Public Listing

Category: SME IPO

  • Grand Continent Hotels Limited IPO

    Grand Continent Hotels IPO Analysis: A Comprehensive Guide

    Grand Continent Hotels IPO: Comprehensive Analysis and Investment Guide

    The IPO market continues to offer exciting opportunities for investors. One such opportunity is the Grand Continent Hotels IPO, opening on March 20, 2025. This comprehensive guide provides an in-depth analysis of the IPO, covering everything from company details to investment considerations. Whether you are a seasoned investor or new to the IPO landscape, this article will equip you with the knowledge needed to make an informed decision.

    Grand Continent Hotels Logo

    What is Grand Continent Hotels Limited?

    Grand Continent Hotels Limited, established in 2011, operates as a hotel chain primarily targeting the mid-market segment in India. With 19 properties across six major cities and over 900 rooms, the company focuses on providing value-for-money accommodations to both business and leisure travelers. Their hotels are strategically located in prime urban areas, offering modern amenities and straightforward service interactions.

    Key Highlights of Grand Continent Hotels:

    • Mid-Market Focus: Catering to middle-class guests and business travelers.
    • Strategic Locations: Properties in key urban areas across India.
    • Modern Amenities: Well-furnished rooms, on-site dining, conference facilities, and complimentary Wi-Fi.

    Grand Continent Hotels IPO Details

    The Grand Continent Hotels IPO is a book-built issue aiming to raise Rs 74.46 crores through a combination of fresh issue and offer for sale. Here are the key details:

    IPO DateMarch 20, 2025 to March 24, 2025
    Listing DateTentatively, March 27, 2025
    Face Value₹10 per share
    Issue Price Band₹107 to ₹113 per share
    Lot Size1,200 Shares
    Total Issue Size65,89,200 shares (aggregating up to ₹74.46 Cr)
    Fresh Issue62,60,400 shares (aggregating up to ₹70.74 Cr)
    Offer for Sale3,28,800 shares (aggregating up to ₹3.72 Cr)
    Listing AtNSE SME
    0%
    March 20, 2025 (IPO Open) March 24, 2025 (IPO Close) March 25, 2025 (Allotment) March 27, 2025 (Listing)

    IPO Reservation Details

    The IPO allocates shares to different investor categories as follows:

    Investor CategoryShares OfferedPercentage
    Anchor Investor18,73,20028.43%
    Market Maker3,30,0005.01%
    QIB12,49,20018.96%
    NII (HNI)9,37,20014.22%
    Retail21,87,60033.2%
    Total65,89,200100%

    Lot Size and Investment

    Investors can bid for a minimum of 1200 shares and in multiples thereof.

    ApplicationLotsSharesAmount (at ₹113 per share)
    Retail (Min)11200₹1,35,600
    Retail (Max)11200₹1,35,600
    HNI (Min)22400₹2,71,200

    Grand Continent Hotels IPO: Anchor Investors

    Grand Continent Hotels IPO has raised Rs 21.17 crore from anchor investors, which indicates strong institutional interest. The anchor bid date was March 19, 2025, highlighting early confidence in the company’s potential.

    Bid DateMarch 19, 2025
    Shares Offered18,73,200
    Anchor Portion Size (In Cr.)21.17
    Anchor lock-in period end date for 50% shares (30 Days)April 24, 2025
    Anchor lock-in period end date for remaining shares (90 Days)June 23, 2025

    Company Financials

    Understanding the financial health of Grand Continent Hotels Limited is crucial for investors. Here’s a snapshot of their financial performance:

    Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
    Assets97.9473.9142.2634.37
    Revenue31.8631.5317.056.03
    Profit After Tax6.814.121.05-0.79
    Net Worth40.1829.990.59-1.63

    Amount in ₹ Crore

    Key Performance Indicators (KPI)

    Analyzing the KPIs provides insight into the company’s efficiency and profitability.

    KPIValue (as of Sun, Mar 31, 2024)
    Market CapitalizationRs 281.59 Cr
    ROE25%
    ROCE17%
    Debt/Equity1.13
    RoNW26.67%
    PAT Margin13.05%
    Price to Book Value1.50

    Objects of the Issue

    The IPO aims to utilize the net proceeds for the following objectives:

    • Repayment and/or prepayment of outstanding borrowings: ₹340.81 Million
    • Expansion of hotel properties in India: ₹167.92 Million
    • General Corporate Purpose

    Promoter Holding

    The promoters of Grand Continent Hotels Limited are Mr. Ramesh Siva and Mrs. Vidya Ramesh.

    • Share Holding Pre Issue: 75.02%
    • Share Holding Post Issue: *Value will be calculated based on Equity Dilution

    Company Contact Details

    For further information, you can contact the company at:

    • Address: S No. 245/1A/1B, Venpursham Village, Veeralapakkam, Thiruporur, Chengalpattu, Mamallapuram, Kanchipuram, Tirukalikundram-603110
    • Phone: 080 4165 6491
    • Email: cs@grandcontinenthotels.com
    • Website: https://grandcontinenthotels.com/

    IPO Registrar

    The registrar for the Grand Continent Hotels IPO is:

    Conclusion

    The Grand Continent Hotels IPO presents an interesting opportunity for investors looking at the mid-market hospitality segment. With strategic locations, modern amenities, and a focus on value-for-money, the company is well-positioned to capitalize on industry tailwinds.

    However, as with any investment, it's essential to consider the risks and conduct thorough research. By analyzing the company's financials, objectives, and other relevant details, investors can make a well-informed decision and assess whether this IPO aligns with their investment goals.

  • Super Iron Foundry Limited IPO

    Super Iron Foundry IPO: A Comprehensive Analysis

    Super Iron Foundry IPO: A Comprehensive Analysis

    The Initial Public Offering (IPO) landscape in India is ever-evolving, presenting numerous opportunities for investors. One such opportunity was the Super Iron Foundry Limited IPO, which opened on March 11, 2025, and closed on March 13, 2025. This blog post delves into the details of the IPO, providing a thorough analysis to help investors understand the offering.

    Understanding Super Iron Foundry Limited

    Super Iron Foundry Limited, incorporated in July 1988, specializes in manufacturing a diverse range of castings, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, and cast-iron counterweights. These products cater to various industries and infrastructure projects.

