[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for H1 FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced, while based on its track records, it appears aggressively priced. Tiny equity capital post-IPO indicates longer gestation period for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review...

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