8th August 2006: ICRA, a leading credit agency, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an offer for sale of 25.81 lakh equity shares of Rs 10 each for cash at a price to be decided through the book building process.

The offer for sale is by IFCI, State Bank of India and administrator of the specified undertaking of Unit Trust Of India.

The offer constitutes 25.81% of the fully diluted post-offer capital of ICRA. The equity shares are proposed to be listed on NSE as well as BSE with 50% of the offer reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors and 35% for retail investors.