CARE IPO Exempted from IPO rating - Indian IPO Blog

Monday, December 3, 2012

CARE IPO Exempted from IPO rating

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

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