Prabhudas Lilladher: Subscribe to ICRA IPO

Prabhudas Lilladher, in a research report released on March 19, has asked investors to subscribe to the forthcoming IPO of ICRA.

The report said: "At the price band of Rs 275 "� 330, the stock is available at 16.1x and 19.4x its FY07 annualised earnings, respectively. This is a debt-free company, with an RoE of 19.1%, post-dilution. Considering ICRA's market share in the ratings business and its presence in high-growth areas like consulting and outsourcing, we recommend SUBSCRIBE to the issue."

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