Credit Analysis and Research (CARE) is entering the capital market on 7^th December 2012 through an offer for sale of 71.99 lakh equity shares of Rs.10 each in the price band of Rs. 700 - Rs. 750 Per Equity Share.
Issue Details:
- Issue Open: Dec 07, 2012 - Dec 11, 2012.
- Issue Size: 7,199,700 Equity Shares of Rs. 10.
- Face Value: Rs. 10 Per Equity Share.
- Issue Price: Rs. 700 - Rs. 750 Per Equity Share.
- Market Lot: 20 Shares.
- Minimum Order Quantity: 20 Shares.
- Listing at BSE and NSE.
India’s largest credit rating agency and S&P’s 53% subsidiary CRISIL at current price of Rs. 1024, quotes at a PE multiple of 34 times and ICRA, in which Moody’s holds 28.5% equity stake, trades at 32 times. Whereas CARE, at the current IPO price is offered at lower P/E multiple of 20 times at the estimated EPS Rs. 35, which is attractive at current market conditions.
Hence, considering the valuations, investors can invest with a long term view and current market conditions favor those who invest for listing gains too.