At the risk of digressing a bit from the topic, can you just shed some light on why you decided to enter Motilal Housing at a P/B of 6.89. I understand in the future listing gains and everything will come into picture but right now since Bajaj Housing is floated for a 3.2 P/B that itself is much higher compared to other entities in the sector (most are below 2). The IPO frenzy may result in Bajaj being listed at a P/B of 6.4 maybe but considering the housing sector do you think this is sustainable, or you have some other thoughts?
Two things may happen from here onwards, either Bajaj Housing will fall after certain period of getting listed or other NBFCs will get rerated and may rise up. I maybe massively out of line on this but just want to understand your underlying logic of going with Motilal Housing.
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