Vivek

IPO and stock market analysis

[Vivek @VivekRamoliya5]

Opened yesterday. Already 45x subscribed.

Retail quota: 74x. Big HNIs: 42x.
#GMP: ~76%. 🤯

#VansElectroengineerings is the SME IPO retail can't stop chasing. Closes TOMORROW.

I read the #RHP so you don't have to 👇

What does it actually do?
📍 Salem (Tamil Nadu) maker of vacuum circuit breakers
🚆 Used in railway electrification: traction substations, sectioning posts
✅ RDSO-approved products, approved vendor with CORE
👥 Just 33 employees, incorporated in 2022
In short: a tiny company riding India's rail electrification push.

📊 And the growth looks unreal.
Revenue: ₹2.6 Cr → ₹13.6 Cr → ₹22.8 Cr 📈
Profit: ₹0.02 Cr → ₹1.7 Cr → ₹5.4 Cr 📈
Profit margin now ~24%.

But here's the catch 👀
FY26 profit: +₹5.39 Cr
Cash from operations: -₹3.07 Cr 📉
Money customers still owe: ₹13.1 Cr = 57% of a full year's sales.
The profit is on paper. The cash hasn't arrived yet.

What are you paying?
At ₹118: mcap ~₹128 Cr
➤ P/E: ~24x on FY26 profit
➤ P/E: ~74x on FY25 profit
➤ Price/Book: ~10x
The RHP lists no listed peer to compare with.
24x is fine IF FY26 is the new base. 74x if it isn't.

So why is everyone buying? 🤔
🚆 Rail electrification is a multi-year government spend
📈 Revenue up 68% in FY26, profit tripled
💵 Order book ₹50.6 Cr = ~2.2x FY26 revenue
✅ 100% fresh issue, no promoter selling
🏭 Approvals (RDSO/CORE) are hard to get, a real moat for a small player

But here's what could go wrong ⚠️
❌ 93% of revenue linked to Indian Railways
❌ Top 5 customers = 66% of revenue
❌ Negative cash from operations while profits jump
❌ Only 3 years of real history, 2 product lines
❌ ₹25 Cr of the IPO money goes to working capital, i.e. funding unpaid bills

The real test: can Vans turn ₹13 Cr of receivables into cash? If yes, 24x is reasonable. If not, the growth is borrowed.

Bull vs bear case below 👇

#IPO #IPOReview #IPOAnalysis

[Vivek @VivekRamoliya5]

@amazingdeals27 Good breakdown, but one catch

Only Verified Home Timeline impressions count, not the total you see under a post.

The lever isn't more posts, it's reaching more Premium users.

[Vivek @VivekRamoliya5]

Two #IPOs closed today, and the market picked a clear winner 👇

#SRITIndia 🔥 125x subscribed
QIB: 91.84x
Big NII: 73.82x
Small NII: 221.97x
Retail: 56.92x
29 lakh+ retail applications

#ShahInvestorsHome 38x subscribed
QIB: 28.05x
Big NII: 21.82x
Small NII: 75.17x
Retail: 17.69x

Small HNIs went all-in on SRIT at 222x. Retail allotment odds are going to be brutal.

Which one did you apply for? 👇

#IPO #IPOSubscription

[Vivek @VivekRamoliya5]

Two #IPOs closed today, and the market picked a clear winner 👇

#SRITIndia 🔥 125x subscribed
QIB: 91.84x
Big NII: 73.82x
Small NII: 221.97x
Retail: 56.92x
29 lakh+ retail applications

#ShahInvestorsHome 38x subscribed
QIB: 28.05x
Big NII: 21.82x
Small NII: 75.17x
Retail: 17.69x

Small HNIs went all-in on SRIT at 222x. Retail allotment odds are going to be brutal.

Which one did you apply for? 👇

#IPO #IPOSubscription

[Vivek @VivekRamoliya5]

Opened yesterday. Already 45x subscribed.

