Let’s have a detailed review of the company and analytics of the Montecarlo Limited IPO release date, IPO offer price, subscription, Montecarlo IPO allotment, grey market premium price and other details like the company’s background, its financial positions, its promoters and other related things.
Montecarlo Limited IPO Review & Ratings
| Montecarlo Limited IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Montecarlo Limited IPO
Company has an infrastructure construction and development company, with our operations diversified across highways, railways, buildings and factories, mining, energy infrastructure and water and irrigation verticals of the infrastructure sector. Their business comprises: (i) infrastructure construction business, under which we undertake EPC projects primarily from various government authorities; and (ii) infrastructure development business, under which they currently undertake building, operation and development of highways primarily on a HAM basis and developing and operating mines on a MDO basis.
Their revenue from operation, as per the Restated Financial Statements, was Rs 24,643.17 million, Rs 19,355.12 million and Rs 19,794.90 million for the Fiscals 2019, 2018 and 2017, respectively. PAT, as per the Restated Financial Statements, was Rs 1,546.24 million, Rs 1,492.75 million and Rs 1,116.65 million for the Fiscals 2019, 2018 and 2017, respectively
The Promoter of this company are KANUBHAI M. PATEL TRUST (REPRESENTED THROUGH ITS TRUSTEES), KANUBHAI MAFATLAL PATEL, BRIJESH KANUBHAI PATEL AND MRUNAL KANUBHAI PATEL. The lead manager to the issue are Edelweiss Financial Services Limited, Axis Capital Limited, and HDFC Bank Limited. The Registrar to this issue is Link Intime India Private Limited.
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Montecarlo Limited IPO Date
The opening and the closing date of IPO of Montecarlo Limited is not known yet.
Montecarlo Limited IPO Subscription
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Montecarlo Limited IPO Allotment Status
The Issue is being made through the Fixed Price Process wherein up to ____Equity Shares shall be reserved for Market Maker upto ____ Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.
Montecarlo Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Montecarlo Limited IPO Equity Share Offering
[●] Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs [●]
Montecarlo Limited – Company Overview
Company was incorporated as Montecarlo Construction Private Limited on March 20, 1995, as a private limited company under the Companies Act, 1956, at Ahmedabad, Gujarat. They have more than two decades of experience in execution of infrastructure projects having completed 79 EPC projects. They have an Order Book as of June 30, 2019, aggregating to ₹ 91,612.99 million, with 39 ongoing EPC projects, spanning across 14 states in India, including the states of Maharashtra, Odisha, West Bengal, Karnataka, Andhra Pradesh, Chhattisgarh, Bihar and Uttar Pradesh.
Competitive Strengths of Montecarlo Limited:
- Strong execution and implementation skills with established track record
- Experienced and Professional Management team with end to end execution capabilities
- Consistent financial performance and credit profile
- Robust Order Book provides visibility for growth
- Diversified infrastructure portfolio with diverse geographical presence
Business strategies of Montecarlo Limited:
- Continued focus on further enhancing execution efficiency and capability in our infrastructure construction and development business
- Focus on existing verticals and selective expansion into opportunistic areas
- Attract, train and retain skilled personnel
- Maintain financial discipline
Montecarlo Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||
| 31-Mar-19 | Mar-18 | 31-Mar-17 | |
| Total Assets | 24,423.25 | 15,940.88 | 14,511.50 |
| Total Revenue | 25,047.15 | 19,462.43 | 19,866.31 |
| Total Expense | 22,982.12 | 18,210.35 | 18,348.79 |
| Profit After Tax | 1,546.24 | 1,492.75 | 1,116.65 |
Earnings per Equity Share (in Lakhs)
| 31- Mar-19 | Mar-18 | 31-Mar-17 | |
| Basic | 18.08 | 17.46 | 13.06 |
| Diluted | 18.08 | 17.46 | 13.06 |
From the above statements, one could find that the Montecarlo Technologies Limited may perform well.
