Business Daily from THE HINDU group of publications
Friday, Aug 18, 2006
Business Daily from THE HINDU group of publications Friday, Aug 18, 2006 |
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Info-Tech
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IPOs Markets - Credit Rating Our Bureau
Kolkata , Aug. 17 Rating agency CARE has flagged off its IPO grading service with an `IPO Grade 2' rating to Cambridge Technology Enterprise Ltd. The grading has factored in the experience of CTEL's promoters, competency of the senior management team, locational advantage, business prospects and the like. It is, however, constrained due to the company's small size of operations, the highly competitive nature of the IT industry, uncertainties with regard to its acquisition-dependent growth strategy, entire dependence on a single market, high dependence on channel partners for sourcing business and client concentration, CARE has mentioned. IPO grading is a service aimed at facilitating the assessment of equity issues offered to public, the rating agency has stated, adding that grades assigned to issues will represent a relative assessment of the `fundamentals' of the issuers. Its gradings will help investors, especially retail investors, to appreciate the meaning of disclosures listed in offer documents, it is pointed out. CARE will assess the overall fundamentals of an issuer on a five-point scale. The highest score that may be assigned to any IPO will be five, which will indicate strong fundamentals. The lowest score will indicate poor fundamentals.
More Stories on : IPOs | Credit Rating
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