Credit rating agency, CARE has assigned a IPO Grade 3 to the proposed Initial Public Offering (IPO) of Prestige Estates Projects (PEPL). CARE IPO Grade 3 indicates average fundamentals.
CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
CARE`s IPO grading is an opinion on the fundamentals of the issuer. The grade assigned to any individual issue represents a relative assessment of the fundamentals of the issuer.
PEPL proposes an IPO of equity shares of face value of Rs 10 each aggregating Rs 12 billion, for which the price band is yet to be decided