TechnoCrat is a privately owned firm operating in the IT industry. The firm expects to expand its operations and intends to raise capital through an Initial Public Offering (IPO). The investment bank managing the issue has assigned you as a junior analyst to use a simple valuation technique to determine the share value of TechnoCrat. You decided to begin with comparables and collect financial data from the 2020 annual reports of six companies similar to the firm. TechnoCrat had a book value of $1,250 million in 2019. In addition, TechnoCrat had 4,650 million shares outstanding throughout the year. The financial information of the comparable firms is given below (All numbers are in millions of dollars). Using the above details: a) Calculate relevant average multiples. (6 marks) b) Estimate a value for TechnoCrat. (3 marks) c) What should be the value per share of TechnoCrat? A market analyst speculated that TechnoCrat's share price should be around $1.75 per share. If the analyst's statement is true, what is your view on the value of the share? Is it the right time for a share issue? (3 marks) TechnoCrat is a privately owned firm operating in the IT industry. The firm expects to expand its operations and intends to raise capital through an Initial Public Offering (IPO). The investment bank managing the issue has assigned you as a junior analyst to use a simple valuation technique to determine the share value of TechnoCrat. You decided to begin with comparables and collect financial data from the 2020 annual reports of six companies similar to the firm. TechnoCrat had a book value of $1,250 million in 2019. In addition, TechnoCrat had 4,650 million shares outstanding throughout the year. The financial information of the comparable firms is given below (All numbers are in millions of dollars). Using the above details: a) Calculate relevant average multiples. (6 marks) b) Estimate a value for TechnoCrat. (3 marks) c) What should be the value per share of TechnoCrat? A market analyst speculated that TechnoCrat's share price should be around $1.75 per share. If the analyst's statement is true, what is your view on the value of the share? Is it the right time for a share issue