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Five Star Business Finance IPO bought 70% on last day, retail booked just 11%

Five Star Business Finance intends to raise Rs 1,960 crore via its maiden public issue, with a price band of Rs 450-474 per share.

November 11, 2022 / 06:24 PM IST
Five Star Business Finance IPO

Five Star Business Finance IPO

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Non-deposit-taking NBFC Five Star Business Finance has received 70 percent subscription to its initial public offering that closes today, as investors bought 2.12 crore equity shares against 3.04 crore shares on offer.

Qualified institutional investors have bid for shares 1.77 times the allotted quota, while so far there has been lukewarm response from retail and non-institutional investors (high networth individuals).

Retail investors bought 11 percent shares and non-institutional investors 61 percent shares of the portions set aside for them.

Any public issue to get successfully sail through has to get at least 90 percent subscription and the reserved quota of qualified institutional buyers has to be fully subscribed.