Home First Finance, Zen Technologies And TBO Tek Bulk Deal

Home First Finance Ltd.

Recent filing: (BULK DEAL) Orange Clove Investments, True North Fund V, Aether Mauritius sold 1.7 Cr shares of Home First Finance at INR 990/share, aggregating to INR 1,728 Cr. HDFC Mutual Fund, American Funds Insurance Series Capital Income Builder, Norges Bank, Global Citigroup Global Markets Mauritius, Goldman Sachs Fund, Prudential Hong Kong & Bofa Securities Europe bought 1.1 Cr shares at INR 990/share, aggregating to INR 1,110 Cr.

SUMMARY: 7y Operating Profit uptrend | 7q Operating Profit uptrend | PE 27.4x (Sector PE range: 20-40) | Institutional Entry | NBFC | Housing Finance

  • MCap of INR 9,377 Crore (share price = INR 1,049/ share) (as on 4th Dec ‘24)
  • TTM PE of 27.4x (as on 4th Dec ‘24) Retail float = 9.1% (Sep-24)

Question 1: Who are the promoters of Home First Finance?

Home First Finance Limited is a technology driven affordable housing finance company that targets first time home buyers in low and middle-income groups. It e primarily offer customers housing loans for the purchase or construction of homes. It offers mobility solutions through dedicated mobile applications for our customers to enable quick and transparent loan related transactions. We have an integrated customer relationship management and loan management system set up on a leading cloud based customer relationship platform providing us with a holistic view of all our customers.

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Zen Technologies Ltd.

Recent filing: (BULK DEAL) Promoter sold 20L shares of Zen technologies at INR 1801/share, aggregating to INR 360 Cr. Motilal Oswal Mutual Fund bought 11.1 L shares at INR 1800/share, aggregating to INR 200 Cr.

SUMMARY: 3y Operating Profit uptrend | PE 81.7x (Sector PE range 50-100) | Excellent Sep-24 results | Capacity expansion | Patent | New Products | Institutional entry | Fund raise | Orderbook INR 957 Cr as of (Sep-24) (1.2x of TTM Revenue) | Defence

FUTURE OUTLOOK: As per Q1FY25 Management guidance, Company targeting to exceed turnover of INR 900 Cr in FY25, 100% increase from FY24 | As per Q1FY25 Concall, Management assured that 35% EBITDA and 25% PAT to achieve in FY25.

  • MCap of INR 16,546 Crore (share price = INR 1,833 / share) (as on 4th Dec ‘24)
  • TTM PE 81.7x (as on 4th Dec ‘24) Retail float = 28% (Sep-24)

FOOD FOR THOUGHT: Company is exposed to risks in tender-based operations.

Question 1: Who are the promoters of Zen Technologies?

Incorporated in 1996, Zen Technologies designs, develops and manufactures combat training solutions for the training of defense and security forces. It is actively involved in the indigenization of technologies, which are beneficial to Indian armed forces, state police forces, and paramilitary forces.

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TBO Tek Ltd.

Recent filing: (BULK DEAL) FIIs (Augusta TBO Singapore, TBO Tek Korea Holdings) sold 63.8L shares of TBO TEK at INR 1,465/share, aggregating to INR 935 Cr. Mutual Funds (SBI, Axis, ICICI) bought 27.9L shares at INR 1,465/share, aggregating to INR 409 Cr.

SUMMARY: 4y Operating Profit uptrend | 3q Operating Profit uptrend | PE 76.2x (Sector PE range 50-100) | IPO | Institutional Entry | Tech Platform

  • MCap of INR 16,624 Crore (share price = INR 1,531 / share) (as on 4th Dec 2024)
  • TTM PE 76.2x (as on 4th Dec 2024) Retail float = 2.5% (Sep-24)

FOOD FOR THOUGHT: Debtor days is very high at 867 days.

Question 1: Who are the promoters of TBO Tek?

Company is one of the leading global travel distribution platforms, simplifying the travel business for both suppliers and buyers. Company suppliers include hotels, airlines, cruises, car rentals, transfers, and rail services. Company buyers consist of retail and API buyers such as travel agencies, independent travel advisors, and enterprise buyers including tour operators, travel management companies, online travel companies, super-apps, and loyalty apps.

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