- IPO News
CARE IPO gets muted initial response
Receives bids for 5.03 lakh shares
The initial public offer (IPO) of credit rating agency CARE received bids for 5.03 lakh shares till 16:00 IST on first day of the bidding for the IPO today, 7 December 2012. The issue was subscribed 0.07 times. The issue closes on 11 December 2012.
The IPO comprises of offer for sale of share by existing shareholders and therefore the company will not get any funds from the IPO. The selling shareholders are offering about 71.99 lakh equity shares of face value Rs 10 each. The offer will constitute 25.22% of the post-offer paid-up equity share capital of the company.
The IPO committee of the board of directors of Credit Analysis & Research (CARE) at its meeting held on 6 December 2012 finalised allocation of 10.79 lakh shares to 12 anchor investors at Rs 750 per share, the top end of the Rs 700-750 price for the IPO.
Among the anchor investors are Goldman Sachs India Fund, Eastspring Investments-India Equity Fund, DB International (Asia) and Wellington Management Company LLP A/C BAY POND BMDMB will be allotted 1 lakh shares each. Centaura Investments (Mauritius) PTE will be allotted 1.86 lakh shares.
CARE Ratings provides the entire spectrum of credit rating that helps corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations.
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