Subscribe to A2Z Maintenance for listing gains: BP Equities

MUMBAI: BP Equities has advised investors to ‘Subscribe’ to the initial public offering of A2Z Maintenance & Engineering for listing gains.

The company has entered the capital market with public issue of 45.56 lakh shares in the price-band of Rs 400-410. The issue closes Friday.

“At the current offer price the stock appears expensive with a P/E of 23.15 and 23.73 at the lower and upper band respectively as compared to other players in the sector.

Currently there is immense competition in the industry leading to margin pressure at least for the coming 2 to 3 quarters. We recommend investors to apply for listing gains,” the report said.

Apart from engineering, procurement and construction business A2Z Maintenance & Engineering is engaged in renewable power generation, municipal solid waste management services, providing facility management services and developing IT services for power utilities.