No Way. Last Financial Year (2017-18), profit jumped 3x times of previous year. Something fishy, or else strange so brilliant management that shifted 2016 profit 3 folded in 2017 before IPO launch in 2018. And smartly this IPO is for repayment of loan too. I like to invest in bank from which they have taken loan.
@ Ashvini, Net profit jumps 3x 4x 5x just before ipo, is a very common phenomena in SME. This is called financial dressing. This is done to justify valuation. Never consider current year/half year net profit figure into consideration while valuing SME.This is common practice in sme, 95% companies does this to justify valuation.