Tunip Agro Limited IPO : Fitch gives 2 out of 5 Grading

by khalid on 04/12/2010 · 0 comments

Tunip Agro Limited IPO has got 2 out of 5 by Fitch (rating agency) and this rating/grading is Below Average for a quality food products company. 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 Offer (IPO) of —- Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. Tunip Agro Limited is Mumbai based quality food products company founded in 2004. The company has its brand known as “Onjus” which is one of India’s most popular and affordable choice fruit based beverages.

The proceeds of the issue would be deployed for setting up manufacturing facilities at Sri Lanka , purchasing office premises at Mumbai and for working capital of the company.

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

Book Running Lead Managers (BRLMs) to the offer is Keynote Corporate Services Limited, Mumbai .

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more on Tunip Agro Limited IPO !

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