About the Company:
SecUR Credentials ltd is engaged in the business of Background Screening (also known as BGC – Background Check) and Due Diligence.
Company is headquartered in Andheri, Mumbai, with branch offices in Mumbai, Delhi, Bengaluru, Hyderabad and Chandigarh.
Company is a end-to-end screening services provider to various corporates in the country.
Company provides its services to various companies in Finance, Insurance, BFSI and the BPO/KPO and the Retail industry.
They are one of the very few India-based BGC (bakgroung Checking) companies to be a member of the prestigious US-based National Association of Professional Background Screeners (NAPBS), APAC (Asia pacific) Chapter, which is the umbrella body of the largest BGC companies around the globe.
Nipa Modi (Human Resource Business Vertical Head) has been made the Chairperson for the Global Advisory Council (GAC) Committee of NAPBS for the year 2017-2018.
As a result, Company has access to the NAPBS members not just for specialised / localised services, but also as a knowledge centre for best practices.
Company provides background screening services, for organisations not just in India, but across the globe through the NAPBS connections.
Company has also provided their service in countries such as US, UK, Philippines, Sri Lanka etc
Currently company can cover every PIN code of the country through their intricate hub and spoke model, which multiplies the geographies they cover through their branch offices.
Company has very aggressive expansion plans, for which they have already set up branch offices in locations like Guwahati, Lucknow, Chandigarh and Cochin, to be able to match the clients’ growth footprint.
In addition,company also intends to grow in the Asian markets, to match the global footprint of their existing clients.
Management Team:
- Mr.Pankaj Vyas (Chairman, Non-Executive and Non-Independent Director)
- Mr.Rahul Belwalkar (Managing Director)
- Mrs.Shibani Belwalkar (Executive Director and Chief Financial Officer)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Pankaj Vyas | 25,32,380 | 0.94 |
TOP 10 Shareholders:
| Sr.No. | Shareholder Name | Number of Equity Shares held | Percentage of Equity Share Capital % |
|---|---|---|---|
| 1. | Pankaj Vyas | 25,32,380 | 74.02 |
| 2. | Vaishali Vyas | 4,46,884 | 13.06 |
| 3. | Rahul Belwalkar | 2,05,288 | 6.00 |
| 4. | Shibani Belwalkar | 2,05,288 | 6.00 |
| 5. | Vijayaben Vyas | 10,529 | 0.31 |
| 6. | Urvesh Vyas | 10,529 | 0.31 |
| 7. | Mr. Pradeep Kumar Roy | 10,529 | 0.31 |
| Total | 34,21,425 | 100% |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake(%) |
|---|---|---|
| Promoter | ||
| Pankaj Vyas | 74.02 | 51.80 |
| Promoters Group Entities | 13.98 | 9.79 |
| Total | 88.00% | 61.59% |
Company’s Products and Services:
BGC – Corporate:
- Background screening of employees.
- On-boarding processes.
- Exit Management.
- Employee support service.
Due Diligence Services:
- Due diligence for Senior Management hires.
- Due diligence for partners suppliers.
- Due diligence for investments.
- KYC services.
SecUR Number:
- India’s first B2C background screening product.
- Allows individuals to self-certify their CVs.
- Shifts onus of responsibililty of clean resumes from employer to employee.
Company’s Competitive Strengths:
- Wide Range of Services.
- National player, with global footprint.
- Company’s process is ISO/IEC 27001:2013 certified.
- Focussing on long term revenue stream.
Peer Group Comparison:
- There are no listed peer group companies which are engaged in the business similar to SecUR Credentials Ltd, hence we cannot make any Peer Comparison.
Objectives of the Issue:
- Meeting Additional Working Capital Requirements.
- Expansion of Business Activities.
- Purchase of “SYMPHONY 3.0” Software along with Database.
- Marketing and Brand Building.
- General Corporate Purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Working Capital requirements | 9.00 |
| Expansion of Business Activities | 4.95 |
| Purchase of “SYMPHONY 3.0” Software along with Database |
7.28 |
| Marketing and Brand Building | 5.01 |
| General Corporate Purposes | 2.57 |
| Public Issue Expenses | 1.25 |
| Net Proceeds | 30.07 |
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 30th June 17 |
|---|---|---|---|---|---|---|
| Revenue | 1.37 | 0.71 | 00.15 | 4.40 | 10.16 | 5.89 |
| Net Profit | 0.0026 | 0.021 | (-0.086) | 0.016 | 1.8 | 1.24 |
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IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 1st November 2017 |
| Issue Closes on:. | 3rd November 2017 |
| Issue Price | Rs.205 |
| Face Value | Rs.10 |
| Minimum Lot | 600 |
| Minimum Investment | Rs.1,23,000 |
| Issue Constitutes | 30.01% |
| Issue Size | Rs.30.07 cr |
| Market Cap | Rs.100.21 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 14,67,000 |
| Equity Shares Prior | 34,21,425 |
| Equity Shares after the issue | 48,88,425 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 6.06 | 33.80 | 89.03% | 10.83 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long term | 15% |
