Hii
I am giving some clarity as per my knowledge
1] nuvama wealth and investment limited is a subsidiary of nuvama wealth it is in the broking business
2] The above fair share entitlement ratio done by PwC take it as a reference it can differ
EFSL 94.3 crs shareholders will receive 1.05 crs shares [DO THE MATH] PAG stake 55.6% is promoter stake remaining is public
3] 980rs can’t be the price as it is not out listed
4] WM equity is around 2100crs even if you take 16- 18% ROE PAT will be 340-370crs currently if go by the run rate it will be 275- 280crs [ low due to opex is high 25 -30%than normal] I think after q4 23 it will be normalized if we go by current PAT estimate 275 * 20PE = 5500 -5600crs market cap p/b= 2.6 if
we compare it with 360 alone WAM p/b = 5.4, pe = 24-25[ bcz of superior quality of businesses no securities business in it ]
nuwama wealth can get 3.5- 4 p/b or more as earning quality improves and management will look to demerger it close to 7500crs market cap
PLS DONT TAKE IT AS A BUY OR SELL RECOMMENDATION
THESE ARE MY PERSONAL VIEWS I COULD BE WRONG
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