Endurance Technologies IPO : CRISIL gives 3 out of 5

by khalid on 08/01/2011 · 0 comments

Endurance Technologies IPO has got 3 out of 5 by CRISIL (rating agency) and this rating/grading is ‘Average’ for a automotive component manufacturing company. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. Endurance is a leading automotive component manufacturing company in India. It manufactures and supplies a diverse range of components for two-wheelers, three-wheelers, passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

The IPO proceeds will be used by Endurance to fund the repayment of certain loans amounting to Rs 206.8 million, to fund the Rs 2,040 million prepayment of loan and to invest Rs 500 million in capital expenditure and capital equipment.

The objects of the IPO are to procuring telecom equipment and software for installation at office as well as various sites of customers and general corporate purposes.

Stay tuned to BelltheBull Blog for more news on Endurance Technologies IPO !

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