    Super Iron Foundry IPO Logo

    The company's product applications include:

    • Municipal Castings: Access covers for stormwater, sewerage, and telecommunications.
    • Ductile Iron Pipe Fittings: Used in water supply and distribution networks.
    • Automotive and Agricultural Castings: Components for automotive and agricultural equipment.
    • Railway Castings: Parts used in railway infrastructure.
    • Cast Iron Counterweights: Used for weight balancing and stability in various applications.

    Key Details of the Super Iron Foundry IPO

    Let's break down the essential information about the IPO:

    • IPO Date: March 11, 2025 to March 13, 2025
    • Listing Date: March 19, 2025
    • Face Value: ₹10 per share
    • Issue Price: ₹108 per share
    • Lot Size: 1,200 Shares
    • Total Issue Size: 63,01,200 shares (aggregating up to ₹68.05 Cr)
    • Fresh Issue: 63,01,200 shares (aggregating up to ₹68.05 Cr)
    • Issue Type: Fixed Price Issue IPO
    • Listing At: BSE SME

    IPO Progress Tracker

    March 11, 2025 (IPO Open) March 13, 2025 (IPO Close) March 17, 2025 (Allotment) March 19, 2025 (Listing)

    IPO Reservation Details

    The IPO allocated shares to different investor categories as follows:

    Investor CategoryShares OfferedPercentage
    Market Maker3,15,6005.01%
    Non-Institutional Investors (NII)29,92,80047.5%
    Retail Investors (RII)29,92,80047.5%
    Total63,01,201100%

    IPO Timeline

    Here’s a schedule of the IPO events:

    EventDate
    IPO Open DateTue, Mar 11, 2025
    IPO Close DateThu, Mar 13, 2025
    Tentative AllotmentMon, Mar 17, 2025
    Initiation of RefundsTue, Mar 18, 2025
    Credit of Shares to DematTue, Mar 18, 2025
    Tentative Listing DateWed, Mar 19, 2025

    Lot Size and Investment Details

    Investors could bid for a minimum of 1200 shares and in multiples thereof. Here’s the investment breakdown:

    ApplicationLotsSharesAmount
    Retail (Min)11200₹1,29,600
    Retail (Max)11200₹1,29,600
    HNI (Min)22,400₹2,59,200

    Promoter Holding

    The promoters of Super Iron Foundry Limited are Abhishek Saklecha, Akhilesh Saklecha, Neha Saklecha, and Priyanka Saklecha.

    • Share Holding Pre Issue: 96.53%
    • Share Holding Post Issue: 70.53%

    Company Financials

    Here’s a snapshot of the company's financial performance:

    Period Ended31 Dec 2024 (₹ Crore)31 Mar 2024 (₹ Crore)31 Mar 2023 (₹ Crore)31 Mar 2022 (₹ Crore)
    Assets226.62232.32209.21197.75
    Revenue94.91156.87126.23132.31
    Profit After Tax9.533.941.280.88
    Net Worth70.5956.5652.6251.33
    Total Borrowing110.96118.63120.44125.72

    Key Performance Indicators (KPI)

    As of March 31, 2024:

    • ROE: 7.53%
    • ROCE: 7.22%
    • Debt/Equity: 6.26
    • RoNW: 6.97%

    Objects of the Issue (IPO Objectives)

    The Company Super Iron Foundry IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

    S.No.Objects of the IssueExpected Amount (in Million)
    1Funding of working capital requirements of the company290
    2Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company160
    3General corporate purposes152.44

    Company Contact Details

    • Company: Super Iron Foundry Limited
    • Address: Aspiration Vintage, 12, Pretoria Street, 1st Floor, Suite 1B, Kolkata – 700071
    • Phone: +91 334060305
    • Email: cs@superironfoundry.com
    • Website: https://www.superironfoundry.com/

    IPO Registrar

    Conclusion

    The Super Iron Foundry IPO presented a significant opportunity for investors to participate in the growth of a company with a diverse product portfolio and a strong presence in the casting industry. By understanding the IPO details, company financials, and future prospects, investors could make informed decisions. The analysis provided here aims to equip readers with a comprehensive overview of the IPO, facilitating a clearer understanding of the investment landscape.

  • PDP Shipping & Projects Limited IPO

    PDP Shipping IPO Analysis: A Comprehensive Guide

    PDP Shipping IPO Analysis: A Comprehensive Guide for Investors

    PDP Shipping IPO Logo

    Are you considering investing in the PDP Shipping IPO? This comprehensive guide will walk you through everything you need to know, from the company's background and IPO details to financial performance and expert reviews. We aim to provide a balanced perspective to help you make an informed investment decision.

    Understanding PDP Shipping & Projects Limited

    Incorporated in 2009, PDP Shipping & Projects Limited offers comprehensive logistics solutions, including sea/air freight, customs clearance, and project logistics. As an Authorized Economic Operator (AEO), they facilitate global cargo transportation, focusing on specialized goods and key international markets.

    • Multimodal Transport Operations (MTO): Flexible transport solutions via rail, road, and air.
    • Air Freight: Strong relationships with global airline carriers for competitive rates.
    • Ocean Freight: Coordination of freight shipping by sea, offering flexible schedules and shipment tracking.
    • Packaging, Warehousing, Transportation & Distribution: Ensuring safe storage, timely delivery, and efficient inventory management.

