The initial public offering of Credit Analysis and Research Limited (Care Ratings) will open for subscription between December 7 and December 11. The company will be the third rating agency to list on the Indian bourses after Crisil and ICRA.
Care is will nearly 7.2 million shares of face value Rs 10 each through the IPO. The entire issue will be offer for sale by existing shareholders and will comprise of 25.22% of the post-offer paid-up capital of the company.
Kotak, Bank of America Merrill Lynch, Edelweiss, ICICI Securities, IDBI Capital and SBI Capital Markets will be the book running lead managers to the issue.