17 Apr 07 Post IPO, ICRA up, up and away!
After its successful IPO, ICRA today surged nearly 14% to Rs 1088, extending its gain to Rs.758 since it listed in the Indian stock market. The ipo issue price was Rs.330 and the issue was oversubsribed by a massive 75 times. ICRA touched a high of Rs.1125 today, before settling at 1088.
ICRA is the No. 2 credit rating agency in India (after CRISIL), having an order book of 399 outstanding public issues under its belt. In addition to providing rating and grading services, ICRA provides research based information and outsourcing services. Once the BASEL-II norms are implemented in India, ICRA’s business is likely to double.
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