BC IPO

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Anish Moonka
@AnishA_Moonka 4 years, 6 months ago 621 views

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Observing a lot of selling from employees of small & mid-cap IT companies; Recency bias or they know better?

A small mediocre IPO from the space got the attention of a superstar: Shuffling for a quick buck?

Haven’t the valuations baked in all positives?

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@AnishA_Moonka

Glenmark Life Sciences (GLS) IPO notes 🔬

Plans to take the capacity to 1762KL (currently 762KL) in the next 4 years.

Hit the 'retweet' & help us educate more investors

A thread 🧵👇

#IPOwithJST

1/ About the company

Developer & manufacturer of high value, non- commoditized APIs (complex & low competition) in chronic therapeutic areas: CVS, CNS, pain management & diabetes, etc

Basic details about the IPO 👇

Note: After paying off liabilities, 150crs remain for capex.

2/ The Journey

Established the API business in FY02

Since 2015, Have not received any adverse reactions from regulators (USFDA, PMDA) in the total 38 audits & inspections & Have gone through 432 customer audits.

Filled 403 DMFs & CEP registration across markets globally.

3/ Trends that the company is betting on & what works for them

China+1: India API market growth (10% cagr projected from FY21-26) will outpace the industry: Driven by specialty API+ Strong domestic market

Highest no. of USFDA approved API facilities & % of DMFs filled

4/ Interesting facts

- 120 molecules: $142B market size
- Targetting 8 to 10 new molecules every yr (Key differentiator over time)
- 66% of sales from regulated markets
- Works with 16 of the top 20 generic cos.
- Top 7 customers: 5 to 15yrs old

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@AnishA_Moonka

A thread on the snippets (paragraphs & quotes) from the book ‘Why We Sleep’ by Matthew Walker 💤

One third of our lives, better read about it.

This thread will be updated as I read further & further.

1/ “Two-thirds of adults throughout all developed nations fail to obtain the recommended eight hours of nightly sleep.”

Imagine if you don’t have that rare ‘short sleep’ genes 🧬 that allows you to do will less than 5 hours of sleep 🛌.

2/ It’s going to get ugly.

4/ Why to learn about sleep.

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@AnishA_Moonka

Where is Hikal heading in the next 5 years?

Explained judiciously by Mr. Sameer Hiremath in the Q4FY20 Concall.

Note: It will not be a smooth journey.

Anish Moonka
@AnishA_Moonka

What if I told you to submit your PhD report by the 1st year of your BTech in engineering.

That’s what people do when they try to find multi-baggers in their 1st business cycle.

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ᴀɴɪsʜ ᴍᴏᴏɴᴋᴀ...
@AnishA_Moonka

Commodity Supercycles.

Hit the 're-tweet' & help us educate more investors.

A micro thread 🧵👇

1/ What is a commodity supercycle?

They are near decade long periods where commodities trade well above their price trend

supercycles are rare

Going back 100 years, Only 3-4 supercycles have been identified & each was tied to a transformational period of economic development.

2/ A one-two year rally in commodity prices is NOT a supercycle, rather could just a rebound from an imp. event as what even happened after the 2008 great recession.

3/ Two commodity supercycles have occurred since the end of World War II.

The 1st started in the mid of 1960s & lasted through the 1970s.

Likely driven by a collapsing US dollar, higher inflation & 2 oil price shocks.

4/ Why US dollar is an important monitorable?

Raw materials are almost always priced in US dollars.

When the value of the dollar drops, it costs more dollars to buy commodities. At the same time, it costs a lesser amount of other currencies when the dollar is moving lower.

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ContrarianEPS
@contrarianEPS

zomato reports larger loss than previous quarter

analyst prepping for concall: sir, what is the reason for the loss with rebound in sales and expected operating leverage.

zomato: sorry we don’t hold concall

Amit Mantri
@amitmantri

Bull markets are a great time for fraudster promoters to make money. If you are a fraudster and also want to benefit from this bull market, here's a thread that explains how you can defraud shareholders and get rich.

1. Have a good story to catch investor's attention. Something like "only listed XYZ company" will help. Has zero value in terms of improving long-term cash flows of the business but is excellent branding for a stock. Change the name of the company to what's booming in the market

2. Draw analogies to D-Mart or other businesses that investors love (next Page Industries maybe?). Doesn't matter if your business is nothing like the ones you are comparing it with.

3. Give aggressive guidance. 15% growth is pedestrian. Talk stuff like 1 lakh cr sales/loan book or 50% growth for next 10 years. Your stock should be a potential multi-multi-bagger. Claim that there is no limit to how large you can be.

4. Start making up the numbers. Only Revenue and PAT matters. So don't worry if the Balance Sheet has all sorts of large unexplained scary stuff. No one looks at the BS in a bull market.

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R.K.
@ipo_mantra

BOOKMARK THIS MESSAGE

Causes of Rejection of Application in IPO:

-Never apply more than 1 appl
-PAN in Bank and PAN in Demat shd be same
-Never select Cut Off in HNI appl
-Always Select Cut Off in Retail
-Approve UPI mandate timely
-Demat shd be in Active mode

Anything else ?

