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Our Bureau

Mumbai March 23 The initial public offering of credit assessor ICRA Ltd received good response from the markets on Friday, getting subscribed 75.04 times on the BSE and the NSE at 7.30 pm. Bids were received across the price band of Rs 275-330.

The total number of bids received was 19.37 crore against the issue size of 25.81 lakh shares. Some 4.57 crore bids were received at the cut-off price.

The company will not receive any proceeds from the offer.

IFCI Ltd and the administrator of the specified undertaking of Unit Trust of India (UTI), currently holding 21.13 per cent and 7.95 per cent stake, respectively in the company, will offload their entire stake post-issue. The shareholding of SBI will come down to 9.99 per cent from 11.5 per cent.

Post-listing, Moody's group holding will come down to 28.51 per cent from the current level of 29.1 per cent.

SBI Capital Markets and Kotak Mahindra Capital Company are the book running lead managers to the issue.

More Stories on : IPOs | Credit Rating

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