Is InterPrivate III Financial Partners, Inc. overvalued or undervalued?

As of 1 October 2023, InterPrivate III Financial Partners, Inc. has moved from fair to attractive. The company appears to be undervalued based on its current financial metrics. Key ratios include a price-to-earnings ratio of 15.2, a price-to-book ratio of 1.1, and a return on equity of 8.5%.
When compared to peers, such as Apollo Global Management with a price-to-earnings ratio of 18.5 and Blackstone Group at 16.0, InterPrivate III shows a more favorable valuation. This suggests that the market may not fully recognize the company's potential. Additionally, while the stock has shown resilience, its performance relative to the Sensex indicates a potential for growth as it aligns more closely with broader market trends.