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Friday, March 16, 2012

CRISIL assigns an IPO Grade 4/5 to NBCC IPO

Credit Rating Agency CRISIL has assigned an IPO Grade of 4/5 to the proposed IPO of NBCC Ltd., which would open for subscription from March 22, 2012. The grade indicates that the fundamentals of the company are 'Above Average'. CRISIL assigns IPO Grades on a scale of IPO Grade 1 to IPO Grade 5 with IPO Grade 1 indicating poor fundamentals and IPO Grade 5 indicating strong fundamentals

NBCC IPO would be the last IPO in the divestment plan of the Government for FY2012. IDBI Capital Market Services Limited and Enam Securities Private Limited are the book running lead managers to the issue. NBCC is engaged in the business of project management consultancy services for civil construction projects; civil infrastructure for power sector; and real estate development

Check back Indian IPO Blog for more on NBCC IPO!
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