HEM Securities has come out with its report on Capacit'e infraprojects , The research firm has recommended to “ Subscribe ” the IPO in its research report as on September 11, 2017
Capacite Infraprojects is a fast growing construction company focused on Residential, Commercial and Institutional buildings. It provide end-to-end construction services for residential buildings (“Residential”), multi level car parks, corporate office buildings and buildings for commercial purposes (collectively, “Commercial”) and buildings for educational, hospitality and healthcare purposes (“Institutional”). Co’s capabilities include constructing concrete building structures as well as composite steel structures. Co also provide mechanical, electrical and plumbing (“MEP”) and finishing works. Co predominantly operate in the Mumbai metropolitan region (“MMR”), the National Capital Region (“NCR”) and Bengaluru. Co’s operations are geographically divided into MMR and Pune (“West Zone”), NCR and Pat-na (“North Zone”) and Bengaluru, Chennai, Hyderabad, Kochi and Vijaywada (“South Zone”).Co intends to raise funds for funding working capital requirements worth of Rs 250 Cr & purchase of capital assets (system formwork) worth of Rs 51.95 Cr.Valuation
Co is bringing the issue at price band of Rs 245-250/share on post issue FY17 eps at p/e multiple of approx. 24.37 .
Co’s large order book of Rs 46024.76 million gives strong reve-nue visibility. Also co has posted phenomenal growth in its finan-cials with more than 70% CAGR from FY14 to FY17 in its topline & bottomline, thus making issue attractive one to deploy the funds in. Hence we recommend "Subscribe" on issue.
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