CARE closes at 23% premium on listing day
It was a fantastic listing for Credit Analysis and Research, the second largest rating agency in India. The stock rallied 23 percent over its issue price of Rs 750, to close at Rs 922.55 on the National Stock Exchange.
December 27, 2012 / 08:22 IST
It was a fantastic listing for Credit Analysis and Research (CARE), the second largest rating agency in India. The stock rallied 23 percent over its issue price of Rs 750, to close at Rs 922.55 on the National Stock Exchange.
The stock opened at Rs 940 (well above the price that expected by analysts) and touched an intraday high of Rs 985 & low of Rs 895.Combined trading volume (BSE and NSE) was 1.5 crore equity shares, more than double as compared to issue size of 72 lakh shares.Also Read -
CARE may grow 15-17%, better margins: Angel BrokingCARE raised Rs 540 crore through the issue, diluting 25.22 percent stake in the company by promoters. It was offer for sale, therefore the promoters received entire issue proceeds. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
