Yesterday we updated you regarding the Thangamayil Jewellery IPO opening for subscription from today, i.e. 27th Jan, 2010. Hem Securities has come out with a research report on Thangamayil Jewellery IPO (initial public offering). The research firm has recommended subscribing the issue.
The initial public offering (IPO) of Rs 28.75 crore has opened for subscription today. The price band for the issue is at Rs 70-75 per equity share. The issue will close on January 29.
Hem Securities report on Thangamayil Jewellery IPO:
The company is bringing the issue at price band of Rs 70-75 per share which will turn into P/E multiple of 5.65-6.06 at post issue EPS of Rs 12.37 (Basis PAT annualized 6 months ending 30.09.2009).The company’s topline has grown at a CAGR of 75% from FY05 to FY09 while bottomline of the company has gown at a CAGR of more than 100% from FY05 to FY09. Looking at the peers valuation, company’s issue price looks reasonable at present level. Hence, we recommend investor to Subscribe the issue.
Disclaimer: The views and investment tips expressed by Hem Securities on Equitipz.com are their own, and not that of the website or its management. Equitipz.com advises users to check with certified experts before taking any investment decisions.
To read the full report click on the attachment: Thangamayil – Hem.pdf
