Issue Size: 42,000,000 Equity Shares of Rs. 10 

Issue opens on: Aug 26, 2014 
Issue closes on: Aug 28, 2014
Price Band: Rs.44/- to Rs.47/- per equity share
Bid Lot: 300 Equity shares and in multiples thereof
IPO Rating: CRISIL IPO Grade 4/5

Just Dial, which is coming up with an IPO from May 20, 2013, has announced that the company will offer a Retail Discount and a Safety Net mechanism for the benefit of investors

The IPO, which received a CRISIL IPO Grade 5/5 indicating strong fundamentals, will remain open for subscription till May 22, 2013 and consists of shares having Face Value of Rs.10/- each, offered in a price band of Rs.470/- to Rs.543/- per equity share. CRISIL assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals. (It may be however, be noted that this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals)

Just Dial has offered a discount of 10% on the floor price to the retail individual investors. Just Dial has also announced that it will offer a safety net mechanism which will be available to all retail individual investors applying in IPO for amount up to Rs.50,000. The safety net would be triggered in case the price of the share fall over 20% from the issue price

Credit Rating Agency CRISIL has rated the upcoming IPO of Bharti Infratel Limited with an IPO Grade 4/5 (Pronounced Grade Four out of Five)

This grade indicates that the fundamentals of the Bharti Infratel IPO are 'above average' relative to the other listed equity securities in India. CRISIL assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals. This grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy, sell or hold the graded instrument, or a comment on the graded instrument's future market price or its suitability for a particular investor.

Bharti Infratel is one of the world's largest telecom tower infrastructure providers which deploys, owns and manages telecom towers and communication structures for all wireless operators. The business of Bharti Infratel and Indus is to acquire, build, own and operate tower and related infrastructure. The company is promoted by Bharti Airtel Limited

The IPO of Tara Jewels is set to hit the capital market today from Wednesday, November 21, 2012. The Equity shares under the IPO would be offered with a price band of Rs.225/- to Rs.230/- per equity share

Tara Jewels Limited is engaged in the business of jewellery manufacturing, export and retailing. Tara Jewels is among the top India based Jewel exporter to global markets. The products of Tara Jewels include fashion, bridal and handmade bespoke jewellery. Tara Jewels has 4 manufacturing units; 3 in India and 1 in China. Company has over 1800 employees

CARE has assigned an IPO Grade 3 to Tara Jewels Ltd IPO. This means as per CARE, company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals

The details of the IPO are as under:

Tara Jewels IPO Details:
Issue Size: 7,977,778 Equity Shares of Rs. 10 each
Issue opens on: Nov 21, 2012
Issue closes on: Nov 23, 2012
Price Band: Rs.225/- to Rs.230/- per equity share
Bid Lot: 50 Equity Shares and in multiple shares
Listing At: BSE, NSE

CRISIL has assigned an IPO Grade 4 to Speciality Restaurants Ltd IPO. This means as per CRISIL, company has 'Above Average Fundamentals'. CRISIL assigns IPO grading on a scale of IPO Grade 5 to IPO Grade 1, with IPO Grade 5 indicating strong fundamentals and IPO Grade 1 indicating poor fundamentals

Speciality Restaurants Ltd is a fine dining operator in India with 62 restaurants and 11 confectionaries as of December 31, 2012. Speciality Restaurants has established various famous brands across the nation, including Mainland China, Oh! Calcutta, Sigree, Haka, Machaan, Mostly Kababs, Just Biryani and Sweet Bengal. It runs 62 Food & Beverage outlets in various important cities. Mainland China serves more than 2 lakhs Chinese meals per month

The IPO would remain open for subscription between May 16, 2012 and May 18, 2012

CRISIL has assigned a CRISIL IPO Grade of ‘3/5’ (pronounced ‘three on five’) to the proposed IPO of Tribhovandas Bhimji Zaveri Ltd (TBZ). This grade indicates that the fundamentals of the IPO are 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 grade is not a recommendation to buy, sell or hold the graded instrument, its future market price or suitability for a particular investor

