mohannd
619 posts
Context Millworks
Pattern :Airfloa, Flysbs
And the outcome -- though the Co's are are fundamentally good ,worth tracking. Believe they shall do good in future --but the kind of anchoring and the support they needed seems missing atleast as of now
This is what it is
रिमी@amurfalcon1
Just a Trivia -- What's common btw Millworks ,Airfloa and FlySBS? Technically, Fundamentally & the shareholding.
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@mohannd0202 possible as there was no demand in IPO , subscribed less than 3x
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Do you know 🤯
63% of Bengaluru car owners struggle to find a legal and safe parking spot
major Indian cities can spend an average of 15-30 minutes daily just searching for parking.
road rage, parking issues, and FASTag deactivation are top 3 anxiety triggers
#SOTEFIN
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Metalic Technoforge SME IPO – What my study suggests 👇
After going through the RHP, company brochure and comparing it with listed peers, here's what stands out.
✔️ The company is coming at around 15x P/E, while delivering PAT margins above 12%.
Compare that with Paramount Speciality Forgings, which trades at a similar valuation despite PAT margins of only ~3–4%.
Prima facie, the difference appears to be driven by:
• Better product mix
• End-to-end manufacturing capabilities
• Higher value-added engineering products
Some additional positives:
✅ 42% of revenue comes from exports, with Germany being one of the key export markets.
✅ 20,000 sq. m. integrated manufacturing facility with 7,500 MT forging capacity and 3.6 million machined parts annual capacity.
✅ Advanced infrastructure comprising forging presses & hammers, CNC gear hobbing, CNC turning & milling centres, broaching and world-class quality testing equipment.
✅ The expansion is being undertaken on land already owned by the company, reducing execution and land acquisition risks.
✅ Around 55% of the company's energy requirement is met through its 1 MW solar plant, reflecting a focus on operational efficiency and sustainability.
However, a few points deserve close monitoring:
⚠️ Cash conversion cycle is on the higher side.
⚠️ Inventory days are close to 100.
⚠️ Existing capacity utilisation is already around 90%, making FY27 a relatively challenging year for volume growth. Since the new capacity is likely to take at least a year to become operational, any near-term growth may depend more on an improved product mix than higher production.
⏳ FY28 could be the real year of performance once the expansion starts contributing.
🤔 One observation: In today's SME IPO market, valuations sometimes run ahead of fundamentals. Against that backdrop, Metalic Technoforge appears to have a manufacturing setup that is stronger than what some richly valued recent listings suggest.
🚀 The next major trigger, in my view, would be meaningful entry into aerospace and defence. If the company is able to qualify and scale in those segments, it could significantly expand its long-term opportunity.
Disclosure: I have applied in this IPO with a long-term investment horizon. This is not a buy or sell recommendation. These are my personal observations based on publicly available information. Please read the RHP and conduct your own due diligence before making any investment decision.
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View is nifty can touch 23800 and then bounce back. Today Bank Nifty is dragging nifty.On daily time frame BN is at important support.For intraday both side opportunities are coming.Just one need to be selective.
Nifty 1 Hr. BN daily.
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**🚨 Sotefin Bharat has interesting Pre-IPO Investors 👀**
A few notable names in the pre-IPO investor list:
• **Ritika Nikhil Jaisinghani** – Polycab promoter family
• **Ajay Jaisinghani** – Polycab promoter family
Also interesting, the **Anchor Book** includes **GetFive Opportunity Fund 1**, a fund that has previously invested in multibagger SME names such as **iWare**, **EPW**, and **TeamTech**.
Certainly a list worth tracking. The real value, however, will depend on Sotefin Bharat's business execution after listing.
**Disclaimer:** This post is for informational purposes only and should not be construed as investment advice. Please do your own research before investing.The identity of "Ajay Jaisinghani" in the pre-IPO list has not been independently verified and should not be treated as confirmed.
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SBI FUND MANAGEMENT IPO
Issue Price ₹574
Listed At ₹613 (6.5% up)
Current Price ₹584
All Gains vanished in one day post listing after heavy selling. Anyone still Holding? ya sab bech kar nikal gaye?
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mohannd retweetledi
After fighting a court case for nearly 15 years and spending around 10 lakh in legal expenses against my uncle and tau, i finally got my share of the land.
What should i build here?
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🚗 Sotefin Bharat IPO: More than a fabrication company. Less than a proven moat.
At ₹187 (19.5x TTM PE), valuation isn't cheap, but it's not irrational either when compared with LT Elevator (~29x PE).
What I liked:
✅ Swiss technology with robotic parking systems.
✅ Import substitution of robotic dollies + potential exports to the Swiss parent after expansion.
✅ ₹534 Cr order book provides multi-year visibility.
✅ Management targets reducing the working capital cycle from ~220 days to ~140 days.
✅ Future optionality in automated material storage & retrieval systems.
✅ MoUs with Karnataka Govt & MMRDA could open larger opportunities.
What worries me:
⚠️ ₹8 Cr of IPO proceeds for a new office is poor capital allocation.
⚠️ Government & real-estate clients = receivables and cash conversion will matter more than revenue growth.
⚠️ Long execution cycle means the order book won't convert into revenue quickly.
The real bet isn't this IPO. The real bet is whether India's parking crisis becomes a multi-decade investment theme.
I have applied.
