Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
29 December, 2014 21:57 IST

Source: rss | 29-Dec-14
Comments  |  Post Comment

Initial public offer (IPO) of Credit Analysis & Research (CARE) will open for subscription on December 7. The rating agency plans to raise Rs 5.04-5.40 billion by issuing 7.2 million shares of the face value of Rs 10 each through the issue. It has fixed the price band for its initial public offer (IPO) of shares at Rs 700-750 a share. The issue will close on December 11. Promoters will dilute 25.22% of their holding in the company through the stake sale.

Commenting on the CARE IPO, Sykes & Ray Equities (SRE), said, "On the financial front, while its top  line has registered a CAGR of 48.4% per cent between FY07-12, the bottom line has reported a CAGR of 57.8% for the same period. CARE has been able to maintain its high PAT margin of 53% with strong ROE of 34%.

Based on the price band of Rs 700-750 & FY12 annual EPS of Rs. 40.52, CARE will be trading at P/E range of 17.27x to 18.5x respectively. The IPO range is observed to be at a significant discount to its local peers on BSE and NSE despite having strong growth prospects. So we recommend SUBSCRIBE."

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Credit Analysis and Research Limited  

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
Cabinet approves to invest Rs 600 mn in IFCI for raising stake to 51% - 29-Dec-2014 18:43
Mastek allots shares under employee stock option scheme - 29-Dec-2014 18:23
Ganesha Ecosphere commences commercial operations at Temra - 29-Dec-2014 18:10
Tata Coffee appoints Sanjiv Sarin as CEO - 29-Dec-2014 16:44
V-Mart Retail opens new store at Rudrapur, Uttarakhand - 29-Dec-2014 16:31
Dunkin' Donuts launches first restaurant in Pune - 29-Dec-2014 15:15
Rander Corporation inks pact with Signature Group - 29-Dec-2014 15:02
IDFC allots shares under ESOS - 29-Dec-2014 14:23
Goa Carbon commences production at Goa Plant - 29-Dec-2014 14:14
Spice Mobility announces delisting plans - 29-Dec-2014 12:39
Tata Global Beverages appoints Sushant Dash as regional president India - 29-Dec-2014 12:27
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer