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India News LIVE: PM Modi to visit landslide-hit Wayanad today for relief and rehabilitation review

PM Modi in Wayanad: Chief Minister Pinarayi Vijayan announced the visit during a press conference in Thiruvananthapuram on Thursday. The Chief Minister also revealed that the state government has requested the central government to classify the landslides as a national disaster and severe calamity. At about 12:15 PM, the Prime Minister will visit the landslide-stricken region, where he will be updated by rescue teams on evacuation efforts and oversee ongoing rehabilitation work. Modi will also visit a relief camp and a hospital to meet and interact with survivors of the landslide. Following these engagements, the Prime Minister will convene a review meeting to receive a detailed briefing on the incident and the comprehensive relief operations underway. The catastrophic landslides that struck the hill district on July 30 have resulted in the deaths of 226 people and left more than 130 individuals missing.

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CARE Ratings Limited

Ine752h01013, professional information services.

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What Is Credit Analysis? How It Works With Evaluating Risk

Investopedia / Yurle Villegas

What Is Credit Analysis?

Credit analysis is a type of financial analysis that an investor or bond portfolio manager performs on companies, governments, municipalities, or any other debt-issuing entities to measure the issuer's ability to meet its debt obligations. Credit analysis seeks to identify the appropriate level of default risk associated with investing in that particular entity's debt instruments.

Key Takeaways

• Credit analysis evaluates the riskiness of debt instruments issued by companies or entities to measure the entity's ability to meet its obligations.
• The credit analysis seeks to identify the appropriate level of default risk associated with investing in that particular entity.
• The outcome of the credit analysis will determine what risk rating to assign the debt issuer or borrower.

How Credit Analysis Works

To judge a company’s ability to pay its debt, banks, bond investors, and analysts conduct credit analysis on the company. Using financial ratios, cash flow analysis, trend analysis , and financial projections, an analyst can evaluate a firm’s ability to pay its obligations. A review of credit scores and any collateral is also used to calculate the creditworthiness of a business.

Not only is the credit analysis used to predict the probability of a borrower defaulting on its debt, but it's also used to assess how severe the losses will be in the event of default.

The outcome of the credit analysis will determine what risk rating to assign the debt issuer or borrower. The risk rating, in turn, determines whether to extend credit or loan money to the borrowing entity and, if so, the amount to lend.

Credit Analysis Example

An example of a financial ratio used in credit analysis is the debt service coverage ratio (DSCR). The DSCR is a measure of the level of cash flow available to pay current debt obligations, such as interest, principal, and lease payments. A debt service coverage ratio below 1 indicates a negative cash flow.

For example, a debt service coverage ratio of 0.89 indicates that the company’s net operating income is enough to cover only 89% of its annual debt payments. In addition to fundamental factors used in credit analysis, environmental factors such as regulatory climate, competition, taxation, and globalization can also be used in combination with the fundamentals to reflect a borrower's ability to repay its debts relative to other borrowers in its industry.

Special Considerations

Credit analysis is also used to estimate whether the credit rating of a bond issuer is about to change. By identifying companies that are about to experience a change in debt rating, an investor or manager can speculate on that change and possibly make a profit.

For example, assume a manager is considering buying junk bonds in a company. If the manager believes that the company's debt rating is about to improve, which is a signal of relatively lower default risk, then the manager can purchase the bond before the rating change takes place, and then sell the bond after the change in rating at a higher price. On the other side, an equity investor can buy the stock since the bond rating change might have a positive impact on the stock price.

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CARE IPO is a book built issue of Rs 539.98 crores.

CARE IPO bidding started from December 7, 2012 and ended on December 11, 2012. The shares got listed on BSE, NSE on December 26, 2012.

CARE IPO price band is set at ₹700 to ₹750 per share. The minimum lot size for an application is 20 Shares. The minimum amount of investment required by retail investors is ₹15,000.

Bofa Securities India Limited , Edelweiss Financial Services Ltd , ICICI Securities Limited , Idbi Capital Market Services Limited , Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the book running lead managers of the CARE IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to CARE IPO RHP for detailed information.

CARE IPO Details

CARE IPO Reservation

CARE IPO offers 6,119,746 shares. 2,519,896 (41.18%) to QIB, 1,079,955 (17.65%) to NII, 2,519,895 (41.18%) to RII. 125,994 RIIs will receive minimum 20 shares and (sNII) and (bNII) will receive minimum 280 shares. (in case of oversubscription)

CARE IPO Lot Size

Investors can bid for a minimum of 20 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

About Credit Analysis & Research Ltd

Incorporated in 1993, Credit Analysis & Research Ltd (CARE) is the second largest full-service credit rating company in India. CARE offers rating and grading services across a diverse range of instruments and industries including IPO grading, equity grading, and grading of various types of enterprises, including shipyards, maritime training institutes, construction companies and rating of real estate projects, among others. They also provide general and customized industry research reports.

CARE's existing shareholders include domestic banks and financial institutions, such as IDBI Bank, Canara Bank, SBI and IL&FS etc. Company's list of clients includes banks and other financial institutions, private sector companies, central public sector undertakings, sub-sovereign entities, small and medium enterprises and micro-finance institutions.

