Investors with long term horizon may ‘apply’ at upper band:Bonanza
Brokerage Bonanza has advised investors with long term horizon may apply at upper band.
By ET Bureau |
MUMBAI: Brokerage Bonanza has advised investors with long term horizon may apply at upper band.
“Cox & Kings business can be broadly categorized as Leisure Travel, Corporate Travel, Forex and visa processing. It designs travel packages for both individuals and groups for their domestic and international leisure travel.
The company is likely to raise upto Rs 510 crore (1.545 crore shares at Rs 330per share at upper band) from the IPO. It plans to spend proceeds for repayment of loans, acquisition & other strategic initiatives, investment in overseas subsidiaries and investment in corporate office & upgrading existing operations.
“CKI is among the largest Tour & Travel solutions company. The IPO is at discount to the nearest comparative peer. Given the high potential in India’s T&T industry, Investors with long term horizon may apply at “Cut Off”/Upper band of Rs.330/share,” the brokerage said.
“Cox & Kings business can be broadly categorized as Leisure Travel, Corporate Travel, Forex and visa processing. It designs travel packages for both individuals and groups for their domestic and international leisure travel.
The company is likely to raise upto Rs 510 crore (1.545 crore shares at Rs 330per share at upper band) from the IPO. It plans to spend proceeds for repayment of loans, acquisition & other strategic initiatives, investment in overseas subsidiaries and investment in corporate office & upgrading existing operations.
“CKI is among the largest Tour & Travel solutions company. The IPO is at discount to the nearest comparative peer. Given the high potential in India’s T&T industry, Investors with long term horizon may apply at “Cut Off”/Upper band of Rs.330/share,” the brokerage said.
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