Care Ratings Plans 10% share buyback Scheme, May Offer Exit Opportunity to Investors
Shital Jibhe / 06 Jun 2017
Credit Analysis and Research Limited (Care Ratings) is a credit rating agency. It is engaged in providing financial services other than securities dealing activities. It reportedly plans to come out with 10% share buyback scheme this year. It will require the approval of its board of directors.
Credit Analysis and Research Limited (Care Ratings) is a credit rating agency. It is engaged in providing financial services other than securities dealing activities. It reportedly plans to come out with 10% share buyback scheme this year. It will require the approval of its board of directors.
To the investors, who intend to book profits, as the company is likely to offer an attractive premium, this scheme may offer an exit opportunity, reported a national news portal.
Various investors like Morgan Stanley, Tata Steel, Goldman Sachs, DSP Blackrock Mutual Fund, SBI Mutual Fund and Government of Singapore have invested in Care Ratings while Franklin Templeton and LIC are company’s promoters.
Meanwhile, Care Ratings on Tuesday was down by 0.8% at Rs 1481 per share at 1225 hours IST on BSE. It touched a high of Rs 1523 and a low of Rs 1481 so far during the day.
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