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CARE’s IPO subscribed over 40 times


12 Dec 2012
The Initial Public Offer (IPO) of rating agency Credit Analysis and Research Ltd (CARE), which closed on Tuesday, received applications for nearly 41 times the shares on offer, showed data provided by National Stock Exchange.

CARE, planning to raise Rs 540 crore through IPO, received bids for 24.9 crore equity shares (including BSE and NSE) as against public offer of 61.19 lakh shares, signalling revival in primary markets.

Its IPO also became the third largest of this year after Bharti Infratel and Multi Commodity Exchange of India Ltd (MCX).

According to NSE data, the public issue has been oversubscribed 16.53 times while qualified institutional buyers’ reserved portion subscribed 33.44 times. Bids in non-institutional and retail investors' portion received subscription of 9.77 times and 2.51 per cent.
Source: Dion Global   Type: IPO Related