Have followed private market transactions in same field
Co.s Got less than 1x multiple by investors
2nd there is not moat, I’m sorry but your analysis is off by a huge factor,
The co. Switches hiring agency as it’s not a regular business for them but allied to your regular business, no switching cost TBH
Completely commodotized business,
In a country of 1.5 billion your Manpower can’t be your differentiating factor
There are other billion people ready to work against you at a competitive salary
Also monitor growth
Co. Undergoes IPO just after tremendous growth😃
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