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淐onsidering the FY21/FY22 (Annualised) EPS of Rs 11.64/Rs 15.50 on a post-issue basis, the company is going to list at a P/E of 28.00x/ 21.03x with a market cap of Rs 6,617 mn whereas its peers namely Jindal Saw and Ratnamani Metals & Tubes are trading at P/E of 5.99x and 31.74x,鈥 said analysts at Marwadi Financial Services. The brokerage had an 鈥楢void鈥 rating on the issue as the company has negative operating cash flows and geographic concentration of revenues. Holding similar views on valuations, analysts at Anand Rathi had earlier said that when compared to its listed peers, Venus seems to be richly priced. Anand Rathi had an Avoid Rating on the issue.

Analysts at Hem Securities, however, had positive views with a 鈥楽ubscribe鈥 rating. 鈥淐ompany is bringing the issue at price band of Rs 310-326 per share at p/e multiple of 21x on 9 Months FY22 EPS basis. Company with international Accreditations and product approvals is specialized in production of Stainless-Steel Pipes and Tubes with multi-fold demand of its Products & Customer Diversification.Hence we recommend 鈥淪ubscribe鈥 on issue,鈥 Hem Securities had said earlier.

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夜上海MPC