AgenciesNew Delhi: The 800 crore IPO of SJS Enterprises received 51 per cent subscription on Day 2 of the bidding process on Tuesday.
According to the data from National Stock Exchange (NSE), the issue garnered bids for 53,87,877 equity shares as of 5:00 pm against the total issue size of 1,05,46,140 equity shares.
The issue, which kicked off on Monday, received 32 per cent subscription by the end of the day.
SJS Enterprises is among the three issues that hit the primary market in the holiday-shortened week. PB Fintech and Sigachi Industries are the other two issues that opened for subscription on Monday.
Majority of analysts are positive on the issue, thanks to its solid track record, robust portfolio, strong relationship with top tier clientage and supply chain network.
"At the higher price band of Rs 542, SJS is demanding a P/E multiple of 31.7x, which seems to be on the higher side. Thus considering the above observations we assign a “Subscribe with Caution” rating for the issue," said Choice Broking.
Meanwhile, Marwadi Shares and Finance, which has a 'subscribe' rating on the issue, said that considering the FY-21 adjusted EPS of Rs 15.69 on the post-issue basis, the company is going to list at a P/E of 34.54 with a market cap of Rs 16,497 million.
SJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country. The company is selling its shares in the range of Rs 531-542 apiece.
According to the data from National Stock Exchange (NSE), the issue garnered bids for 53,87,877 equity shares as of 5:00 pm against the total issue size of 1,05,46,140 equity shares.
The issue, which kicked off on Monday, received 32 per cent subscription by the end of the day.
SJS Enterprises is among the three issues that hit the primary market in the holiday-shortened week. PB Fintech and Sigachi Industries are the other two issues that opened for subscription on Monday.
Majority of analysts are positive on the issue, thanks to its solid track record, robust portfolio, strong relationship with top tier clientage and supply chain network.
"At the higher price band of Rs 542, SJS is demanding a P/E multiple of 31.7x, which seems to be on the higher side. Thus considering the above observations we assign a “Subscribe with Caution” rating for the issue," said Choice Broking.
Meanwhile, Marwadi Shares and Finance, which has a 'subscribe' rating on the issue, said that considering the FY-21 adjusted EPS of Rs 15.69 on the post-issue basis, the company is going to list at a P/E of 34.54 with a market cap of Rs 16,497 million.
SJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country. The company is selling its shares in the range of Rs 531-542 apiece.
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