That marginal improvement was completely undone here. Source: Seritage. That is a truly stunning testament to the macro forces that even the wallet of Warren Buffett cannot counter. One alarming fact that investors need to focus on is just how quickly interest expense is rising. One has to note here that there is no timeline here where SRG will come close to covering even the interest expense. Here again we stress that this is base rent and not NOI which is substantially lower.
From a bull perspective there was absolutely nothing but ruin in the report, but if you had an optimistic bent, then perhaps there were two mild positives. The first was that the marked deterioration in SNO leases slowed down this quarter.
If investors remember from previous reports, SRG was blowing through these quarter after quarter and completely undoing any chance of reaching a positive FFO this decade. Well, this quarter we saw stabilization of sorts. Total SNO leases did decline to 83 but that was not a negative considering 7 new leases were operational.
At the current rate of cash burn and property disposals, we think SRG is likely to head to bankruptcy over time. So if NOI moved up four fold, then you could cover interest expense. Let's not lose sight of the fact that the interest expense continues to rise quarter after quarter and SRG keeps selling an average of 6 properties every quarter to keep the cash coming in. The numbers below are downright scary. Of course BRK. B has to be willing to do that and SRG's management will have to acknowledge that all those dreams of massive returns at the IPO, will remain just dreams.
But that seems the best way out. Please note that this is not financial advice. It may seem like it, sound like it, but surprisingly, it is not. Investors are expected to do their own due diligence and consult with a professional who knows their objectives and constraints. Conservative Income Portfolio targets the best value stocks with the highest margins of safety.
The volatility of these investments is further lowered using the best priced options. We focus on being the house and take the opposite side of the gambler. Conservative Income Portfolio is designed for investors who want reliable income with the lowest volatility.
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August 24, Lead Managers. Aryaman Financial. Sharex Dynamic. While 4. The balance Whereas the market maker has underwritten to the tune of That is, investors have to apply for a minimum of shares and multiples thereof. Of the Rs 7. Nevertheless, the proposed funding plan is not appraised by any external agency. Though the group has seven more companies in its fold, SHFL will be the first company to tap the capital market. Interestingly, the group has two more companies in the NBFC segment.
In fact, none of the group companies has any creditable record to speak about. In twelve years between December and March , SHFL made as many as 12 preferential allotments thereby taking its capital from just Rs to Rs 3. In April , it made bonus issue enlarging the capital to Rs 4. The name was changed to the present one in Though profit-making for many years, the company is yet to pay dividend.
SHFL is primarily engaged in the business of providing finance for house ownership, offering individual home loans and loans against property. The company seems to operate within Rajasthan having a head office and 3 satellite centers.
SHFL speaks of encouraging prospects for housing finance companies. Of course, the industry clocked impressive performance in fiscal in terms of business growth and profitability. However, of late, the industry is reeling under uncertainties caused by the economic slow down and inflation. For a decade-old company this may not be a steep valuation.
But, will the premium issue fetch return in the foreseeable future? How SRG compares with housing finance scrips. Rs Cr. LIC Housing Fin. Gruh Finance. Dewan Housing Fin. GIC Housing Fin. Can Fin Homes. Seema Jain and 3. Rajesh Jain. IPO closing date rescheduled to August 28, to compensate for a proposed two-day nationwide strike in banks. The Issue, which was originally scheduled to close on 24th August will now close on August 28, due to a two-day nationwide strike in banks.
Out of this public issue of 35,04, equity shares, 4,98, equity shares are reserved for Promoters and 4,08, equity shares are reserved for Market Makers, leaving a net public issue of 25,98, equity shares. The Issue and Net Issue will constitute Limited is the Registrar for the Issue.
The Company is primarily engaged in the business of providing housing finance for home ownership, by offering individual home loans and loans against property. Presently, it has one head office and 3 satellite centers located in Rajasthan and the Company is targeting to open another 10 satellite centers which are to be located in tier 2 cities, tier 3 cities, District and Tehsil head quarters and at the peripheries of tier 1 cities.
These are their key target markets, based on their belief that they are underserved by larger Housing Finance Companies and banks. Well recognized brand in Rajasthan with an established track record, strong senior management team backed by experienced promoters, direct customer contact and niche marketing strategy are some of the key competitive strengths of the Company.
The Company proposes to augment its capital base and provide for its fund requirements for increasing its operational scale with respect to disbursement of housing and related loans activities, through this Issue. SRG Housing Finance Ltd propose to augment its capital base by Rs Lakhs and utilize the funds raised from the same to further increase its operational scale of such business activities and assets, which will consequently result in an increase in its net worth and enable the Company to meet its future capital adequacy requirements.
It will further help the Company to develop close relationships with individual households and enhance customer relationships. As SME IPOs have unaffordable entry level for subscription point as well as post listing they are not really meant for retail masses. Risks aver HNI's may dare to lock their funds for long term rewards.
The minimum order quantity is Shares. Ranked Members List. Open Instant Account. Open Instant Account Now! Enquire Now. Request Call Back. Choose Current IPO Objects of the Issue: The Objects of the Issue are as follows: 1. IPO Notices. Read detail review
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SRG Securities Finance IPO is a SME IPO of 2,, equity shares of the face value of ₹10 aggregating up to ₹ Crores. The issue is priced at ₹20 per. The IPO page of S R G Securities Finance Ltd. captures the details on its Issue Open Date, Issue Close Date, Listing Date, Face Value, Price band. The IPO page of SRG Housing Finance Ltd. captures the details on its Issue Open Date, Issue Close Date, Listing Date, Face Value, Price band, Issue Size.