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Karda Constructions IPO Oversubscribed On Day 2

Karda Constructions IPO is Nashik-based construction company's attempt to scale up.

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Karda Constructions IPO Oversubscribed On Day 2

File photo. The P/E ratio of Karda Constructions is between 21.79 and 22.42.


Karda Constructions' IPO (initial public offering) is an attempt of Nashik-based company to scale up. The company started in 1994 with a professional approach in its area of expertise that is real estate development in Nashik. Through its constructions, the company has followed the concept of 'Group Housing'. Karda Constructions provides everything ranging from a 1 BHK flat to a penthouse or from row houses to palatial bungalows. The company boasts of several projects that include the ones from Maharashtra State Road Transport Corporation, Goa Housing Board and Goa State Urban Development Agency. Aryaman Financial Services Limited is the book running lead manager.

Karda Constructions IPO: Ten Things To Know

1. On the second day of IPO, Karda Constructions was oversubscribed 1.25 times on Monday. Total bids received are 53.59 lakh against the issue size of 43 lakh. The public issue will close on Wednesday.

2. The P/E ratio of Karda Constructions is between 21.79 and 22.42, for the lower and upper band, respectively. The industry's average P/E is 40.20 times.

3. The price band of Karda Constructions is between Rs 175 and Rs 180 per equity share.

4.The earnings per share for the fiscal 2017 is 8.03. For two preceding years, the EPS was 6.37 and 3.08 times.

5.The issue was opened for public on March 16 and will close on March 21.

6. The issue size is an IPO of upto 43 lakh equity shares comprising of a fresh issue of 23 lakh equity shares and an offer for sale upto 20 lakh equity shares.

7. The bid lot is 80 equity shares and in multiples thereof.

8. The floor price is 17.50 times of the face value and the cap price is 18 times of the face value.

9. The net asset value as at September 30, 2017 is Rs 35.87 while the NAV at lower end of the price band is 61.89 and 62.82 at the upper end of price band.

10. The basic and diluted EPS for the six month period ended September 30, 2017 is Rs 5.52.


 

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