ICRA assigns grade 2/5 to Rushil Decor IPO

ICRA has assigned grade 2/5 indicating below-average fundamentals to the proposed initial public offering of Rushil Decor (RDL), in its research report.

May 11, 2011 / 15:18 IST

ICRA has assigned grade 2/5 indicating below-average fundamentals to the proposed initial public offering of Rushil Decor (RDL), in its research report.

RDL is a part of the Ahmedabad based Rushil group engaged in the manufacturing and sales of laminated sheets. RDL started as a manufacturer of laminated sheets with an installed capacity of 8.4 lakh sheets per annum which has increased to 30 lakh sheets per annum as on date. In 2009, RDL diversified into the manufacturing of Plain Particle Board. Currently the company is setting up a MDF unit at Chikmanglur, Karnataka.

The report says, "The IPO grade assigned by ICRA reflects the favourable demand outlook for engineered wood products driven by strong growth in furniture and construction segment, RDL

first published: May 11, 2011 08:26 am

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