CARE IPO subscription blasts its way to 40 times - Indian IPO Blog

Tuesday, December 11, 2012

CARE IPO subscription blasts its way to 40 times

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

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