They are the leading credit rating agency in India for IPO grading having graded the largest number of IPOs since the introduction of IPO grading in India. CARE Ratings has completed over 19069 rating assignments having aggregate value of about Rs. 44051 bn (as of September 30, 2012), since its inception in April 1993.

Company Financials

Key Performance Indicator

Objects of the Issue (CARE IPO Objectives)

The objects of the issue are to:

1. Carry out sale of 7,199,700 Equity Shares by the Selling Shareholders; and 2. To achieve the benefits of lisitng the Equity Shares on the Stock Exchanges.

CARE IPO Review (Apply)

 On CARE's performance front, the company has posted average EPS of Rs. 35.54 for last three fiscals and Rs. 17.53 for first half of current fiscal. Its NAV as on 30.09.12 is Rs. 149.41. Thus the asking price is at a P/E of 20 plus and at a P/BV of around 4.7 that compares well with listed peers. Listed peers are performing well and has rewarded investors post IPOs. Issue is worth considering for investment.

CARE IPO Subscription Status (Bidding Detail)

The CARE IPO is subscribed 40.98 times on December 11, 2012 11:00:00 PM. The public issue subscribed 6.18 times in the retail category, 45.80 times in the QIB category, and 110.96 times in the NII category. Check Day by Day Subscription Details (Live Status)

(Credit Analysis & Research Ltd) CARE IPO Grading

CARE, being a credit rating company in India, is exempted by SEBI from obtaining the IPO grading for its Initial Public Offer. None of the rating companies including CRISIL, FITCH or ICRA graded CARE IPO.

CARE IPO Prospectus

•   ›   CARE IPO DRHP
•   ›   CARE IPO RHP
•   ›   CARE IPO Application Form Download

CARE IPO Rating

Care ipo listing details.

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Credit Analysis & Research Ltd Contact Details

Credit Analysis & Research Ltd 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Exp Highway, Sion (East), Mumbai 400 022 Phone : (91 22) 6754 3456 Email : [email protected] Website : http://www.careratings.com

CARE IPO Registrar

Kfin Technologies Limited Phone : 04067162222, 04079611000 Email : [email protected] Website : https://kosmic.kfintech.com/ipostatus/

CARE IPO - Buy or Not

CARE IPO Recommendation Summary

Read All Reviews Post Your Review Manage Reviews

CARE IPO Lead Manager(s)

• Bofa Securities India Limited ( Past IPO Performance )
• Edelweiss Financial Services Ltd ( Past IPO Performance )
• ICICI Securities Limited ( Past IPO Performance )
• Idbi Capital Market Services Limited ( Past IPO Performance )
• Kotak Mahindra Capital Company Limited ( Past IPO Performance )
• SBI Capital Markets Limited ( Past IPO Performance )

Lead Manager Reports

• IPO Lead Manager Performance Summary
• IPO Lead Manager Performance Tracker
• CARE IPO FAQs

What is CARE IPO?

CARE IPO is a main-board IPO of 7,199,700 equity shares of the face value of ₹10 aggregating up to ₹539.98 Crores. The issue is priced at ₹700 to ₹750 per share. The minimum order quantity is 20 Shares.

The IPO opens on December 7, 2012 , and closes on December 11, 2012 .

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

When CARE IPO will open?

The CARE IPO opens on December 7, 2012 and closes on December 11, 2012.

What is the lot size of CARE IPO?

How to apply for care ipo.

You can apply in CARE IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha , Upstox , 5Paisa , Nuvama , ICICI Bank , HDFC Bank and SBI Bank .

When is CARE IPO allotment?

The finalization of Basis of Allotment for CARE IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the CARE IPO allotment status .

When is CARE IPO listing date?

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Fans at the olympics are trading commemorative pins from different countries, music interviews, cat burns on coming of age and her debut album 'early twenties', the week in news and politics, from the newsmakers themselves.

Vice President Harris, who's set to be Democrats' presidential nominee, delivers remarks during an event on Wednesday in Houston. Brandon Bell/Getty Images hide caption

Latino support for Biden was lagging. Harris gives Democrats a chance to win some back

by  Ashley Lopez

Women are leading the medal tally for Team USA at the Olympics

by  Becky Sullivan ,  Ayesha Rascoe

The racial income gap has narrowed for Black Americans, new research shows

The sound of the summer came to electronic musician drew daniel in a dream.

by  Ayesha Rascoe ,  Danny Hensel

Campers at Mt. Olive Lutheran Church in Santa Monica, Calif., paint crosses during craft time at vacation Bible school. Jason DeRose/NPR hide caption

Not your parents' VBS: How vacation Bible schools are changing to meet new needs

by  Jason DeRose

Pickle products are taking over supermarket aisles

by  Ayesha Rascoe ,  Stephen Fowler

In Paris, the Olympics pushed out thousands living on the edge of the city

by  Eleanor Beardsley

Magnesium is social media's new favorite magic aid for sleep. Here's what science says

by  Maria Godoy ,  Ayesha Rascoe

A new musical reimagines 'Cats' as it should be

by  Tracie Hunte

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