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Last Updated : May 18, 2018 11:08 AM IST | Source: Moneycontrol.com

Indostar Capital Finance to debut on bourses on May 21

The Rs 1,844-crore initial public offer was subscribed 6.8 times during May 9-11, receiving bids for 15.36 crore shares against the total issue size of 2.25 crore shares.

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After receiving good subscription, non-banking finance company Indostar Capital Finance will debut on exchanges on May 21, 2018. The final price is fixed at Rs 572 per share.

The Rs 1,844-crore initial public offer was subscribed 6.8 times during May 9-11, receiving bids for 15.36 crore shares against the total issue size of 2.25 crore shares.

The category reserved for qualified institutional buyers (QIBs) was subscribed 16.08 times, non institutional investors 6.91 times and retail investors 1.48 times.

The IPO consists of fresh issue of up to Rs 700 crore and an offer for sale of up to 2 crore equity shares (including anchor portion of 9,671,328 equity shares). The price band for public issue was at Rs 570-572 per share.

The fresh issue proceeds would be used to augment capital base to meet future capital requirements while money raised through offer for sale will go to selling shareholders.

IndoStar Capital Finance offers structured term financing solutions for corporates, and loans to small and medium enterprise (SME) borrowers in India. It has recently expanded its portfolio to offer vehicle finance and housing finance products.

JM Financial, Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) were managing the issue.
First Published on May 18, 2018 11:08 am
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