The initial public offer by Sadbhav Infrastructure Project has been assigned an IPO grade of 4/5 by rating agency CRISIL. The grade indicates above-average fundamentals for the IPO.
The company has filed draft offer documents with SEBI in December last year, for a fresh issue of Rs 600 crore besides an offer-for-sale. Ahmedabad-based Sadbhav Infra, a subsidiary of Sadbhav Engineering, functions in the build-operate-transfer space in the road sector.