Indian non-banking financial institution PTC India Financial Services' (PFS) initial public offering of 15.67 crore equity shares opened for subscription. KR Choksey has recommended subscribing the issue with long term view, in its research report dated March 15.
PFS is engaged in the business of making principal investments in, and provide financing solutions for, companies with projects across the energy value chain. Company aims to raise Rs 438.76 crore through the issue at higher end of price band of Rs 26-28 a share. It will close on March 18. KR Choksey believes PFS is reasonably priced at 1.54x of current book at the upper band and 1.43x at the lower band. "Though it is smaller player in comparison to its peers, there is enough headroom to grow in the near to mid term. We recommend subscribe with long term view however investors looking for listing gains may avoid the issue," KR Choksey explained. 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. To read the full report click on the attachmentDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
