Expert Warns Against Latest IPO Due to Weak Financials and High Valuation

Shivani Nyati, the Head of Wealth at Swastika Investmart, has assigned an 'Avoid' rating to this IPO, citing the company's disappointing financial performance. The firm incurred significant losses in the fiscal year 2022-23, with some indications of improvement in FY24. However, she believes the valuation of the public offering is not favorable for investors.