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CARE IPO is a book build issue of ₹539.98 crores. The issue is entirely an offer for sale of 0.72 crore shares of ₹539.98 crore.
CARE IPO bidding started from Dec 7, 2012 and ended on Dec 11, 2012. The shares got listed on BSE, NSE on Dec 26, 2012.
CARE IPO price band is set at ₹750.00 per share . The lot size for an application is 20. The minimum amount of investment required by an retail is ₹14,000 (20 shares). The lot size investment for sNII is 14 lots (280 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (1,340 shares), amounting to ₹10,05,000.
BOFA Securities India Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
| IPO Date | December 7, 2012 to December 11, 2012 |
| Listing Date | December 26, 2012 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹700 to ₹750 per share |
| Issue Price Final | ₹750 per share |
| Lot Size | 20 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 71,99,700 shares (aggregating up to ₹539.98 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,85,52,812 shares |
| Share Holding Post Issue | 2,85,52,812 shares |
CARE IPO offers total 71,99,700 shares. Out of which 35,99,850 (50.00%) allocated to QIB, 25,19,896 (35.00%) allocated to QIB, 10,79,955 (15.00%) allocated to NII, 25,19,895 (35.00%) allocated to RII and 10,79,954 (15.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 35,99,850 (50.00%) | NA |
| − Anchor Investor Shares Offered | 10,79,954 (15.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 25,19,896 (35.00%) | NA |
| NII (HNI) Shares Offered | 10,79,955 (15.00%) | NA |
| Retail Shares Offered | 25,19,895 (35.00%) | 1,25,994 |
| Total Shares Offered | 71,99,700 (100.00%) |
CARE IPO opens on December 7, 2012, and closes on December 11, 2012.
| IPO Open Date | Fri, Dec 7, 2012 |
| IPO Close Date | Tue, Dec 11, 2012 |
| Tentative Listing Date | Wed, Dec 26, 2012 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 11, 2012 |
Investors can bid for a minimum of 20 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹15,000 |
| Retail (Max) | 13 | 260 | ₹1,95,000 |
| S-HNI (Min) | 14 | 280 | ₹2,10,000 |
| S-HNI (Max) | 66 | 1,320 | ₹9,90,000 |
| B-HNI (Min) | 67 | 1,340 | ₹10,05,000 |
Incorporated in 1993, 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's existing shareholders include domestic banks and financial institutions, such as IDBI Bank, Canara Bank, SBI and IL&FS etc. Company's list of clients includes banks and other financial institutions, private sector companies, central public sector undertakings, sub-sovereign entities, small and medium enterprises and micro-finance institutions.
They are 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. CARE Ratings has completed over 19069 rating assignments having aggregate value of about Rs. 44051 bn (as of September 30, 2012), since its inception in April 1993.
| Particulars | For the year/period ended (in Rs. Million) | ||||
| 31-Dec-12 | 31-Mar-11 | 31-Mar-10 | 31-Mar-09 | 31-Mar-08 | |
| Total Income | 2,171.93 | 1,722.55 | 1,520.26 | 999.31 | 549.11 |
| Profit After Tax (PAT) | 1,157.02 | 879.49 | 856.90 | 523.99 | 266.85 |
The objects of the issue are to:
1. Carry out sale of 7,199,700 Equity Shares by the Selling Shareholders; and
2. To achieve the benefits of lisitng the Equity Shares on the Stock Exchanges.
[Dilip Davda] <p> On CARE's performance front, the company has posted average EPS of Rs. 35.54 for last three fiscals and Rs. 17.53 for first half of current fiscal. Its NAV as on 30.09.12 is Rs. 149.41. Thus the asking price is at a P/E of 20 plus and at a P/BV of around 4.7 that compares well with listed peers. Listed peers are performing well and has rewarded investors post IPOs. <strong style="mso-bidi-font-weight: normal">Issue is worth considering for investment. </strong></p> Read detail review...
CARE, being a credit rating company in India, is exempted by SEBI from obtaining the IPO grading for its Initial Public Offer. None of the rating companies including CRISIL, FITCH or ICRA graded CARE IPO.
| Listing Date | December 26, 2012 |
| BSE Script Code | 534804 |
| NSE Symbol | CARERATING |
| ISIN | INE752H01013 |
| Final Issue Price | ₹750 per share |
| BSE Listing Group | B |
Credit Analysis & Research Ltd.
4th Floor, Godrej Coliseum,
Somaiya Hospital Road, Off Eastern Exp Highway,
Sion (East), Mumbai 400 022
Mumbai, Maharashtra
Phone: (91 22) 6754 3456
Email: investor.relations@careratings.com
Website: http://www.careratings.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: care.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
CARE IPO is a main-board IPO of 71,99,700 equity shares of the face value of ₹10 aggregating up to ₹539.98 Crores. The issue is priced at ₹750 per share. The minimum order quantity is 20.
The IPO opens on December 7, 2012, and closes on December 11, 2012.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in CARE IPO using UPI as a payment gateway. Zerodha customers can apply in CARE IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in CARE IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The CARE IPO opens on December 7, 2012 and closes on December 11, 2012.
CARE IPO lot size is 20, and the minimum amount required for application is ₹15,000.
You can apply in CARE IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for CARE IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the CARE IPO allotment status.
The CARE IPO listing date is on Wednesday, December 26, 2012.
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