Retail quota: 74x. Big HNIs: 42x.
#GMP: ~76%. 🤯

#VansElectroengineerings is the SME IPO retail can't stop chasing. Closes TOMORROW.

I read the #RHP so you don't have to 👇

What does it actually do?
📍 Salem (Tamil Nadu) maker of vacuum circuit breakers
🚆 Used in railway electrification: traction substations, sectioning posts
✅ RDSO-approved products, approved vendor with CORE
👥 Just 33 employees, incorporated in 2022
In short: a tiny company riding India's rail electrification push.

📊 And the growth looks unreal.
Revenue: ₹2.6 Cr → ₹13.6 Cr → ₹22.8 Cr 📈
Profit: ₹0.02 Cr → ₹1.7 Cr → ₹5.4 Cr 📈
Profit margin now ~24%.

But here's the catch 👀
FY26 profit: +₹5.39 Cr
Cash from operations: -₹3.07 Cr 📉
Money customers still owe: ₹13.1 Cr = 57% of a full year's sales.
The profit is on paper. The cash hasn't arrived yet.

What are you paying?
At ₹118: mcap ~₹128 Cr
➤ P/E: ~24x on FY26 profit
➤ P/E: ~74x on FY25 profit
➤ Price/Book: ~10x
The RHP lists no listed peer to compare with.
24x is fine IF FY26 is the new base. 74x if it isn't.

So why is everyone buying? 🤔
🚆 Rail electrification is a multi-year government spend
📈 Revenue up 68% in FY26, profit tripled
💵 Order book ₹50.6 Cr = ~2.2x FY26 revenue
✅ 100% fresh issue, no promoter selling
🏭 Approvals (RDSO/CORE) are hard to get, a real moat for a small player

But here's what could go wrong ⚠️
❌ 93% of revenue linked to Indian Railways
❌ Top 5 customers = 66% of revenue
❌ Negative cash from operations while profits jump
❌ Only 3 years of real history, 2 product lines
❌ ₹25 Cr of the IPO money goes to working capital, i.e. funding unpaid bills

The real test: can Vans turn ₹13 Cr of receivables into cash? If yes, 24x is reasonable. If not, the growth is borrowed.

Bull vs bear case below 👇

#IPO #IPOReview #IPOAnalysis

[Vivek @VivekRamoliya5]

So #VansElectroengineerings is a bet:

Rail electrification + a ₹50 Cr order book 🚀
vs
Paper profits, cash still stuck with customers 📉

Your call Vans ElectroEngineerings ?

Reply below 👇

I break down every major Indian IPO like this. Follow so you never miss one 🔔

#IPO #IPOReview #IPOAnalysis

[Vivek @VivekRamoliya5]

Opened yesterday. Already 45x subscribed.

Retail quota: 74x. Big HNIs: 42x.
#GMP: ~76%. 🤯

#VansElectroengineerings is the SME IPO retail can't stop chasing. Closes TOMORROW.

I read the #RHP so you don't have to 👇

What does it actually do?
📍 Salem (Tamil Nadu) maker of vacuum circuit breakers
🚆 Used in railway electrification: traction substations, sectioning posts
✅ RDSO-approved products, approved vendor with CORE
👥 Just 33 employees, incorporated in 2022
In short: a tiny company riding India's rail electrification push.

📊 And the growth looks unreal.
Revenue: ₹2.6 Cr → ₹13.6 Cr → ₹22.8 Cr 📈
Profit: ₹0.02 Cr → ₹1.7 Cr → ₹5.4 Cr 📈
Profit margin now ~24%.

But here's the catch 👀
FY26 profit: +₹5.39 Cr
Cash from operations: -₹3.07 Cr 📉
Money customers still owe: ₹13.1 Cr = 57% of a full year's sales.
The profit is on paper. The cash hasn't arrived yet.