    Key IPO Details

    Here’s a snapshot of the PDP Shipping IPO:

    • IPO Date: March 10, 2025 to March 12, 2025
    • Listing Date: March 18, 2025
    • Face Value: ₹10 per share
    • Issue Price: ₹135 per share
    • Lot Size: 1,000 Shares
    • Total Issue Size: 9,37,000 shares (aggregating up to ₹12.65 Cr)
    • Listing At: BSE SME

    Progress Tracker: PDP Shipping IPO Journey

    IPO Open: March 10, 2025 IPO Close: March 12, 2025 Allotment: March 13, 2025 Listing: March 18, 2025

    IPO Subscription Details

    The IPO allocated shares as follows:

    Investor CategoryShares OfferedPercentage
    Market Maker47,0005.02%
    Other4,45,00047.49%
    Retail4,45,00047.49%
    Total9,37,001100%

    Lot Size and Investment Details

    Here’s a breakdown of the investment required:

    ApplicationLotsSharesAmount
    Retail (Min/Max)11000₹1,35,000
    HNI (Min)22,000₹2,70,000

    Company Financials (₹ Crore)

    A look at PDP Shipping's financial performance:

    Period Ended30 Nov 202431 Mar 202431 Mar 202331 Mar 2022
    Assets12.328.266.224.22
    Revenue13.7820.5822.628.73
    Profit After Tax1.572.311.681.91
    Net Worth7.415.843.521.85

    Key Performance Indicators (KPI)

    Important metrics to consider:

    KPIValue (as of Fri, Mar 31, 2023)
    ROE39.62%
    ROCE50.04%
    Debt/Equity0.09
    PAT Margin7.48
    Price to Book Value4.71

    Promoter and Shareholding

    Promoter: Animesh Kumar

    • Share Holding Pre Issue: 99.9986%
    • Share Holding Post Issue: 68.50%

    Objects of the Issue

    The company intends to use the IPO proceeds for:

    • Part funding long-term working capital requirements (₹100 Million)
    • General corporate purposes (₹8 Million)

    Company Information

    • PDP Shipping & Projects Limited A-606, Mahavir Icon, Plot numbers 89 & 90, Sector 15, CBD Belapur, Navi Mumbai - 400 614 Phone: 022 2756 5053 Email: compliance@pdpprojects.com Website: https://www.pdpprojects.com/

    Registrar Information

    Conclusion

    The PDP Shipping IPO presents an opportunity to invest in a logistics solutions provider with a diversified service portfolio. However, potential investors should carefully consider the financial performance, competitive landscape, and risk factors before making a decision. This analysis provides a foundation for further research and evaluation. Always consult with a financial advisor before making investment decisions.

  • NAPS Global India Limited IPO

    NAPS Global India IPO: A Comprehensive Analysis

    NAPS Global India IPO: A Comprehensive Analysis

    The Initial Public Offering (IPO) market continues to be a dynamic space for investors seeking growth opportunities. NAPS Global India Limited recently launched its IPO, offering a chance to invest in a company involved in the wholesale import of textiles and garment manufacturing supply chain. This blog post provides a detailed analysis of the NAPS Global India IPO, covering essential aspects to help you make an informed decision.

    Company Overview

    NAPS Global India Limited, incorporated in March 2014, operates as a wholesale importer of textiles and is a significant player in the garment manufacturing supply chain in Maharashtra. The company's product range includes various fabrics and garments, catering to a business-to-business model.

    • Core Business: Wholesale importer of textiles.
    • Product Range: Cotton Fabrics, Velvet Fabrics, Knitted Fabrics, Women's Tops, Men's Shirts, and Kids Wear.
    • Operations: Pan-India operations with a strong supplier network in China and Hong Kong.

    IPO Details

    Understanding the specifics of the IPO is crucial for potential investors. Here's a breakdown of the key details:

    • IPO Size: Rs 11.88 crores
    • Issue Type: Fixed Price Issue
    • Fresh Issue: 13.20 lakh shares
    • Price: ₹90 per share
    • Lot Size: 1600 Shares
    • Listing: BSE SME

    IPO Timeline

    Stay updated with the IPO's progress through the following timeline:

    Tentative Schedule:

    EventDate
    IPO Open DateMarch 4, 2025
    IPO Close DateMarch 6, 2025
    Tentative AllotmentMarch 7, 2025
    Initiation of RefundsMarch 10, 2025
    Credit of Shares to DematMarch 10, 2025
    Tentative Listing DateMarch 11, 2025

    Subscription Details

    The IPO witnessed the following subscription status:

    Investor CategoryShares OfferedPercentage Allocation
    NII6,24,00047.27%
    RII6,24,00047.27%
    Market Maker72,0005.45%

    Lot Size Details

    Investors can bid for a minimum of 1600 shares and in multiples thereof. Here are the investment details:

    ApplicationLotsSharesAmount (₹)
    Retail (Min)116001,44,000
    Retail (Max)116001,44,000
    HNI (Min)23,2002,88,000

    Company Valuation

    Assessing the company's valuation is vital for determining the potential return on investment.

    • Market Capitalization: Rs 39.87 Cr
    • Earnings Per Share (EPS) Pre-IPO: Rs 4.67
    • Earnings Per Share (EPS) Post-IPO: Rs 4.62
    • P/E Ratio Pre-IPO: 19.27
    • P/E Ratio Post-IPO: 19.49

    Company Financials

    A review of the company's financial performance provides insights into its stability and growth potential.

    Period Ended31 Dec 2024 (₹ Crore)31 Mar 2024 (₹ Crore)31 Mar 2023 (₹ Crore)31 Mar 2022 (₹ Crore)
    Assets15.9411.736.524.63
    Revenue52.8347.8826.0113.48
    Profit After Tax1.531.450.270.18
    Net Worth5.343.811.100.83
    Total Borrowing1.680.120.22--

    Promoter Holding

    The promoters of the company are Pankaj Jain and Ronak Mistry. Here's the shareholding pattern:

    • Share Holding Pre Issue: 100.00%
    • Share Holding Post Issue: 70.20%

    IPO Issue Objective

    The company intends to utilize the net proceeds from the issue for the following objectives:

    1. Funding Working Capital Requirement
    2. General Corporate Purpose

    Company Contact Details

    For any further information, you can reach out to the company at:

    • Company: NAPS Global India Limited
    • Address: Office No. 11, 2nd Floor, 436 Shree Nath Bhuvan, Kalbadevi Road, Mumbai City, Mumbai,-400002
    • Phone: 022-49794323
    • Email: napsglobalindia@gmail.com
    • Website: https://napsglobalindia.com/

    IPO Registrar Details

    For queries related to the IPO process, you can contact the registrar:

    Conclusion

    The NAPS Global India IPO presents an opportunity to invest in a company with a presence in the textile import and garment manufacturing sector. By understanding the company's profile, IPO details, financial performance, and objectives, investors can make a well-informed decision. As always, it's crucial to conduct thorough research and consider your investment goals before participating in any IPO.

