'Subscribe' to Gravita India IPO for listing gains: SBI Cap

SBI Cap Securities has advised investors to ‘Subscribe’ to initial public offering of Gravita India for listing gains. The company has entered capital market to raise between Rs 43-45 crore by offering shares in the price band of Rs 120-125 per share.

“Gravita India is currently valued at 11.7x and 12.2x of its FY10 earnings at lower and upper price band respectively. While comparing the company with its peers based on their trailing twelve months earnings multiples, Gravita India seems reasonably priced based on most valuation parameters. Hence we recommend investors to 'SUBSCRIBE' to the IPO for listing gains,” the report said. More Details

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