Monte Carlo IPO may attract investor interest: Way2Wealth

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Monte Carlo Fashions (MCFL) is one of the leading apparel brands in India which primarily caters to the premium and mid-premium branded apparel segment for men, women and kids. The Company offers a comprehensive line of woollen, cotton and cotton-blended knitted and woven apparel and home furnishings through its ‘Monte Carlo Exclusive Brand Outlets’ and MBOs, including a network of national chain stores under the ‘Monte Carlo’ brand.

Objects of the issue: The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges. The company will not receive any proceeds of the offer and all the proceeds will go to the Selling Shareholders.

Outlook & Valuations: At the offer price bands, the issue is available at P/E of 24.8x-25.3x its FY14 EPS of Rs 25.4. With factors such as strong brand value & distribution network, its diversification in non woolen segments and healthy balance sheet along with the recent good performance of share price of other textile companies in the secondary market, we think it may attract investor interest. Hence we recommend subscribe to this issue.

LINK
http://www.moneycontrol.com/mccode/news/article/article_pdf.php?autono=1243012&num=0