  • Shreenath Paper Products Limited IPO

    Shreenath Paper IPO: A Comprehensive Analysis

    Shreenath Paper IPO: A Comprehensive Analysis

    Shreenath Paper IPO Logo

    Investing in the stock market can be exciting, and Initial Public Offerings (IPOs) offer a chance to get in on the ground floor of potentially successful companies. The Shreenath Paper IPO was one such opportunity, opening a window for investors to participate in the growth of a company specializing in supply chain solutions for the paper industry. Let's dive into the details of the Shreenath Paper IPO, analyzing its strengths, weaknesses, and overall investment potential.

    About Shreenath Paper Products Limited

    Shreenath Paper Products Limited, established in 2011, provides supply chain solutions to industries that rely on various paper materials. They offer a wide range of papers, including coated, food-grade, machine-glazed, and adhesive papers, catering to sectors like FMCG, textiles, pharmaceuticals, and packaging.

    IPO Details

    Here's a quick overview of the Shreenath Paper IPO:

    • IPO Date: February 25, 2025 to February 28, 2025
    • Listing Date: March 5, 2025
    • Face Value: ₹10 per share
    • Issue Price: ₹44 per share
    • Lot Size: 3,000 Shares
    • Total Issue Size: 53,10,000 shares (aggregating up to ₹23.36 Cr)
    • Issue Type: Fixed Price Issue IPO
    • Listing At: BSE SME

    Progress: Calculating...

    Subscription Details

    The IPO allocated shares to different investor categories as follows:

    • NII (Non-Institutional Investors): 47.34%
    • RII (Retail Individual Investors): 47.34%
    • Market Maker: 5.31%

    Lot Size and Investment

    Investing in the Shreenath Paper IPO required a minimum investment. Here’s a breakdown:

    Investor CategoryLotsSharesAmount
    Retail (Min/Max)13,000₹1,32,000
    HNI (Min)26,000₹2,64,000

    Company Financials (Restated)

    Understanding a company's financials is crucial before investing. Here's a summary of Shreenath Paper Products Limited's financial performance:

    Period Ended31 Dec 202431 Mar 202431 Mar 202331 Mar 2022
    Assets (₹ Crore)62.2560.3450.9530.82
    Revenue (₹ Crore)78.62189.67206.7141.75
    Profit After Tax (₹ Crore)2.414.394.381.34
    Net Worth (₹ Crore)21.3418.9310.545.65
    Total Borrowing (₹ Crore)31.3728.8925.0116.73

    Key Performance Indicators (KPI)

    Here are some key performance indicators as of March 31, 2024:

    KPIValue
    ROE23.19%
    ROCE19.32%
    PAT Margin2.36%
    Price to Book Value3.33

    Promoter Holding

    The promoters of the company include Alok Parekh, Ronak Parekh, and others. Here's the shareholding structure:

    • Share Holding Pre Issue: 100.00%
    • Share Holding Post Issue: 72.98%

    Objects of the Issue

    The company intended to use the IPO proceeds for:

    1. Meeting incremental working capital requirements
    2. General corporate purposes

    Company Contact Details

    Shreenath Paper Products Limited
    Shop no. 5, Plot no.136, N-1,
    Masco Corner API Road,
    Cidco, Aurangabad, 431003
    Phone: +91 0240-2489888
    Email: info@shreenathpaper.com
    Website: https://shreenathpaper.com/

    IPO Registrar

    Bigshare Services Pvt Ltd
    Phone: +91-22-6263 8200
    Email: ipo@bigshareonline.com
    Website: https://ipo.bigshareonline.com/IPO_Status.html

    Conclusion

    The Shreenath Paper IPO presented an opportunity to invest in a company providing essential supply chain solutions to the paper industry. Analyzing the company's financials, objectives, and other key details is crucial for making informed investment decisions. Remember to consult with a financial advisor before making any investment.

    Disclaimer: This blog post is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.

  • Nukleus Office Solutions Limited IPO

    Nukleus Office Solutions IPO: A Comprehensive Analysis

    Nukleus Office Solutions IPO: A Comprehensive Analysis for Investors

    Nukleus Office Solutions Logo

    Are you considering investing in the Nukleus Office Solutions IPO? This detailed guide provides an in-depth analysis to help you make an informed decision. We'll cover everything from the company's business model and financials to the IPO details and expert reviews.

    What Does Nukleus Office Solutions Do?

    Nukleus Office Solutions Limited, incorporated in December 2019, offers co-working and managed office spaces in Delhi NCR. They provide furnished and flexible workspaces including dedicated desks, private cabins, meeting rooms, startup zones, and virtual offices. Their solutions cater to startups, SMEs, large enterprises, professionals, and entrepreneurs, offering fully serviced workspaces for enterprises needing 50-500 seats.

    As of December 31, 2024, the company operated 7 flexible workspaces and 4 Managed Offices in Delhi NCR, providing 2,796 total seats with 88.48% occupancy.

    Key Strengths of Nukleus Office Solutions

    • Efficient Management: Proven track record in managing co-working and office spaces.

    • Customizable Workspace: Flexible membership options to suit various needs.

    • Hybrid Model: Catering to diverse demands.

    • Infrastructural Development: Integration of new technology in centers.

    • Experienced Team: Led by experienced promoters and an efficient management team.

    Nukleus Office Solutions IPO Details

    Here's a quick overview of the IPO:

    • IPO Date: February 24, 2025 to February 27, 2025

    • Listing Date: March 4, 2025

    • Face Value: ₹10 per share

    • Issue Price: ₹234 per share

    • Lot Size: 600 Shares

    • Total Issue Size: 13,54,800 shares (aggregating up to ₹31.70 Cr)

    • Fresh Issue: 13,54,800 shares (aggregating up to ₹31.70 Cr)

    • Issue Type: Fixed Price Issue IPO

    • Listing At: BSE SME

    IPO Timeline (Tentative Schedule)

    Stay informed with these key dates:

    EventDate
    IPO Open DateMon, Feb 24, 2025
    IPO Close DateThu, Feb 27, 2025
    Tentative AllotmentFri, Feb 28, 2025
    Initiation of RefundsMon, Mar 3, 2025
    Credit of Shares to DematMon, Mar 3, 2025
    Tentative Listing DateTue, Mar 4, 2025

    IPO Progress

    Open
    Feb 24, 2025
    Close
    Feb 27, 2025
    Allotment
    Feb 28, 2025
    Listing
    Mar 4, 2025

    Lot Size and Investment Details

    Understand the investment required:

    Investor TypeLotsSharesAmount
    Retail (Min)1600₹1,40,400
    Retail (Max)1600₹1,40,400
    HNI (Min)21,200₹2,80,800

    Use the Lot Size Calculator for more details.

