- Big positive is cheap valuation. Basis FY 2022, P/e is 10.7 and basis H1 FY 23, P/e is 4. - Me too sort of business. Nothing great. low ebidta margin is not surprising either. - Unsustainable level of debt. Rs. 40 crore debt with EBIDTA of ~ 6 crore. high default risk. One of the loan includes Rs. 7.91 crore from Aditya Birla Housing Finance which is secured by a plot owned by directors of the company. Loan is repayable in monthly installments and carries interest of 10.4%. Not sure whether this loan for business or for the benefit of director and taken on the books of company. - Overall, because of cheap valuation and smaller size should give decent listing gain. however wont recommend to hold. Apply karo, mila to listing pe becho aur khush raho :)
Interesting ipo iam going to apply here and if got allotment I will hold for some days till next results atleast
29. SSingh| Link| Bookmark|
March 10, 2023 10:28:39 AM
IPO Guru (1400+ Posts, 800+ Likes)
Keep an eye on GMP and subscription figures ans then apply on last day. I donβt have confidence in the company. If subscription figures and GMP are exceptionally awesome then will apply for LISTING GAINS ONLY. AND WILL SELL IN PREOPEN.