Ramkrishna Forgings and MM Forgings are trading at a PE of 123.30 and 37.14, respectively. Most analysts suggest subscribing to the issue. However, some say a degree of caution is needed. “It is demanding EV/sales of 4.3x, which is at premium to the peer average of 3.9x. The overall outlook for bearing rings and auto components industries remains positive. However, despite its presence in the lucrative industrials segment, the higher demanded valuation is a concern for investors. Thus, we assign a “subscribe with caution” rating for the issue,” said Choice Broking. From the share sale, the company will only get Rs 56 crore, which will be used for funding long-term working capital requirements and general corporate purposes, the company said.