CRISIL Equities has assigned a grade 3/5 to the proposed initial public offer (IPO) of One97 Communications, which indicates that the fundamentals of the IPO are average relative to other listed equity securities in India, according to the research report dated March 18.
One97 is a leading provider of telecom VAS to TSPs (they use VAS services internally and for their subscribers) and enterprise customers. The report says, "The IPO grade assigned to One97 reflects its diversified presence in the domestic telecom value-added solutions (VAS) industry (excluding peer-to-peer SMS). CRISIL Research expects this industry to grow at a CAGR of 21% from Rs 40.8 billion in FY09 to Rs 135.3 billion in FY15. The growth will be driven by telecom service providersDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
