2. TABLE OF CONTENTS
Topic Slide No.
Company Profile 03
Alliance with Moody’s Investors Service. 04
Subsidiaries. 05
Board of Directors. 06-07
IPO Process. 08
Book Running Lead Managers. 9-11
IPO Grading. 11
Issue Details. 12
Offer Allotment. 13
Promoter’s Shareholding Pattern. 14
Balance Sheet. 15
Key Competitors. 16
Market Capitalization With Peers. 17-18
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3. COMPANY PROFILE
• ICRA was set up in 1991 by financial investment/institutions
and banks
• As an early entrant in the Credit Rating business, ICRA
Limited (ICRA) is one of the most experienced Credit Rating
Agencies in the country today
• NSIC service is aimed at enabling Small and Medium
Enterprises (SMEs)
• ICRA was listed on NSE AND BSE on 13th APRIL 2007
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4. ALLIANCE WITH MOODY’S INVESTORS
SERVICE
The international Credit Rating Agency Moody’s Investors
Service(INDIA) is ICRA’s largest shareholder
Moody’s provide certain high-value technical services to ICRA
Moody’s conduct regular training and business seminars for
ICRA analysts
The agreement provides Moody’s advising ICRA on Rating-
products strategy and the Ratings business in general
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5. SUBSIDIARIES
ICRA
RATING CONSULTING
SERVICES SERVICES
ICRA ICRA LANKS IMAC’S ICTEAS
INDONESIA LIMITED
5
6. BOARD OF DIRECTORS
Mr. Dhruba Narayan Ghosh Mr. Pranab Kumar Choudhury
Non-Executive
Chairman and Vice-Chairman of ICRA
Independent Director and CEO of the ICRA
of ICRA Group
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7. OTHER MEMBERS ON THE BOARD
NAME DESIGNATION
MR. NARESH TAKKAR THE MANAGING DIRECTOR & CEO OF ICRA
DR. UDDESH KOHLI INDEPENDENT DIRECTOR OF ICRA
PROF.DEEPAK NAYYAR INDEPENDENT DIRECTOR OF ICRA
MR. P. G. MANKAD INDEPENDENT DIRECTOR OF ICRA
MR. AMAL GANGULI INDEPENDENT DIRECTOR OF ICRA
MS. JENNIFER ANN ELLIOTT NON-INDEPENDENT DIRECTOR OF ICRA
MR. FREDERIC WALTER JACQUES DREVON NON-INDEPENDENT DIRECTOR OF ICRA
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8. IPO PROCESS
OBJECTIVES OF THE IPO
1. The objects of the Offer are to achieve the benefits of
listing on the Stock Exchanges
2. Carry out the sale of up to 2,581,100 Equity Shares
3. Listing will provide the company a public market for
Equity Shares in India
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9. BOOK RUNNING LEAD MANAGERS
SBI Capital Markets Limited Kotak Mahindra Capital Company Limited
202, Maker Tower ‘E’ Bakhtawar, 3rd Floor
Cuffe Parade, 229, Nariman Point
Mumbai 400 005, India Mumbai 400 021, India
Tel: +91 22 2218 9166 Tel: + 91 22 6634 1100
Fax: +91 22 2218 8332 Fax: + 91 22 2284 0492
Website: www.sbicaps.com Website: www.kotak.com
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10. REGISTRAR TO THE OFFER
Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound,
L.B.S Marg, Bhandup (W).
Mumbai 400 078
Tel: +91 22 2596 0320-28
Fax: +91 22 2596 0329
Website:www.intimespectrum.com
ESCROW COLLECTION BANKS
ICICI Bank Limited. Standard Chartered Bank
Capital Markets Division 270 D. N. Road Fort, Mumbai 400 001, India
30, Mumbai Samachar Marg Tel: + 91 22 2268 3831 / 2209 2213
Mumbai 400 001, India Fax: + 91 22 2209 6067
Tel: + 91 22 2262 7600 Website: www.standardchartered.co.in
Fax: + 91 22 2261 1138
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Website:www.icicibank.com
11. HDFC Bank Limited.
State Bank of India
New Issues & Securities Services Division BTI Ops Dept New Issues & Securities
Mumbai Main Branch Services Division
Mumbai Samachar Marg OLD Bldg., 3rd Floor, Mumbai Main Branch
P.B. No. 13, Fort 26 – A Narayan Properties, Mumbai
India Mumbai 400 023, India Samachar Marg
Tel: + 91 22 2265 1579/ 2266 2133/ 2265 1363 Off Saki Vihar Road, Chandivali
Website: www.sbi.co.in/ and Andheri –E Mumbai 400 072, India
www.statebankofindia.com Tel: + 91 22 2856 9228
IPO GRADING
The Company Had not opted for IPO grading of the Offer.
12. ISSUE DETAILS
ISSUE TYPE 100% Book Built Issue IPO
ISSUE SIZE PUBLIC OFFER OF 2,581,100 EQUITY SHARES OF
Rs. 10 EACH
PRICE BAND Rs. 275 TO Rs. 330 PER EQUITY SHARE
FACE VALUE Rs. 10
ISSUE OPENIG DATE TUESDAY, MARCH 20, 2007
ISSUE CLOSING DATE FRIDAY, MARCH 23, 2007
LISTING AT NSE,BSE
DATE OF LISTING ON NSE 13TH APRIL 2007
& BSE
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13. THE OFFER ALLOTMENT
THE PUBLIC OFFER WAS OF 2,851,550 EQUITY SHARES
QUALIFIED INSTITUTIONAL 1,290,550
BUYERS (QIB’S)
NON-INSTITUTIONAL 387,156
PORTION
RETAIL INVESTORS 903,385
TOTAL 2,851,550
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14. PROMOTER’S SHAREHOLDING PATTERN
PROMOTERS NO. OF SHARES HOLDING NO. OF SHARES HOLDING
PRE OFFER POST OFFER
Moody’s 2,562,000 2,850,900
Company India Private
Limited
IFCI (Industrial finance 1,860,600 -
corporation of India)
State Bank of India (SBI) 1,020,400 999,000
Life Insurance Corporation 765,300 765,300
Of India (LIC)
Punjab National Bank 525,000 525,000
Allahabad Bank 171,500 171,500
Indian Bank 102,500 102,500
Canara Bank 87,500 87,500
Oriental Bank of 35,000 35,000
Commerce
Other Public Shareholders - 2,581,100 14
15. BALANCE SHEET OF FIVE YEARS.
MARCH MARCH MARCH MARCH MARCH
12 11 10 09 08
NET 282.92 242.34 209.60 179.41 157.30
WORTH
TOTAL 282.92 242.34 209.60 179.41 157.30
LIABILITIES
NET BLOCK 16.01 16.89 17.68 17.68 18.44
TOTAL 282.92 242.34 209.60 179.41 157.30
ASSETS
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17. MARKET CAPITALIZATION WITH PEERS
MARKET CAPITALIZATION
ICRA
FITCH 11%
RATINGS
11%
CARE CRISIL
19% 59%
AS PER
FY12
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18. MARKET CAPITALIZATION (CONTD)
FIGURES IN (RS.CRORES)
COMPANY NAME MARKET CAPITALIZATION
CRISIL 6,431.99
CARE 2000
FITCH RATINGS INDIA PRIVATE 1195.30
LIMITED
ICRA 1190.45
TOTAL 10817.74
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