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empire owners cashed out much bigger but look at their opening price on listing. another example is betamek. mahathir son cashed out entirely and no new public issue. first day opened more than doubled
Pro:
DC, NETR trending
~100m order book
OCK might help
17x PE is relatively lower than peers
Con:
Limited customers - Top 5 customers contributed 84%.
Largely project based. Need efforts to build recurring income.