Subscribe to Man Infraconstruction IPO:Hem Securities
Hem Securities has advised investors to ‘Subscribe’ to the initial public offering of Man Infraconstruction.
By ET Bureau |
MUMBAI: Hem Securities has advised investors to ‘Subscribe’ to the initial public offering of Man Infraconstruction.
The company has entered the IPO market with issue of 56,25,150 equity shares of Rs 10 each through a 100% book building route. The price band of the IPO is fixed at Rs 243-252. The issue closes Monday.
Man Infraconstruction, a construction company, has undertaken projects in the six states of Maharashtra, Kerala, Gujarat, West Bengal, Goa and Tamil Nadu. The company provide construction services for port infrastructure,
residential, industrial, commercial and road infrastructure projects.
“The company is bringing the issue at price band of Rs 243-252 per share which will turn into p/e multiple of 13.57-14.07 at post issue annualized consolidated EPS of Rs 17.91. Being in infrastructure space the company’s debt to equity stood at mere 0.04 in 9 months ending 31.12.2009. Also strong net profit margin of the company gives it an edge over its peers. With strong order book and reasonable valuation, the issue looks an attractive destination to deploy the funds in. Hence we recommend the investor to Subscribe the issue,” the report said.
The company has entered the IPO market with issue of 56,25,150 equity shares of Rs 10 each through a 100% book building route. The price band of the IPO is fixed at Rs 243-252. The issue closes Monday.
Man Infraconstruction, a construction company, has undertaken projects in the six states of Maharashtra, Kerala, Gujarat, West Bengal, Goa and Tamil Nadu. The company provide construction services for port infrastructure,
residential, industrial, commercial and road infrastructure projects.
“The company is bringing the issue at price band of Rs 243-252 per share which will turn into p/e multiple of 13.57-14.07 at post issue annualized consolidated EPS of Rs 17.91. Being in infrastructure space the company’s debt to equity stood at mere 0.04 in 9 months ending 31.12.2009. Also strong net profit margin of the company gives it an edge over its peers. With strong order book and reasonable valuation, the issue looks an attractive destination to deploy the funds in. Hence we recommend the investor to Subscribe the issue,” the report said.
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