Hem Securities has come out with its research report on Mahindra Holidays and Resorts India's initial public offering (IPO). Mahindra Holidays has opened for subscription with an IPO of 92,65,275 equity shares of Rs 10 each, at a price band of Rs 275-325 a share. The issue will close on June 26, 2009. Hem Securities is of the view that for the investment purpose due to high pricing, the research firm has recommended the investor to ignore issue.
Hem Securities’ report on Mahindra Holidays’ IPO:
The company at a price band of Rs 275-325 per share will have the p/e multiple of 27.02-31.93 at FY09 eps of Rs 10.18. Though the company with its strong brand name and reputed promoter base is well poised to cater financial markets but looking after the valuations of the company , issue looks overpriced at present level. However in January 2008, company has made pre ipo placement at Rs 479 of 16, 49,130 equity
shares and 8, 24,565 equity shares to SBI & Nylim Jacob Ballas India Fund III, LLC respectively. Hence high risk apetite investors can look at the issue for listing gains purpose. But for investment purpose due to high pricing, we recommend the investor to “Avoid” the 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.
Source : Moneycontrol.com
Hem Securities’ report on Mahindra Holidays’ IPO:
The company at a price band of Rs 275-325 per share will have the p/e multiple of 27.02-31.93 at FY09 eps of Rs 10.18. Though the company with its strong brand name and reputed promoter base is well poised to cater financial markets but looking after the valuations of the company , issue looks overpriced at present level. However in January 2008, company has made pre ipo placement at Rs 479 of 16, 49,130 equity
shares and 8, 24,565 equity shares to SBI & Nylim Jacob Ballas India Fund III, LLC respectively. Hence high risk apetite investors can look at the issue for listing gains purpose. But for investment purpose due to high pricing, we recommend the investor to “Avoid” the 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.
Source : Moneycontrol.com
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