Published on Mon, Oct 10, 2011 at 17:25 | Source : Reuters
Updated at Mon, Oct 10, 2011 at 17:28
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
CARE files papers for 7.2 million share IPO
Ratings agency Credit Analysis and Research (CARE) has filed initial papers with the stock market regulator for an initial public offer (IPO) of 7.2 million shares, or 25% of equity, by its shareholders.
Ratings agency Credit Analysis and Research (CARE) has filed initial papers with the stock market regulator for an initial public offer (IPO) of 7.2 million shares, or 25% of equity, by its shareholders.
CARE shareholders including State Bank of India, IDBI Bank, Canara Bank and Federal Bank, among others, will offload part of their stake in the company, according to the paper filed with the regulator last week.
The filing did not say how much the IPO would raise but the Economic Times had in June reported that CARE would raise Rs 5 billion (USD 102 million) from the share sale.
CARE will not receive any proceeds from the offer and all the funds will go to the selling shareholders.
Kotak Investment Banking, Bank of America-Merrill Lynch, Edelweiss, ICICI Securities, IDBI Capital and SBI Capital Markets are the managers to the issue.
