‘Subscribe’ to Oberoi Realty IPO: HEM Securities

MUMBAI – HEM Securities has recommended ‘Subscribe’ to the initial public offering of Oberoi Realty.

“The company is bringing the issue at price band of Rs 253-260 per share which will turn up into P/E multiple of 26-27 on post issue annualized EPS of Rs 9.72.

The company has posted strong financials from last few years. Apart from that, robust margins as compared to peers and debt free status of company makes it lucrative investment avenue. Hence we recommend investors to “Subscribe” the issue,” the report said.

The company has entered the primary market to raise Rs 1000.9-1028 crore by issuing equity share of face value Rs 10 each in the price range of Rs 253–260. The issue closes Friday.

The proceeds will be used for construction of ongoing projects & planned projects, acquisition of land & land development rights.