Here are the Brokerage Reviews of
"Healthcare Global Enterprises Ltd IPO"ICICI Direct Analysts Siddhant Khandekar, Mitesh Shah and Nandan Kamat said
At the IPO price band of | 205-218, the stock is available at 3.6-3.8x of FY15 sales of | 519.4 crore. The asking price is in sync with recent deals in the healthcare segment. We recommend that investors SUBSCRIBE to the issue as it is a sustainable business model with good visibility.
Equitymaster has the following review,
Over and above, major shareholders like Premji investments, India Build Out Fund and Temasek are selling substantial portion of their holdings. These investors will also be booking fat profits at the given price band of Rs 205-218. Considering the risks involved and expensive valuations, there is little upside left for the shareholders. Taking into account these factors, we recommend investors to AVOID the IPO.
Aditya Birla Money has the following view,
Given its proven management background, niche segment of operations, strong expansion plans and opportunities present in the healthcare industry in India, we recommend “Subscribe”on HCG IPO for long term investors as the Company is on the course of aggressive expansion, benefits of which can be seen in the medium to long term period. However, given the vast demand-supply mismatch among the institutional investors considering the limited investment options available in the healthcare space, HCG may catch the fancy of investors on the listing day.
Monarch Capital Analysts Rohan J. Admane and Jason Soans has the following view,
We compared HCG’s valuation with leading hospital companies viz., Apollo Hospitals (Apollo), Narayana Hridayalaya (Narayana) and Fortis Healthcare (Fortis). As per Bloomberg Consensus estimates, average EV/EBITDA multiple of Apollo, Narayana and Fortis is at 20.9x and 16.9x FY17E/FY18E, which provides good scope for an upside to HCG’s share price post listing. We recommend a “SUBSCRIBE” to the initial public issue of HCG.
ZenMoney has the Following Review,
On valuation front, at issue price of Rs. 205-218, company is trading at a P/B of 5.11x to 5.43x to its Book value of Rs. 40.11, which makes the issue reasonably valued. Though the company’s valuations are below its’ peers, considering the short to medium term pressure on earnings, Investors’ can avoid now and can wait for a better opportunity in secondary markets.
