Mamaearth IPO receives lukewarm response

Shivani Nyati, head of wealth at Swastika Investmart Ltd, said on Tuesday that the finan- cial performance of the com- pany has been inconsistent, and it has reported losses in re- cent fiscals. Subsidiaries that it has acquired have also incurred loss- es. "As it is a loss-mak- ing company, we can't derive its actual P/E, but even after considering its outflow in the latest investment, the company is coming at an ex- tremely high valuation.

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