Anurag Singh
@anuragsingh_as

#PayTmIPO – Long Thread:
There is a new game in town. The rules are “well laid out” by VCs – Report just 3 yr financials, blame flat sales since 2019 on covid, pick consultants to project fancy story, price IPO at 45 times sales, create scarcity of “limited offer” of 12% shares”

12% stake sale ~matches the “principal investment” by VCs. Oh, by the way, get some tranches of funding just before IPO that values your company closer to issue price. It’s like you buying your own house again for 2x price. May not work for you but somehow seems to work for VCs.

Now rope in mutual funds with 75% of this scarce offering (SIP money will go somewhere after all) & leave retail scrambling for 2.5% stake of a brand that is now a “household name”. Get brokerage firms & YouTube advisors to keep pumping story with same broken records from DRHP.

Vola ! You have launched a successful IPO. With principle off the table, you still have 88% ownership to be gradually transferred overtime to domestic mutual funds, riding on retail (other peoples) money.
They say “a fool & his money will always be parted”.

Everyone rewards excellence & those are rare. Internet is about winner takes all, where one or 2 players dominate the entire industry.
But who rewards mediocrity? Well, enter #PaytmIPO. If Infosys & TCS were a bet on excellence, Paytm is a bet on mediocrity. We’ll see how.

Charlie Mungerilal
@CMungerilal

I will never invest in Paytm, Policybazaar or Fino. Why?

What is their USP?
Convenience, Options and User friendly way to buy loan, wealth management and insurance products.

If you go to ICICI or Kotak app, it offers all the products with same USP. So there is no MOAT.

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The Eye of Horus. 1/*

I believe that @ripple_crippler and @looP_rM311_7211 are the same person. I know, nobody believes that. 2/*

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And smile XRP-eyed faces also appear related to Egypt. In particular, to the Eye of Horus. https://t.co/i4rRzuQ0gZ 5/*

Andrew Chen
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1/ new essay: What's next for marketplace startups? Reinventing the $10 trillion service economy, that's what. Co-authored with @ljin18 https://t.co/fgKbrHTnH5. A short thread 👇

2/ Marketplace startups have done incredibly well over the first few decades of the internet, reinventing the way we shop for goods, but have been less successful services. It's bc services are complex, subjective, fragmented, and often in real life. Makes it hard

3/ There's been 4 major eras at making the service economy work online. The Listings Era, the unbundled Craiglist era, the Uber for X era, and the Managed Marketplace era

4/ Each era has added more value than the last, and utilized technology innovations, from internet to social / "read/write web" to mobile. The "Unbundling Craigslist" era was particularly epic at generating startup ideas

5/ The problem is, all the low-hanging fruit has been picked off. The techniques that got us to here won't get us to the next phase. So we have to do some pretty different things. That's why "Managed Marketplaces" have been a big deal - hire folks as W-2s, certify quality, etc.

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Vibhu Vashisth 🇮🇳...
@VIBHU_Tweet

VEDIC COSMOLOGY, also known as Hindu Cosmology, and cosmography are both interesting and inspiring. Today’s “modern” Vedic texts originated around 3,000 B.C.E. This is the oldest scientific and the oldest religious doctrine known to the human race.

Our current astronomy of the solar system and universe has its roots in Vedic knowledge. It only shows that man had advanced knowledge of astronomy way before our current civilization came into existence.
We are here to talk about the Vedic version of the planetary system,

starting at the top from the eternal planets to the temporary planetary system within innumerable universes in the material world.

Talking about “cosmic manifestation,” we need to incorporate both spiritual and material existence.

The spiritual realm of the planets is everlasting, and this will forever be beyond what the material universe can encapsulate. The spiritual realm belongs to the “super dimensional” or “anti-material” dimension. It means that it is beyond what we can perceive,

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Dr. Jane Clare Jones
@janeclarejones

So, on the subject of bonkers hyperbolic pretzeling over the Bell judgement, Grace 'destroy books I don't like & make inappropriate jokes about sterilising teenage girls' Lavery has some thoughts.

Tell me why my feminism is wrong Grace.

Oh

Well, if anyone thought the Bell judgment was going to make TRAs reconsider making massively overblown claims with no evidence backed up with nothing but a thick wadge of emotional blackmail.... HAHAHA, no one thought that.

A high court in the UK made a delimited judgment about teenager's ability to consent to puberty blockers. This puts all trans people everywhere in the world at risk.

Because if any human anywhere has any thoughts that deviate in any way from the rote line dictated by

the trans rights movement, this puts all trans people everywhere in mortal danger.

Let's be honest Grace. It doesn't put trans people at risk. It puts trans ideology at risk. Because trans ideology depends on the idea of innate gender identity, and the trans child is the

necessary material evidence of the ontology of gender identity.

That is, children are being medicalised to provide evidence to underwrite adults identities.

Nothing to see here.

foone
@Foone

An interesting set of games that I've been vaguely interested in since I was a kid, after seeing one at a friend's house and never being able to find it again, was the BATTLES IN A DISTANT DESERT/BATTLES ON DISTANT PLANETS series.

These are turn-based wargames for windows 3.x, sharing the same engine.
Battles in a Distant Desert is from 1992, and is based on the first Iraq war (Desert Storm)

and Battles on Distant Planets is from 1991, and takes place in SPACE!
I'm pretty sure this is the one I played as a kid.

They've got 3 options to play with:
* Player vs. Player
* Player vs. Computer
* Computer vs. Computer

So it's a 0-2 player game!

They also did a DOS strategy game called "STARDATE 2140.2: GALACTIC CONQUEST" in 1990, but it seems to be lost.
All the games share an experimental AI system based on neural networks.