    Nukleus Office Solutions IPO Reservation

    Here's the breakdown of shares offered:

    Investor CategoryShares OfferedPercentage
    Market Maker53,4005.01%
    NII5,05,80047.49%
    Retail5,05,80047.49%
    Total10,65,000100%

    Company Financials (₹ Crore)

    Review the company's financial performance:

    Period Ended31 Dec 202431 Mar 202431 Mar 202331 Mar 2022
    Assets29.3719.367.363.27
    Revenue21.3617.1610.93.42
    Profit After Tax1.511.20.670.11

    Key Performance Indicators (KPI)

    Here are some important KPIs to consider:

    KPIValue (as of Mar 31, 2024)
    ROE46.09%
    ROCE14.39%
    Debt/Equity1.96
    RoNW46.09%
    PAT Margin6.99%
    Price to Book Value11.87

    Pre and Post IPO EPS & P/E

    Pre IPOPost IPO
    EPS (Rs)4.475.00
    P/E (x)52.3346.82

    Note:

    • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.

    • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2024 that is available in RHP.

    Objects of the Issue (IPO Objectives)

    The company plans to use the net proceeds for:

    1. Capital expenditure and security deposit for new centers.

    2. Building up technology platform and integrating all centers.

    3. Advertisement expenses for enhancing brand visibility.

    4. General corporate purposes.

    Promoter Holding

    Details about the promoters:

    • Promoters: Nipun Gupta and Puja Gupta

    • Share Holding Pre Issue: 99.98%

    • Share Holding Post Issue: (To be updated based on dilution)

    Nukleus Office Solutions IPO - Registrar

    Bigshare Services Pvt Ltd

    Nukleus Office Solutions IPO - Contact Details

    • Address: 1102, Barakhamba Tower 22 Barakhamba Road, Connaught Place New Delhi - 110001

    • Phone: +91 9667049487

    • Email: cs@nukleus.work

    • Website: https://www.nukleus.work/

    Conclusion

    The Nukleus Office Solutions IPO offers an opportunity to invest in the growing co-working space industry in India. While the company has shown promising financial growth and has several competitive strengths, investors should carefully consider the risks associated with a relatively small SME IPO. Evaluate the company's financials, IPO objectives, and expert reviews to make an informed decision.

  • Balaji Phosphates Limited IPO

    Balaji Phosphates IPO: In-Depth Analysis & Review

    Balaji Phosphates IPO: A Comprehensive Guide

    The Initial Public Offering (IPO) of Balaji Phosphates Limited opened on February 28, 2025, and closed on March 4, 2025. This blog post provides a detailed analysis of the IPO, including company information, IPO details, financial performance, and a review to help investors make informed decisions.

    What Does Balaji Phosphates Do?

    Balaji Phosphates Limited, established in 1996, is involved in the manufacturing and supply of various fertilizers, including Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate. These products are marketed under the brands ‘RATNAM’ and ‘BPPL’ and are compliant with India's Fertilizer Control Order standards.

    Balaji Phosphates Products

    Key IPO Details

    Here's a quick overview of the Balaji Phosphates IPO:

    • IPO Date: February 28, 2025 to March 4, 2025
    • Listing Date: March 7, 2025
    • Face Value: ₹10 per share
    • Issue Price: ₹70 per share
    • Lot Size: 2,000 Shares
    • Total Issue Size: 71,58,000 shares (₹50.11 Cr)
    • Listing At: NSE SME

    IPO Timeline: February 28, 2025 (Open) - March 7, 2025 (Listing)

    Detailed IPO Information

    A more detailed breakdown of the IPO is presented below:

    ParticularDetails
    IPO DateFebruary 28, 2025 to March 4, 2025
    Listing DateMarch 7, 2025
    Face Value₹10 per share
    Issue Price₹70 per share
    Lot Size2,000 Shares
    Total Issue Size71,58,000 shares (aggregating up to ₹50.11 Cr)
    Fresh Issue59,40,000 shares (aggregating up to ₹41.58 Cr)
    Offer for Sale12,18,000 shares of ₹10 (aggregating up to ₹8.53 Cr)
    Issue TypeBook Built Issue IPO
    Listing AtNSE SME
    Share Holding Pre Issue1,78,37,100 shares
    Share Holding Post Issue2,37,77,100 shares
    Market Maker Portion3,58,000 shares (Nnm Securities Private Limited)

    IPO Subscription Details

    The IPO allocated shares to different investor categories. Here’s the breakdown:

    Investor CategoryShares OfferedPercentage Allocation
    Anchor Investor5,72,0007.99%
    Market Maker3,58,0005%
    QIB (Qualified Institutional Buyers)14,68,00020.51%
    NII (HNI)20,40,00028.5%
    Retail27,20,00038%
    Total71,58,000100%

    Anchor Investors

    Balaji Phosphates IPO raised Rs 4.00 crore from anchor investors.

    • Anchor Bid Date: February 27, 2025
    • Shares Offered: 5,72,000
    • Anchor Portion Size: Rs 4.00 crore
    • Anchor Lock-in (50% Shares): April 4, 2025
    • Anchor Lock-in (Remaining Shares): June 3, 2025

    For a detailed list of anchor investors, refer to the Balaji Phosphates IPO Anchor Investors list.

    IPO Timeline

    Stay updated with the key dates of the IPO process:

    • IPO Open Date: February 28, 2025
    • IPO Close Date: March 4, 2025
    • Tentative Allotment: March 5, 2025
    • Initiation of Refunds: March 6, 2025
    • Credit of Shares to Demat: March 6, 2025
    • Tentative Listing Date: March 7, 2025

    Lot Size Details

    Investors can bid for a minimum of 2000 shares and in multiples thereof. Here’s the investment details:

    ApplicationLotsSharesAmount
    Retail (Min)12000₹1,40,000
    Retail (Max)12000₹1,40,000
    HNI (Min)24,000₹2,80,000

    Promoter Holding

    The promoters of the company are Mr. Alok Gupta and Mr. Mohit Airen.

