Credit Analysis & Research Ltd. (CARE), a credit rating, information and advisory services company promoted by Industrial Development Bank of India (IDBI), Canara Bank, Unit Trust of India (UTI) and other leading banks and financial services companies has assigned IPO Grade 1 to Orbit Corporation Ltd. IPO.
CARE assigns grades to IPOs on a scale of 1 to 5 grades whereby Grade 1 indicates poor fundamentals with IPO Grade 5 indicating strong fundamentals
Orbit Corporation Ltd. IPO is offered in a price band of Rs.108/- to Rs.117/- per share with a bidding lot of 50 shares. The issue is open from Tuesday, March 20, 2007 to Friday, March 23, 2007.
CARE's ratings are recognised by the Government of India and all regulatory authorities including the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI). CARE has been granted registration by SEBI under the Securities & Exchange Board of India (Credit Rating Agencies) Regulations,1999.
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