CLSA Global Markets has bought 0.48 million shares or 1.7 per cent stake in the credit ratings company -- Credit Analysis and Research (CARE Ratings). Recently, Life Insurance Corporation of India (LIC) acquired about 9.93% stake in the credit ratings company for total consideration of Rs 418 crore through open market. The insurance major has purchased 2.88 million shares in the rating agency at price of Rs 1,453 per share.
CARE is a second largest full service credit rating company in India, offering 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.
