CARE to allot 446310 equity shares at Rs. 550.15 to Ascent India Fund III

The Board of Directors of Credit Analysis and Research Ltd, at its meeting held on August 29,2013, has, subject to the approval of the shareholders in the forthcoming Annual General Meeting scheduled to be held on September 27, 2013, given its consent, to create, issue, offer, and allot, on a preferential basis, an aggregate of 4,46,310 equity shares with face value of Rs. 10/- each at a premium of Rs. 550.15 of the Company aggregating to an issue price of a Rs. 25,00,00,547/- to Ascent India Fund III managed by Ascent Capital Advisors India Private Limited, (the "Issue").

As informed on May 02, 2013, the Reserve Bank of India had extended the date of compliance with the minimum capitalization requirement by the Company from June 09, 2013 to September 30, 2013. The Company is undertaking the Issue in order to comply with the minimum capitalisation norms of USD 0.50 million applicable to non-fund based nonbanking finance companies as required by the Reserve Bank of India in connection with the initial public offer of the Company undertaken in December 2012.

Shares of Credit Analysis and Research Ltd was last trading in BSE at Rs.543.60, up by Rs.17.55 or 3.34%. The stock hit an intraday high of Rs.547.90 and low of Rs.523.

The total traded quantity was 3504 compared to 2 week average of 1739.

Source : Equity Bulls

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