English
Specials
    Upgrade

    Moneycontrol

    Budget 2023Budget 2023

    PARTNERS

    • Tata AIA Life Insurance
    • Hafele
    • Motilal Oswal
    Register Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
    Budget 2023
    Budget 2023
    you are here: HomeNewsBusinessStocks

    Avoid to Uma Exports: Choice Equity Broking

    Choice Equity Broking has come out with its report on Uma Exports. The research firm has recommended to ''Avoid'' the ipo in its research report as on March 25, 2022.

    Broker Research
    March 29, 2022 / 10:18 AM IST
    IPO (Representative image)

    IPO (Representative image)

     
     
    live
    • bselive
    • nselive
    Volume
    Todays L/H
    More

    Choice Equity Broking IPO report on Uma Exports

    West Bengal based agri-commodity trader Uma Exports Ltd. (UEL), is coming up with an IPO to raise Rs. 60cr, which opens on 28th Mar. and closes on 30th Mar. 2022. The price band is Rs. 65 - 68 per share. The IPO only comprises of fresh issue of shares. From the net proceeds, Rs. 50cr will be utilized to augment the working capital requirement.

    Valuation and Outlook

    At higher price band of Rs. 68, UEL is demanding a P/E multiple of 18.9x (to its TTM earning of Rs. 3.6), which is at discount to only listed peer. Considering the lower trading margins, the business of the company doesn't seems to be sustainable. Thus we are assigning an “AVOID” rating for the issue.

    Read More Read More