{"id":224,"date":"2023-11-05T06:22:05","date_gmt":"2023-11-05T06:22:05","guid":{"rendered":"https:\/\/smemitra.com\/?p=224"},"modified":"2023-11-05T06:22:44","modified_gmt":"2023-11-05T06:22:44","slug":"baba-food-processing-sme-ipo","status":"publish","type":"post","link":"https:\/\/smemitra.com\/index.php\/2023\/11\/05\/baba-food-processing-sme-ipo\/","title":{"rendered":"Baba Food Processing &#8211; SME IPO"},"content":{"rendered":"\n<p>Baba Food Processing is an agro-food manufacturing company. The company manufactures a range of products including Whole Wheat Atta (Wheat Flour), Refined Flour (Maida), Tandoori Atta, and Semolina flour (Sooji).<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">IPO Review<\/h5>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>Parameters<\/th><th class=\"has-text-align-right\" data-align=\"right\">Score (0-5)<\/th><th>Comments<\/th><\/tr><tr><td>Promotors\/Sr. Management &amp; Work Ethics<\/td><td class=\"has-text-align-right\" data-align=\"right\">4<\/td><td>Well experienced promotors. No red flags as per the RHP &#8211; litigations, open criminal proceedings, tax proceedings, etc.<\/td><\/tr><tr><td>Company Financials<\/td><td class=\"has-text-align-right\" data-align=\"right\">3<\/td><td>Inconsistent numbers, Very low PAT. High debt component.<\/td><\/tr><tr><td>Segment Growth Opportunity<\/td><td class=\"has-text-align-right\" data-align=\"right\">3<\/td><td>No moat and highly competitive business. Moderate growth is expected for the sector.<\/td><\/tr><tr><td>Asking Valuation (compared with Peers)<\/td><td class=\"has-text-align-right\" data-align=\"right\">3<\/td><td>Asking PE is ~16x, peers in the range of 12-80x. Considering the financials, the asking valuation is high.<\/td><\/tr><tr><td>Lead Manager&#8217;s past performance<\/td><td class=\"has-text-align-right\" data-align=\"right\">1<\/td><td>Had just one prior listing, which was at a discount of 24%.<\/td><\/tr><tr><td><strong>Consolidated Score<\/strong><\/td><td class=\"has-text-align-right\" data-align=\"right\"><strong>2.9<\/strong><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Disclaimer <\/strong>&#8211; This is not an investment advice. Nobody has paid us to write this review. This analysis is for education purposes only.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Baba Food Processing is an agro-food manufacturing company. The company manufactures a range of products including Whole Wheat Atta (Wheat Flour), Refined Flour (Maida), Tandoori Atta, and Semolina flour (Sooji). IPO Review Parameters Score (0-5) Comments Promotors\/Sr. Management &amp; Work Ethics 4 Well experienced promotors. No red flags as per the RHP &#8211; litigations, open [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[9],"tags":[11,12,10],"class_list":["post-224","post","type-post","status-publish","format-standard","hentry","category-iporeview","tag-ipo","tag-review","tag-sme"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/posts\/224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/comments?post=224"}],"version-history":[{"count":2,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/posts\/224\/revisions"}],"predecessor-version":[{"id":226,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/posts\/224\/revisions\/226"}],"wp:attachment":[{"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/media?parent=224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/categories?post=224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smemitra.com\/index.php\/wp-json\/wp\/v2\/tags?post=224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}