Avoid Investing in #IPO of #IndoFarm Equipment due to expensive valuations
Indo Farm is coming with upper price band of Rs 215 per share and that means a PE of >50, which seems expensive when compared with listed peers which are trading below 47 PE
Higher debt to equity ratio and lower net profit margin does not support the valuation which the company is asking.
My take is to avoid the IPO as I don’t expect much listing gains. And prospects of rising share price after listing at this valuation is dim