3942 Investors following Persistent. Share this News with them.
0
Like this story, share it with millions of investors on M3
Consider Persistent IPO for long term: RR Financial
RR Financial Consultants has come out with a research report on Persistent Systems' IPO. The broking firm says, investor with longer time horizon can consider this issue.
RR Financial Consultants has come out with a research report on Persistent Systems' IPO. The broking firm says, investor with longer time horizon can consider this issue.
The initial public offering (IPO) of Pune based software product development company opened for subscription. The company will raise around Rs 157.17-168 crore at price band of Rs 290-310 per equity share via 54,19,706 equity shares issue.
The report says, "A strong outsourced software-products development player, considering the company's strong performance in key operating metrics and its sound positioning and growth prospects of the segment where it operates. At Rs 310 (upper end of the price band), the share would trade at 12 times its likely 2009-10 per-share earnings on a post-offer equity base. This is at a discount to mid-tier IT companies such as InfoTech Enterprises, Sasken Communications and KPIT Cummins, which are partly comparable to Persistent Systems as being a pure OPD product company has no listed peers. Investor with longer time horizon can consider this issue."
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
