ICRA is coming out with an IPO in the price band of Rs 275-300. Vice Chairman of ICRA, PK Choudhury comments on the IPO. Choudhary says that they are not raising any share themselves. The IPO was offered for sale by two of their major shareholders, IFCI and UTI.
Choudhary adds that they are not raising any money for their expansion plan. All the money has been raised for existing shareholders and the money is not coming to ICRA.He adds that their ratings business generates a lot of cash and they have a godd portfolio of investment, which can be diluted at a short notice for their future expansion plans.
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