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Really, it was a magnificent response from investors to ICRA, a leading provider of investment information and credit rating services in India. Every type of investor, whether it is FII, retail or HNI, has given glorious support to the issue. Retail participation was much higher in this issue as compared to earlier issues in the past.

In total, it has received more than 19.36 crore bids, out of which, 76.40% or 4.57 crore bids were at cut off price.

The issue was oversubscribed 75.04 times, as per NSE website.

Qualified institutional investors have put over 11.69 crore bids, in that 53.88% bids were from FIIs. QIBs portion subscribed 90.65 times.

Non-institutional investors' portion was subscribed 72 times and retail investors at 54 times.

Subscription Details

Investors	Times
Qualified institutional buyers	90.65
Non institutional investors	72.12
Retail individual investors	53.99
Total	75.04

 

 

 

 

The company entered capital market with a public issue of 2,581,100 equity shares of Rs 10 each, for cash, at a price to be decided through a 100% book building process

The price band for the issue was between Rs 275 to Rs 330 per equity share. The issue size at the higher price band is at Rs 85.17 crore.

It is also an associate of Moody's Investors Services. Moody has 29% stake in ICRA. Remaining stake is held by leading financial institutions and banks like SBI, LIC, IFCI etc. 

The objects of the offer are to achieve the benefits of listing on the stock exchanges and provide liquidity to existing shareholders and employees.

The equity shares are proposed to be listed on the NSE and the BSE. Book running lead managers to the issue are SBI Capital Markets & Kotak Mahindra Capital and registrar is Intime Spectrum Registry.