ECGC expects listing process to complete by Q4 The initial public offering (IPO) process of state-owned Export Credit Guarantee Corporation (ECGC) is expected to be completed by the last quarter of the current financial year, chairman and managing director M Senthilnathan said. The Department of Investment and Public Asset Management (DIPAM), which is overseeing the listing process, had told ECGC that the process would start after the LIC public issue. While ECGC is awaiting further instructions, the DIPAM has carried out the initial review of the company, Senthilnathan said at the launch of the enhanced export credit risk insurance cover to smaller entities. The scheme will be offered by State Bank of India, which avails of export credit to the tune of Rs 25,000 crore from ECGC and has a base of 3,000 exporters, Senthilnathan said.
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.