CARE allots 1.079 mn Equity Shares to 12 Anchor Investors at Rs.750 aggregating to Rs.809 mn

Credit Analysis and Research Limited (the "Company") has finalized the allocation of 1,079,954 Equity Shares (15% of the total Offer of 7,199,700 Equity Shares) to 12 Anchor investors at Rs. 750 (upper end of the Price Band) aggregating to Rs. 809.96 million (Rs. 80.99 crore). The Anchor Investors' list includes Goldman Sachs, Tata AIA Life Insurance, Birla Sun Life, Sundaram MF, Reliance Capital, Franklin Templeton MF and HDFC Trustee Co. Ltd. amongst others.

The Anchor Investors include Goldman Sachs India Fund (100,000 Equity Shares or 9.26% of the Anchor portion); Eastspring Investments India Equity Fund (100,000 Equity Shares or 9.26% of the Anchor portion); Wellington Management Company LLP A/C Bay Pond BMDMB (100,000 Equity Shares or 9.26% of the Anchor portion); Centaura Investments (Mauritius) PTE Ltd. (186,620 Equity Shares or 17.28% of the Anchor portion); DB International Asia Ltd. (100,000 Equity Shares or 9.26% of the Anchor portion); Tata AIA Life Insurance Co Ltd. A/C Whole Life Midcap Equity Fund (66,667 Equity Shares or 6.17% of the Anchor portion); Birla Sun Life Insurance Co. Ltd. (66,667 Equity Shares or 6.17% of the Anchor portion); Sundaram Mutual Fund A/C Sundaram Equity Multiplier (32,000 Equity Shares or 2.96% of the Anchor portion); Sundaram Mutual Fund A/c Sundaram Select Thematic FDS – Fin Services Opport (40,000 Equity Shares or 3.7% of the Anchor portion); Birla Sun Life Trustee Company Pvt. Ltd. A/c Birla Sun Life 95 Fund (7,203 Equity Shares or 0.67% of the Anchor portion); Birla Sun Life Trustee Company Pvt. Ltd. A/c Birla Sun Life Midcap Fund (53,997 Equity Shares or 5% of the Anchor portion); Birla Sun Life Trustee Company Pvt. Ltd. A/c India Advantage (Offshore) Fund (7,203 Equity Shares or 0.67% of the Anchor portion); Birla Sun Life Trustee Company Pvt. Ltd. A/c Birla Sun Life Long Term Advantage Fund (3,597 Equity Shares or 0.33% of the Anchor portion); Reliance Capital Trustee Co. Ltd. A/c Reliance Regular Savings Fund – Balanced Option (72,000 Equity Shares or 6.67% of the Anchor portion); Franklin Templeton Mutual Fund A/c Franklin India Prima Plus (24,824 Equity Shares or 2.30% of the Anchor portion); Franklin Templeton Mutual Fund A/c Franklin India Flexi Cap Fund (21,931 Equity Shares or 2.03% of the Anchor portion); Franklin Templeton Mutual Fund A/c Franklin India Tax Shield (11,570 Equity Shares or 1.07% of the Anchor portion); Franklin Templeton Mutual Fund A/c Franklin India Opportunities India (4,015 Equity Shares or 0.38% of the Anchor portion); Franklin Templeton Mutual Fund A/c Franklin India High Growth Companies Fund (7,372 Equity Shares or 0.68% of the Anchor portion); Franklin Asian Equity Fund (2,288 Equity Shares or 0.22% of the Anchor portion); HDFC Trustee Co. Ltd. HDFC Infrastructure Fund (24,000 Equity Shares or 2.22% of the Anchor portion); HDFC Trustee Co. Ltd. HDFC Multiple Yield Fund Plan 2005 (24,000 Equity Shares or 2.22% of the Anchor portion); and HDFC Trustee Co. Ltd. HDFC MF Monthly Income Plan Short Term Plan (24,000 Equity Shares or 2.22% of the Anchor portion).

The Company is proposing a public offer of 7,199,700 equity shares of face value of Rs. 10 each (the "Equity Shares") through an offer for sale by the Selling Shareholders for cash at a price to be determined through a 100% Book Building Process (the "Offer"). The Price Band has been fixed between Rs. 700 and Rs. 750 per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. The Offer will constitute 25.22% of the post-Offer paid-up Equity Share capital of the Company.

The Bid/ Offer period opens for subscription on Friday, December 7, 2012, and will close on Tuesday, December 11, 2012, for all Bidders (except for Anchor Investors). The Company and the Selling Shareholders may, in consultation with the Book Running Lead Managers, consider participation by Anchor Investors. The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date; i.e., Thursday, December 6, 2012, in accordance with the SEBI Regulations.

The Offer is through the Book Building Process wherein not more than 50% of the Offer shall be allocated on a proportionate basis to QIBs, provided that the Company and the Selling Shareholders may allocate up to 30% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Offer Price. QIBs (other than Anchor Investors) and Non-Institutional Bidders shall participate in the Offer through the ASBA process providing details of the bank account which will be blocked by the Self Certified Syndicate Banks to the extent of the Bid Amount for the same. Retail Individual Bidders may also participate in the Offer through the ASBA process.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE and the NSE. The BSE is the designated stock exchange for the Offer.

The Book Running Lead Managers to the Offer are Kotak Mahindra Capital Company Limited, DSP Merill Lynch Limited, Edelweiss Financial Services Limited, ICICI Securities Limited, IDBI Capital Market Services Limited and SBI Capital Markets Limited.

Source : Equity Bulls

Keywords