About Capacite Infraprojects
About the company
Founded in 2012, #Capacite Infraprojects is a fast
growing construction company focussed on Residential, Commercial and
Institutional buildings, with growth in consolidated revenue from operations
from Rs. 2,142.59 million for Fiscal 2014 to
Rs. 11,570.40 million for Fiscal 2017, and an Order Book of Rs. 46,024.76
million as at May 31, 2017 comprising 56 ongoing projects. They
provide end-to-end construction services for residential buildings
(“Residential”), multi-level car parks, corporate office buildings and
buildings for commercial purposes (collectively, “Commercial”) and buildings
for educational, hospitality and healthcare purposes (“Institutional”). Their
projects include constructing concrete building structures as well as composite
steel structures. They also provide mechanical, electrical and plumbing (“MEP”)
and finishing works.
Company has a order book of Rs.
4600 crore+. The company has bagged worth over Rs. 1500 crore post
demotisation. Company has a reputation
of bagging repeat orders from existing clientele, latest being order worth more
than Rs. 300 crore from radius developer. The company has 56 ongoing projects.
The company grew 75% on revenue CAGR. The company has about 1700 employees and
18000 labour workforce. The company owns construction equipments required for the all stage of the project, hence it has advantage of timely access and also tax benefits on depreciation. The management believes in using latest, viable and suitable technologies for all its project making it a competitive player.
About Promoters - With significant experience in the construction industry, the management is visionary. Promoters has been hands on in the business and driving the growth story. It has significantly experienced board of directors in the sector, ensuring securing projects from big clients and strengthening its position in the field, gives them an edge over competitors.
About Promoters - With significant experience in the construction industry, the management is visionary. Promoters has been hands on in the business and driving the growth story. It has significantly experienced board of directors in the sector, ensuring securing projects from big clients and strengthening its position in the field, gives them an edge over competitors.
Clientele - Some of our
clients include Kalpataru, Oberoi Constructions Limited, The Wadhwa Group,
Saifee Burhani Upliftment Trust, Lodha Group, Rustomjee, Godrej Properties
Limited, Brigade Enterprises Limited and Prestige Estates Projects Limited.
Key Financials IN CRORES
Financial
Year
|
Fy
17
|
Fy
16
|
Fy
15
|
Fy
14
|
Revenue
|
1165.96
|
860.246
|
562.580
|
216.582
|
PAT
|
69.66
|
48.84
|
32.04
|
4.11
|
Profit
margin
|
5.9%
|
5.6%
|
5.6%
|
1.8%
|
About the IPO
Capacite is issuing fresh issue
of 1.6 crore shares in the IPO. Rs 400 crore to be raised in the issue on
its upper price band. At the price band of 245-250, the stock is
available at 23.9-24.4 times of FY17 earnings.
Price Band – 245-250 Rs.
Price Band – 245-250 Rs.
Lot size – 60
Issue open and closing date – 13th
Sep – 15th Sep 2017
Finalisation of Basis of
Allotment - September 21, 2017
Initiation of refunds - On
or about September 22, 2017
Credit of Equity Shares - On
or about September 22, 2017
Commencement of trading - On
or about September 25, 2017
Bankers to this issue are -
Bankers to this issue are -
| 1. Axis Capital Limited |
| 2. IIFL Holdings Limited |
| 3. Vivro Financial Services Private Limited |
IPO Proceeds to be used in
Funding Working Capital Requirements - 250 Crore
Funding Purchase of Capital Assets - 51.95 crore
Funding Working Capital Requirements - 250 Crore
Funding Purchase of Capital Assets - 51.95 crore
AND General Corporate Purposes
Capacite Infra Allocation
structure
the Issue is being made through the Book Building Process, in reliance
on Regulation 26(1) of the ICDR Regulations, wherein not more than 50% of the
Issue shall be available for allocation on a proportionate basis to Qualified
Institutional Buyers (“QIB Portion”).Further, not less than 15% of the Issue
shall be available for allocation on a proportionate basis to Non-Institutional
Investors and not less than 35% of the Issue shall be available for allocation
to Retail Individual Investors
Risks to the business
Capacite will have risk of avalibility of large number of contract
labours, with help of local contractors and sub-contractor. Issue on this could
lead to project completion delays. They may be subject to liability claims or
claims for damages or termination of contracts with their clients for failure
to meet project milestones or defective work, which may adversely impact their
profitability, cash flows, results of operations and reputation. Risks relating
to reliance on sub-contractors and third parties for supply of raw materials,
non-Core Assets and for providing certain services in the construction of their
projects that may adversely affect Capacite reputation, business and financial
condition. They are required to obtain approvals for our operations and any
failure to obtain licenses and approvals by us could adversely affect our
business,
Moneystreets Take on #Capacite
Infra IPO
At the upper price band
company is quoting a price of 24 PE. The company has kept its focus only on
construction, it has registred consistent growth in last 4 years. Man
Industries, a close competitor is trading at 16 PE. The IPO is fully priced.
However, looking at the clientele and growth numbers, the IPO is attractive. Capacite
Infra can be looked at for medium to long term story given government’s focus
on housing for all project. No promoter or investors are liquidating their stakes with the IPO, which indicates their strong commitment towards the business and reflects significant growth potential
#Capacite Infra, #Capacite Infra ipo, #Capacite Infra a capacite Infra IPO Allotment, Capacite IPO allotment, llotment
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