Prince Pipes and Fittings Private IPO Review by TradingBells
Prince Pipes IPO has been timed perfectly as the markets have witnessed strong listing for recent IPOs. However, not all the IPOs offer the best value for money. A review for Prince Pipers by TradingBells follows....
Prince pipes is a Mumbai based leading polymer pipes and fittings manufacturer which is expanding its business in different geography of India. If we look at financials then there is decent revenue growth of 10% CAGR whereas 30% CAGR growth in profit for the last four years.
If we talk about valuation then at upper price band it is coming with trailing PE of 19 where its peer Astral poly is trading at PE of 70 while Finolex Industries is trading at PE of 20 and the average PE of the industry is around 40, So we can say that Prince pipes IPO is fairly priced. It is pure play of Infra and real estate sector whereby looking growth opportunities in India for this sector, one can subscribe it with long term view while listing gain may depend on HNIs' subscriptions.