Public Issue 'Avoid' Recommendation Due to Financial Setbacks and Unfavorable Valuations

Shivani Nyati, Head of Wealth at Swastika Investmart, assigned an 'avoid' rating to the public issue, stating, "The company's financial performance has been underwhelming. It faced significant challenges in FY 2022-23, although there are some indications of recovery in FY24. However, the valuations of the public issue don't offer much potential for investors."