Smart digital is a manufacturer of digital equipment. The company has a net financial obligation and is intending to reduce debt by raising equity capital. The CFO of the firm being busy assigned the task of valuation of its operations to an investment banking firm. The information collected by investment bank executive is as follows: (all amounts in Rupees Crores); Net Operating Assets (NOA) and Net Financial Obligation (NFC) as at the end of 2021 were Rs. 1,135 and Rs. 720. Required rate of return on operations is 11%; Long term growth rate in Residual Income is expected to be the same as in the year 2025. The company normally invests in net operating evenly through the year. Estimates (E) for the next 4 years are given below: Particulars 2022 (E) 2023 (E) 2024 (E) 2025 (E) Operating Income 187 200 214 229 Net Operating Assets 1,214 1,299 1,390 1,488 You are required to Estimate the value of Share to offer it during the Further Public Offer for the Smart Digital