CRISIL Assigns IPO Grade ‘4 5’ To Tecpro Systems’ IPO (18-Aug-2010)
CRISIL has assigned a CRISIL IPO Grade ‘4/5’ to the proposed initial public offer (IPO) of Tecpro Systems, which will enter the capital markets with an issue of 75,50,000 equity share. This grade indicates that the fundamentals of the IPO are above average relative to other listed equity securities in India.
The proceeds of the issue are proposed to be utilized for; setting up of design and engineering center; setting up of plant to manufacture conveyor belts; equity investment in TEL; equity investment in TPSL and for expansion of existing manufacturing facilities.
SBI Capital Markets and Kotak Mahindra Capital Company are the book running lead managers to the issue, while Intime Spectrum Registry is the registrar to the issue.
Tecpro Systems is one of the leading material handling companies in India engaged in providing turnkey solutions in bulk (mainly coal) handling, ash handling and BOP.
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