MUMBAI: Shares of India Pesticides Ltd made a steady stock exchange debut on Monday. The stock listed at ₹350, an 18.24% premium to its issue price of Rs296 a piece. Proceeds from the public issue will be used to fund working capital requirement, with the balance reserved for general corporate purpose. The issue is reasonably valued at 25.3 times FY21 price to earnings on post issue basis, vis-à-vis peers, while it enjoys higher return on equity (RoE) of 36%," Motilal Oswal Financial Services said. Analysts at ICICI Direct said the issue is available at 25.3 times FY21.

Source: Mint July 05, 2021 04:41 UTC