CRISIL assigns grade 4/5 to Galaxy Surfactants IPO

CRISIL Equities has assigned a grade of 4/5 to the proposed initial public offer (IPO) of Galaxy Surfactants, which indicates that the fundamentals of the IPO are above average relative to other listed equity securities in India, according to report.

Galaxy is one of the leading manufacturers and marketers of surfactants and specialty chemicals in India for the personal and home care industry. It produces a range of vital cosmetic ingredients including active ingredients, UV protection and functional products. The CRISIL's report says, "The assigned grade takes into account good prospects for surfactants, especially in India and emerging markets, driven by strong growth in end-user personal and home care segments in an improved economic environment. The grade reflects Galaxy

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