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Moneycontrol.com >> Messageboard >> Market View >> IPO, New Issues >> COX & KINGS Lukewarm Response
   You are here :     Moneycontrol     MMB    Market View      IPO, New Issues                         Most active discussions of 2006 , 2007 & 2008
COX & KINGS Lukewarm Response (17)   24-Nov-09 22:12Track this thread   Tracked by (0)  
Posted by:   amitkbaid1008 on ( 24-Nov-09 22:12 )
Cox & Kings India Ltd. got lukewarm response atleast by Retail Investors. Overall subscription was moderate at above 6 times but Retail Investors who got their fingers burnt in all IPOs from ADANI POWER...NHPC...IBPOWER... and today`s DEN... given lukewarm response to CNK despite being with good fundamentals. I think that Retail Investor will have to regret.

As far as valuation for COX & KINGS are concerned though they dont left very much on the table for investors but still it seems that the investors will get some thing from it. There are mainly two listed companies in this space THOMAS COOK and INTERNATIONAL TRAVEL HOUSE. THOMAS COOK is trading at PE of 50.16 and ITH at 12.83 with average of 42.26 giving Fair Value of Rs. 421 and on Market Cap to Sales basis THOMAS COOK is trading at 4.80x and ITH at 1.23x with average being 4.04x thus giving Fair Value of Rs. 184.29 overall Fair Value comes to around 303 with is not at much discount from its issue price of Rs. 330 like others.

It may not give any immediate listing returns but will give good returns.
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