Quadrant Future is coming with upper price band of Rs 290 per share and that means a PE of ~59 (at its FY24 EPS of 4.9), which seems expensive when compared with listed peers
-Higher debt to equity ratio is a concern for this firm with currently small scale. Company is betting too much on revenue growth anticipated from Kavach project which could materialize well or could fail as well
My take is to avoid the IPO as the promoter are not leaving much for the investors for listing gains. However we could revisit this stock for long term investment after its yearly results to check what revenue finally the company generates from Kavach project and how the order book is built for coming years
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