India Pesticides IPO : The Rs 800 crore IPO of India Pesticides is opening for subscription on 23 June 2021. The company has fixed a price bank of Rs 290-296 per share. Under this public issue, new shares worth Rs 100 crore were issued. At the same time, the existing promoters will sell the stake worth Rs 700 crore. 50 per cent of the IPO is reserved for QIBs while 35 per cent is reserved for retail investors. 15 percent is reserved for non-institutional investors ie NII. Let us know what is the opinion of different brokerages and research firms about this IPO.
Anand Rathi Financial Services
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According to Anand Rathi, the IPO of India Pesticides is more attractive than its counterpart companies due to its lower valuation.
Reliance Securities
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The IPO is valued at 25.3 times FY21 earnings, as compared to the industry’s average multiple of 47 times. The growth prospects of India Pesticides are looking good. So you can invest in it.
BP Equities
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The financial performance of the company is good. The sourcing capacity is strong. The distribution network and the potential for further expansion are also better. BP Equities has subscribed rating of this stock.
Arihant Capital
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Arihant Capital has said in its IPO note that at an upper price of 296, the stock is trading at a multiple of 24.6 times. The brokerage firm says that the company’s ability to source raw material is good. It is well placed among its competitors in sourcing raw material at competitive prices.
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Hem Securities
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Hem Securities has a good view on India Pesticides. The brokerage company says that the balance sheet of the company is good. Patents are being removed from 19 chemical technologies next year. The company can get benefit from this. It has good manufacturing capacity.
(Stock recommendations in the story are based on information provided by research analysts and brokerage firms. Financial Express Online does not take any responsibility for any investment advice. Please consult your advisor before investing.)
(Article: Surabi Jain)
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