Silverpoint Infratech Ltd was west Bengal based company integrated in 1997; The Company currently affianced in the providing land development, construction services and other related services for civil & structural construction and infrastructure sector projects. The Individual promoters were Mr. Sanjay Kumar Drolia, Mr. Mohan Lal Surekha and company corporate promoters were M/s saffron Vinimay Private Limited and M/s Shivamangal Commercial Private Limited.
Silverpoint Infratech Ltd were clients includes Binani Cement Ltd, PACL India Limited, Jain Infra projects Limited, Prakash Constrowell Limited, NKC Projects Pvt. Ltd VKS Projects Ltd, Shri Mahavir Ferro Alloys Pvt. Ltd and Kivar Infra Pvt. Ltd along with others.
Objects of the Issue:
- The objects of the Offer are to attain the benefits of listing the Equity Shares on the Stock Exchanges
- Carry out the vending of 80, 00,000 Equity Shares by the Selling Shareholders.
ISSUE DEAILS:
- Issue Open: 12 August 2013 – 14 August 2013
- Issue Type: Fixed Price Issue IPO
- Issue Size: 8,000,000 Equity Shares of Rs. 10
- Issue Size: Rs. 12.00 Crore
- Face Value: Rs. 10 Per Equity Share
- Issue Price: Rs. 15 Per Equity Share
- Listing At: BSE, SME
- Lead Managers: Inventure Merchant Banker
COMPANY FINACIALS:
Silverpoint Infratech Limited has posted average earnings per share of Rs. 0.17 for last 3 fiscals. For the eleven months ended on 28.02.13, it has earned net profit of Rs. 0.49 crore on a turnover of Rs. 230.75 crore translating in to an Earnings per Share of Rs. 0.27. Consequently the asking price at Rs. 15 is at 55+ P/E. Between March 2005-March 2009 Silverpoint Infratech Ltd. issued 1968913 equity shares at a price of Rs. 200 on preferential basis and in July 2012 issues bonus in the ratio of 9 shares for every 1 share held. Listed fancy peers like Era Infra, Jaypee Infra etc are trading at a sprawling twelve months P/E of around 7 to 16. Click here to know more about Silverpoint Infratech Limited Ipo.
CONCLUSION:
Seeing that the merchant banker’s performance, this is the fourth Small/Medium Enterprises {SME} issue from their stable and considering their market game in its own parent company and the other mandates listing, one may get some rewards. But current status is not having hopeful trends and for this reason, investors should AVOID this offer.