01-01-1970 12:00 AM | Source: Swastika Investmart Ltd
Pre-listing comment on Shriram Properties IPO By Mr. Aayush Agrawal, Swastika Investmart Ltd
Below is the Pre-listing comment on Shriram Properties IPO By Mr. Aayush Agrawal, Sr. Analyst, Swastika Investmart Ltd
Although the company has a strong brand name in South India, during COVID when real estate was booming, they suffered losses. Sriram Properties has an MCAP/Sales ratio of 4.6x while its peers Sobha, Puravankara, and Prestige offer 3.8x, 3.3x, and 2.4x respectively. The grey market premium currently trades between 8-10%, but given the current market conditions, we might see a comparatively weak listing.
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