Choice Equity has come out with its report on IndiaMART InterMESH. The research firm has recommended to "Subscribe'' the IPO in its research report as on June 21, 2019
E-commerce firm IndiaMART InterMESH Ltd. (IndiaMART), is planning to raise up to Rs. 4,760mn through an IPO, which will open on 24th Jun. and close on 26th Jun. 2019. The price band is Rs. 970 - 973 per share.
• The issue is fully OFS, thus the company will not receive any proceeds from it.
Valuation and Outlook
There is no listed entity in India comparable to the business profile of IndiaMART. At the higher price band of Rs. 973 per share, the company’s share is valued at a TTM P/E multiple of 139.7x (to its restated TTM EPS of Rs. 7)
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