Reuters - India’s CARE to Raise $99M in IPO

India's Credit Analysis and Research has received bids for more than 40 times the number of shares on offer in a stock market debut set to raise up to $99 million, Reuters reported Tuesday. The positive response to the initial public offering of the credit rating services provider augurs well for a clutch of bigger share sales scheduled for this week as firms, which were forced to shelve plans earlier this year due to volatile markets, rush to raise funds. The government's sale of a $1.1 billion stake in miner NMDC Ltd is set for Wednesday, while telecoms tower operator Bharti Infratel is selling shares to raise up to $830 million in the country's biggest IPO in two years.

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