Among the recent IPO’s there has been a very subdued response to such companies from the market. The market however had responded positively to stocks like Global Broadcast Network and Mindtree technologies. Buth the new kid on the block that has appreciable value is ICRA. ICRA was established in 1991 as a credit rating agency by a consortium of financial/ investment institutions, commercial banks and financial services companies.
This is the premier firm that is engaged in the business of providing rating services. Basically the services provided for corporates include (i) consulting services, (ii) information technology based services, (iii) information services, and (iv) outsourcing services.Best in its Class When it comes to Credit rating, ICRA is the second largest company next only to Crisil. The firm commends strong market position for credit ratings in the financial sector and structured finance.The company boasts of Rich database and research support for its products and services portfolio. This is a very attractive buy in the IPO market. ICRA is promoted chiefly by the Moody’s Group .