CRISIL grade 3/5 to Tecpro Systems IPO
CRISIL has assigned CRISIL IPO Grade 3/5 to the proposed Rs 100-200 crore initial public offer of Tecpro Systems Ltd.
By INDIATIMES NEWS NETWORK |
MUMBAI: CRISIL has assigned CRISIL IPO Grade 3/5 to the proposed Rs 100-200 crore initial public offer of Tecpro Systems Ltd. This grade indicates that the fundamentals of the issue are average, in relation to other listed equity securities in India.
The grading reflects the sound operational and strategic abilities of Tecpro Systems promoters in the material handling business. This is seen in the company's emergence as a serious player in the Indian material handling market over the last five years to compete with well-established players like McNally Bharat Engineering and Tata Robbins Fraser.
The company has bagged repeat orders from many large clients and the promoters have been able to enter into technical tie-ups with global manufacturers to enhance Tecpro's manufacturing footprint in the material handling business.
The grading is constrained by uncertainties associated with the company's plans in other business areas such as engineering procurement and construction for small power plants, making fuel from municipal waste and running bio-mass plants given that Tecpro's performance so far reflects their extensive operational involvement.
The grading also reflects the company's complicated corporate structure that is characterised by the presence of separate corporate entities to carry out different activities in the same value chain.
The grading reflects the sound operational and strategic abilities of Tecpro Systems promoters in the material handling business. This is seen in the company's emergence as a serious player in the Indian material handling market over the last five years to compete with well-established players like McNally Bharat Engineering and Tata Robbins Fraser.
The company has bagged repeat orders from many large clients and the promoters have been able to enter into technical tie-ups with global manufacturers to enhance Tecpro's manufacturing footprint in the material handling business.
The grading is constrained by uncertainties associated with the company's plans in other business areas such as engineering procurement and construction for small power plants, making fuel from municipal waste and running bio-mass plants given that Tecpro's performance so far reflects their extensive operational involvement.
The grading also reflects the company's complicated corporate structure that is characterised by the presence of separate corporate entities to carry out different activities in the same value chain.
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