Puranik Builders IPO – Review, Allotment status, Subscription, GMP & more

Puranik Builders Limited are among the prominent residential real estate developers in Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”) based on a number of units currently being marketed in these regions. Puranik Builders IPO consists of * Equity shares of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Puranik Builders IPO release date, IPO offer price, subscription, Puranik Builders IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

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Puranik Builders IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.8/10
Industry Ranking8.7/10
Company Background7.9/10
Company Reputation8.6/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.7/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings7.9/10
Star Ratings★★★★☆

Summary of Puranik Builders Limited  IPO

Puranik Builders IPOThey are among the prominent residential real estate developers in Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”) based on number of units currently being marketed in these regions. They are also among the leading residential real estate developers in the growing Thane region of MMR based on the projects currently being marketed and corresponding units sold (Source: C&W Report).

They have a longstanding presence of over 28 years in the real estate market in India, developing residential projects in the mid-income affordable housing segment in the MMR and the PMR real estate markets. Their projects primarily cater to certain research-based strategic price ranges within the mid-income affordable housing market segment. As of March 31, 2018, they had completed 29 projects in the MMR and PMR.

They commenced operations in Thane in 1990 and have over the years diversified into other micro-markets within the MMR and the PMR. They believe they have consistently catered to evolving customer preferences, including theme-based projects, thereby successfully navigating fluctuating market conditions, leveraging our considerable experience operating in MMR and PMR markets under the guidance of our technically qualified Promoters supported by a team of experienced professionals.

According to the Restated Financial Statements

Their fiscal year ends on March 31 of each year, and references to a particular fiscal are to the twelve months ended March 31 of that year. Unless otherwise indicated, the financial information included herein is based on our Restated Consolidated Financial Statements included in this Draft Red Herring Prospectus.

They have, in this Draft Red Herring Prospectus, included various operational and financial performance indicators, some of which may not be derived from our Restated Consolidated Financial Statements and may not have been subjected to an audit or review by our Statutory Auditor.

The Promoter of this company is Shailesh Puranik, Shrikant Puranik, Yogesh Puranik, Nilesh Puranik, Puranik Business Private Trust (“Puranik Business Trust”) and Puranik Family Private Trust (“Puranik Family Trust”).  The lead manager to the issue is Edelweiss Financial Services Limited, IIFL Holdings Limited and the Karvy Computershare Private Limited.


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    Puranik Builders IPO Date

    The opening and the closing date of IPO of Puranik Builders Limited is not known yet.


    Puranik Builders IPO Subscription

    Day / DateQIBNIIRIITotal Subscription
    1st Day – 
    2nd Day –
    3rd Day –
    Shares Offered or Net Issue
    • NSE Live Bid Details
    • BSE Live Bid Details

    The shares subscribed by the public will be updated herein.


    Puranik Builders IPO Allotment Status

    Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

    Puranik Builders IPO Listing Date

    Find the dates below for basis of allotment, refund, listing and more:

    Basis of Allotment Finalization
    Refunds Initiation
    Credit of Shares to Demat Account
    Share Listing Date

    Puranik Builders IPO Price Band

    The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


    Puranik Builders 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 (* Issue Price).


    Puranik Builders Limited – Company Overview

    They are among the prominent residential real estate developers in Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”) based on number of units currently being marketed in these regions. The company is also among the leading residential real estate developers in the growing Thane region of MMR based on the projects currently being marketed and corresponding units sold (Source: C&W Report).

    Their projects primarily cater to certain research-based strategic price ranges within the mid-income affordable housing market segment. As of March 31, 2018, they had completed 29 projects in the MMR and PMR.

    They commenced operations in Thane in 1990 and have over the years diversified into other micro-markets within
    the MMR and the PMR. They believe they have consistently catered to evolving customer preferences, including
    theme-based projects, thereby successfully navigating fluctuating market conditions, leveraging our considerable
    experience operating in MMR and PMR markets under the guidance of our technically qualified Promoters
    supported by a team of experienced professionals.

    Business strategies of Puranik Builders Limited:

    • Continue to focus on the mid-income affordable housing segment
    • Consolidate our position as a prominent real estate developer in the MMR and the PMR
    • Capitalise on emerging opportunities in rapidly evolving regulatory regimes and industry trends
    • Continue to focus on our flexible and asset-light model
    • Pursue opportunities in the low-income affordable housing segment
    • Continue to upgrade technology to drive operational efficiency and deliver quality products to our customers

    Puranik Builders Limited – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Millions)
    31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Total Assets16,813.7213,666.119,982.86
    Total Revenue5,120.843,048.312,504.31
    Total Expense4,381.152,725.022,242.73
    Profit After Tax507.21199.19165.48

    Earnings per Equity Share (in Millions)

    31-Dec-1831-Mar-1731-Mar-16
    Basic 5.522.962.80
    Diluted 5.522.962.80

    From the above statements, one could find that the Puranik Builders Limited may perform well.


