Provogue IPO

So provogue is finally out with its IPO. Lets look at the financials
of this company.

Debt Equity ratio is 0.77

PAT = Rs 7.2 crore
No. of equity shares = 1,61,97,608
EPS = Rs 4.47

Band price of IPO: Rs 130 to Rs 150

PE ratio is 29.08 – 33.56

Growth rate of the apparel market: 13%

PE Ratios of other companies in apparel market.
Madura Garments
Raymond

Company	Price	EPS	PE Ratio
Madura			19.70	(got from the site)
Arvind Mills	139	3.75	37.07
Raymond	351	9.82	35.74

They say that this PE ratio is too high for an expected growth rate of 13%. However, I find that Arvind Mills and Raymond have quite high PE ratios. But we need to accept that they had their IPOs quite some time back.