Rushil Decor IPO (initial public offering) : CARE gives 2 out of 5 Grade

by khalid on 23/06/2011 · 0 comments

Rushil Decor Limited (Initial Public Offering) IPO has got 2 out of 5 by CARE (rating agency) and this rating/grading is “Below Average” fundamentals for a decorative high pressure laminates company IPO. The grade 2 indicates that the fundamentals of the IPO are “Below Average” compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offering (IPO) of 5,643,750 Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. The company is likely to raise around Rs 40.64 Crore through the issue at the upper level of price band. Rushil Decor Limited is a leading Indian manufacturer of decorative high pressure laminates and plain particle boards.

The proceeds of the IPO are proposed to be utilized for setting up of medium density fibre board plant at Chikmagalur, Karnataka, margin for working capital requirement, public issue expenses and general corporate purpose.

The Book running lead manager (BRLM) to the issue are Corporate Strategic Allianz Limited and Report Indbank Merchant Banking Services Limited.

Registrar of the Issue : Bigshare Services Private Limited , Mumbai.

Stay tuned to BelltheBull Blog for more on Rushil Decor IPO !

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