    Puranik Builders IPO – Promoters

    The Promoter of this company are:

    1. Shailesh Puranik, 
    2. Shrikant Puranik, 
    3. Yogesh Puranik, 
    4. Nilesh Puranik, 
    5. Puranik Business Private Trust (“Puranik Business Trust”)
    6. and Puranik Family Private Trust (“Puranik Family Trust”)

    List of Related Parties (Key Managerial Personnel)

    • Aditya Menon
    • Vishal Bangard / Pranay Doshi
    • M Murali Krishna

    Interest in the promotion of the Company

    Their Promoters are interested in our Company to the extent that they have promoted our Company, to the extent
    of their shareholding in our Company and the dividends payable, if any, and any other distributions in respect of
    the Equity Shares held by them.

    Their Promoters do not have any interest, whether direct or indirect, in any property acquired by our Company in
    the two years preceding the date of this Draft Red Herring Prospectus or proposed to be acquired by our Company,
    or in any transaction by our Company for acquisition of land, construction of building or supply of machinery.

    Property Interest

    The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires the approval of the majority shareholders vote.

    Interest in Intellectual Rights of the Company

    Promoters have not shown any interest in acquiring the intellectual rights of the company.


    Puranik Builders IPO Offer Details or Issue Details 

    OfferUp to * Equity Shares aggregating up to Rs *million
    Of which
    Fresh IssueUp to [•] Equity Shares aggregating up to Rs. 8,100 million
    Offer for SaleUp to 1,859,620 Equity Shares aggregating up to [●] million
     of which
    Offer for sale by promotersUp to * Equity Shares aggregating up to [●] million
    Of which:
    – Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion))Up to * Equity Shares
    Pre and post-Offer Equity Shares
    Equity Shares outstanding as of the date of this Draft* Equity Shares
    Equity Shares outstanding prior to the Offer57,648,207 Equity Shares
    Equity Shares outstanding after to the offer* Equity Shares
    Use of Offer ProceedsAs the Offer comprises an Offer for Sale, their Company will not receive any proceeds from the Offer.

    Puranik Builders IPO Issue Object

    • Monitoring of Utilization of Funds and
    • General corporate purposes.

    Puranik Builders 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:

    1. Longstanding operations in the attractive real estate markets of MMR and PMR;
    2. Focus on and experience in the mid-income affordable housing segment;
    3. Strategic pricing for the MMR and PMR micro-markets;
    4. Differentiated and diversified product offerings;
    5. Integrated project execution and management capabilities;
    6. Established brand and customer goodwill in the MMR and the PMR markets;
    7. Proven track record for development of quality projects;
    8. Experienced and qualified Promoters and senior management team;
    9. Strong pipeline of projects; and
    10. Asset-light model for development of projects through joint development agreements, joint venture
    arrangements and development management (DM) model.

    The relevant quantitative factors are:

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-185.529.71
    31-Mar-172.969.31
    31-Mar-162.809.49
    • Industry P/E Ratio:
    ParticularsP/E ratio
    Average
    Highest
    Lowest
    • Competitive Peers:

    There are no comparable listed companies in India engaged substantially in the same line of business as their Company, hence the comparison with industry peers is not applicable.


     

    Puranik Builders IPO Lead Managers

    Lead Managers
    Edelweiss Financial Services Limited

    IIFL Holdings Limited

     

    Registrar to the Offer
    Karvy Computershare Private Limited

    Karvy Selenium Tower B, Plot 31-32, Gachibowli,
    Financial District, Nanakramguda, Hyderabad 500 032
    Telephone: +91 40 6716 2222
    Facsimile: +91 40 2343 1551
    E-mail: einward.ris@karvy.com
    Investor grievance e-mail: puranik.ipo@karvy.com
    Website: http://karisma.karvy.com
    Contact person: M Murali Krishna
    SEBI registration No.: INR000000221


    Other Details:

    • Statutory Auditor – Sanjay Rane & Associates
    • Bankers to the Company –  Andhra Bank, HDFC Bank Limited and State Bank of India.

    Puranik Builders IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking6.2/106.2/107.2/107.2/106.2/10
    Sharekhan7.3/107.3/106.7/106.2/107.3/10
    Kotak Securities8.2/108.2/107.3/107.3/108.2/10
    ICICI Direct7.7/107.3/107.7/108.2/107.7/10
    IIFL6.8/108.2/106.8/106.8/106.8/10
    Edelweiss7.3/107.3/106.2/107.3/107.3/10
    Zerodha6.2/106.2/107.3/106.2/106.2/10
    5Paisa7.3/107.3/108.2/107.3/107.3/10
    Karvy8.2/108.2/108.2/108.2/108.2/10
    Motilal Oswal7.1/107.1/107.7/107.3/107.2/10

    The ratings would be updated once the financials and the other details of the IPO are released.


    Puranik Builders IPO Grey Market Premium

    The Puranik Builders IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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      Puranik Builders IPO News

      News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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