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Total Transport IPO Review (Total Transport Systems Ltd)

Total Transport IPO Review

This week is going for the week of new initial public offerings as many small and medium-sized companies coming up with their issues in the SME exchanges. Mumbai based company Total Transport Systems Limited is one in this IPO list. In this post, I will discuss the pros and cons of the issue and will do an in-depth Total Transport IPO review.

Total Transport IPO Issue Details

  • The issue opens: July 25, 2017
  • The issue closes: July 28, 2017
  • Offer price: Rs. 45 per equity share
  • Issue size: Rs. 17.01 crores
  • Minimum application size: Rs. 1,35,000
  • Listing Exchange: NSE Emerge
  • Registrar: Bigshare Services (P) Ltd

About Total Transport Systems Limited

  • The company has been incorporated in 1994 and started its operations in Mumbai.
  • They are mainly engaged in cargos consolidation as well as deconsolidation in different countries of the far east and the gulf area.
  • The management team is comprised of Mr. Makarand Pradhan Prabhakar, Mr. Sanjiv Arvind Potnis and Mr. Shrikant Damodar Nibandhe.
  • The main features on the companies operations are their round the clock service, timely alerts, live tracking, mobile app, and strong IT infrastructure.
Total Transport Systems Limited

Company Financials:

The company has posted seen big losses in FY2016 as the decline in their topline. The standalone EPS for the last 3 financial years is -(2.01) and the consolidated EPS for the last 3 financial years is -(1.38).

Total Transport Systems Limited IPO

Pros For Total Transport IPO:

  • Years of experience – started operations in 1994.
  • Global presence.
  • The merchant banker has a good track record, last 8 IPOs out of 10 got listed at profit.

Cons For Total Transport IPO:

  • Promoters stake is priced as low as 10-20 paisa as compared to the issue price of Rs. 45.
  • The issue looks fully priced.
  • Topline and bottomline is still not stabilized.
  • Four years profits were wiped out by one single year’s loss in the FY2015-2016.

So the Total Transport IPO review rates this issue NEUTRALLY AVOID. However, risk savvy investors should once again use our closing day IPO choosing technique.

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