What are you paying?
At ₹118: mcap ~₹128 Cr
➤ P/E: ~24x on FY26 profit
➤ P/E: ~74x on FY25 profit
➤ Price/Book: ~10x
The RHP lists no listed peer to compare with.
24x is fine IF FY26 is the new base. 74x if it isn't.

So why is everyone buying? 🤔
🚆 Rail electrification is a multi-year government spend
📈 Revenue up 68% in FY26, profit tripled
💵 Order book ₹50.6 Cr = ~2.2x FY26 revenue
✅ 100% fresh issue, no promoter selling
🏭 Approvals (RDSO/CORE) are hard to get, a real moat for a small player

But here's what could go wrong ⚠️
❌ 93% of revenue linked to Indian Railways
❌ Top 5 customers = 66% of revenue
❌ Negative cash from operations while profits jump
❌ Only 3 years of real history, 2 product lines
❌ ₹25 Cr of the IPO money goes to working capital, i.e. funding unpaid bills

The real test: can Vans turn ₹13 Cr of receivables into cash? If yes, 24x is reasonable. If not, the growth is borrowed.

Bull vs bear case below 👇

#IPO #IPOReview #IPOAnalysis

[Vivek @VivekRamoliya5]

#SRITIndia is the hottest IPO closing today, with bNII bids at 199x.

5 IPOs close today. Here's the full subscription + GMP breakdown, one by one 🧵👇

#IPO #IPOSubscription #IPOGMP

[Vivek @VivekRamoliya5]

#ShivchemAgro (BSE SME)
Demand is lukewarm 🤔

👤 Retail: 2.77x
💼 sNII: 0.59x | bNII: 0.80x
🏦 QIB: 1.00x
🔥 Total: 1.72x
💰 GMP: ₹1 (1.61%) (unofficial)
🏷️ Price: ₹62 | ⏰ Closes: 30 Sep

[Vivek @VivekRamoliya5]

#SRITIndia is the hottest IPO closing today, with bNII bids at 199x.

5 IPOs close today. Here's the full subscription + GMP breakdown, one by one 🧵👇

#IPO #IPOSubscription #IPOGMP

[Vivek @VivekRamoliya5]

#PindHospitality (BSE SME)
Retail is carrying this one, HNIs sitting out 🤔

👤 Retail: 3.39x
💼 sNII: 0.56x | bNII: 1.20x
🏦 QIB: 1.00x
🔥 Total: 2.17x
💰 GMP: ₹1 (1.01%) (unofficial)
🏷️ Price: ₹99 | ⏰ Closes: 30 Sep

[Vivek @VivekRamoliya5]

Busy day in the primary market 🟢

10 IPOs open TODAY:
2 mainboard,
8 SME

Together they're raising over ₹725 Cr.

Both mainboard issues need about ₹15,000 to apply.

Here's every one of them 🧵👇

#IPO #StockMarket #IPOReview

[Vivek @VivekRamoliya5]

Which new IPO is on your radar?

#VishalNirmiti, #NityasGemsJewellery or #AcmeIndiaIndustries?

Reply below 👇

Follow for more details and news like this 🔔

#IPO #IPOOpen

[Vivek @VivekRamoliya5]

Busy day in the primary market 🟢

10 IPOs open TODAY:
2 mainboard,
8 SME

Together they're raising over ₹725 Cr.

Both mainboard issues need about ₹15,000 to apply.

Here's every one of them 🧵👇

#IPO #StockMarket #IPOReview

[Vivek @VivekRamoliya5]

More SME IPOs opening today 🟢 Close 5 Oct

#DoveSoft: ₹104-111 | Min ₹2.66L
#OmaraVenturesIndia: ₹296-311 | Min ₹2.49L
#Eventions (NSE): ₹112-118 | Min ₹2.83L
#SJPUltrasonics: ₹67 | Min ₹2.68L
#SollfegeSmartElectronics: ₹55 | Min ₹2.20L

All list 8 Oct.