Dec 12, 2012, 09.36 AM | Source: Moneycontrol.com
The Rs 540-crore IPO of credit rating agency Credit Analysis and Research Limited (CARE) has oversubscribed 40.98 times, as per data available on National Stock Exchange.
The issue, which closed today, has received bids for 25.08 crore equity shares as against public offer of 61.19 lakh shares.
The response from qualified institutional buyers was overwhelming as their reserved portion subscribed 45.8 times while non-institutional and retail investors' portion received subscription of 110.96 times and 6.18 percent.
Out of the total issue size, the company already raised Rs 80.9 crore from anchor investors, by allocating 10,79,954 equity shares (15 percent of the total offer of 71,99,700 equity shares) to 12 anchor investors at upper end of price band of Rs 700-750 per share.
Promoters will dilute 25.22 per cent of their holding in the company through the stake sale and the company will not receive any amount from the issue.
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