LAPL Automotive SME IPO: Firing on cylinders, one customer
LAPL Automotive's SME IPO is a 100% fresh issue, with strong revenue growth and return ratios backing the story. But nearly 77% of revenue comes from a single customer, and the capex plan has no independent appraisal. A recent auditor resignation and related-party transactions add further governance concerns. To read, here's the article.
The skinny
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