The Equity Shares of CARE Limited, the Indian credit rating agency listed on the exchanges today. These were offered under the IPO at a price of Rs.750/- per share. The share opened in hefty green and touched an Intra-day high of Rs.986.20 on BSE before concluding the listing day at Rs.923.95 (Premium of 23.2 percent over the issue price)

According to BSE website, a total of 48.25 lakh shares were traded on the exchange on the listing day with total traded value amounting to Rs.450.08 Crs. The Wd. Average Price for the day at the BSE was Rs.932.88. Although the share never touched the circuits, the upper circuit limit was set at price of Rs.1,138.80 and lower circuit at Rs.759.25

CARE IPO was open for subscription between Dec 07, 2012 - Dec 11, 2012 and had received overwhelming response from all categories of investors

Click here for CARE IPO Category-wise Final Subscription Status
Click here for CARE IPO - Basis of Allotment

Credit rating agency Credit Analysis and Research Limited (CARE) will list its equity shares on exchanges today on Wednesday, December 26, 2012. The company had fixed its issue price at Rs.750/- per share.

The IPO had received an overwhelming response with the response from QIB Investors being 45.8 times while non-institutional and retail investors' portion received subscription of 110.96 times and 6.18 times respectively. CARE is one of the leading rating agency in India apart from CRISIL and ICRA.

Stock market analysts are predicting a clear premium listing with opening bell easily above Rs.900/- for the share. While the grey market premium for the share is also up to those levels, it remains to be seen whether the listing would reach or exceed expectations

The basis of allotment of CARE IPO is given below:
(Click on the image for a full screen view of Basis of Allotment)



If you are unable to see the basis of allotment properly, click here or log on to following link: http://www.indianipoblog.com/2012/12/care-ipo-basis-of-allotment.html

CARE IPO has been subscribed 41 times on an overall basis. The IPO, which closed today, received overwhelming response on the closing day of the issue.

The IPO received bids for 1,55,62,400 Equity Shares in the Retail Category as against 25,19,895 Equity Shares reserved in the category, thus making the category subscribed 6.18 times. The category-wise final subscription status is as under:

The subscription figures for CARE IPO has rocketed on the closing day of the issue. The IPO has received bids for a staggering 41 times the size of its issue.

According to data available on the NSE website as on December 11, 2012 2100 hrs IST, the IPO has been subscribed 40.98 times, having received total bids for 25,08,00,220 Equity Shares. The total bids received at cut-off prices is 1,39,91,680 Equity Shares as per NSE website, thus translating into a Retail oversubscription of close to 6 times the shares available in the category.

More than the Retail subscription, it is the subscription in the QIB and HNI categories that has shot up on the closing day of the IPO, which may act as a significant positive for the retail investors. The subscription in the HNI category has already crossed 100 times

Credit Analysis & Research Ltd (CARE) is the second largest full-service credit rating company in India. CARE offers rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, among others. The final category-wise subscription status will be updated on Indian IPO Blog. With SEBI's new allotment mechanism in place, it would be interesting to see how the allotment would practically take place. Click here to read more on SEBI's New IPO Allotment mechanism

CARE IPO has been subscribed 2.25 times on an overall basis till Monday, December 10, 2012 as per data available on the NSE website. The IPO has received bids 1,37,55,080 Equity Shares as against 6,119,746 Net Equity Shares offered. The IPO consists of Public offer of 7,199,700 equity shares of a Face Value of Rs. 10 each.(including Anchor Portion of 1,079,954 equity shares)

The shares are offered under a price band of Rs.700/- to Rs.750/- per equity share with a bid lot of 20 Equity Shares and in multiples thereof. Kotak Mahindra Capital Company Limited, DSP Merrill Lynch Limited, Edelweiss Financial Services Limited, ICICI Securities Limited, IDBI Capital Market Services Limited and SBI Capital Markets Limited are BRLMs to the Issue. The IPO closes on December 11, 2012

The following is the subscription status till Day 2, Monday, December 10, 2012 1700 hrs IST:

CREDIT ANALYSIS AND RESEARCH LIMITED
Sr.No.	Category	No.of shares offered/reserved	No. of shares bid for	No. of times of total meant for the category
1	Qualified Institutional Buyers (QIBs)	2519896	8824980	3.50
1(a)	Foreign Institutional Investors (FIIs)		7245620
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)		1045860
1(c)	Mutual Funds		533500
1(d)	Others		0
2	Non Institutional Investors	1079955	414120	0.38
2(a)	Corporates		0
2(b)	Individuals (Other than RIIs)		0
2(c)	Others		6740
3	Retail Individual Investors (RIIs)	2519895	4515980	1.79
3(a)	Cut Off		0
3(b)	Price Bids		0
	Total	6119746	13755080	2.25

CARE IPO, which opened for subscription from Friday, December 7, 2012, has been fully subscribed on second day of its opening.

The IPO consists of Public offer of 7,199,700 equity shares of a face value of Rs. 10 each.(including Anchor Portion of 1,079,954 equity shares) offered in a Price Band of Rs.700/- to Rs.750/- per equity share. Credit Analysis & Research Ltd (CARE) is the second largest full-service credit rating company in India. CARE offers rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, etc.

According to data available on NSE website, the IPO is subscribed 1.11 times on an overall basis till 4 PM. Precise subscription figures at the end of Day 2 would be updated here.

CARE IPO, which opened for subscription from today, has received quiet response on opening day, with the IPO getting subscribed about 9% on an overall basis

The following is the subscription position of the IPO on Day 1:

The IPO of Credit Analysis & Research Ltd (CARE), the second largest full-service credit rating company in India, will be exempted from obtaining credit rating for its IPO, being a credit rating agency itself.

CARE itself is the top rating agency of IPOs in India, having graded the largest number of IPOs since the introduction of IPO grading in India. CARE Ratings has completed over 19069 rating assignments having aggregate value of about Rs. 44051 Billion (as of September 30, 2012), since its inception in April 1993. As such, none of the rating companies including CRISIL, ICRA, Fitch, Brickworks would be rating the Initial Public Offer of CARE, which goes on air from Friday, December 7, 2012.

The shares under the IPO would be offered in a Price Band of Rs.700/- to Rs.750/- per share. The applications can be made in a bid lot of 20 Equity Shares and in multiples thereof. The IPO would remain open for subscription till Tuesday, December 11, 2012

The Price Band for the IPO of CARE has been announced at Rs.700/- to Rs.750/- per equity share. Credit Analysis & Research Ltd (CARE) is the second largest full service credit rating company in India.

CARE offers rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, among others. They also provide general and customized industry research reports.

CARE IPO would remain open for subscription between December 7, 2012 and December 11, 2012. CARE Ratings has completed more than 19000 rating assignments and is the leading credit rating agency in India for IPO grading having graded the largest number of IPOs since the introduction of IPO grading in India.

Credit Analysis And Research (CARE), India's second largest credit rating agency, has filed the Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering

The IPO would consist of a public offering of 71,99,700 Equity Shares of Rs.10/- each. The offer will constitute 25.22% of the post-offer paid-up equity share capital of company

Check back Indian IPO Blog for the latest updates on CARE IPO!