Preeti Kapoor

 Nityas Gems & Jewellery IPO — My View Nityas Gems is into gold jewellery with lab-grown diamonds, with both B2B and D2C business. What I like  • Revenue grew from ₹54 Cr to ₹203 Cr • PAT increased from ₹4 Cr to ₹22 Cr • Margins have improved • Integrated manufacturing + jewellery business • Lab-grown diamonds could be a good long-term opportunity • IPO money is mainly for working capital, not OFS But the risks matter  1. Cash Flow: FY26 profit was ~₹22 Cr, but operating cash flow was negative ₹14.7 Cr. 2. Working Capital: Money is getting stuck in inventory and receivables. Working-capital days have increased significantly. 3. Supplier Concentration: Top 10 suppliers contribute around 86% of purchases. 4. Lab-Grown Diamond Risk: Prices can fall quickly, which can impact inventory value and margins. 5. Governance/Controls: RHP mentions an internal theft/misappropriation incident at a subsidiary. No promoter involvement is indicated, but internal controls need to be wa...

  SRIT India IPO — QuickView I went through the RHP, and honestly, this is not a “story-only” IPO. SRIT has been in the IT business since 1999 , working across e-governance, telecom & healthcare, with government/public-sector clients and a 26-year operating track record. Financials look decent: Revenue grew from ₹271 Cr → ₹450 Cr and PAT from ₹29 Cr → ₹43 Cr between FY24–FY26. At the ₹123–130 price band , FY26 EPS of ₹9.47 implies roughly 13.0–13.7x P/E . The disclosed peer average is 18.3x, so the headline valuation doesn't look stretched. Promoters: RHP does not disclose criminal proceedings, SEBI penalties, regulatory actions or material civil proceedings against the promoters. That’s a positive from a governance-screening perspective. But here’s what I don't want to ignore: FY26 operating cash flow was negative ₹12 Cr despite ₹43 Cr PAT . The company also has a sizeable working-capital requirement, which is why ₹124 Cr of IPO proceeds is earmarked for wor...

  German Green Steel & Power IPO – Quick RHP Analysis   Business & Sector The company is into steel manufacturing , mainly TMT bars. Steel is a cyclical business, so margins can change with steel prices and demand. Financials look positive Profit increased from ₹41.7 Cr (FY24) → ₹59.9 Cr (FY25) → ₹79.9 Cr (FY26) . FY26 ROCE was around 20% . Valuation IPO price band is ₹132–₹139 . With FY26 EPS of ₹14.91 , the IPO is valued at roughly 8.9x–9.3x P/E . The RHP peer range is quite wide, so the important question is not just growth, but whether this valuation is justified by the company's future growth and profitability . Promoters Promoters are involved in the business, but there are promoter guarantees against certain borrowings , which investors should keep an eye on.  Liabilities/Risks The company has working-capital borrowings and bank guarantees. So, the balance sheet is not completely risk-free . Overall Financial growth looks encouraging a...

  Moneyview IPO  — I went through the RHP. Here’s my simple view. Moneyview is not just a loan app. It is a digital lending platform , with personal loans as its main business. Growth looks strong • Revenue: ₹2,339 Cr → ₹3,351 Cr • Loan disbursals: ₹17,621 Cr → ₹23,099 Cr • FY26 reported profit: ₹243 Cr  One important point — ₹160 Cr CEO incentive FY26 profit was impacted by a one-time ₹160 Cr incentive paid to CEO Puneet Agarwal . This was a performance/long-term value-linked incentive and was recognised as an expense in FY26. So, on a simplified basis: ₹243 Cr reported profit + ₹160 Cr one-time expense = ~₹403 Cr adjusted profit This makes the valuation look different. But the important question is: Will such a large payout recur in the future, and was it justified by the value created?  Valuation at ₹34 • Market Cap: ~₹5,985 Cr • Reported P/E: ~21.7x • P/B: ~2.3x • Adjusted P/E: ~15x The valuation doesn't look extremely expensive on ...

I went through the NSE RHP, and honestly, this is not a typical IPO story. What stands out? 🔹 Strong business moat: NSE has massive scale and around 51% global share in equity-derivatives contracts. 🔹 Excellent profitability: FY26 EPS ₹41.62 and RoNW 33.21%. The business has maintained strong profitability. 🔹 Ownership structure: NSE does not have an identifiable promoter . It is a widely held market-infrastructure company, so the usual promoter holding analysis is not directly applicable here. 🔹 100% OFS: Existing shareholders are selling their shares; NSE itself is not raising fresh capital through the IPO. 🔹 Valuation: At ₹1,785, NSE is valued at roughly 43x FY26 earnings — not cheap, but below BSE’s RHP-reported 54.3x P/E. 🔹 Key risks: High dependence on derivatives, regulatory changes and technology/cybersecurity risks. My takeaway: NSE looks like a high-quality and highly profitable market-infrastructure business, but the IPO comes at a premium valuation. The bigger ...

  Glass Wall Systems IPO — My Quick Take Went through the RHP of Glass Wall Systems .At first glance, the numbers look impressive: Revenue: ₹304 Cr → ₹457 Cr (FY24–FY26) PAT: ₹20 Cr → ₹84 Cr EBITDA Margin: ~23% ROCE: ~43% Debt/Equity: ~0.03x Fresh issue: ₹60 Cr, with ~₹50 Cr for a new Glass Processing Unit. But a few things make me cautious • Top 10 customers = ~86% of revenue • 45% revenue comes from international business • Receivables ~₹109 Cr • RHP highlights related-party & historical accounting/control issues . Valuation = Fair to Slightly Expensive At ₹182, valuation is ~18x FY26 earnings My view: Good business + strong financials, but risks need to be watched. Not an investment recommendation. Do your own research.

  Indo-MIM IPO: A Strong Manufacturing Bet or an Expensive Opportunity? The Indo-MIM IPO has caught investors' attention for all the right reasons. As one of the world's leading Metal Injection Moulding (MIM) manufacturers, the company supplies precision components to industries like defence, aerospace, medical devices, automotive, and industrial engineering . Its strong export business and consistent financial growth make it a company worth watching. IPO Snapshot Particulars Details Issue Size ₹3,811.21 Crore Price Band ₹461–₹485 per share Lot Size 30 Shares IPO Opens 23 July 2026 IPO Closes 27 July 2026 Listing NSE & BSE Why Investors Like Indo-MIM Global leader in Metal Injection Moulding (MIM). Around 77% of revenue comes from exports , giving it a strong international presence. Serves high-growth sectors like defence, aerospace, healthcare, and EVs. Healthy revenue and profit growth over the last few years. Things to Keep in Mind A major part of the IPO is an Offer f...

  Caliber Mining & Logistics IPO GMP: Should You Apply? The Caliber Mining & Logistics IPO has become one of the most talked-about IPOs this week. A strong Grey Market Premium (GMP) and positive investor interest have put it on many investors' watchlists. But does it deserve a place in your portfolio? IPO at a Glance IPO Size: ₹450 Crore Price Band: ₹402–₹424 per share Lot Size: 35 shares Minimum Investment: ₹14,840 Latest GMP The IPO is currently commanding a healthy GMP of around ₹105–₹118 , indicating an expected listing gain of nearly 25–28% . Remember, GMP reflects market sentiment and can change before listing. ( m.economictimes.com ) What Does the Company Do? Caliber Mining & Logistics provides mining and transportation services, mainly for the coal sector. Its business includes mine development, coal extraction, and logistics support for government-linked mining companies. Should You Apply? The company has shown improving financial performance, and the stro...