1/10 5.1/10
Sharekhan 5.2/10 5.1/10 5.2/10 5.1/10 5.2/10
Kotak Securities 5.0/10 5.1/10 5.1/10 5.1/10 5.0/10
ICICI Direct 5.0/10 5.0/10 5.3/10 5.1/10 5.1/10
IIFL 5.1/10 5.2/10 5.0/10 5.0/10 5.1/10
Edelweiss 5.1/10 5.1/10 5.1/10 5.0/10 5.2/10
Zerodha 5.1/10 5.1/10 5.1/10 5.1/10 5.0/10
5Paisa 5.1/10 5.1/10 5.1/10 5.1/10 5.1/10
Karvy 5.1/10 5.0/10 5.2/10 5.1/10 5.1/10
Motilal Oswal 5.1/10 5.1/10 5.2/10 5.0/10 5.2/10

Bombay Super Hybrid Seeds IPO Grey Market Premium

The release date for this IPO is 12 April 2018 and hence the Bombay Super Hybrid Seeds grey market is already up and functional and has been so since almost a week. The current kostak rate for this IPO is slightly above the issue price.


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