Credit Analysis and Research’s Rs 540-crore initial public offering was subscribed about 41 times according to data on the exchanges.
The rating agency’s issue got bids for 24.9 crore equity shares as against the public offer of 61.19 lakh shares.
The price band for the IPO had been set at Rs 700-750 a share.
None of the proceeds of the offer will be utilised by CARE, and all the proceeds will go to the selling shareholders.