Commercial Engineers & Body Builders Company IPO
Commercial Engineers & Body Builders Company IPO — date, price band, lot size & details 2010
Commercial Engineers & Body Builders Company listed on 18 Oct 2010 at ₹119, 6.3% below the ₹127 issue price.
Commercial Engineers & Body Builders makes vehicle bodies for commercial vehicles and locomotive bodies, and refurbishes railway wagons. Its total income was Rs 196.87 crore in FY2010.
Stock price
Commercial Engineers & Body Builders Company is listed — here is the live share price.
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 15 November.
- Open 30 Sep 2010
- Close 05 Oct 2010
- Allotment 13 Oct 2010
- Refund/credit TBA
- Listing 18 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 30 Sep to 5 Oct, 2010 |
|---|---|
| Price Band | ₹125 – ₹127 |
| Face Value | ₹10 |
| Lot Size | 55 Shares |
| Issue Size | ₹172.41 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,985 |
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 55 shares at the ₹127 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 55 | ₹6,985 |
| Retail (max) | 28 | 1,540 | ₹1,95,580 |
| S-HNI (min) | 29 | 1,595 | ₹2,02,565 |
| S-HNI (max) | 143 | 7,865 | ₹9,98,855 |
| B-HNI (min) | 144 | 7,920 | ₹10,05,840 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 126.15 crore in FY2009 to Rs 196.87 crore in FY2010.
- 02Profit after tax rose from Rs 1.74 crore in FY2009 to Rs 19.20 crore in FY2010.
- 03Its promoter has over 30 years of experience in vehicle body building.
- 04Rs 80.31 crore of the issue was for capital spending on its railway project.
Risks · 5
- 01Profit after tax was volatile: Rs 6.14 crore in FY2008, Rs 1.74 crore in FY2009 and Rs 19.20 crore in FY2010.
- 02Total borrowing rose from Rs 7.18 crore in FY2009 to Rs 54.77 crore in FY2010.
- 03Demand for vehicle bodies follows the commercial vehicle cycle, which swings sharply; income was flat at Rs 126.45 crore in FY2008.
- 04Railway work depends on government orders, and the railway project costing Rs 80.31 crore carries execution risk.
- 05Promoter holding fell from 67.19% before the issue to 52.45% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Commercial Engineers & Body Builders Company offer document.
| Metric | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Total Income | 196.87 | 126.15 | 126.45 |
| Profit After Tax | 19.20 | 1.74 | 6.14 |
| NET Worth | 71.17 | 51.97 | 50.23 |
| Reserves and Surplus | 28.28 | 45.85 | 44.10 |
| Total Borrowing | 54.77 | 7.18 | 30.40 |
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 Commercial Engineers & Body Builders Company RHP.
Where the money goes
₹141.84 Cr of the issue is earmarked to named objects.
Commercial Engineers & Body Builders Company IPO Anchor Investors
9 anchor investors across 2 fund houses committed ₹31.03 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Jf Eastern Smaller Companies Fund | - | 868,843 | 11.03 | 35.56% |
| Legg Mason Se Asia Special Situations Trust | - | 492,126 | 6.25 | 20.14% |
| Kotak Indo - World Infrastructure Fund | Kotak Mahindra Mutual Fund | 245,826 | 3.12 | 10.06% |
| Monsoon India Inflection Fund Ltd. | - | 236,221 | 3.00 | 9.67% |
| Kotak Tax Saver Scheme | Kotak Mahindra Mutual Fund | 197,000 | 2.50 | 8.06% |
| Government Of Singapore Investment Corporation A/C - Gos | - | 137,796 | 1.75 | 5.64% |
| Phiem Asset Management Sdn Bhd - Epf | - | 137,796 | 1.75 | 5.64% |
| Atlantis International Umbrella Fund - Atlantis Asian Recovery Fund | - | 78,741 | 1.00 | 3.22% |
| Kotak Emerging Equity Scheme | Kotak Mahindra Mutual Fund | 49,300 | 0.63 | 2.02% |
| Total anchor allocation | 31.03 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It makes vehicle and locomotive bodies for road and rail transport and is one of the leading designers and makers of vehicle bodies for the commercial vehicle industry in India.
It also refurbishes railway wagons and makes components for railway wagons, coaches and locomotives.
The IPO was Rs 172.41 crore, with Rs 153.00 crore of fresh issue and Rs 19.41 crore of offer for sale, at Rs 127, the top of the Rs 125 to Rs 127 band. The fresh money was for a railway project and for prepaying loans.
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.
Commercial Engineers & Body Builders Company 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.
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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 Commercial Engineers & Body Builders Company?
The current Grey Market Premium is ₹0.
What is the Commercial Engineers & Body Builders Company IPO price band?
₹125 to ₹127, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 October 2010, with listing on 18 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies 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.
