About the Company:
CKP Leisure Ltd is a Company that is focused on the fast growing niche leisure market in India comprising of night clubs, fine dining restaurants, banquet halls, etc.Currently they operate one of the well known night club’s in Mumbai in the iconic Hotel Sahara Star.
Company launched a nightclub in the city on July 27th, 2016, by the name “SIRKUS”. The high-end nightclub “SIRKUS” boasts of a plush décor and electrifying ambience.It provides the guests with an unparalleled outdoor nightlife experience.
Being located at the iconic Hotel Sahara Star (Mumbai), the space spans 5,000 square feet and offers a dance floor, high-energy lighting, VIP bottle service and some of the best beats and entertainment.
Club SIRKUS aims to attract the night club goers by organizing different events over the week. These events enhance the night club experience of its guests and also increases the foot fall at the club.
In July 2015 Company had made an investment in a partnership firm named M/s. Athena Restaurant and Bar, and took over the operations and management of a restaurant and a night club named ‘Saizen’ and ‘Club Athena’ at Colaba in Mumbai. Both ‘Saizen’ and ‘Club Athena’ were not high ROI providers under the previous management. After Company took control over the restaurant and the night club its name was changed to ‘जा:pani’ (a Japanese cuisine restaurant) and ‘Club Alibii’ respectively.
Company operated the restaurant and night club and were successful in turning it around by reporting a turnover of Rs.6.27 crores and a PAT of Rs.1.16 crores in the financial year 2015-16.
In the year 2017 due to strategic reasons Company hived off this investment, and Company will continue to look out for such opportunities in the restaurant and night club business in Mumbai as well as other locations in India and make such strategic investments as and when feasible.
Further Company has recently acquired 14,542 sq. feet of property on lease from M/s. Atal Buildcon Pvt. Ltd at Pinnacle mall in Nashik where in they plan to setup and operate a banquet hall having a guest capacity of approx 500 persons.
Note: (Income Disclosure Scheme of the Income Tax Department)
CKP Leisure Limited, during the financial year 2016-17 has declared an undisclosed income of Rs.80.00 lakhs and has also deposited 25% of the undisclosed income aggregating to Rs.20.00 lakhs for a period of 4 years under the Pradhan Mantri Garib Kisan Yojana (PMGKY) Scheme.
The non-disclosure of income attracts a tax liability of 30%, plus a penalty of 10%, plus a surcharge of 33%. Further the non- disclosure of income may also attract penalty and litigations from other regulatory authorities. Management believes that the levy of taxes and penalty at such higher rates would affect the cash flows and the profitability of the company.
Management Team:
- Mr.Chanakya Dhanda (Designation: Chairman & Non-Executive Non-Independent Director)
- Mr.Prafulla Bhat (Designation: Non-Executive Non-Independent Director)
- Mr. Alay Waghani (Designation: Whole-time Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr. Chanakya Dhanda | 41,92,145 | 18.57 |
| Mr. Prafulla Bhat | 41,94,250 | 13.36 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake |
|---|---|---|
| Promoters | ||
| Mr. Prafulla Bhat | 50.01% | 30.04% |
| Mr. Chanakya Dhanda | 49.99% | 30.02% |
| Promoter Group Entities | Negligible | Negligible |
| Total | 100% | 60.06% |
Objectives of the Issue:
Offer for sale: (Around Rs. 7.8 cr)
- Company will not receive any proceeds of the Offer for Sale by the Promoter Selling Shareholders.
Fresh issue: (Around Rs.3.74 cr)
- Setting up of a Banquet Hall at Nashik.
- General Corporate Purposes.
- Offer related expense.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Setting up of a Banquet Hall at Nashik | 2.98 |
| General Corporate Purposes | 0.53 |
| Net Proceeds | 3.74 cr |
Peer Group Comparison:
CKP Leisure is primarily engaged in the business of running of night clubs with a focus on expanding our portfolio of leisure activities to include miniplex and banquet hall.
Currently there is no listed entity in India operating in this particular business segment with similar size, scale and business model and hence a we cannot make any comparison.
Financials of the Company:
| (in Crores) | FY 15 | FY 16 | FY 17 | 30th Nov 17 |
|---|---|---|---|---|
| Revenue | 0.0016 | 1.16 | 10.83 | 6.87 |
| Net Profit | 0.0008 | 1.07 | 1.65 | 0.94 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 21st February 2018 |
| Issue Closes on:. | 23rd February 2018 |
| Issue Price | Rs.30 |
| Face Value | Rs.10 |
| Minimum Lot | 4000 |
| Minimum Investment | Rs.1,20,000 |
| Issue Constitutes | 39.94% |
| Issue Size | Rs.11.54 cr |
| Market Cap | Rs.28.90 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 12,48,000 |
| Equity Shares Offered (OFS) | 26,00,000 |
| Total Equity Shares Offered (Fresh + OFS) | 38,48,000 |
| Equity Shares Prior to the Issue | 83,86,400 |
| Equity Shares after the Issue | 96,34,400 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 28th February 2018 |
| Initiation of Refunds | on or Before 1st March 2018 |
| Credit of Equity Shares: | on or Before 5th March 2018 |
| Listing Date: | on or Before 6th March 2018 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 2.42 | 12.40 | 12.03% | 18.07 |
Grey Market Premium :
| Date | IPO | Price Band | Grey Market premium |
|---|---|---|---|
| 17/02/18 | CKP Leisure Ltd | Rs.30 | NA |
Subscription Details: (21/22/23 February 2018)
| (Subscription-Category-Wise (no. of times) Till time : 06:00 PM) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| HNI | 18,24,000 | 0.66 | 0.71 | 1.11 |
| Retail | 18,24,000 | 0.14 | 0.66 | 2.10 |
| Others | 2,00000 | 0.00 | 0.00 | 0.00 |
| Employee | ——— | —- | —– | —- |
| TOTAL | 38,48,000 | 0.38 | 0.65 | 1.53 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Avoid | NA | NA |
| Check IPO Allotment Status: |
|---|
Bigshare Website (Click on the below link)http://www.bigshareonline.com/bssipoapplicationstatus.aspx |
| Company Contact Info: |
|---|
| CKP Leisure Ltd. 906, Jay Antariksh, Makwana Road, Marol Naka, Marol, Andheri East, Mumbai – 400059. Tel No: +91 –22 – 65014100 Email:info@ckpleisure.com Website: www.ckpleisure.com |
| IPO Registrar Info: |
|---|
| BIGSHARE SERVICES PVT. LTD 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059 Tel: +91 – 22 – 6263 8200 Email: ipo@bigshareonline.com Grievance Email: investor@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001 Tel No.: +91 – 22 – 6216 6999 Email: info@afsl.co.in Grievance Email: feedback@afsl.co.in Website: www.afsl.co.in |
