Corporate News Details
Indiabulls Power Ltd's proposed public offer received IPO Grade "3/5" from CRISIL, which indicates that the fundamentals of the issue are average relative to other listed equity securities.
The grading reflects CRISIL Research's view that the existing power deficit scenario together with the outlook for sustained domestic economic growth presents a positive outlook for the power sector. This will benefit companies like Indiabulls Power who are setting up large generation capacities. Besides, the grading also reflects the group's good financial flexibility, strong fund raising ability and the group management's successful track record in other businesses.
However, the grading is tempered by the risks inherent in completing and commissioning the relatively large projects under execution. Also, this is a completely new sector of exposure for the group.
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