Become A Member Of S.J.S. Enterprises: Equity Brokerage Of Choice

S.J.S. Enterprises Ltd, a decorative aesthetics product company, is proposing an initial public offering (IPO) to generate Rs. 800 crore, which will take place on November 1st and expire on November 3rd, 2021. The share price range is Rs. 531-542, representing about 48.49 percent of the company's post-issue paid-up equity shares. The promoter now holds 98.86% of the company, which will be reduced to 50.37% following the IPO. The company's public share will increase from 1.14 percent to 49.63 percent. There are no rivals in the given space who are in the same line of work as SJS. SJS is asking for a P/E multiple of 31.7x (based on pro forma FY21 EPS of Rs. 17.1), which appears to be on the high side. The issue is rated "Subscribe with Caution."