    • Share Holding Pre Issue: 100%
    • Share Holding Post Issue: 69.90%

    Company Financials

    Here’s an overview of Balaji Phosphates Limited’s financial performance:

    Period Ended31 Aug 202431 Mar 202431 Mar 202331 Mar 2022
    Assets95.2888.4896.8382.35
    Revenue54.85151.68144.64124.12
    Profit After Tax4.156.046.093.19
    Net Worth39.153528.9722.86
    Total Borrowing35.5833.2226.3219.88

    Amount in ₹ Crore

    Key Performance Indicators (KPI)

    The market capitalization of Balaji Phosphates IPO is Rs 166.44 Cr.

    KPIValue
    ROE18.89%
    ROCE16.7%
    Debt/Equity0.95
    RoNW17.26%
    PAT Margin4.00
    Price to Book Value3.57
    EPS (Rs) - Pre IPO3.39
    P/E (x) - Pre IPO20.67
    EPS (Rs) - Post IPO4.19
    P/E (x) - Post IPO16.72

    Objects of the Issue

    The company plans to use the net proceeds for:

    • Meeting capital expenditure requirements.
    • Meeting working capital requirements.
    • General corporate purposes.

    IPO Review

    "BPL is engaged in the manufacturing and supplying of SSP and related fertilizer products. The company marked growth in its top lines for the reported periods. The boosted bottom lines from FY23 onwards raises eyebrows and concern over its sustainability. It is operating in a highly competitive and fragmented segment. Based on its recent financial performance, the issue appears aggressively priced. Well-informed investors may park moderate funds for medium to long term."

    Company Contact Details

    • Address: 305, Utsav Avenue, 12/5 Usha Ganj Jaora Compound, Indore G.P.O., Indore- 452001
    • Phone: +919827090267
    • Email: balajiphosphate@gmail.com
    • Website: https://www.balajiphosphates.com/2

    IPO Registrar

    Conclusion

    The Balaji Phosphates IPO presents an opportunity to invest in a company with a long-standing presence in the fertilizer industry. However, investors should carefully consider the company's financials, competitive landscape, and IPO valuation before making a decision.

    Disclaimer: This blog post is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.

  • Beezaasan Explotech Limited IPO

    Beezaasan Explotech IPO: A Comprehensive Analysis

    Beezaasan Explotech IPO: A Comprehensive Analysis

    Beezaasan Explotech Limited recently launched its IPO, offering investors a chance to participate in the growth of a company specializing in explosives and explosive accessories. This blog post provides a detailed overview of the IPO, covering essential aspects such as the company's operations, IPO details, financial performance, and investment considerations.

    Understanding Beezaasan Explotech Limited

    Beezaasan Explotech Limited, incorporated in August 2013, manufactures and supplies a comprehensive range of explosives and explosive accessories. The company primarily produces cartridge explosives, including slurry, emulsion, and detonating explosives, catering to industries such as cement, mining, and defense.

    • Core Business: Manufacturing of explosives and explosive accessories.
    • Product Range: Slurry explosives, emulsion explosives, and detonating explosives.
    • Industry Focus: Cement, mining, and defense industries.
    • Manufacturing Facility: Located in Gujarat, with ISO certifications for quality, environment, and safety management.
    • Market Presence: PAN India presence, serving 11 states and 2 Union territories.
    Beezaasan Explotech IPO Logo

    IPO Details

    The Beezaasan Explotech IPO was a book-built issue aimed at raising Rs 59.93 crores through a fresh issue of 34.25 lakh shares.

    • IPO Size: Rs 59.93 crores
    • Issue Type: Fresh issue of 34.25 lakh shares
    • IPO Dates: February 21, 2025 to February 25, 2025
    • Allotment Finalization: February 27, 2025
    • Listing Date: March 3, 2025
    • Listing Exchange: BSE SME
    • Price Band: ₹175 per share
    • Lot Size: 800 shares
    • Minimum Investment (Retail): ₹1,40,000 (at cut-off price)
    • Lead Manager: Smart Horizon Capital Advisors Private Limited
    • Registrar: Kfin Technologies Limited
    • Market Maker: Rikhav Securities Limited

    IPO Timeline

    Here's the tentative schedule for the Beezaasan Explotech IPO:

    EventDate
    IPO Open DateFri, Feb 21, 2025
    IPO Close DateTue, Feb 25, 2025
    Tentative AllotmentThu, Feb 27, 2025
    Initiation of RefundsFri, Feb 28, 2025
    Credit of Shares to DematFri, Feb 28, 2025
    Tentative Listing DateMon, Mar 3, 2025
    Cut-off time for UPI mandate confirmation5 PM on February 25, 2025

    IPO Progress Tracker

    Listing Date Approaching...

    Subscription Details

    The IPO offered shares to various investor categories, including QIB, NII, Retail, and Anchor investors.

    Investor CategoryShares OfferedPercentage Allocation
    Anchor Investor9,68,00028.26%
    Market Maker1,76,0005.14%
    QIB6,53,60019.08%
    NII (HNI)4,88,80014.27%
    Retail11,38,40033.24%
    Total34,24,800100%

    Anchor Investors

    Beezaasan Explotech IPO raised Rs 16.94 crore from anchor investors on February 20, 2025.

    DetailValue
    Bid DateFebruary 20, 2025
    Shares Offered9,68,000
    Anchor Portion SizeRs 16.94 crore
    Anchor lock-in period end date for 50% shares (30 Days)March 28, 2025
    Anchor lock-in period end date for remaining shares (90 Days)May 27, 2025

    Lot Size Details

    Investors could bid for a minimum of 800 shares and in multiples thereof.

    CategoryLotsSharesAmount (₹)
    Retail (Min)18001,40,000
    Retail (Max)18001,40,000
    HNI (Min)21,6002,80,000

    Company Financials

    Here's a summary of Beezaasan Explotech Limited's financial performance:

    Period Ended30 Sep 2024 (₹ Crore)31 Mar 2024 (₹ Crore)31 Mar 2023 (₹ Crore)31 Mar 2022 (₹ Crore)
    Assets82.0968.9961.6342.3
    Revenue101.44187.9229.17141.91
    Profit After Tax8.334.872.942.74
    Net Worth31.1223.214.3410.45
    Reserves and Surplus21.6313.76.953.7
    Total Borrowing39.6636.9443.2923.93

    Key Performance Indicators (KPI)

    The market capitalization of Beezaasan Explotech IPO is Rs 226.12 Cr.

