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CARL announces public offer

Posted on Dec 06, 08:07PM | UNI

Credit Analysis and Research Limited (CARL) today announced that it was mulling 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 per cent Book Building Process (the 'Offer').

Announcing this at a press conference here,CARL Senior Vice-President Saikat Roy and Regional Manager Swapinil Thakur said 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, he said, adding the offer will constitute 25.22 per cent of the post-offer paid-up equity share capital of the company.

He said the Bid/Offer period opens for subscription tomorrow and will close on 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 dat in accordance withthe SEBI Regulations, Mr Roy said.