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Thursday, January 20, 2011

Credit Rating Agency CARE Limited has assigned an IPO Grade 3 to the upcoming IPO of Omkar Speciality Chemicals Ltd. CARE IPO Grade 3 indicates average fundamentals. CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. CARE IPO Grading is an opinion on the relative assessment of the fundamentals of the issuer

OSCL (formerly Omkar Specialty Chemicals Private Limited) is involved in the production of specialty chemicals and pharma intermediates. OSCL has proposed to utilise the IPO proceeds to expand the production capacity from 950 MTPA to 3,650 MTPA by FY13. The total project cost envisaged for the expansion is around Rs.47 crore. Balance proceeds are proposed to be utilised for meeting working capital requirements, general corporate purpose and issue expenses

Click here to download the CARE IPO Grading Document for Omkar Speciality Chemicals Ltd. IPO!

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