C. Mahendra Exports IPO
C. Mahendra Exports IPO — date, price band, lot size & details 2010
C. Mahendra Exports listed on 20 Jan 2011 at ₹114, 3.6% above the ₹110 issue price.
C. Mahendra Exports is an integrated diamond and diamond jewellery company, from sourcing rough diamonds to polishing and jewellery under its Ciemme brand. Its total income was Rs 1,632.10 crore in FY2010.
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 31 Dec 2010
- Close 06 Jan 2011
- Allotment 13 Jan 2011
- Refund/credit TBA
- Listing 20 Jan 2011
Issue summary
The terms of the offer, as filed.
| IPO Dates | 31 Dec to 6 Jan, 2011 |
|---|---|
| Price Band | ₹95 – ₹110 |
| Face Value | ₹10 |
| Lot Size | 60 Shares |
| Issue Size | ₹165 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,600 |
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 ₹110 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 60 | ₹6,600 |
| Retail (max) | 30 | 1,800 | ₹1,98,000 |
| S-HNI (min) | 31 | 1,860 | ₹2,04,600 |
| S-HNI (max) | 151 | 9,060 | ₹9,96,600 |
| B-HNI (min) | 152 | 9,120 | ₹10,03,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 1,415.59 crore in FY2008 to Rs 1,632.10 crore in FY2010.
- 02It is integrated from rough diamond sourcing to jewellery, with its own Ciemme brand since 2003.
- 03Net worth rose from Rs 181.60 crore in FY2008 to Rs 365.12 crore on 30 June 2010.
- 04Rs 36.06 crore of the issue was for a diamond processing unit at the Surat SEZ.
Risks · 5
- 01Total borrowing was Rs 855.03 crore on 30 June 2010, more than twice its net worth.
- 02Profit after tax fell from Rs 40.26 crore in FY2008 to Rs 22.54 crore in FY2010.
- 03Profit was Rs 22.54 crore on income of Rs 1,632.10 crore in FY2010, so margins are very thin.
- 04Rs 80.00 crore of the issue went into its Belgian subsidiary, which adds overseas and currency risk.
- 05Promoters held 100% before the issue and 75.00% after it.
Three years of numbers
All figures in ₹ crore, as reported in the C. Mahendra Exports offer document.
| Metric | 30 Jun 2010 | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|---|
| Assets | 1,660.00 | 1,685.33 | 1,593.94 | 1,320.38 |
| Total Income | 356.16 | 1,632.10 | 1,420.97 | 1,415.59 |
| Profit After Tax | 14.89 | 22.54 | 21.09 | 40.26 |
| NET Worth | 365.12 | 350.24 | 202.70 | 181.60 |
| Reserves and Surplus | 307.62 | 292.74 | 172.70 | 151.60 |
| Total Borrowing | 855.03 | 842.50 | 997.24 | 845.46 |
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 C. Mahendra Exports RHP.
Where the money goes
₹189.70 Cr of the issue is earmarked to named objects.
About the company
It makes and trades diamonds, precious stones and jewellery. Its business covers sourcing rough diamonds, trading rough and polished diamonds, processing diamonds and making diamond jewellery.
It launched its flagship lifestyle brand Ciemme in 2003, selling rings, earrings, necklace sets and bracelets.
The IPO was Rs 165 crore and was entirely fresh issue at Rs 110, the top of the Rs 95 to Rs 110 band. The money was for a diamond unit at the Surat SEZ, a jewellery unit in Mumbai, retail outlets, branding and investment in its Belgian arm.
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.
C. Mahendra Exports 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.
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: New India Assurance (-6.3%).
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 C. Mahendra Exports?
The current Grey Market Premium is ₹0.
What is the C. Mahendra Exports IPO price band?
₹95 to ₹110, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 January 2011, with listing on 20 January 2011.
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.
