All Jan-24 options have expired. There’s 47.95m shares and I think there was about ~36.5m beforehand.
My basic valuation right now would be $25m EBITDA for FY24. At a 9x multiple for Indian listing (peers trading around this), that’s $225m. Findi own about 60% of TSI at the Indian IPO (~20% owned by local management and 20% to Piramal) so that’s a value of $135m or $2.80 a share at 47.95m shares.
I know Indian listing is a few years off so if they continue building up EBITDA over the time it will be worth a lot more. I just wanted to provide my rough valuation for now.
I also think FY24 will see a decent dividend!
FND $4 Party, page-82
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$4.70 |
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Mkt cap ! $229.3M | |||
| Open | High | Low | Value | Volume |
| $4.80 | $4.81 | $4.65 | $694.6K | 146.7K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2729 | $4.70 |
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| Price($) | Vol. | No. |
|---|---|---|
| $4.73 | 889 | 1 |
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