5 PAISA CAPITAL rights issue at 80 per share!

Stocks
1

The right is at 80 net and market price is 350 ! the ratio is 1:1 with last day as 27 May .
it is out of ASM and from today 28 may it is trading EX RIGHTS .
on the day of announcement of rights schedule open date as 23 July the market price is 229 per share with LC .

WHAT IS THE REASON FOR SUCH HIGH VALUATION ? THE FINANCIALS AND EVEN PROMOTERS GOODWILL ARE NOT AT ALL ATTRACTIVE .

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Trading at price to book of nearly ten times having net worth less then 50 crores and market cap over 500 crore while sector P/b ratio according to Zerodha kite is online little over 2. Then why such valuations.