    KPI as of Sun, Mar 31, 2024.

    KPIValues
    ROE25.93%
    ROCE16.20%
    Debt/Equity1.59
    RoNW20.89%
    PAT Margin2.61
    Price to Book Value6.05

    Pre and Post IPO EPS & P/E

    Pre IPOPost IPO
    EPS (Rs)5.1212.89
    P/E (x)34.1513.57

    Note:

    • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
    • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

    Objects of the Issue

    The company intends to use the IPO proceeds for:

    1. Expanding the existing manufacturing unit for Emulsion Explosive-3, Emulsion Bulk Explosive, and Detonating Fuse Plants.
    2. Purchasing plant and machinery for the expansion.
    3. Constructing an additional magazine (storage) facility.
    4. Purchasing commercial vehicles.
    5. Repaying/prepaying company borrowings.
    6. General corporate purposes.

    Promoter Holding

    The company's promoters include Mr. Navneetkumar Radheshyam Somani, Mr. Sunilkumar Radheshyam Somani, and Mr. Rajan Sunilkumar Somani, M/s. Navneet R Somani HUF and M/s. Sunil R Somani HUF.

    ParticularsShare Holding
    Pre Issue96.02%
    Post Issue70.57%

    Note: The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    Company Details

    • Company: Beezaasan Explotech Limited
    • Address: 5th Floor, 511, Pramukh Tangent Complex, Sargasan Cross Road, S.G. Highway, Gandhinagar, -382421
    • Phone: +91 6359607701
    • Email: investors@beezaasan.in
    • Website: www.beezaasan.com

    Registrar Details

    Conclusion

    The Beezaasan Explotech IPO presented an opportunity to invest in a company with a strong presence in the explosives and explosive accessories market. Understanding the company's financials, IPO details, and future objectives is crucial for making an informed investment decision. As the IPO timeline progresses, investors should monitor allotment status and listing performance closely.

  • HP Telecom India Limited IPO

    HP Telecom India IPO: A Comprehensive Guide

    HP Telecom India IPO: A Comprehensive Guide for Investors

    The world of Initial Public Offerings (IPOs) can be both exciting and overwhelming. If you’re considering investing in the HP Telecom India IPO, this comprehensive guide is designed to provide you with all the necessary information to make an informed decision. We’ll delve into the company’s background, IPO details, financial performance, and much more.

    Understanding HP Telecom India Limited

    Founded in March 2011, HP Telecom India Limited has evolved from a distributor of mobile phones and accessories to an exclusive distributor of Apple products in key regions of India. The company focuses on providing Apple devices, including iPhones, iPads, Macs, and Apple Watches, to tech-savvy consumers.

    HP Telecom India IPO Logo

    Key Strengths of HP Telecom India

    • Exclusive Distribution Rights: Secure agreements with leading brands like Apple.
    • Strong Brand Reputation: Well-regarded within its operating regions.
    • Experienced Leadership: Guided by a visionary management team.
    • Robust Network: Strong relationships with suppliers.
    • Financial Stability: Demonstrates a solid financial foundation.

    HP Telecom India IPO Details

    Let’s dive into the specifics of the IPO. Understanding these details is crucial for any potential investor.

    CategoryDetails
    IPO DateFebruary 20, 2025 to February 24, 2025
    Listing DateFebruary 28, 2025
    Face Value₹10 per share
    Issue Price₹108 per share
    Lot Size1,200 Shares
    Total Issue Size31,69,200 shares (aggregating up to ₹34.23 Cr)
    Fresh Issue31,69,200 shares (aggregating up to ₹34.23 Cr)
    Issue TypeFixed Price Issue IPO
    Listing AtNSE SME
    Share Holding Pre Issue87,45,510 shares
    Share Holding Post Issue1,19,14,710 shares
    Market Maker Portion1,59,600shares (Aftertrade Broking Pvt Ltd)

    IPO Timeline

    Here’s a visual representation of the IPO timeline:

    IPO Reservation Details

    The allocation of shares across different investor categories is as follows:

    Investor CategoryShares OfferedPercentage
    NII (Non-Institutional Investors)15,04,80047.48%
    RII (Retail Individual Investors)15,04,80047.48%
    Market Maker1,59,6005.04%
    Total31,69,201100%

    HP Telecom India IPO – Tentative Schedule

    EventDate
    IPO Open DateThu, Feb 20, 2025
    IPO Close DateMon, Feb 24, 2025
    Tentative AllotmentTue, Feb 25, 2025
    Initiation of RefundsThu, Feb 27, 2025
    Credit of Shares to DematThu, Feb 27, 2025
    Tentative Listing DateFri, Feb 28, 2025

    Understanding the Lot Size

    Investors must bid for a minimum of 1200 shares and in multiples thereof. Here’s a breakdown:

    Investor TypeLotsSharesAmount (₹)
    Retail (Min)112001,29,600
    Retail (Max)112001,29,600
    HNI (Min)22,4002,59,200

    You can calculate your potential investment using a Lot Size Calculator.

    Promoter Holding

    Insight into the promoter’s stake in the company.

    ParticularsPercentage
    Share Holding Pre Issue99.99%
    Share Holding Post Issue73.40%

    Objectives of the IPO

    The company intends to utilize the net proceeds from the issue for the following purposes:

    • Funding the working capital requirements of the company.
    • General corporate purposes.

    Financial Performance

    Analyzing the company’s financial health is vital for making an informed investment decision.

