NEW DELHI: GTPL Hathway<\/a> initial public offer got subscribed 0.26 per cent on the first day of the offer till 11 am (IST). 新德里消息:GTPL Hathway首次公开发行认购了0.26%的第一天提供直到11点(IST)。
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The public offer received bids for 52,624 shares against the total issue size of 2.02 crore shares, data available with the NSE<\/a> showed. The company has fixed a price band of Rs 167-170 and the issue will close on June 23, Friday.
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\nRetail investors can bid for a minimum of 88 equity shares. Brokerage houses are not looking positive on GTPL Hathway<\/a> due to higher valuations.
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Angel Broking in a research note said, “In terms of valuation, GTPL’s P\/BV multiple annualised 9MFY2017 at 3.1x, as compared to peers Den Networks<\/a> 1.8x, Hathway Cable & Datacom<\/a> 0.7x, Ortel Comm. 1.4x, Siti Networks 4.8x. The cable industry is already undergoing a period of weak performance and with disruptive pricing of new entrants, there is a high probability that the performance may weaken further. Hence, we recommend ‘Neutral’ rating on the issue.
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\nIn the three fiscals to end FY16, the company’s topline grew at a CAGR of 18.5 per cent to Rs 738 crore. In the same period, net profit touched Rs 4.5 crore, after a loss of Rs 8.4 crore in FY14.
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\nBrokerage firm Choice Broking has given ‘Avoid’ rating to the issue. “Based on FY16 EPS, we feel that the demand high valuation is not justified. We estimate a FY18 earnings of Rs 3.5 per share and book value per share of Rs 62.4, which translates into a FY18 forward P\/BVPS multiple of 2.7x, which is in-line to the peer average, thereby having little room for appreciation,” said the brokerage house.
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The book running lead managers to the issue are JM Financial<\/a> Institutional Securities, BNP Paribas<\/a>, Motilal Oswal<\/a> Investment Advisors and Yes Securities (India).
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According to ICICI Securities, GTPL Hathway remains one of the very few profit making MSO. “We remain wary of cable industry structure wherein LCOs hold the key for effective monetisation pass through. There is also a risk<\/a> of disruption in the broadband business<\/a> from Jio’s foray into FTTH. The stock is available at a multiple of 7.5x FY17 annualised EV\/EBITDA, on the higher band,” the brokerage house said.
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\nGTPL Hathway was initially incorporated by Aniruddhasinhji Jadeja and Kanaksinh Rana, through the consolidation of cable service businesses in Ahmedabad and Vadodara. In October 2007, Hathway acquired a 50 per cent share of business. The company is a leading regional multi system operator in India, offering cable television and broadband services.\n\n<\/p><\/body>","next_sibling":[{"msid":59246360,"title":"AMD re-enters server processor market with EPYC to take on Intel","entity_type":"ARTICLE","link":"\/news\/amd-re-enters-server-processor-market-with-epyc-to-take-on-intel\/59246360","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59248783,"entity_type":"ARTICLE","title":"GTPL Hathway IPO off to a slow start; should you buy?","synopsis":"Brokerage houses are not looking positive on GTPL Hathway due to higher valuations.","titleseo":"telecomnews\/gtpl-hathway-ipo-off-to-a-slow-start-should-you-buy","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2017-06-21 12:02:55","lastupd":"2017-06-21 12:03:19","breadcrumbTags":["Hathway Cable & Datacom","gtpl hathway","IPO","Internet","risk","NSE","JM Financial","Motilal Oswal","BNP Paribas","Den Networks","Business"],"secinfo":{"seolocation":"telecomnews\/gtpl-hathway-ipo-off-to-a-slow-start-should-you-buy"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2017-06-21" data-index="article_1">
公众的报价收到了52624股的总发行规模2.02卢比的股票,可用的数据分析了无说明了这一点。公司拥有固定的Rs 167 - 170价格区间和问题将关闭6月23日,星期五。
散户投资者可以出价至少88股票。经纪公司不积极GTPL Hathway由于更高的估值。
天使经纪在一份研究报告中说,“在估值方面,GTPL P / BV多个年9 mfy2017 3.1 x,相比同行窝网络1.8倍,Hathway大东元器件0.7 x, Ortel通讯。1.4 x,提网络4.8 x。电缆行业已经经历一段时间的疲软表现和破坏性的定价的新进入者,有一个高概率的性能可能会进一步削弱。因此,我们建议在这个问题上“中性”评级。
的三个财政FY16结束,该公司的营收增长了18.5%的复合年增长率到738卢比。在同一时期,净利润触及4.5卢比,后在FY14亏损8.4卢比。
经纪公司经纪选择了“避免”评级的问题。“基于FY16 EPS,我们认为高估值的需求是不公正的。我们估计FY18收益每股3.5 Rs和每股账面价值62.4卢比,这转化为FY18向前P / BVPS 2.7倍的倍数,内联同行平均水平,因此几乎没有升值的空间,”经纪公司说。
这本书导致经理运行问题JM金融机构证券,法国巴黎银行(BNP Paribas),Motilal Oswal投资顾问和是的证券(印度)。
据印度工业信贷投资银行证券,GTPL Hathway仍为数不多的利润让美索。“我们仍对电缆产业结构在硅晶为有效盈利通过的关键。还有一个风险中断的宽带业务FTTH Jio进军。股票可以在7.5倍的倍数FY17年EV / EBITDA,更高的乐队,”经纪公司说。
GTPL Hathway最初的Aniruddhasinhji Jadeja Kanaksinh Rana,通过整合有线电视服务业务在艾哈迈达巴德和瓦尔道拉。2007年10月,Hathway获得了50%的份额。该公司在印度是一个领先的地区多系统运营商,提供有线电视和宽带服务。
NEW DELHI: GTPL Hathway<\/a> initial public offer got subscribed 0.26 per cent on the first day of the offer till 11 am (IST).
