Analytics Firm eClerx To List On Monday; Expected Price Above Rs 400
eClerx Services Ltd is India’s first pure play analytics firm to come up with an IPO. The firm’s shares will start trading from Monday, December 31. The company has fixed the issue price at Rs 315 (the upper end of the price band of Rs 270-315). At this price, eClerx will be valued 16.6 times its first cut FY08 EPS estimate of Rs 19, according to broking outfit Prabhudas Lilladher. While other listed outsourcing firms are trading at about 20 times.
CNBC TV18 today reported that the issue will probably get listed at around Rs 400 or above as there is some interest in the stock in the grey market.
eClerx Services provides data analytics, operations management, data audits, metrics management and reporting services from its delivery centre in Mumbai. It caters to the retail, manufacturing and financial service verticals.
eClerx recorded revenues of Rs 86 crore ($21.8 million) in the last financial year ended March 2007, while its profits stood at Rs 40.5 crore. The company has raised about Rs 100 crore from IPO, a part of which will be used for acquisitions.
Related:
eClerx Files For India’s First IPO By A KPO Firm; To Raise Rs 101 Crore
