Co is one of India’s largest 3PL solutions providers in the Indian logistics industry which was estimated at ₹6.40 trillion in Fiscal 2017, according to the CRISIL Report. Co operate in two distinct business segments, SCM and PTS. In SCM Business, co offer customized and end-to-end logistics solutions and services including transportation and distribution, warehousing, in-factory logistics and value added services to its clients. In PTS business, co provide technology-enabled people transportation solutions and services across India to over 100 domestic and multinational companies operating in the IT, ITeS, business process outsourcing, financial services, consulting and manufacturing industries.
Co is bringing the issue at price band of Rs 425-429/share on post issue annualized Q1FY18 eps at p/e multiple of 50.Co being the Mahindra brand, operates an “asset-light” business model has presence across diverse industry verticals with long-standing client relationships. However on valuation front issue looks bit expensive. Hence ,we recommend " Subscribe" on issue for long term.
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