Brickwork Ratings assigns "BWR IPO Grade 3" to IPO of Jindal Cotex Ltd

Bangalore, Nov 12 (ANI/Business Wire India): Brickwork Ratings has assigned BWR IPO Grade '3' for the proposed initial public offering of Jindal Cotex Ltd.

This grade primarily reveals "Average Fundamentals" in relation to other listed securities in India. Brickwork Ratings IPO grading is a mere opinion on the fundamentals of issuer and is just one parameter that an investor could use before the investment decision.

The specific decision relating to invest must also consider the investor's risk profile, asset allocation, time horizon as well as the issue price, relative to the fundamental value. Brickwork does not comment on the price. The grade is neither a recommendation to buy/sell nor hold the graded instrument.

The shares offered to public is 12,453,894 (about 12 million) Shares Face Value Rs.10/- each, representing 49.81 per cent of post issue equity.

The lead managers Registrar are Saffron Capital Advisors Private Limited and Bigshare Services Private Limited.

ANI