At the higher price band of Rs. 299 per share, ASL's share is valued at a P/E multiple of 58.5x (to its restated FY16 EPS of Rs. 5.1), which is at significant discount to its peer average of 482.7x. On P/BVPS and EV/EBITDA front, it is valued at multiple of 12.3x and 29.6x, respectively, as compared to peers average of 6x and 104.3x. Below are few key observations of the issue:...