Hem Securities has come out with a research report on Pradip Overseas IPO. The broking firm has recommended subscribing to the issue.
The 1.06 crore shares issue of Pradip will close on March 15. The company plans to raise up to Rs 117 crore through the issue.
The report says, "The company is bringing the issue at price band of Rs 100-110 per share which will have P/E multiple of 5.92-6.51 at post issue annualized EPS of Rs 16.88. The company has business strategies like expanding its global presence, focussing on value added products such as quilts and organic cotton Home Linen Products and aiming to grow business in all its current markets i.e. India, Europe and North America and also intends to explore markets in Middle East, East Africa and Russia, to meet enhanced capacities. On valuation front, company seems to be reasonably priced at present levels. Hence we recommend investor to subscribe the issue."
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