CARE to list shares on exchanges on December 26

Credit rating agency Credit Analysis and Research Limited (CARE) will list its equity shares on Wednesday, December 26, 2012. It has fixed the issue price at higher end of price band of Rs 700-750 per share.

The issue, which opened for subscription during December 7-11, was oversubscribed 40.98 times, helped by all kind of investors.

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.

Also Read: CARE Listing - SP Tulsian expects Rs 900+

CARE 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.

Equity shares will be listing on both exchanges BSE and NSE.