FND potential IPO Valuation, page-4

I would also look at BLS E-services IPO at more than 60x P/E multiple and now trading at north of 190x P/E Current Market Cap is $660m our Findi Pay business is about 1/3 of the size at the moment based on the update last year.

I agree with your Existing business valuation excluding Digital but if the digital strategy is delivered on I see 2x more value from Digital meaning.

Existing business IPO valuation A$600m plus Digital Findi Pay of A$600m to A$1.2bn. Which would equate using your ownership percentages to $14-$21 per share.

I am incredibly biased and over weight in the stock so I am definitely glass half full on the further upside.

I see 10x from here over the next 24 months.

Good luck all!


https://www.icicidirect.com/ipo/ipo-news/ipo/bls-e-services-ipo-ends-with-stellar-subscription/1488058

https://www.chittorgarh.com/ipo/bls-e-services-ipo/1632/#:~:text=BLS%20E%2DServices%20IPO%20bidding,to%20₹135%20per%20share.

https://www.moneycontrol.com/india/stockpricequote/online-services/blse-services/BEL