Hindustan Aeronautics IPO Note: Robust order book; Subscribe

Hem Securities | March 16, 2018, 3:55 p.m.

Valuation: The co is bringing the issue at p/e multiple of 15.4-15.8 on FY17 eps at price band of Rs 1215-1240/share. Co with its long credible history of research, design and development, manufacturing and maintenance has established track record in offering product life cycle support extending to periods beyond four decades. Also, co enjoys leadership position in the Indian Aeronautical industry coupled with robust order book. Hence, looking after all this we recommend “ Long term subscribe ” on issue.

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