\n
The public offer received bids for 52,624 shares against the total issue size of 2.02 crore shares, data available with the NSE<\/a> showed. The company has fixed a price band of Rs 167-170 and the issue will close on June 23, Friday.
\n
\nRetail investors can bid for a minimum of 88 equity shares. Brokerage houses are not looking positive on GTPL Hathway<\/a> due to higher valuations.
\n
Angel Broking in a research note said, “In terms of valuation, GTPL’s P\/BV multiple annualised 9MFY2017 at 3.1x, as compared to peers Den Networks<\/a> 1.8x, Hathway Cable & Datacom<\/a> 0.7x, Ortel Comm. 1.4x, Siti Networks 4.8x. The cable industry is already undergoing a period of weak performance and with disruptive pricing of new entrants, there is a high probability that the performance may weaken further. Hence, we recommend ‘Neutral’ rating on the issue.
\n
\nIn the three fiscals to end FY16, the company’s topline grew at a CAGR of 18.5 per cent to Rs 738 crore. In the same period, net profit touched Rs 4.5 crore, after a loss of Rs 8.4 crore in FY14.
\n
\nBrokerage firm Choice Broking has given ‘Avoid’ rating to the issue. “Based on FY16 EPS, we feel that the demand high valuation is not justified. We estimate a FY18 earnings of Rs 3.5 per share and book value per share of Rs 62.4, which translates into a FY18 forward P\/BVPS multiple of 2.7x, which is in-line to the peer average, thereby having little room for appreciation,” said the brokerage house.
\n
The book running lead managers to the issue are JM Financial<\/a> Institutional Securities, BNP Paribas<\/a>, Motilal Oswal<\/a> Investment Advisors and Yes Securities (India).
\n
According to ICICI Securities, GTPL Hathway remains one of the very few profit making MSO. “We remain wary of cable industry structure wherein LCOs hold the key for effective monetisation pass through. There is also a risk<\/a> of disruption in the broadband business<\/a> from Jio’s foray into FTTH. The stock is available at a multiple of 7.5x FY17 annualised EV\/EBITDA, on the higher band,” the brokerage house said.
\n
\nGTPL Hathway was initially incorporated by Aniruddhasinhji Jadeja and Kanaksinh Rana, through the consolidation of cable service businesses in Ahmedabad and Vadodara. In October 2007, Hathway acquired a 50 per cent share of business. The company is a leading regional multi system operator in India, offering cable television and broadband services.\n\n<\/p><\/body>","next_sibling":[{"msid":59246360,"title":"AMD re-enters server processor market with EPYC to take on Intel","entity_type":"ARTICLE","link":"\/news\/amd-re-enters-server-processor-market-with-epyc-to-take-on-intel\/59246360","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59248783,"entity_type":"ARTICLE","title":"GTPL Hathway IPO off to a slow start; should you buy?","synopsis":"Brokerage houses are not looking positive on GTPL Hathway due to higher valuations.","titleseo":"telecomnews\/gtpl-hathway-ipo-off-to-a-slow-start-should-you-buy","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2017-06-21 12:02:55","lastupd":"2017-06-21 12:03:19","breadcrumbTags":["Hathway Cable & Datacom","gtpl hathway","IPO","Internet","risk","NSE","JM Financial","Motilal Oswal","BNP Paribas","Den Networks","Business"],"secinfo":{"seolocation":"telecomnews\/gtpl-hathway-ipo-off-to-a-slow-start-should-you-buy"}}" data-news_link="//www.iser-br.com/news/gtpl-hathway-ipo-off-to-a-slow-start-should-you-buy/59248783">
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