Below are Views On Heranba Industries IPO Was subscribed 83.3 times by close of the issue due to attractive valuation - Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking
Heranba Industries IPO Was subscribed 83.3 times by close of the issue due to attractive valuation. NII was the highest bidder for the IPO, subscribing it by 271.2x, followed by QIB by 67.5x and retail investor category was lowest subscribed by 11.8x. Company has a robust past track record of performance. In the future, we expect Company to gain market share and improve margins. Company has priced its issue at 22.1x PE on a trailing basis, which is quite reasonable by looking at the future prospects of the Company. Company return ratios are superior to peers (ROE is above 30%). Company has a strong financial position and has been generating positive cash flow. We expect a good listing for the Company.
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