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This story is from April 14, 2006
First rating of a public offer done by ICRA
The rating agency has assigned IPO grade two to the proposed initial public offering of SRS Entertainment Ltd.
Normally, rating is done of a debt instrument on the basis of the fact whether the issuer of the instrument can repay the debt on time or not.
But, Sebi had proposed to launch an equity rating to protect small investors from the vagaries of stock market.
An ICRA IPO grade is a symbolic representation of ICRA's current assessment of the fundamentals of the issuer concerned. Such an assessment involves a comparison both with peers and with other listed equity securities.
ICRA clarified that IPO grade is not a comment on the prices of the security concerned and not should it be taken as a recommendation to invest or not to invest in that security. It also does not indicate about the future stock prices.
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