Category: SME

Source: SEBI Annual Report 2017-18

Source: DRHP Filings of SM Gold Ltd

The Financial statements in the DRHP shows financial results from 2015 onwards even though the company was formed in 2017 and merged with a proprietorship firm on Aug 2018 ! (This month itself !)

The explanation is given below:

At this rate, any entity can get listed on the SME exchanges with the flimsiest of financial manoeuvres.

Have half a mind to suggest to Paramesha sandwich walla -who has a food stall on the street right below BSE- to go for a SME listing !

Amusing to see loss making companies getting listed on the BSE SME platform and the reasons given for their valuations.

Source: DRHP Filings of Salebhai Internet Ltd

Silly Monks Enterainment Ltd is a Hyderabad based Entertainment & Media Company with main focus in Digital Media Publishing.

It raised around 15 Crores via an IPO and got listed in Jan 2018 on the SME platform of NSE.

While raising funds from investors, it mentioned the following:

Yesterday the Company issued a press release that it is now playing the role of an angel investor and is investing in startups, unrelated to it’s core business !

Reminds me of the old Wall Street Saw “All hat and no cattle”

Source: DRHP Filings of Affle (India) Ltd