According to the grading report by CRISIL, The assigned grade reflects TBZ’s century-old presence in the retail jewellery business and the resultant strong brand recall. The grade factors in the resilience of demand for gold jewellery in India despite a significant rise in gold prices, 28% y-o-y in 2011, which has added shine to TBZ’s top line. Compared to other gold jewellery players, TBZ’s revenue mix leans towards higher-margin diamond jewellery, which bodes well for TBZ in the wake of increasing acceptance of diamond jewellery in India. The grade has also taken into account the expected increase in organised retail penetration in jewellery vis-à-vis the single-store format, which will benefit established players like TBZ. The company has steadily expanded from one store to 14 stores in the past decade

The grade is restrained by competition in the jewellery retailing market, which will likely intensify following planned expansions by regional/traditional players. TBZ too plans to expand to 22 stores by end-FY13 at a faster-than ever pace, which could throw up execution challenges even though its
strategies (regarding store location, size, format, personnel and schedule) are in place. Opening of new stores will also put pressure on profitability due to higher marketing expenses and working capital requirement. Further, with the Tribhovandas Bhimji Zaveri brand being used by other Zaveri family members, the risk of brand dilution cannot be ignored, especially if they under-perform on quality.

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!

CRISIL Research has assigned a grade of 3/5 to the proposed IPO of Tribhovandas Bhimji Zaveri Ltd (TBZ). This grade indicates that the fundamentals of the IPO are average relative to other listed equity securities in India. 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

However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy, sell or hold the graded instrument, its future market price or suitability for a particular investor

CRISIL has assigned an IPO Grade 5 to MCX IPO. This means as per CRISIL, the company has 'Strong Fundamentals'. CRISIL assigns IPO grading 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

Multi Commodity Exchange of India Ltd (MCX) is India based electronic commodity futures exchange. MCX provides online trading facility along with clearing and settlement operations for commodity futures across India.

Earlier, CRISIL Research had undertaken a fresh grading exercise for MCX as the grade assigned to the company on June 15, 2011 had expired and has reaffirmed grade 5/5 to the proposed initial public offer (IPO) of Multi Commodity Exchange of India (MCX)

This grade indicates that the fundamentals of the IPO are strong 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 grade is not a recommendation to buy, sell or hold the graded instrument, its future market price or suitability for a particular investor

CRISIL Research has undertaken a fresh grading exercise for MCX as the grade assigned to the company on June 15, 2011 had expired and has reaffirmed grade 5/5 to the proposed initial public offer (IPO) of Multi Commodity Exchange of India (MCX)

This grade indicates that the fundamentals of the IPO are strong 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 grade is not a recommendation to buy, sell or hold the graded instrument, its future market price or suitability for a particular investor

CRISIL has assigned an IPO Grade 4/5 to Galaxy Surfactants IPO. 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. An IPO Grade 4 assigned to an IPO indicates that the fundamentals of the IPO are above average relative to the other listed equity securities in India

According to the grading report of CRISIL, The assigned grade takes into account good prospects for surfactants, especially in India and emerging markets, driven by strong growth in end-user personal and home care segments in an improved economic environment. The grade reflects Galaxy’s dominant position in the Indian market (more than 60% market share in its range of personal care performance chemicals). It also reflects favourable business prospects arising from capacity expansion in Egypt to cater to the demand in high-growth markets of Africa, Middle East and Latin America

The report also adds that the grade is moderated by the high client concentration risk faced by the company. Also, the timely execution of its first manufacturing facility in the international market remains a key monitorable. Galaxy is a relatively small company in the global surfactant market with a market share of less than 1% and it faces stiff competition from large and diversified global players. Its ability to withstand strong competition remains a key monitorable too

Click here to download the IPO Grading Document for Galaxy Surfactants Ltd. from CRISIL