As per their draft listing document submitted to Sebi, there is 1032972 option granted (mainly to two management person) at exercise price of Rs 41.5 and can be exercised within three years from date of listing. Usually stock options granted to lot of discount from real value of stock, so around Rs 50 can be safe level for new entry. Also i have observed in last financial year majority of sales and profit booked in last quater (Q4) while Q1 and Q2 results are usually very subdued so coming Q2 result on nov 9 may not be great thats why stock price is reacting negatively. Also management is clear that in next 1-5 years they are expected to book revenue of around 2500 cr which makes avg revenue per year of around 500 cr and PAT of around 75 cr which can easily support mcap of over 500 cr. Key risk may be once with initial setback in projects management may loose focus in the company.
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