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Ascent Capital to buy 1.5% in ratings agency CARE for $3.7M - 29-Aug-2013
Ascent Capital is picking around 1.5 per cent stake in the domestic ratings agency Credit Analysis and Research Ltd (CARE) through a preferential allotment worth Rs 25 crore ($3.7 million), the company disclosed to the stock exchanges on Thursday. Ascent India Fund III, managed by Ascent Capital Advisors India Private Ltd, is buying close to 4.5 lakh equity shares at Rs 560.15 each, subject to shareholders’ approval.