2017 IPOs: A general overview

30 IPOs raised nearly Rs. 50,000 crores since last Diwali. Whilethe 2017 IPO pipeline has created a lot of buzz in the markets, let’s start from scratch and catch the basic operations of a few companies in the pipeline

 

  • GIC REINSURANCE

General Insurance Corporation of India Ltd. (‘GIC’) is a market leader in the Reinsurance business with a market share of 60% and a trusted brand with 44 years of experience. GIC Re is the largest reinsurance company in India in terms of gross premiums accepted in FY17, which account for app. 60% of the premiums ceded by Indian insurers to reinsurers during FY17. GIC Re is also an international reinsurer which underwrites business from 161 countries. It is ranked as the 12th largest global reinsurer in 2016 and the 3rd largest Asian reinsurer in 2015, in terms of gross premiums accepted.

  • INDIAN ENERGY EXCHANGE LIMITED

Indian Energy Exchange is India’s first power exchange providing an automated trading platform for electricity. The electricity products include electricity contracts in blocks of 15 minutes in the day-ahead-market (DAM). In this segment, the company is a market leader and has maximum number of trades in this segment on its exchange. The other products include electricity contracts for fixed terms in the future, such as intra-day contracts, day-ahead contingency contracts and contracts up to 11 days ahead, known as the term-ahead-market TAM. Also it has presence in RECs trading and has recently launched energy saving certificates (ESCerts).

  • MAS FINANCIAL SERVICES LTD.

MAS Financial Services (MAS) is a Gujarat based NBFC, which is two decades old. It primarily lends to Micro Enterprises (ME) and SME, which contribute 60% and 23% of its AUM respectively. Company’s business and financing is in five categories i.e. micro-enterprise loan, SME loans, two wheeler loans, commercial vehicle loans and housing loans. Company’s AUM has grown at healthy 33.4% CAGR over FY2013-17 with strong asset quality

  • PRATAAP SNACKS LTD

Prataap Snacks is 6th largest Indian snack food company in terms of revenues in FY16 and among the fastest growing company in Indian organized snack industry between FY10-16. It has three product lines i.e. Extruded Snacks (63% of revenue in FY17), Chips (24%) and Namkeen (13%), are selling under Yellow Diamond brand. It has 3 manufacturing facilities (Indore and 2 in Guwahati), 218 distributors and 3,500 super stockists. Total production capacity of company owned manufacturing units is 80,500 MTPA with average capacity utilization rate of ~54%. Further it has 2 contract based manufacturing units in Bangalore and West Bengal respectively. Prataap has registered revenue/EBIDTA/PAT CAGR of 27%/ 27%/23% respectively during FY14-17.

  • GODREJ AGROVET LTD.

Godrej Agrovet Ltd is a diversified R&D based focused Agri- company which is operating under five business verticals like animal feed, crop protection, oil palm, dairy, and poultry and processed foods. It is one of the leading company in animal feed and also the largest crude palm oil producer in India. Certain investment has been made by the company over the years to improve its R&D. It has set up the Nadir Godrej Centre for Animal Research and Development, an R&D centre in Nasik. In addition to this Godrej Agrovet has set-up two dedicated R&D centres for our crop protection business at Mumbai and Thane, which has helped company to launch new products and for oil palm R&D centre is in Andhra Pradesh.

  • SBI LIFE INSURANCE COMPANY LTD:

The company was established as a joint venture between the State Bank and BNPPC in 2001. The company has issued the highest number of individual life policies annually among the top five private life insurers (in terms of total premium in Fiscal 2017) in India since Fiscal 2014. The company has increased its market share of New Business Premium generated among private life insurers in India, from 15.87% in FY2015 to 20.04% in FY2017. Between FY2015 and FY2017, the company’s New Business Premium generated increased at a CAGR of 35.45%, which is the highest among the top five private life insurers (in terms of total premium in FY2017) in India. SBI Life Insurance’s AUMs as of March 31, 2017 stand at Rs.71,338cr and its AUMs were the second highest amongst the top five private life insurers.

 

  • ICICI LOMBARD GENERAL INSURANCE COMPANY LTD.

ICICI Lombard General Insurance Company Ltd (ICICIL), is joint venture between ICICI Bank Limited and Fairfax Financial Holdings. It offers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels (direct sales, individual agents, bank partners, brokers, and online) which serves the individual, corporate and government customers.

 

  • COM LTD.

BharatMatrimony.com is an online match-making services provider that is present across Websites, Mobile Apps and Mobile Websites. It is the leading online match-making services provider with 3.08 Mn free subscribers and 702,000 paid subscribers as of FY17. The company largely operates under its flagship brand BharatMatrimony.com which offers limited access to free subscribers and special features and various paid membership plans. The company also operates CommunityMatrimony.com and EliteMatrimony.com which offer specialized and specific and commands higher realizations. Under Marriage services, the company offers Directory Services, Photography & Videography, Apparal, Decorations, catering, etc and Venue Booking Services which operate under MatrimonyDirectory, MatrimonyPhotography, MatrimonyBazaar and MatrimonyMandaps.com respectively. Its revenue mix primarily comprises of 2 segments – (i) Match Making Services and (ii) Marriage Services. Subscription Revenues contribute majorly to Matchmaking Services whereas a combination of Transaction Fees, Listing Fees and Commissions contribute to Marriage Services.

 

  • CAPACIT’E INFRAPROJECTS LTD

Capacit’e Infra projects Ltd is a fast growing construction company, focused on providing end-to-end construction services for Residential, Commercial and Institutional buildings. The company has a niche operating play with specialized focus on construction of High Rise and Super High Rise buildings and possesses technological competence for the same. As of 31 May 2017, Capacit’e has an order book of ` 4602.47 cr with 56 ongoing projects across major metro cities in India; with Residential/Commercial/Institutional buildings constituting for 90.05%/9.58%/0.37% of their order book respectively. On geographical stand point, the order book comprises of 70.83%/22.84%/6.33% from West Zone/South Zone/North Zone respectively.

 

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