CRISIL assigns IPO grade 2/5 to DB Realty.

(ADPnews) - Jan 15, 2010 - Indian credit rating agency CRISIL assigned IPO Grade 2/5 to the proposed initial public

offer (IPO) of local property developer DB Realty Ltd.

This grade indicates that the fundamentals of the IPO are below average relative to the other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy/sell or hold the graded instrument, or a comment on the graded instrument's future market price or its suitability for a particular investor.

The grading reflects the company's lack of operating …