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Saturday, May 31, 2008

CRISIL has assigned a CRISIL IPO Grade 2/5 to the proposed IPO of Microsec Fiancial Services Ltd. This grade indicates that the fundamentals of the issue are below average relative to other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The offer price for the issue may be higher or lower than the level justified by its fundamentals. The grade is not a recommendation to buy / sell or hold the graded instrument, the graded instrument's future market price or its suitability for a particular investor.

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