Brokerage houses have largely given the IPO a ‘Subscribe’ rating. Anand Rathi noted that at the upper price band, the company is valued at a P/E of 38.1x FY25 earnings, with EV/EBITDA of 24.8x, suggesting fair valuations. They recommended ‘Subscribe-Long Term.’
BP Equities also endorsed the issue, citing expanding margins and industry potential, while SBI Capital Securities, Canara Bank Securities, Nirmal Bang, DRChoksey, Adroit Financial, and Venture Securities echoed similar positive views.
