Business Daily from THE HINDU group of publications
Tuesday, Aug 08, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 08, 2006 |
|
|
|
|
|
|
|
Markets
-
IPOs Our Bureau
Mumbai , Aug. 7 ICRA Ltd, the second largest credit rating agency in the country, will be listing its shares in the stock exchanges. The company is making an offer for sale of 25.81 lakh shares, held by three institutions - State Bank of India, IFCI and Specified undertakings of UTI. ICRA on Monday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India. ICRA is the second Indian rating agency going in for a listing of shares. The first one was Crisil, which is now controlled by the global rating agency Standard and Poor's holding over 56 per cent stake. The offer constitutes 25.81 per cent of the fully diluted post-offer capital of the company. Moody's, the international rating agency, currently holding 29 per cent stake is the single largest shareholder in the company. Other shareholders include LIC, GIC and some other banks. Fifty per cent of the offer is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and remaining 35 per cent has been reserved for retail investors. Post-issue, the Moody's stake will come down marginally to 28.5 per cent and SBI to 9.99 per cent, a spokesperson for the company said. The equity shares are proposed to be listed on the NSE and the BSE. SBI Capital Markets Ltd and Kotak Mahindra Capital Company Ltd have been appointed as the Book Running Lead Managers for the offer.
More Stories on : IPOs | Credit Rating
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
