Cover Drive

IPOs - SME & Main Board || Covering Earnings || EP, DEP & IPO Base Setups || Not SEBI Regd. ||

[Cover Drive @cover_drive05]

I cover IPOs & Earnings, then look for what matters on the chart.

My focus: Young IPO base setups, Episodic Pivots & Delayed Episodic Pivots.

I share the complete setup, thought process & key details here.

For more Educational content scroll to the thread below 👇👇

Follow @cover_drive05 for more of these.

[Cover Drive @cover_drive05]

@tradinghustlr Thanks for sharing man 🙌🙏😍

[Cover Drive @cover_drive05]

@tradinghustlr Good constructive base but avoid due to in F&O segment.

[Cover Drive @cover_drive05]

@IndianTechGuide Dependency at its peak lol...

[Cover Drive @cover_drive05]

@IndianTechGuide Better Joke Please

[Cover Drive @cover_drive05]

https://t.co/ms60YH9Clq

[Cover Drive @cover_drive05]

Are you confused about SME IPO & MAIN BOARD IPO.

A Simple Difference:

Mainboard IPOs are generally larger, more established companies.

SME IPOs are smaller businesses with lower issue sizes and higher investment/trading constraints.

[Cover Drive @cover_drive05]

I cover IPOs & Earnings, then look for what matters on the chart.

My focus: Young IPO base setups, Episodic Pivots & Delayed Episodic Pivots.

I share the complete setup, thought process & key details here.

For more Educational content scroll to the thread below 👇👇

Follow @cover_drive05 for more of these.

[Cover Drive @cover_drive05]

@tradinghustlr Jale pr namak daal diya aapne 🙂

[Cover Drive @cover_drive05]

Varmora Granito IPO — Should You Apply?

What does the company do?

Varmora Granito manufactures & markets ceramic, vitrified & glazed vitrified tiles, along with bathware and related surface products. It operates manufacturing facilities in Morbi and has a large retail/distribution network.

IPO at a glance:
₹708 Cr issue | ₹140–148 price band | 101 shares/lot
Fresh Issue: ₹320 Cr | OFS: ₹388 Cr
₹245 Cr of proceeds earmarked for debt repayment.

Financials:
FY26 Revenue: ~₹1,563 Cr
FY26 PAT: ~₹55 Cr
EBITDA Margin: ~14.2%
RoNW: ~7.8%
Post-issue P/E: ~60.7×

The catch:
➡️ ~55% of the IPO is OFS
➡️ High dependence on Morbi manufacturing
➡️ Energy/raw-material costs can impact margins
➡️ Valuation leaves limited room for error
➡️ GMP is currently around ₹0, while Day-3 subscription was only ~0.49× at 1:45 PM.

Worth applying?
For listing gains, current GMP + muted subscription don't provide a strong signal.

For long-term, the improving profitability and debt reduction are positives, but the valuation and business risks need to be weighed carefully.

Not investment advice!!

[Cover Drive @cover_drive05]

4 Listings were today:

NSE, SonaSelection, Kheria Autocomp & Spectraa.

Listing gain of these are following:
• NSE: ₹1,785 → ₹1,800 (0.84%)
• SonaSelection: ₹99 → ₹102.31 ( +3.34%)
• Kheria Autocomp: ₹101 → ₹104.90 (+3.86%)
• Spectraa: ₹118 → ₹224.20 (+90.00%)

Spectraa listed with a huge Premium with +90%.

[Cover Drive @cover_drive05]

3 IPOs listed Today:

→ SS Retail:
Listing Gain: +47.17%

→ Jindal Supreme (India):
Listing Gain: +29.03%

→ Hero Motors:
Listing Gain: -2.38%

All hit Upper Circuit on the listing day.

IPOs are on a boom!!

Which one you got alloted?

[Cover Drive @cover_drive05]

2 IPOs closed today with a huge Subscription:

✨SS Retail: 180x
• GMP: 34% (Issue Price + GMP = ₹568)
• Issue Price: ₹424
• Issue Size: ₹500Cr

✨Jindal Supreme (India): 103x
• GMP: 28% (Issue Price + GMP = ₹119)
• Issue Price: ₹93
• Issue Size: ₹125 Cr

#IPO #NSE

[Cover Drive @cover_drive05]

There is good recovery in Young IPO Stocks.

- Showing immense strength.

• Rent Mojo
• Deepa
• Arcil
• Manika & many more

[Cover Drive @cover_drive05]

NSE IPO, allotment is out now.

...do you get the allotment?

[Cover Drive @cover_drive05]

https://t.co/vIPRJFREfh

[Cover Drive @cover_drive05]

NSE IPO:
GMP risen to 3.64%(₹65) from 2.69%
Estimated profit for Retailers is ₹520.

Grey market expecting a decent listing of #NSE. But GMP is not a full proof guarantee of the actual listing. Waiting for the listing.

[Cover Drive @cover_drive05]

https://t.co/vIPRJFREfh

[Cover Drive @cover_drive05]

Manika Plastech IPO listed today on NSE & BSE.

Issue price: ₹43
Listing price: ₹43 on both NSE & BSE
Listing gain: ₹0 / 0% — flat listing.
IPO lot: 348 shares → ₹0 listing gain per lot.

GMP had fallen to around ₹1 before listing, but the actual debut was flat.

#IPO #NSE

[Cover Drive @cover_drive05]

@tradinghustlr Varroc Engineering I guess.

[Cover Drive @cover_drive05]

2 Main Board IPOs were closed today for subscription.

→ National Stock Exchange
→ Sona Selection

NSE subscribed by 5.71x & Sona Selection subscribed by 2.01x

TENTATIVE Allotment Matrix in National Stock Exchange (NSE) IPO:

• BHNI: 10 out of 13 will get 120 shares
• SHNI: 10 out of 33 will get 120 shares
• Retail: Minimum 8 shares are confirm

TENTATIVE Allotment Matrix in Sona Selection IPO:

• Retail: ~33,367 out of ~80,000 applicants
• SHNI: ~50–52% of applicants
• BHNI: ~50% of applicants

Follow @cover_drive05 for more details!!

[Cover Drive @cover_drive05]

2 Main Board IPOs are going to close on Monday:

→ National Stock Exchange
→ Sona Selection

NSE subscribed by 1.04x & Sona Selection subscribed by 0.20x

Which one you applied?

[Cover Drive @cover_drive05]

Anchor Investors List of Sona Selection is out now.

Anchor Investors:
→ Astorne Capital VCC
→ India Max Investment Fund Ltd
→ Lord Multi Growth Fund

[Cover Drive @cover_drive05]

5 SME IPOs are going to listed this week:

→ Vama Wovenfab
→ Shakti Polytarp
→ Quanto Agroworld
→ Century Business Media Ltd
→ Injecto Polymers

Century Business Media & Injecto are going to listed on 21st Sept, and Vama, Shakti Polytrap & Quanto Agro are going to listed on 22nd Sept.

According to Grey Market (GMP), listing seems very decent.

No recommendations!!

[Cover Drive @cover_drive05]

@ipo_mantra Now it crashed to 3.25%

[Cover Drive @cover_drive05]

2 Main Board IPOs are going to close on Monday:

→ National Stock Exchange
→ Sona Selection

NSE subscribed by 1.04x & Sona Selection subscribed by 0.20x

Which one you applied?