Outlook on Ami organics Limited IPO by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote and Outlook on Ami organics Limited IPO by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Based on FY2021 numbers, the IPO is priced at a Price to Earning of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO, which is on the higher side compared to the listed peer group. Company already has a higher market share of 70%-90% in Key API’s which will limit growth in near future. Given the expensive valuation, we are assigning a NEUTRAL recommendation to the Ami Organics Limited IPO.
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