Disclaimer: This is my personal view, not investment advice or a recommendation to subscribe. Please read the RHP, evaluate the business, valuation, and risks, and make your own investment decision.
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@ipo_mantra Happy steels sir from the same group as happy forgings subscribed 71 times available @8% discount. No brainer
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Aquila SME@AquilaSME
#SotefinBharat #UpcomingIPO ~ Business Model - Automated and Mechanised Parking Solutions 🤖 ~ Indian arm of Sotefin SA, a Swiss company that's been building mechanized parking systems since 1956 M.Cap - 340Cr FY26 Rev 118cr/PAT 17cr - PE 20 Issue Size - 90crs ~ Current Order Book 670cr++ (on Jun2025) ~ Industry CAGR - 12-18% for 2023-2030 👍 ~ Products -> 1) Robotic Parking System 2) Puzzle Parking System 3) Tower Parking System 4) Stack Powering System ~ Pre IPO - Polycab Family holds 3.6% Stake 👍 ~ Rest will share about business , future and risks in depth later on
ZXX
Expecting these stocks may give Atleast 30% to 40 % Returns in short term
1) Laser Power and infra Ltd
2) Happy Steels Ltd
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HAPPY STEEL SME IPO BUSINESS REVIEW. 🌟APPLIED. GOOD COMPANY with high quality products. Ludhiana based company formed in 2016 makes forged, machined parts for heavy duty applications like tractors and other off-road vehicles as well as CVs. It supplies these to OEMs with “heavy duty axles” taking up ~60% of sales. Somewhat like EMMFORCE
🩷LIKE, READ FULL REVIEW & DECIDE
This business review is based on DRHP/RHP filed by the company at Exchange & is based on reviewer’s understanding of the documentation. For a full understanding of risks, financials, objectives & prospects suggest to go through the RHP in detail & form own opinion
OBJECTS: Out of Rs. 25Cr Raised, Rs.13Cr for capex, Rs.5 Cr for loan repayment and rest for general and listing expenses
Capex is for enhancing and introducing latest forging machines and processes to offer advanced products to the heavy duty vehicle industry
BUSINESS & PROSPECTS:
Company makes drive shafts, axles and spindles for CVs, tractors and other off road vehicles for OEMs. Also supplies to the repair and service market. Almost 70% revenue is from sales of Axles.
Business has been steady growing from 81Cr sales in Fy24 to Rs.94 Cr in Fy26 with about 18% export revenue
~60% revenue is from off road applications including tractors and other off road vehicles used in agriculture and infrastructure construction.
The manufacturing process is completely in-house with cutting, forging, heat treatment, machining etc at Ludhiana unit.
The 13Cr expansion is expected to drive growth since more advanced products can be offered for the latest heavy duty off-road as well as on-road vehicles.
Forging capacity will increase by 75% to 13,600MTPA. As per fund utilization plan, the capex is scheduled to be complete in Q4 Fy27 (This may spill over to next quarter. Some machinery needs to be imported)
The promoters have built a strong, high quality business with more than 400 employees on roll (not daily wage). 👍
This is NOT like so many crap, small-scale steel and machining IPOs listed in last 2 years.
There is QUALITY in this Heavy Duty, Forged & Machined drive-parts business.👍
Company has done good amount of capex in Fy26 (cutting & machining segments) with some work still in progress. This can contribute to increased sales in FY27 itself.
Further large business growth, will depend on new forging machinery installation with IPO funds and also growth in exports to expand TAM. Company has found foothold in Indonesia, to expand exports. (p 160) This is important, since growth within country may be steady only and not explosive for this segment.
VALUATION AND DECISION:
Rs. 66 is at 13x its TTM earnings, on post IPO equity basis. EMMFORCE is at 45p/e now. BUT for more than 2 years after listing, EMMFORCE was under 20p/e and there was long period of consolidation. That has to be noted. Feel initially HAPPY Steel may move in the range of 12 to 20 p/e)
APPLIED. If LISTING is poor, then will exit and re-enter later when things start looking up.
Even if market does not recognize worth of this company at listing time, somewhere in FUTURE, it will understand, this is a Different Player👍
Suggest to assess by yourself and take your own decision, after further study, considering various factors discussed and any other info available.
🩷LIKE, BOOKMARK HAPPY STEEL SME IPO REVIEW
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@balakoteswar @BaluGorade same 1.5 cr can put fd and apply ipo and earn interest also good idea.
Buy lucky if got 5 ipo can earn little more too
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The problem is that the principal doesn’t appreciate.
Over time, inflation will erode the purchasing power of ₹90,000, making it insufficient.
A better approach would be to build a corpus of ₹2 crore and invest in a quality dividend-growth company such as ITC or Coal India, offering a dividend yield of around 5–6%.
At a 5% dividend yield, you could earn about ₹83,000 per month in dividend income.
The key advantage is that dividend payouts have the potential to grow over time (historically around 10% annually for some companies), while your principal may also appreciate as the business expands. This gives you both rising income and long-term capital growth.
⚠️Disc: Educational purposes only, ITC and Coal India are not a recommendation, just an example.
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After retirement, if you put ₹1.5 crore in a fixed deposit,
at 7% interest, it can generate around ₹90,000 a month.
No income tax on annual income up to ₹12 lakh.
That's enough to live comfortably for many.
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