Blue Bird (India) IPO
Blue Bird (India) IPO — date, price band, lot size & details 2006
Blue Bird (India) listed on 11 Dec 2006 at ₹128, 21.9% above the ₹105 issue price.
Blue Bird (India) is a Pune based maker of paper notebooks and student exercise books under the Blue Bird brand, which also does commercial printing. Its total income was Rs 401.70 crore in FY2006.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 16 Nov 2006
- Close 22 Nov 2006
- Allotment 05 Dec 2006
- Refund/credit TBA
- Listing 11 Dec 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 22 Nov, 2006 |
|---|---|
| Price Band | ₹90 – ₹105 |
| Face Value | ₹10 |
| Lot Size | 60 Shares |
| Issue Size | ₹92.14 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,300 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 60 shares at the ₹105 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 60 | ₹6,300 |
| Retail (max) | 31 | 1,860 | ₹1,95,300 |
| S-HNI (min) | 32 | 1,920 | ₹2,01,600 |
| S-HNI (max) | 158 | 9,480 | ₹9,95,400 |
| B-HNI (min) | 159 | 9,540 | ₹10,01,700 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had a 48% share of the large-player segment of the notebook market as of 31 May 2006.
- 02Total income rose from Rs 331.70 crore in FY2005 to Rs 401.70 crore in FY2006.
- 03Profit after tax rose from Rs 15.99 crore in FY2005 to Rs 25.12 crore in FY2006.
- 04It sold through about 600 wholesalers or dealers and about 9,000 retailers.
Risks · 5
- 01Paper is its main raw material, and paper prices can swing; profit was Rs 25.12 crore on income of Rs 401.70 crore in FY2006.
- 02Its factory land was bought from its promoter director, Nitin P. Sontakke, and Rs 4.00 crore of the issue was to buy its leased office.
- 03About 80% of the stationery market was unorganised, with low priced local rivals.
- 04Debt to equity was 1.43, and Rs 19.24 crore of the issue was for repaying long term debt.
- 05Promoter group holding fell from 70.17% before the issue to 52.57% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Blue Bird (India) offer document.
| Metric | 30 Sep 2006 | 31 Mar 2006 | 31 Mar 2005 |
|---|---|---|---|
| Assets | 262.62 | 231.47 | 176.78 |
| Total Income | 237.55 | 401.70 | 331.70 |
| Profit After Tax | 15.10 | 25.12 | 15.99 |
| EBITDA | 31.50 | 52.95 | 34.89 |
| NET Worth | 75.22 | 61.22 | 39.56 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Blue Bird (India) RHP.
Where the money goes
₹145.01 Cr of the issue is earmarked to named objects.
About the company
Under its Blue Bird brand it was the leading maker of paper based notebooks and exercise books, strong in western and southern India. It also did commercial printing for entertainment companies, financial institutions, publishers and education authorities.
As per an AC Nielsen ORG-MARG report cited in the prospectus, about 80% of the Indian stationery market was unorganised, and Blue Bird had a 48% share of the part held by large players as of 31 May 2006. Its customers included about 600 wholesalers or dealers and about 9,000 retailers.
The IPO was Rs 92.14 crore and was entirely a fresh issue at Rs 105, the top of the Rs 90 to Rs 105 band. The money was for new and expanded factories, sales offices, repaying debt and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Blue Bird (India) IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Karvy Investor Services Ltd
31 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: Astral Poly Technik (-10.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Blue Bird (India)?
The current Grey Market Premium is ₹0.
What is the Blue Bird (India) IPO price band?
₹90 to ₹105, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 December 2006, with listing on 11 December 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
