CRISIL assigns grade 2/5 to Neoteric Infomatique IPO

CRISIL has come out with rating report on Neoteric Infomatique IPO. It has assigned CRISIL IPO grade 2/5 to the IPO, in the issue dated July 23, 2008. The company aims to raise approximately Rs 470 million to Rs 480 million through the fresh issuance of 6.97 million shares. CRISIL research report on Neoteric Infomatique IPO: CRISIL has assigned a CRISIL IPO Grade 2/5 to the proposed initial public offer of Neoteric Infomatique Ltd (Neo). 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... [read full story]