    Period Ended30 Sep 2024 (₹ Crore)31 Mar 2024 (₹ Crore)31 Mar 2023 (₹ Crore)31 Mar 2022 (₹ Crore)
    Assets258.97281.4893.5546.06
    Revenue594.191,079.77638.47292.55
    Profit After Tax5.248.666.352.13
    Net Worth34.3529.1120.5115.46
    Total Borrowing105.14100.1559.2924.5

    Key Performance Indicators (KPI)

    Key metrics to evaluate the company’s performance:

    KPIValue (as of March 31, 2024)
    ROE (Return on Equity)29.56%
    ROCE (Return on Capital Employed)66.62%
    RoNW (Return on Net Worth)29.56%
    PAT Margin (Profit After Tax Margin)0.81%
    Price to Book Value3.24
    Pre IPO EPS (Rs)9.84
    P/E (x)10.98
    Post IPO EPS (Rs)8.79
    P/E (x)12.28

    Contact Information

    For further inquiries, you can reach HP Telecom India Limited through the following details:

    • Address: Plot No – 97, 01st Floor, Om Square, Near Ishwar Farm, BRTS Canal Road, Bhatar, Althan-395017
    • Phone: +91 9825309977
    • Email: compliancehptl@gmail.com
    • Website: https://www.hvciipl.com/

    Registrar Information

    Bigshare Services Pvt Ltd is the registrar for the HP Telecom India IPO:

    How to Apply for the IPO through Zerodha

    Zerodha customers can easily apply for the HP Telecom India IPO online using UPI. Here’s a step-by-step guide:

    1. Visit the Zerodha website and log in to Console.
    2. Go to Portfolio and click the IPOs link.
    3. Go to the ‘HP Telecom India IPO’ row and click the ‘Bid’ button.
    4. Enter your UPI ID, Quantity, and Price.
    5. Submit the IPO application form.
    6. Approve the mandate via your UPI app (net banking or BHIM).

    Final Thoughts

    Investing in an IPO requires careful consideration. By understanding HP Telecom India’s business, financial standing, and the specifics of this IPO, you can make a well-informed decision that aligns with your investment goals. Remember to conduct your own due diligence and consult with a financial advisor before investing.

    Disclaimer: This blog post is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions. Investment in IPOs is subject to market risks.

  • Swasth Foodtech India Limited IPO

    Swasth Foodtech IPO: A Comprehensive Analysis

    Swasth Foodtech IPO: A Comprehensive Analysis

    The Initial Public Offering (IPO) market continues to buzz with activity, offering investors opportunities to participate in the growth stories of various companies. One such IPO that has garnered attention is the Swasth Foodtech IPO. This blog post delves into a detailed analysis of the Swasth Foodtech IPO, covering key aspects to help potential investors make informed decisions.

    What Does Swasth Foodtech India Limited Do?

    Swasth Foodtech India Limited, incorporated in 2021, is engaged in processing rice bran oil for sale to oil manufacturers and packers. The company produces various grades of rice bran oil, rich in Vitamin E and Oryzanol. They also produce by-products like fatty acids, gums, spent earth, and wax, generated while processing its products in the open market.

    Swasth Foodtech IPO Details

    Here’s a snapshot of the key details of the Swasth Foodtech IPO:

    • IPO Date: February 20, 2025 to February 24, 2025
    • Listing Date: February 28, 2025
    • Face Value: ₹10 per share
    • Issue Price: ₹94 per share
    • Lot Size: 1,200 Shares
    • Total Issue Size: 15,87,600 shares (aggregating up to ₹14.92 Cr)
    • Fresh Issue: 15,87,600 shares (aggregating up to ₹14.92 Cr)
    • Issue Type: Fixed Price Issue IPO
    • Listing At: BSE SME
    IPO Progress: February 20, 2025 (Open) - February 28, 2025 (Listing)

    IPO Subscription Details

    Swasth Foodtech IPO offers shares with reservations for different investor categories:

    Investor CategoryShares OfferedPercentage
    Market Maker80,4005.06%
    Other (NII)7,53,60047.47%
    Retail (RII)7,53,60047.47%
    Total15,87,600100%

    Swasth Foodtech IPO Timeline (Tentative Schedule)

    Keep track of the key dates for the IPO process:

    EventDate
    IPO Open DateThu, Feb 20, 2025
    IPO Close DateMon, Feb 24, 2025
    Tentative AllotmentTue, Feb 25, 2025
    Initiation of RefundsThu, Feb 27, 2025
    Credit of Shares to DematThu, Feb 27, 2025
    Tentative Listing DateFri, Feb 28, 2025
    Cut-off time for UPI mandate confirmation5 PM on February 24, 2025

    Swasth Foodtech IPO Lot Size

    Investors can bid for a minimum of 1200 shares and in multiples thereof.

    ApplicationLotsSharesAmount
    Retail (Min)11200₹1,12,800
    Retail (Max)11200₹1,12,800
    HNI (Min)22,400₹2,25,600

    Swasth Foodtech IPO Promoter Holding

    The promoters of the company are Dilip Chhajer, Shrey Jain, Lakshay Jain, Vandana Chhajer, Chhajer Agro Products Private Limited and Dilip Chand chhajer (HUF).

    ParticularsPercentage
    Share Holding Pre Issue100.00%
    Share Holding Post Issue72.90%

    Objects of the Issue (Swasth Foodtech IPO Objectives)

    The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:

    • Setting up of a packing line at the existing manufacturing unit
    • Funding of working capital requirements of the Company
    • General Corporate Purposes

    Company Financials

    Here's a look at the company's financials:

    Period Ended30 Sep 2024 (₹ Crore)31 Mar 2024 (₹ Crore)31 Mar 2023 (₹ Crore)31 Mar 2022 (₹ Crore)
    Assets36.9131.8430.5912.65
    Revenue88.63134.3299.941.23
    Profit After Tax1.831.930.030.01
    Net Worth8.076.243.033

    Company Contact Details

    Swasth Foodtech India Limited
    Baro Chowmata Belari,
    Guskara, Purba Burdwan,
    Bardhaman – 713 141
    Phone: +91 890 073 8769
    Email: info@swasthfoodtech.com
    Website: https://www.swasthfoodtech.com/

    IPO Registrar

    Mas Services Limited
    Phone: (011) 2610 4142
    Email: ipo@masserv.com
    Website: https://www.masserv.com/opt.asp

    Conclusion

    The Swasth Foodtech IPO presents an opportunity to invest in a company engaged in the processing of rice bran oil and related by-products. Potential investors should carefully consider the company's financials, objectives, and risk factors outlined in the prospectus before making an investment decision.