Kernex Microsystems (India) IPO
Kernex Microsystems (India) IPO — date, price band, lot size & details 2005
Kernex Microsystems (India) listed on 20 Dec 2005 at ₹350, 40% above the ₹250 issue price.
Kernex Microsystems (India) is a Hyderabad based company that develops and makes railway safety systems such as anti collision devices, under an exclusive agreement with Konkan Railway. Its total income was Rs 53.28 crore in FY2005.
Stock price
Kernex Microsystems (India) 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 12 November.
- Open 28 Nov 2005
- Close 03 Dec 2005
- Allotment TBA
- Refund/credit TBA
- Listing 20 Dec 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 Nov to 3 Dec, 2005 |
|---|---|
| Price Band | ₹225 – ₹250 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹99.01 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,250 |
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 25 shares at the ₹250 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹6,250 |
| Retail (max) | 32 | 800 | ₹2,00,000 |
| S-HNI (min) | 33 | 825 | ₹2,06,250 |
| S-HNI (max) | 160 | 4,000 | ₹10,00,000 |
| B-HNI (min) | 161 | 4,025 | ₹10,06,250 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 18.06 crore in FY2004 to Rs 53.28 crore in FY2005.
- 02Profit after tax rose from Rs 3.09 crore in FY2004 to Rs 8.96 crore in FY2005.
- 03It had an exclusive ACD agreement with Konkan Railway from 2003.
- 04Profit after tax was Rs 6.24 crore in five months to August 2005.
Risks · 5
- 01Its business depended on 1 technology, ACDs, and on adoption by Indian Railways.
- 02It had not placed orders or signed agreements to use the Rs 99.01 crore raised.
- 03The issue was large next to its total assets of Rs 34.64 crore.
- 04Railway orders depend on government budgets; total income was Rs 18.06 crore in FY2004.
- 05Promoter group holding fell from 90.34% before the issue to 58.86% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Kernex Microsystems (India) offer document.
| Metric | 31 Aug 2005 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|
| Assets | 34.64 | 26.43 | 22.10 |
| Total Income | 19.42 | 53.28 | 18.06 |
| Profit After Tax | 6.24 | 8.96 | 3.09 |
| Reserves and Surplus | 17.22 | 10.98 | 3.20 |
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 Kernex Microsystems (India) RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Kernex Microsystems (India) IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹12.10 | ₹13.19 |
| P/E Ratio (x) | 20.67 | 18.96 |
| Market Cap at Offer Price (₹ Cr) | ₹128.93 | ₹118.27 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹250 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹99.02 Cr of the issue is earmarked to named objects.
About the company
It develops, makes, installs and maintains railway safety and signalling systems, including anti collision devices (ACDs).
In 2003 it signed an exclusive agreement with Konkan Railway Corporation (KRCL) to make, install, commission and maintain ACDs on railway installations.
The IPO was Rs 99.01 crore and was entirely a fresh issue at Rs 250, the top of the Rs 225 to Rs 250 band.
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.
Kernex Microsystems (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.
BOB Capital Markets Ltd
13 issues handledBest listing: P N Gadgil Jewellers (+72.9%). Weakest: Kalyan Jewellers India (-15.0%).
Almondz Global Securities Ltd
23 issues handledBest listing: Amar Remedies (+100.0%). Weakest: First Winner Industries (-12.0%).
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 Kernex Microsystems (India)?
The current Grey Market Premium is ₹0.
What is the Kernex Microsystems (India) IPO price band?
₹225 to ₹250, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 20 December 2005.
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.
