Care Ratings sets IPO price band at Rs 700-750
The offer will comprise 25.22% of the post-offer paid-up equity share capital of the company and constitute sale of equity shares by shareholders, such as IDBI Bank, Canara Bank, SBI, IL&FS, Federal Bank, IL&FS Trust, Milestone Trusteeship, ING Vysya and Tata Investment.
The company and the selling shareholders may, in consultation with the book-running lead managers, consider participation by anchor investors, bidding for which will open on December 6. Not more than 50% of the offer will be allocated to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders and not less than 35% will be made available to retail individual investors. The issue will close on December 11.
The shares will be listed on the BSE and the NSE. The bookrunning lead managers to the offer are Kotak Mahindra Capital, DSP Merrill Lynch, Edelweiss Financial Services, ICICI Securities, IDBI Capital Market Services and SBI Capital Markets.
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