Tuesday, 3 October 2017

SHARE INDIA SECURITIES LTD – “YOU GENERATE WE MULTIPLY”


Share India Securities Ltd (old name – FMS Securities Ltd), was established in Year 1994, and commenced its stock broking operations with SEBI registration by Year 2000. Share India got its registration as Trading and clearing member in 2008 with BSE and in 2012 with NSE and with introduction of future and options in the market it got itself registered for the same. Thus, currently, Share India Securities is providing broking services in Equity, Currency derivative and Future & Options segment of National Stock Exchange of India Limited and BSE Limited.


NETWORK: Share India Securities has its registered office located at Uttar Pradesh with Corporate base at Delhi. Brach offices located at UP, Mumbai, Delhi, Jaipur, Haryana with 5 sub brokers and 173 authorized persons registered in BSE and 03 sub brokers and 163 authorized persons in NSE all over India.

FINANCIAL HIGHLIGTH:  (Fig. in Crs.)

STANDALONE BASIS

PARTICULARS
2017
2016
2015
2014
2013
EQUITY
1849
462.31
424.49
393.65
393.65
FACE VALUE
10
10
10
10
10
BOOK VALUE
17.87
53.86
40.97
33.31
31.86
INCOME
11014.1
7399
3337
1912.43
1736
PAT
813.82
627.75
334.71
57.04
144.75
EPS
4.40
13.57
7.88
1.44
3.67

CONSOLIDATED BASIS

PARTICULARS
2017
2016
EQUITY
1849
462.31
FACE VALUE
10
10
BOOK VALUE
18.10
54.75
INCOME
11009
7399
PAT
802
627.75
EPS
3.28
13.57




 LISTING STATUS:
Share India Securities Ltd has filled the draft prospectus with BSE – SME segment on 18th August, 2017. Share India Securities Ltd IPO recently opened on 21st September, 2017 and closed on 26th September, 2017. IPO was a combination of offer for sale of 5,00,000 shares by promoters and fresh issue of 59,32,000 shares of face value Rs.10. Share under the IPO was issued at Rs.41/shr (i.e at a premium of Rs.31/shr). To be listed on BSE – SME Segment.

Share India Securities was offered in IPO at a valuation of PE-10 and P/BV – 2 Times which is considered to be undervalued and good opportunity for investment with a long run growth prospective of market.



CAPITAL STRUCTURE:

Share India Securities Ltd had a paid up capital base of Rs. 462.31 Lacs as on March 2017. In July, 2017 Company declared a bonus of 3:1 which increased the capital base to Rs.1849 Lacs. Post IPO the capital base shall further rise to Rs. 2442.46 Lacs due to fresh issue of 59,32,000 share at a premium of Rs.31/shr of face value Rs.10.


VALUATION IN COMPARISON WITH LISTED PEER COMPANIES:

Share India Securities Ltd is a broking firm engaged in trading of all types of market traded securities. Thus on a wider prospective we shall compare the company with top rated listed broking firm i.e Motilal Oswal Financial Services Ltd, Edelweiss Financial Services Ltd, Emkay Global Financial Services Ltd, Aditya Birla Money Ltd, etc. All the listed peers runs at PE- 40 TO 50 with Industrial PE -43 , P/BV stands in range of 5 to 7 and Market Cap/ Total Income is in multiple of 3 to 5 times.

Post IPO Share India Securities Ltd shall have EPS of around 3.28, Book value of 23.66 on capital base of Rs.24.42 Crs. So based on this average parameters mentioned above one can assume the valuation of Share India Securities Ltd to be around Rs.100+/per share in the future.




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