Wednesday, September 30, 2020

Likhitha Infrastructure Ltd. IPO & Its Valuations

Likhitha Infrastructure Ltd  incorporated in 1998, is an oil & gas pipeline infrastructure service provider in India, focused on laying pipeline networks along with the construction of associated facilities. The company also provides Operations & Maintenance (O&M) services to the City Gas Distribution (CGD) Companies in the county. In the last 5 years, the company has laid over 600 km of oil and gas pipelines including steel and Medium-Density Polyethylene (MDPE) networks. The company has its presence in over 16 states and 2 Union Territories.

Here are some quick details about this offer:

Issue period: 29 Sep 2020 to 1 October 2020

IPO Size: Rs.61.2 cr

Price band: Rs.117-120

Bid lot: 125 shares

Retail Category: Not less than 35% of the net offer

Likhitha Infrastructure Ltd  has Net Sales / Revenue   of 87.00 Cr & Net Profit of 7.0 Cr in FY2018 ; Net Sales / Revenue   of 139.00 Cr & Net Profit  of 18.00 Cr in FY2019 and Net Sales / Revenue   of 161.00 Cr & Net Profit of 20.00  Cr in FY2020.

We have valued the Price of each share based on EPV method and its comes at X64.10 of its FY2020 earnings. Likhitha Infrastructure Ltd ‘s share is being offered at Huge Premium to its FY2020 Earnings at the highest offer price of Rs.145.00, which is justified with its High RoE of 28.4 in FY2020 ( 35.5  FY2019) and ROCE of 27.7.

Source : Various Media Reports and RHP of the company.

Disclaimer : We are / may going to take exposure shortly.

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The author tracks economic, behavioural and corporate tends, hoping to gauge good avenues of return based on Fundamental Valuations of Stocks, a follower of EPV method. You can reach me/us at | Twitter # NiftyNext1 |  e-Mail : Mail@NiftyNext.Com  |  Tel +91 8802230836  |  Telegram # TheNiftyNext   |

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