Credit Analysis and Research Ltd (CARE) has completed the allocation of about 15 per cent of the issue on offer through the initial public offering (IPO) to 12 anchor investors.

About 10.7 lakh equity shares worth Rs 80.99 crore have been allocated to these investors at Rs 750 per share, which is the upper end of the price band.

Prominent among anchor investors are global investment banking firm Goldman Sachs, Tata AIA Life Insurance, Birla Sun Life, Sundaram Mutual Fund, Reliance Capital, Franklin Templeton Mutual Fund and HDFC Trustee Co. Ltd.

Initial public offering

The Rs 540-crore CARE IPO will be open for subscription on December 7 and close on December 11.

The price band for the IPO has been fixed at Rs 700-750 per share. Promoters are looking to dilute 25.22 per cent of their stake and are offering about 72 lakh equity shares.

sneha.p@thehindu.co.in

(This article was published on December 7, 2012)
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