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PNC Infratech - IPO to Invest or Not - A Tech Update

We would like to inform you that PNC Infratech Limited is coming up with its public issue of equity shares aggregating upto 4,884 Mn from May 8, 2015.
  • Issue Opening: May 8, 2015
  • Issue Closing: May 12, 2015
  • Issue Size: Upto 4,884 Mn
  • Price Band: 355 - 378 per share
  • Minimum Bid Lot: 35 shares (and in multiples of 35 shares thereafter)
Business Overview
  • An Indian infrastructure construction, development and management company, with expertise in the execution of major infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways, development of industrial areas and other infrastructure activities.
  • Provides EPC services on a fixed-sum turnkey basis as well as on an item rate basis for various infrastructure projects.
  • Also executes projects on a BOT (including on a DBFOT basis), operate them during the concession period on toll or annuity basis and subsequently transfer the projects, also entered into a project on an OMT model in 2013.
  • The Company has executed 42 major infrastructure projects on an EPC basis, acquiring experience particularly in the timely execution of EPC contracts since its incorporation.
  • An established track record in executing large construction projects particularly in roads and highways, power transmission lines and airport runways sectors.
  • Currently executing 23 infrastructure projects on an EPC basis of which one project is being executed with joint venture partner.
So far, this year, five companies — UFO Moviez India, MEP Infrastructure Developers, Inox Wind, Adlabs Entertainment and Ortel Communications — have tapped the IPO route to raise funds.

Verdict

High risk traders can invest in the stock as its issue price is on the higher side and is raising money at the top end of the price band almost equivalent top P/E of 30 at which Ashoka Buildcon is trading.

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