Montecarlo Limited IPO – Promoters
The Promoter of this company are:
- KANUBHAI M. PATEL TRUST (REPRESENTED THROUGH ITS TRUSTEES),
- KANUBHAI MAFATLAL PATEL,
- BRIJESH KANUBHAI PATEL AND
- MRUNAL KANUBHAI PATEL
List of Related Parties (Key Managerial Personnel)
- Kanubhai Mafatlal Patel
- Brijesh Kanubhai Patel
- Mrunal Kanubhai Patel
- Nareshkumar Pranshankar Suthar
- Suhas Vasant Joshi
Interest in promotion of the Company
The Promoters are interested in Company to the extent that they have promoted Company and their respective directorship and shareholding in Company, the Group Companies and the Subsidiaries (as applicable) and the dividends receivable, if any, and any other distributions in respect of such shareholding.
Property Interest
The Promoters are not interested in the properties acquired by Company in the three years preceding the date of filing this Draft Red Herring Prospectus with SEBI or proposed to be acquired by Company, or in any transaction by Company for the acquisition of land, construction of building or supply of machinery.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Montecarlo Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to [●] Equity Shares, aggregating up to Rs [●] million |
| Of which: | |
| Reserved for Market Makers | Up to [●] Equity Shares, aggregating up to Rs 4,500 million |
| Net Issue to the Public | Up to 3,000,000 Equity Shares, aggregating up to Rs [●] million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Non-Retail Investors Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 85,500,003 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Montecarlo Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Working capital requirements of our Company;
- Investment in MHHHPL for part-financing of six-laning and strengthening of Hubli-Haveri section of NH-
48 (old NH-4) from 340.00 km to 403.40 km in Karnataka (“Hubli Haveri HAM Project”); and - General corporate purposes
Montecarlo Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strong execution and implementation skills with established track record;
- Robust Order Book;
- Diversified infrastructure portfolio with diverse geographical presence;
- Consistent financial performance and credit profile; and
- Experienced and professional management team with end to end execution capabilities.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-19 | 18.08 | 22.50% | 80.39 |
| Mar-18 | 17.46 | 28.24% | NA |
| 31-Mar-17 | 13.06 | 27.81% | NA |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | 13.42 |
| Highest | 18.66 |
| Lowest | 8.18 |
Montecarlo Limited IPO Lead Managers
| Lead Managers |
| Edelweiss Financial Services Limited 14th Floor, Edelweiss House Off. C.S.T Road, Kalina Mumbai – 400 098 Tel: +91 22 4009 4400 E-mail: mcl.ipo@edelweissfin.com Investor grievance e-mail: customerservice.mb@ edelweissfin.com Website: www.edelweissfin.com Contact Person: Disha Doshi/ Jaydeep Sarnaik |
| Lead Managers |
| Axis Capital Limited 1st Floor, Axis House C 2 Wadia International Centre Pandurang Budhkar Marg, Worli Mumbai – 400 025 Tel: +91 22 4325 2183 Email: mcl.ipo@axiscap.in Investor grievance e-mail: complaints@axiscap.in Website: www.axiscapital.co.in Contact Person: Mayuri Arya |
| Lead Managers |
| HDFC Bank Limited Investment Banking Group, Unit No. 401 & 402 4th Floor, Tower B, Peninsula Business Park Lower Parel, Mumbai – 400 013 Tel: +91 22 3395 8233 E-mail: mcl.ipo@hdfcbank.com Investor grievance e-mail: investor.redressal@hdfcbank.com Website: www.hdfcbank.com Contact Person:Ravi Sharma/ Harsh Thakkar |
Montecarlo Limited IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai – 400 083 Tel: +91 22 4918 6200 E-mail: montecarloltd.ipo@linkintime.co.in Investor grievance e-mail: montecarloltd.ipo@linkintime.co.in Website: www.linkintime.co.in Contact Person: Shanti Gopalkrishnan |
Other Details:
- Statutory Auditor –Deloitte Haskins & Sells, LLP.
- Peer Review Auditor –NA
- Bankers to the Company – Oriental Bank of Commerce, Indian Overseas Bank , IDBI Bank Limited, The RBL Bank Ltd, Axis Bank Ltd, SBI, IDFC First Bank Ltd
Montecarlo Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.8/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.8/10 | 7.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 7.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.8/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.8/10 |
| Zerodha | 6.5/10 | 6.4/10 | 7.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
The ratings would be updated once the financials and the other details of the IPO are released.
Montecarlo Limited IPO Grey Market Premium
The Montecarlo Limited IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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Montecarlo Limited IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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