GrowMoreInv IPO Review

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The company has posted good numbers in DRHP. The company's business is kind of unique and very few companies having this kind of business in big level. the company's cryogenic business can be used in space and defense also, if company explore this vertical too. Company have marquee clients and comes with reasonable P/E, ROE, and EPS. I will recommend to be a long term holder for 2 - 3 years, but one can definitely subscribe this for listing gain.

Avoid

Very Expensive IPO with FV of 1 INR.
Avoid such IPOs which have FV of less then 5 INR.

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Avoid

Number from 2019 is making eyebrows up. Total Revenue march ended 2019 is 1062.48 from where it gets PAT of 69.6. Then we look forward to march 2020 where total revenue decreased, assets decreased also borrowing decreased, it looks some one has got the money and left. then every time from march 2020 every quarter decreasing revenue, increasing PAT , looks like planning for IPO raise. its pure OFS. So, you can understand the situation.

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