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SMERA (Small Medium Enterprises Rating Agency of India Ltd) has assigned its first grading of an equity offering under the SEBI guidelines. The rating — ‘IPO Grade 2', has been assigned to the proposed initial public offerings of Tejora Technologies Ltd, said a press release issued by SMERA.
SMERA assigns IPO gradings on a scale of 1-5, with grade 5 indicating strongest fundamentals and grade one for the weakest.
A SMERA IPO grade is a representation of SMERA's current assessment of the fundamentals of the issuer concerned. SMERA's IPO grading is the fundamental evaluation of a company's public issue.
It will help investors understand the risks, if any, associated with the issue, to the extent they relate to the fundamental analysis of the issuer company. SMERA IPO grading is not a comment on the prices of the security concerned and neither should it be construed as a recommendation to invest or not in that security. Also, the grading does not indicate about the likely listing prices of the security graded, the release said.
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