Sudar Garments IPO : CRISIL gives 1 out of 5 Grade

by khalid on 25/01/2011 · 2 comments

Sudar Garments IPO has got 1 out of 5 by CRISIL (rating agency) and this rating/grading is ‘Poor’ for a garments manufacturing comapny. The grade 1 indicates that the fundamentals of the IPO are ‘Poor’ compared to the other listed securities in India. Sudar specializes in shirts, trousers and wide range of other apparel. It is an integrated apparel manufacturer with the capability of designing and manufacturing involving cutting, body stitching, washing, ironing and finishing.

The Issue proceeds will be used for expansion of the existing apparel manufacturing unit at a cost of Rs 26.29 crore, working capital requirement of Rs 25 crore and setting up retail outlets & brand building at cost of Rs 5.9 crore.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The integrated apparel manufacturer with a capacity of two million garments per annum, Sudar Garments Ltd presently manufactures under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’.

The sole Book Running Lead Manager (BRLM) to the offer is Ashika Capital Limited.

Registrar of this issue is Link Intime India Pvt Limited Mumbai.

Stay tuned to BelltheBull Blog for more news on Sudar Garments IPO !

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{ 2 comments… read them below or add one }

Rosaline March 24, 2011

The promoter is Number one cheater

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khalid March 24, 2011

I think the same is reflecting from the grading this IPO got from rating agency CRISIL. Fundamentals are very poor.

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