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Marwadi Shares and Finance view on Shriram Properties Limited IPO:

Considering FY21 EBITDA of Rs 512.44 million on post issue basis, the company is going to list at EV/EBITDA of 51.84 with the market cap of Rs 20,013 million.

While its peers namely Sobha Limited and Oberoi Realty limited are trading at EV/EBITDA of 15.60 and 33.00 respectively. We assign “Avoid” rating to this IPO as valuation is expensive as compared to its peers.